IRIS Accounts Production v23.1.5.20 05088151 director 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh050881512022-03-31050881512023-03-31050881512022-04-012023-03-31050881512021-03-31050881512021-04-012022-03-31050881512022-03-3105088151ns15:EnglandWales2022-04-012023-03-3105088151ns14:PoundSterling2022-04-012023-03-3105088151ns10:Director12022-04-012023-03-3105088151ns10:PrivateLimitedCompanyLtd2022-04-012023-03-3105088151ns10:SmallEntities2022-04-012023-03-3105088151ns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3105088151ns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3105088151ns10:SmallCompaniesRegimeForAccounts2022-04-012023-03-3105088151ns10:FullAccounts2022-04-012023-03-3105088151ns10:RegisteredOffice2022-04-012023-03-3105088151ns5:CurrentFinancialInstruments2023-03-3105088151ns5:CurrentFinancialInstruments2022-03-3105088151ns5:ShareCapital2023-03-3105088151ns5:ShareCapital2022-03-3105088151ns5:RetainedEarningsAccumulatedLosses2023-03-3105088151ns5:RetainedEarningsAccumulatedLosses2022-03-3105088151ns5:PlantMachinery2022-04-012023-03-3105088151ns5:PlantMachinery2022-03-3105088151ns5:PlantMachinery2023-03-3105088151ns5:PlantMachinery2022-03-3105088151ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3105088151ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3105088151ns5:RetainedEarningsAccumulatedLosses2022-03-3105088151ns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-31
REGISTERED NUMBER: 05088151 (England and Wales)











Unaudited Financial Statements for the Year Ended 31 March 2023

for

Globetec Solutions Limited

Globetec Solutions Limited (Registered number: 05088151)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Globetec Solutions Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr J P Taylor





REGISTERED OFFICE: ASM House
103A Keymer Road
Hassocks
West Sussex
BN6 8QL





REGISTERED NUMBER: 05088151 (England and Wales)

Globetec Solutions Limited (Registered number: 05088151)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,238 57,652

CURRENT ASSETS
Debtors 5 669,214 978,230
Investments 6 810,000 60,000
Cash at bank 1,357,141 1,529,899
2,836,355 2,568,129
CREDITORS
Amounts falling due within one year 7 179,249 350,813
NET CURRENT ASSETS 2,657,106 2,217,316
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,700,344

2,274,968

CAPITAL AND RESERVES
Called up share capital 8 8
Retained earnings 8 2,700,336 2,274,960
SHAREHOLDERS' FUNDS 2,700,344 2,274,968

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Globetec Solutions Limited (Registered number: 05088151)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 November 2023 and were signed by:





Mr J P Taylor - Director


Globetec Solutions Limited (Registered number: 05088151)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Globetec Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Globetec Solutions Limited (Registered number: 05088151)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 195,309
DEPRECIATION
At 1 April 2022 137,657
Charge for year 14,414
At 31 March 2023 152,071
NET BOOK VALUE
At 31 March 2023 43,238
At 31 March 2022 57,652

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 61,996 489,209
Other debtors 607,218 489,021
669,214 978,230

6. CURRENT ASSET INVESTMENTS
31.3.23 31.3.22
£    £   
Unlisted investments 810,000 60,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 12,158 50,463
Taxation and social security 167,091 300,324
Other creditors - 26
179,249 350,813

Globetec Solutions Limited (Registered number: 05088151)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. RESERVES
Retained
earnings
£   

At 1 April 2022 2,274,960
Profit for the year 652,675
Dividends (227,299 )
At 31 March 2023 2,700,336

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J P Taylor.