Company Registration No. in England and Wales
09702385
GLOBAL ELITE ALLIANCE LTD
UNAUDITED FILLETED ACCOUNTS
28 February 2023
GLOBAL ELITE ALLIANCE LTD
Registered number: 09702385
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 130 783
Current assets
Stocks 1,000 -
Debtors 4 415 -
Cash at bank and in hand 822 482
2,237 482
Creditors: amounts falling due within one year 5 (9,178) (9,645)
Net current liabilities (6,941) (9,163)
Total assets less current liabilities (6,811) (8,380)
Creditors: amounts falling due after more than one year 6 (41,322) (44,926)
Net liabilities (48,133) (53,306)
Capital and reserves
Called up share capital 100 100
Profit and loss account (48,233) (53,406)
Shareholder's funds (48,133) (53,306)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr Alimohammad Pedram
Director
Approved by the board on 28 November 2023
GLOBAL ELITE ALLIANCE LTD
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computers 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
No provision has been provided for corporation tax liability as the company claimed brought forward losses against the profit made from this trade.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022 2,361
At 28 February 2023 2,361
Depreciation
At 1 March 2022 1,578
Charge for the year 653
At 28 February 2023 2,231
Net book value
At 28 February 2023 130
At 28 February 2022 783
4 Debtors 2023 2022
£ £
Other debtors 415 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 640 (113)
Other creditors 8,538 9,758
9,178 9,645
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 41,322 44,926
7 Controlling party
The ultimate controlling party is the director Dr Alimohammad Pedram who owns 100% of the company's share.
8 Other information
GLOBAL ELITE ALLIANCE LTD is a private company limited by shares and incorporated in England. Its registered office is:
Knight Chadwick
243 Elgin Avenue
London
W9 1NJ
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