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REGISTERED NUMBER: 02930066 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

GLOBAL MARKETING GROUP LIMITED

GLOBAL MARKETING GROUP LIMITED (REGISTERED NUMBER: 02930066)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Balance sheet 1

Notes to the financial statements 3


GLOBAL MARKETING GROUP LIMITED (REGISTERED NUMBER: 02930066)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 1,434,485 1,443,088
1,434,485 1,443,088

Current assets
Stocks 528,286 485,694
Debtors 6 882,633 441,968
Investments 7 258,535 218,641
Cash at bank and in hand 78,575 223,375
1,748,029 1,369,678
Creditors
Amounts falling due within one year 8 1,278,924 937,016
Net current assets 469,105 432,662
Total assets less current liabilities 1,903,590 1,875,750

Creditors
Amounts falling due after more than one year 9 (433,465 ) (527,661 )

Provisions for liabilities 12 (62,377 ) (49,041 )
Net assets 1,407,748 1,299,048

Capital and reserves
Called up share capital 13 15,000 15,000
Fair value reserve 14 355,035 367,936
Retained earnings 1,037,713 916,112
Shareholders' funds 1,407,748 1,299,048

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 directors acknowledge their 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.

GLOBAL MARKETING GROUP LIMITED (REGISTERED NUMBER: 02930066)

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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:





Mr J C Garcia-Candal - Director


GLOBAL MARKETING GROUP LIMITED (REGISTERED NUMBER: 02930066)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. Statutory information

Global Marketing Group Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02930066. The registered office and business address is Global House, Salisbury Road, Downton, Salisbury, Wiltshire, SP5 3JJ.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts receivable, excluding value added tax, in respect of goods and services provided in the ordinary course of business. Turnover in respect of services is recognised when the service has been provided to the customer. Revenue is recognised for the sale of goods when the right to consideration in respect of the sale has been earned and the company has transferred to the buyer the significant risks and rewards of ownership of the goods.

Goodwill
Acquired goodwill is written off in equal instalments over its estimated useful economic life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures, fittings and equipment - 25% on cost
Motor vehicles - 25% on reducing balance

Tangible fixed assets other than freehold property and long leasehold property are stated at cost or valuation less depreciation.

Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life.

Freehold property and long leasehold property are stated at fair value so long as a value can be measured reliably. This will be reviewed annually.

Stocks
Stock and Work In Progress are valued at the lower of cost and net realisable value.

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 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.

GLOBAL MARKETING GROUP LIMITED (REGISTERED NUMBER: 02930066)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. Accounting policies - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

Current asset investments
Current asset investments are recognised at cost.

3. Employees and directors

The average number of employees during the year was 17 (2022 - 11 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 April 2022
and 31 March 2023 25,000
Amortisation
At 1 April 2022
and 31 March 2023 25,000
Net book value
At 31 March 2023 -
At 31 March 2022 -

GLOBAL MARKETING GROUP LIMITED (REGISTERED NUMBER: 02930066)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. Tangible fixed assets
Freehold Long Plant and
property leasehold machinery
£    £    £   
Cost or valuation
At 1 April 2022 950,000 450,000 35,223
Additions - - -
Disposals - - -
At 31 March 2023 950,000 450,000 35,223
Depreciation
At 1 April 2022 - - 33,683
Charge for year - - 385
Eliminated on disposal - - -
At 31 March 2023 - - 34,068
Net book value
At 31 March 2023 950,000 450,000 1,155
At 31 March 2022 950,000 450,000 1,540

Fixtures,
fittings
and Motor
equipment vehicles Totals
£    £    £   
Cost or valuation
At 1 April 2022 131,106 43,318 1,609,647
Additions 5,995 - 5,995
Disposals - (15,800 ) (15,800 )
At 31 March 2023 137,101 27,518 1,599,842
Depreciation
At 1 April 2022 111,073 21,803 166,559
Charge for year 8,177 5,159 13,721
Eliminated on disposal - (14,923 ) (14,923 )
At 31 March 2023 119,250 12,039 165,357
Net book value
At 31 March 2023 17,851 15,479 1,434,485
At 31 March 2022 20,033 21,515 1,443,088

GLOBAL MARKETING GROUP LIMITED (REGISTERED NUMBER: 02930066)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. Tangible fixed assets - continued

Cost or valuation at 31 March 2023 is represented by:

Freehold Long Plant and
property leasehold machinery
£    £    £   
Valuation in 2014 6,500 - -
Valuation in 2018 - 52,291 -
Valuation in 2022 350,000 - -
Cost 593,500 397,709 35,223
950,000 450,000 35,223

Fixtures,
fittings
and Motor
equipment vehicles Totals
£    £    £   
Valuation in 2014 - - 6,500
Valuation in 2018 - - 52,291
Valuation in 2022 - - 350,000
Cost 137,101 27,518 1,191,051
137,101 27,518 1,599,842

Freehold property and long leasehold property were valued by the director on an open market basis on 31 March 2023.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost or valuation
At 1 April 2022
and 31 March 2023 27,518
Depreciation
At 1 April 2022 6,880
Charge for year 5,159
At 31 March 2023 12,039
Net book value
At 31 March 2023 15,479
At 31 March 2022 20,638

GLOBAL MARKETING GROUP LIMITED (REGISTERED NUMBER: 02930066)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 643,323 367,416
Other debtors 102,372 -
Tax - 31,407
VAT 37,886 -
Prepayments 99,052 43,145
882,633 441,968

7. Current asset investments
2023 2022
£    £   
Unlisted investments 258,535 218,641

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 91,700 91,017
Hire purchase contracts (see note 10) 3,515 3,515
Trade creditors 568,724 336,009
Tax 33,103 22,855
Social security and other taxes 9,482 13,888
Pensions creditor 15,269 3,237
VAT - 5,559
Other creditors 26,589 19,668
Directors' current accounts 18,664 77,356
Accrued expenses 511,878 363,912
1,278,924 937,016

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 92,900 93,223
Bank loans - 2-5 years 191,708 268,339
Bank loans more 5 yr by instal 135,178 148,905
Hire purchase contracts (see note 10) 13,679 17,194
433,465 527,661

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 135,178 148,905

GLOBAL MARKETING GROUP LIMITED (REGISTERED NUMBER: 02930066)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


10. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 3,515 3,515
Between one and five years 13,679 17,194
17,194 20,709

Non-cancellable operating leases
2023 2022
£    £   
Within one year 17,204 -
Between one and five years 55,913 -
73,117 -

11. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 17,194 20,709
Bank loans 332,320 373,074
349,514 393,783

The company has bank loans which are secured by way of a legal charge over the freehold land and buildings together with a fixed and floating charge on the company. The company also has a Coronavirus Business Interruption Loan which is unsecured.

Amounts owed under hire purchase agreements are secured against the assets to which they relate.

12. Provisions for liabilities
2023 2022
£    £   
Deferred tax 62,377 49,041

Deferred
tax
£   
Balance at 1 April 2022 49,041
Charge to Income statement during year 13,336
Balance at 31 March 2023 62,377

GLOBAL MARKETING GROUP LIMITED (REGISTERED NUMBER: 02930066)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


13. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
15,000 Ordinary £1 15,000 15,000

14. Reserves
Fair
value
reserve
£   
At 1 April 2022 367,936
Deferred tax on fair value increase (12,901 )

At 31 March 2023 355,035

15. Ultimate controlling party

The company is controlled by the director, Mr J C Garcia-Candal, who owns 100% of the issued share capital.