GLOBAL PROJECT (SERVICES) LIMITED

Company Registration Number:
SC172021 (Scotland)

Unaudited statutory accounts for the year ended 31 December 2022

Period of accounts

Start date: 1 April 2022

End date: 31 December 2022

GLOBAL PROJECT (SERVICES) LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

GLOBAL PROJECT (SERVICES) LIMITED

Directors' report period ended 31 December 2022

The directors present their report with the financial statements of the company for the period ended 31 December 2022

Directors

The director shown below has held office during the whole of the period from
1 April 2022 to 31 December 2022

G C MacDonald


The directors shown below have held office during the period of
1 April 2022 to 4 April 2022

R J MacGregor
J D MacDonald
D A MacGregor
G J Farmer


The directors shown below have held office during the period of
4 April 2022 to 31 December 2022

P N Lanigan
D J Williams


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
5 February 2024

And signed on behalf of the board by:
Name: P N Lanigan
Status: Director

GLOBAL PROJECT (SERVICES) LIMITED

Profit And Loss Account

for the Period Ended 31 December 2022

31 December 2022 31 March 2022


£

£
Turnover: 7,965,000 1,164,000
Cost of sales: ( 6,741,000 ) ( 964,000 )
Gross profit(or loss): 1,224,000 200,000
Administrative expenses: ( 2,236,000 ) ( 87,000 )
Operating profit(or loss): (1,012,000) 113,000
Interest payable and similar charges: ( 48,000 ) ( 8,000 )
Profit(or loss) before tax: (1,060,000) 105,000
Profit(or loss) for the financial year: (1,060,000) 105,000

GLOBAL PROJECT (SERVICES) LIMITED

Balance sheet

As at 31 December 2022

Notes 31 December 2022 31 March 2022


£

£
Fixed assets
Tangible assets: 3 618,000 496,000
Investments: 4 4,000
Total fixed assets: 618,000 500,000
Current assets
Stocks: 5 0 454,000
Debtors: 6 2,544,000 2,412,000
Cash at bank and in hand: 205,000 37,000
Investments: 7 4,000
Total current assets: 2,753,000 2,903,000
Creditors: amounts falling due within one year: 8 ( 2,522,000 ) ( 1,494,000 )
Net current assets (liabilities): 231,000 1,409,000
Total assets less current liabilities: 849,000 1,909,000
Total net assets (liabilities): 849,000 1,909,000
Capital and reserves
Called up share capital: 380,000 380,000
Share premium account: 5,000 5,000
Other reserves: 135,000 135,000
Profit and loss account: 329,000 1,389,000
Total Shareholders' funds: 849,000 1,909,000

The notes form part of these financial statements

GLOBAL PROJECT (SERVICES) LIMITED

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 5 February 2024
and signed on behalf of the board by:

Name: P N Lanigan
Status: Director

The notes form part of these financial statements

GLOBAL PROJECT (SERVICES) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company andthe revenue can be reliably measured. Revenue is measured as the fair value of the consideration received orreceivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must alsobe met before revenue is recognised:Rendering of servicesRevenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:1. the amount of revenue can be measured reliably;2. it is probable that the Company will receive the consideration due under the contract;3. the stage of completion of the contract at the end of the reporting period can be measured reliably; and4. the costs incurred and the costs to complete the contract can be measured reliably.Profit on contracts is recognised as the work is carried out, and is measured based on time incurred against relevant projects. This is compared against invoicing schedules ad revenue is recognised or deferred accordingly.

    Tangible fixed assets depreciation policy

    Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

GLOBAL PROJECT (SERVICES) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 2. Employees

    31 December 2022 31 March 2022
    Average number of employees during the period 97 91

GLOBAL PROJECT (SERVICES) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2022 119,000 372,000 3,000 14,000 508,000
Additions 20,000 49,000 93,000 59,000 221,000
Disposals
Revaluations
Transfers
At 31 December 2022 139,000 421,000 96,000 73,000 729,000
Depreciation
At 1 April 2022 1,000 10,000 1,000 0 12,000
Charge for year 16,000 67,000 5,000 11,000 99,000
On disposals
Other adjustments
At 31 December 2022 17,000 77,000 6,000 11,000 111,000
Net book value
At 31 December 2022 122,000 344,000 90,000 62,000 618,000
At 31 March 2022 118,000 362,000 2,000 14,000 496,000

GLOBAL PROJECT (SERVICES) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Fixed assets investments note

Subsidiary UndertakingCost or ValuationAs at 1 April 2022 £4,000As at 31 December 2022 £4,000The following was a subsidiary undertaking of the CompanyGlobal Project Services Norge AS.

GLOBAL PROJECT (SERVICES) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Stocks

31 December 2022 31 March 2022
£ £
Stocks 0 454,000
Payments on account 0
Total 0 454,000

GLOBAL PROJECT (SERVICES) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

6. Debtors

31 December 2022 31 March 2022
£ £
Trade debtors 2,135,000 882,000
Prepayments and accrued income 397,000 520,000
Other debtors 12,000 1,010,000
Total 2,544,000 2,412,000

GLOBAL PROJECT (SERVICES) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

7. Current assets investments note

Cost or valuationAs at 31 December 2022 £4,000The following was a subsidiary undertaking of the Company.Global Project Services Norge AS

GLOBAL PROJECT (SERVICES) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

8. Creditors: amounts falling due within one year note

31 December 2022 31 March 2022
£ £
Trade creditors 126,000 80,000
Taxation and social security 656,000 399,000
Accruals and deferred income 393,000 134,000
Other creditors 1,347,000 881,000
Total 2,522,000 1,494,000