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Registered Number: 06611823
England and Wales

 

 

 

GLOBAL DAILY STORES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 67,116    72,466 
67,116    72,466 
Current assets      
Stocks 165,000    75,500 
Debtors: amounts falling due within one year 88,012    91,754 
Cash at bank and in hand (29,067)   (26,544)
223,945    140,710 
Creditors: amount falling due within one year (72,236)   (49,570)
Net current assets 151,709    91,140 
 
Total assets less current liabilities 218,825    163,606 
Creditors: amount falling due after more than one year (176,017)   (125,283)
Net assets 42,808    38,323 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 42,807    38,322 
Shareholder's funds 42,808    38,323 
 


For the accounting year the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 04 April 2024 and were signed by:


-------------------------------
Tofail Ahamed
Director
1
General Information
GLOBAL DAILY STORES LIMITED is a private company, limited by shares, registered in England, registration number 06611823, registration address 235 , Lower Clapton Road, London, County (optional), E5 8EG.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Cost of sales
Cost of sales comprises the value of goods and services purchased by the company, net of Value Added Tax and trade discounts as applicable.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Reducing Balance
Motor Vehicles 15% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 15% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Staff Costs

2023
£
  2022
£
Wages and salaries 56,043    65,731 
56,043    65,731 
 
Average number of employees during the year Number   Number
Administration 1    1 
Sales 3    3 
 

3.

Average number of employees

Average number of employees during the year was 4 (2022 : 4).
4.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 July 2022   11,563    43,412    4,425    59,400 
Additions 36,800          36,800 
Disposals        
At 30 June 2023 36,800    11,563    43,412    4,425    96,200 
Depreciation
At 01 July 2022   8,802    13,249    1,683    23,734 
Charge for year   414    4,525    411    5,350 
On disposals        
At 30 June 2023   9,216    17,774    2,094    29,084 
Net book values
Closing balance as at 30 June 2023 36,800    2,347    25,638    2,331    67,116 
Opening balance as at 01 July 2022 36,800    2,761    30,163    2,742    72,466 


2