Registered number
10506119
Global Roots Ltd
Filleted Accounts
31 December 2023
Global Roots Ltd
Registered number: 10506119
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 25 8,000
Current assets
Debtors 4 125 1,030
Cash at bank and in hand 176,138 193,372
176,263 194,402
Creditors: amounts falling due within one year 6 (54,292) (88,828)
Net current assets 121,971 105,574
Net assets 121,996 113,574
Capital and reserves
Called up share capital 100 100
Profit and loss account 121,896 113,474
Shareholder's funds 121,996 113,574
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.
Mr T A J Ebdon
Director
Approved by the board on 7 March 2024
Global Roots Ltd
Notes to the Accounts
for the year ended 31 December 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Cost
At 1 January 2023 8,000
Additions 25
Disposals (8,000)
At 31 December 2023 25
The company owns 25% of the ordinary shares of Canopy Crops Ltd (a company registered in England and number 14792163), £25 was paid. Canopy Crops Ltd is a trading company. The shares In Flatcable Holdings Limited were sold in April 2023 for £8000.
4 Debtors 2023 2022
£ £
Other debtors 125 1,030
5 Investments held as current assets 2023 2022
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments - (83,334)
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,409 2,409
Director's loan 51,883 86,419
54,292 88,828
7 Related party transactions
Mr T A J Ebdon has a current account (director's loan) where he has loaned money to the company. The loan is interest free and repayable on demand.
8 Controlling party
The controlling party is Mr T A J Ebdon holding all the ordinary shares.
9 Other information
Global Roots Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Cedars
Creeton Road
Little Bytham
Grantham
NG33 4PT
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