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REGISTERED NUMBER: 03895496 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

GLOBAL DOMESTIC APPLIANCES LIMITED

GLOBAL DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 03895496)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLOBAL DOMESTIC APPLIANCES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: M P Reeves
C P Reeves
Mrs M F Reeves





SECRETARY: Mrs M F Reeves





REGISTERED OFFICE: Unit 2 Soothouse Spring
Valley Road Industrial Estate
St Albans
Hertfordshire
AL3 6PF





REGISTERED NUMBER: 03895496 (England and Wales)





ACCOUNTANTS: Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

GLOBAL DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 03895496)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 292,600 319,200
Tangible assets 5 389,552 403,524
682,152 722,724

CURRENT ASSETS
Stocks 438,470 474,038
Debtors 6 187,247 230,631
Cash at bank 81,517 239,679
707,234 944,348
CREDITORS
Amounts falling due within one year 7 848,011 1,091,872
NET CURRENT LIABILITIES (140,777 ) (147,524 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

541,375

575,200

CREDITORS
Amounts falling due after more than one year 8 27,500 37,500
NET ASSETS 513,875 537,700

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 599,000 599,000
Profit and loss account (86,125 ) (62,300 )
513,875 537,700

GLOBAL DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 03895496)

BALANCE SHEET - continued
30 APRIL 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2024 and were signed on its behalf by:





C P Reeves - Director


GLOBAL DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 03895496)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Global Domestic Appliances Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for the sale of appliances, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its remaining estimated useful life of fifteen years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 50% on reducing balance, 33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost unless they are classified as receivable within one year in which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment.

Financial liabilities that are classified as payable within one year are subsequently measured at the undiscounted amount of the cash or other consideration expected to be paid.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously.


GLOBAL DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 03895496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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
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.

Hire purchase and leasing commitments
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 costs charged in the financial statements represents the company's obligations made on behalf of the company's employees under Workplace Pension Reform.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 600,000
AMORTISATION
At 1 May 2022 280,800
Charge for year 26,600
At 30 April 2023 307,400
NET BOOK VALUE
At 30 April 2023 292,600
At 30 April 2022 319,200

GLOBAL DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 03895496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2022
and 30 April 2023 336,000 178,448 514,448
DEPRECIATION
At 1 May 2022 - 110,924 110,924
Charge for year - 13,972 13,972
At 30 April 2023 - 124,896 124,896
NET BOOK VALUE
At 30 April 2023 336,000 53,552 389,552
At 30 April 2022 336,000 67,524 403,524

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 165,018 177,395
Other debtors 22,229 53,236
187,247 230,631

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 246,260 356,151
Taxation and social security 90,216 18,243
Other creditors 501,535 707,478
848,011 1,091,872

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 27,500 37,500

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 39,398 39,398
Between one and five years 157,592 157,592
In more than five years 4,925 44,323
201,915 241,313

GLOBAL DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 03895496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other creditors 213,810 213,810

The company's other director, Mrs M Reeves, has made an interest free loan to the company. There is no stipulation as to repayment of the loan. The loan is secured by a fixed and floating charge over the assets of the company.