Registered number
05966098
Global PA Group Limited
Filleted Accounts
31 October 2023
Global PA Group Limited
Registered number: 05966098
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1,600 2,400
Tangible assets 4 513 638
2,113 3,038
Current assets
Debtors 5 102,975 87,113
Cash at bank and in hand 50 111
103,025 87,224
Creditors: amounts falling due within one year 6 (62,194) (37,550)
Net current assets 40,831 49,674
Total assets less current liabilities 42,944 52,712
Creditors: amounts falling due after more than one year 7 (32,365) (41,514)
Net assets 10,579 11,198
Capital and reserves
Called up share capital 200 200
Share premium 9,980 9,980
Profit and loss account 399 1,018
Shareholder's funds 10,579 11,198
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 her 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.
Ms R E Parr
Director
Approved by the board on 29 July 2024
Global PA Group Limited
Notes to the Accounts
for the year ended 31 October 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 rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2022 8,000
At 31 October 2023 8,000
Amortisation
At 1 November 2022 5,600
Provided during the year 800
At 31 October 2023 6,400
Net book value
At 31 October 2023 1,600
At 31 October 2022 2,400
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 1,583
At 31 October 2023 1,583
Depreciation
At 1 November 2022 945
Charge for the year 125
At 31 October 2023 1,070
Net book value
At 31 October 2023 513
At 31 October 2022 638
5 Debtors 2023 2022
£ £
Trade debtors 957 3,051
Other debtors 102,018 84,062
102,975 87,113
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 24,262 -
Trade creditors 4,376 2,661
Taxation and social security costs 32,956 30,903
Other creditors 600 3,986
62,194 37,550
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 32,365 41,514
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Ms R E Parr
Directors loan - interest rate 2% 84,062 - (22,959) 61,103
84,062 - (22,959) 61,103
9 Controlling party
The company considers the director to be its controlling party.
10 Other information
Global PA Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
3rd Floor, 45 Albermarle Street
Mayfair
London
W1S 4JL
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