7 31/01/2024 2024-01-31 false false false false false false false true false false true false false false true true true false No description of principal activities is disclosed 2022-12-12 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 14535269 2022-12-12 2024-01-31 14535269 2024-01-31 14535269 2022-12-11 14535269 core:PlantMachinery 2022-12-12 2024-01-31 14535269 core:MotorVehicles 2022-12-12 2024-01-31 14535269 bus:Director1 2022-12-12 2024-01-31 14535269 core:PlantMachinery 2024-01-31 14535269 core:FurnitureFittingsToolsEquipment 2024-01-31 14535269 core:MotorVehicles 2024-01-31 14535269 core:ShareCapital 2022-12-12 2024-01-31 14535269 core:RetainedEarningsAccumulatedLosses 2022-12-12 2024-01-31 14535269 core:WithinOneYear 2024-01-31 14535269 core:AfterOneYear 2024-01-31 14535269 core:ShareCapital 2024-01-31 14535269 core:RetainedEarningsAccumulatedLosses 2024-01-31 14535269 core:FurnitureFittingsToolsEquipment 2022-12-12 2024-01-31 14535269 bus:SmallEntities 2022-12-12 2024-01-31 14535269 bus:AuditExempt-NoAccountantsReport 2022-12-12 2024-01-31 14535269 bus:FullAccounts 2022-12-12 2024-01-31 14535269 bus:SmallCompaniesRegimeForAccounts 2022-12-12 2024-01-31 14535269 bus:PrivateLimitedCompanyLtd 2022-12-12 2024-01-31
Company registration number: 14535269
Globalreach Integrated Services Limited
Unaudited filleted financial statements
31 January 2024
Globalreach Integrated Services Limited
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Globalreach Integrated Services Limited
Statement of financial position
31 January 2024
31/01/24
Note £ £
Fixed assets
Tangible assets 5 64,695
_______
64,695
Current assets
Debtors 6 53,790
Cash at bank and in hand 5,798
_______
59,588
Creditors: amounts falling due
within one year 7 ( 266,121)
_______
Net current liabilities ( 206,533)
_______
Total assets less current liabilities ( 141,838)
Creditors: amounts falling due
after more than one year 8 ( 145,646)
_______
Net liabilities ( 287,484)
_______
Capital and reserves
Called up share capital 1
Profit and loss account ( 287,485)
_______
Shareholders deficit ( 287,484)
_______
For the period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 July 2024 , and are signed on behalf of the board by:
Matthew Harrison
Director
Company registration number: 14535269
Globalreach Integrated Services Limited
Statement of changes in equity
Period ended 31 January 2024
Called up share capital Profit and loss account Total
£ £ £
At 12 December 2022 - - -
Loss for the period ( 287,485) ( 287,485)
_______ _______ _______
Total comprehensive income for the period - ( 287,485) ( 287,485)
Issue of shares 1 1
_______ _______ _______
Total investments by and distributions to owners 1 - 1
_______ _______ _______
At 31 January 2024 1 ( 287,485) ( 287,484)
_______ _______ _______
Globalreach Integrated Services Limited
Notes to the financial statements
Period ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Four Column, Broughton Hall Business Park, Broughton Hall, Skipton, BD23 3AE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director has given assurances that he will continue to support the company financially and will not demand repayment of his loan account in the foreseeable future. He therefore considers that despite the net liability position, the company is still a going concern.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, 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.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingl.Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 7
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 12 December 2022 - - - -
Additions ( 6,326) 14,750 60,000 68,424
_______ _______ _______ _______
At 31 January 2024 ( 6,326) 14,750 60,000 68,424
_______ _______ _______ _______
Depreciation
At 12 December 2022 - - - -
Charge for the year - 438 3,291 3,729
_______ _______ _______ _______
At 31 January 2024 - 438 3,291 3,729
_______ _______ _______ _______
Carrying amount
At 31 January 2024 ( 6,326) 14,312 56,709 64,695
_______ _______ _______ _______
6. Debtors
31/01/24
£
Trade debtors 26,280
Other debtors 27,510
_______
53,790
_______
7. Creditors: amounts falling due within one year
31/01/24
£
Trade creditors 10,627
Social security and other taxes 12,739
Other creditors 242,755
_______
266,121
_______
8. Creditors: amounts falling due after more than one year
31/01/24
£
Other creditors 145,646
_______