IRIS Accounts Production v24.1.9.2 11419716 director 1.7.23 30.6.24 30.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh114197162023-06-30114197162024-06-30114197162023-07-012024-06-30114197162022-06-30114197162022-07-012023-06-30114197162023-06-3011419716ns15:EnglandWales2023-07-012024-06-3011419716ns14:PoundSterling2023-07-012024-06-3011419716ns10:Director12023-07-012024-06-3011419716ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3011419716ns10:SmallEntities2023-07-012024-06-3011419716ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3011419716ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3011419716ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3011419716ns10:FullAccounts2023-07-012024-06-3011419716ns10:RegisteredOffice2023-07-012024-06-3011419716ns5:CurrentFinancialInstruments2024-06-3011419716ns5:CurrentFinancialInstruments2023-06-3011419716ns5:ShareCapital2024-06-3011419716ns5:ShareCapital2023-06-3011419716ns5:RetainedEarningsAccumulatedLosses2024-06-3011419716ns5:RetainedEarningsAccumulatedLosses2023-06-3011419716ns5:PlantMachinery2023-07-012024-06-3011419716ns5:FurnitureFittings2023-07-012024-06-3011419716ns5:MotorVehicles2023-07-012024-06-3011419716ns5:ComputerEquipment2023-07-012024-06-3011419716ns5:PlantMachinery2023-06-3011419716ns5:FurnitureFittings2023-06-3011419716ns5:MotorVehicles2023-06-3011419716ns5:ComputerEquipment2023-06-3011419716ns5:PlantMachinery2024-06-3011419716ns5:FurnitureFittings2024-06-3011419716ns5:MotorVehicles2024-06-3011419716ns5:ComputerEquipment2024-06-3011419716ns5:PlantMachinery2023-06-3011419716ns5:FurnitureFittings2023-06-3011419716ns5:MotorVehicles2023-06-3011419716ns5:ComputerEquipment2023-06-3011419716ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-06-3011419716ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3011419716ns5:DeferredTaxation2023-06-3011419716ns5:DeferredTaxation2023-07-012024-06-3011419716ns5:DeferredTaxation2024-06-30
REGISTERED NUMBER: 11419716 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

GLOBAL DIRECT SOURCING LIMITED

GLOBAL DIRECT SOURCING LIMITED (REGISTERED NUMBER: 11419716)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GLOBAL DIRECT SOURCING LIMITED

Company Information
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: Mr Alpay Hassan





REGISTERED OFFICE: 293 Green Lanes
London
Palmers Green
N13 4XS





REGISTERED NUMBER: 11419716 (England and Wales)





ACCOUNTANTS: ADPL LLP
Chartered Certified Accountants
& Business Advisers
Ernest House
293 Green Lanes
Palmers Green
London
N13 4XS

GLOBAL DIRECT SOURCING LIMITED (REGISTERED NUMBER: 11419716)

Balance Sheet
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,512 15,640

CURRENT ASSETS
Debtors 5 48,251 52,655
Cash at bank 12,847 34,044
61,098 86,699
CREDITORS
Amounts falling due within one year 6 11,868 3,690
NET CURRENT ASSETS 49,230 83,009
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,742

98,649

PROVISIONS FOR LIABILITIES 7 2,377 2,972
NET ASSETS 59,365 95,677

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 59,265 95,577
59,365 95,677

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2024 and were signed by:



Mr Alpay Hassan - Director


GLOBAL DIRECT SOURCING LIMITED (REGISTERED NUMBER: 11419716)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Global Direct Sourcing 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.

In carrying out this assessment, the directors have considered the impact of the Covid-19 pandemic on the trade and finances of the company and wider group and they have taken steps to protect liquidity.

The directors are therefore satisfied that there is no significant risk to the ability of the company to continue as a going concern for at least 12 months from the date of approval of these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

GLOBAL DIRECT SOURCING LIMITED (REGISTERED NUMBER: 11419716)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023
and 30 June 2024 7,000 3,050 14,961 1,291 26,302
DEPRECIATION
At 1 July 2023 3,416 1,098 5,386 762 10,662
Charge for year 717 390 1,915 106 3,128
At 30 June 2024 4,133 1,488 7,301 868 13,790
NET BOOK VALUE
At 30 June 2024 2,867 1,562 7,660 423 12,512
At 30 June 2023 3,584 1,952 9,575 529 15,640

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 23,779 25,000
Other debtors 24,472 27,655
48,251 52,655

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 1 1
Taxation and social security 1,242 3,685
Other creditors 10,625 4
11,868 3,690

7. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 2,377 2,972

GLOBAL DIRECT SOURCING LIMITED (REGISTERED NUMBER: 11419716)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2023 2,972
Provided during year (595 )
Balance at 30 June 2024 2,377