Company registration number 09121025 (England and Wales)
GLOBAL CARPET ECOMMERCE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
GLOBAL CARPET ECOMMERCE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
GLOBAL CARPET ECOMMERCE LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,939
3,100
Current assets
Stocks
69,752
126,098
Debtors
5
27,103
33,184
Cash at bank and in hand
12,211
2,269
109,066
161,551
Creditors: amounts falling due within one year
6
(386,892)
(395,086)
Net current liabilities
(277,826)
(233,535)
Net liabilities
(274,887)
(230,435)
Capital and reserves
Called up share capital
20,000
20,000
Profit and loss reserves
(294,887)
(250,435)
Total equity
(274,887)
(230,435)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 16 September 2024
Mr Sebastian Kissler
Director
Company registration number 09121025 (England and Wales)
GLOBAL CARPET ECOMMERCE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Global Carpet Ecommerce Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 38F, Lindisfarne Court, Bede Industrial Estate, Jarrow, Tyne and Wear, England, NE32 3HG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
- 20% straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
- 12.5% reducing balance
Computers
- 20% straight line
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

GLOBAL CARPET ECOMMERCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Intangible fixed assets
Other
£
Cost
At 1 January 2023 and 31 December 2023
32,276
Amortisation and impairment
At 1 January 2023 and 31 December 2023
32,276
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
GLOBAL CARPET ECOMMERCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
8,050
Additions
378
At 31 December 2023
8,428
Depreciation and impairment
At 1 January 2023
4,950
Depreciation charged in the year
539
At 31 December 2023
5,489
Carrying amount
At 31 December 2023
2,939
At 31 December 2022
3,100
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
3,064
7,694
Amounts owed by group undertakings
40
16
Other debtors
23,999
25,474
27,103
33,184
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
131
1,354
Trade creditors
382,701
383,699
Taxation and social security
201
3,251
Other creditors
3,859
6,782
386,892
395,086
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