IRIS Accounts Production v24.2.0.383 08805393 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh088053932022-12-31088053932023-12-31088053932023-01-012023-12-31088053932021-12-31088053932022-01-012022-12-31088053932022-12-3108805393ns15:EnglandWales2023-01-012023-12-3108805393ns14:PoundSterling2023-01-012023-12-3108805393ns10:Director12023-01-012023-12-3108805393ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3108805393ns10:SmallEntities2023-01-012023-12-3108805393ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3108805393ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3108805393ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3108805393ns10:FullAccounts2023-01-012023-12-3108805393ns10:Director22023-01-012023-12-3108805393ns10:RegisteredOffice2023-01-012023-12-3108805393ns5:CurrentFinancialInstruments2023-12-3108805393ns5:CurrentFinancialInstruments2022-12-3108805393ns5:Non-currentFinancialInstruments2023-12-3108805393ns5:Non-currentFinancialInstruments2022-12-3108805393ns5:ShareCapital2023-12-3108805393ns5:ShareCapital2022-12-3108805393ns5:RetainedEarningsAccumulatedLosses2023-12-3108805393ns5:RetainedEarningsAccumulatedLosses2022-12-3108805393ns5:PlantMachinery2022-12-3108805393ns5:PlantMachinery2023-01-012023-12-3108805393ns5:PlantMachinery2023-12-3108805393ns5:PlantMachinery2022-12-3108805393ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3108805393ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-31
REGISTERED NUMBER: 08805393 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Global Luxury Brands Limited

Global Luxury Brands Limited (Registered number: 08805393)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Global Luxury Brands Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: SR Willis
Mrs J Willis





REGISTERED OFFICE: Unit 3
Stone Enterprise Centre
Emerald Way
Stone
Staffordshire
ST15 0SR





REGISTERED NUMBER: 08805393 (England and Wales)





ACCOUNTANTS: RR Accountancy Ltd
Chartered Accountant
32 Leicester Street
Melton Mowbray
Leicestershire
LE13 0PP

Global Luxury Brands Limited (Registered number: 08805393)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,208 2,392

CURRENT ASSETS
Stocks 77,651 42,985
Debtors 5 42,463 35,685
Cash at bank 10,086 15,649
130,200 94,319
CREDITORS
Amounts falling due within one year 6 53,338 85,078
NET CURRENT ASSETS 76,862 9,241
TOTAL ASSETS LESS CURRENT
LIABILITIES

78,070

11,633

CREDITORS
Amounts falling due after more than one
year

7

(103,000

)

-

ACCRUALS AND DEFERRED INCOME (1,500 ) (1,000 )
NET (LIABILITIES)/ASSETS (26,430 ) 10,633

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (26,431 ) 10,632
(26,430 ) 10,633

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Global Luxury Brands Limited (Registered number: 08805393)

Balance Sheet - continued
31 December 2023


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 Statement of Income and Retained Earnings has not been delivered.

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





SR Willis - Director


Global Luxury Brands Limited (Registered number: 08805393)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Global Luxury Brands 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
The financial statements have been prepared on the going concern basis. The company has net liabilities
of £26,430 (2022 net assets: £10,633) but net current assets of £76,862 (2022: £9,241). The directors of the company have confirmed their continuing support for the company and believe it will be able to meet its
liabilities as they fall due.

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.

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

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Global Luxury Brands Limited (Registered number: 08805393)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 11,149
Additions 930
At 31 December 2023 12,079
DEPRECIATION
At 1 January 2023 8,757
Charge for year 2,114
At 31 December 2023 10,871
NET BOOK VALUE
At 31 December 2023 1,208
At 31 December 2022 2,392

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 29,400 32,543
Other debtors 13,063 3,142
42,463 35,685

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 29,371 50,277
Taxation and social security 1,011 4,892
Other creditors 22,956 29,909
53,338 85,078

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 103,000 -