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REGISTERED NUMBER: 08711416 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Globavista Ltd

Globavista Ltd (Registered number: 08711416)






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


Globavista Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M Hewish
L N Rhodin
S A Jones





REGISTERED OFFICE: 124 City Road
London
EC1V 2NX





REGISTERED NUMBER: 08711416 (England and Wales)





ACCOUNTANTS: Moore
Chartered Accountants
30 Gay Street
Bath
BA1 2PA

Globavista Ltd (Registered number: 08711416)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 629,726 549,803
Tangible assets 5 2,415 5,044
632,141 554,847

CURRENT ASSETS
Debtors 6 227,345 275,134
Cash at bank 22,546 334,586
249,891 609,720
CREDITORS
Amounts falling due within one year 7 560,982 562,938
NET CURRENT (LIABILITIES)/ASSETS (311,091 ) 46,782
TOTAL ASSETS LESS CURRENT
LIABILITIES

321,050

601,629

CREDITORS
Amounts falling due after more than
one year

8

192,572

232,406
NET ASSETS 128,478 369,223

Globavista Ltd (Registered number: 08711416)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 257 257
Share premium 1,715,475 1,715,475
Retained earnings (1,587,254 ) (1,346,509 )
SHAREHOLDERS' FUNDS 128,478 369,223

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.

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 Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





M Hewish - Director


Globavista Ltd (Registered number: 08711416)

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

1. STATUTORY INFORMATION

Globavista Ltd 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.

Going concern
Globavista continues to prepare regular business and cash flow forecasts to monitor progress and maintains close dialogue with its key stakeholders. After reviewing the company's forecasts and projections, the directors have a reasonable expectation the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its 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.

Intangible assets
Intellectual Property assets are being amortised evenly over their estimated useful lives of 3 years and 10 years.

Capitalised transaction fees are being amortised evenly over their estimated useful life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its
estimated useful life.

Fixtures and Fittings - 3 years straight line

Computer Equipment - 3 years straight line

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.


Globavista Ltd (Registered number: 08711416)

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

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

Globavista Ltd (Registered number: 08711416)

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

4. INTANGIBLE FIXED ASSETS
Capitalised
Intellectual Transaction
Property Fees Totals
£    £    £   
COST
At 1 January 2023 1,382,249 98,495 1,480,744
Additions 244,695 - 244,695
At 31 December 2023 1,626,944 98,495 1,725,439
AMORTISATION
At 1 January 2023 842,295 88,646 930,941
Amortisation for year 154,923 9,849 164,772
At 31 December 2023 997,218 98,495 1,095,713
NET BOOK VALUE
At 31 December 2023 629,726 - 629,726
At 31 December 2022 539,954 9,849 549,803

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 13,990
Additions 916
At 31 December 2023 14,906
DEPRECIATION
At 1 January 2023 8,946
Charge for year 3,545
At 31 December 2023 12,491
NET BOOK VALUE
At 31 December 2023 2,415
At 31 December 2022 5,044

Globavista Ltd (Registered number: 08711416)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 193,858 228,393
Prepayments and accrued income 33,487 46,741
227,345 275,134

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 39,833 36,320
Trade creditors 116,666 117,926
Social security and other taxes 17,309 20,733
Pension fund 5,681 6,620
VAT 15,465 10,392
Other creditors 172 -
Accruals and deferred income 365,856 370,947
560,982 562,938

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-5 years 184,029 176,026
Bank loans - more than 5 years 8,543 56,380
192,572 232,406

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - more than 5 years 8,543 56,380

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
7,228 Ordinary £0.01 72 72
18,500 Ordinary A £0.01 185 185
257 257

Globavista Ltd (Registered number: 08711416)

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

10. POST BALANCE SHEET EVENTS

Following the Balance Sheet date, the company are in the process of acquiring an additional unsecured loan facility to the sum of £330,000. The directors anticipate that the implementation of this facility will be completed before 31 October 2024.