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REGISTERED NUMBER: 05143188 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Global Computer Spares Ltd

Global Computer Spares Ltd (Registered number: 05143188)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Global Computer Spares Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: P Heneke





SECRETARY: S Kerby





REGISTERED OFFICE: 36 Cambridge Road
Hastings
East Sussex
TN34 1DU





REGISTERED NUMBER: 05143188 (England and Wales)





ACCOUNTANTS: Deeks Evans Audit Services Limited
Chartered Accountants
36 Cambridge Road
Hastings
East Sussex
TN34 1DU

Global Computer Spares Ltd (Registered number: 05143188)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,032 9,186
7,032 9,186

CURRENT ASSETS
Stocks 217,532 246,424
Debtors 6 178,171 189,817
Cash at bank 12,655 73,719
408,358 509,960
CREDITORS
Amounts falling due within one year 7 257,947 206,491
NET CURRENT ASSETS 150,411 303,469
TOTAL ASSETS LESS CURRENT
LIABILITIES

157,443

312,655

CREDITORS
Amounts falling due after more than one
year

8

(45,174

)

(62,289

)

PROVISIONS FOR LIABILITIES - (2,300 )
NET ASSETS 112,269 248,066

CAPITAL & RESERVES
Called up share capital 11 1 1
Retained earnings 112,268 248,065
SHAREHOLDERS' FUNDS 112,269 248,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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

Global Computer Spares Ltd (Registered number: 05143188)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 17 October 2024 and were signed by:





P Heneke - Director


Global Computer Spares Ltd (Registered number: 05143188)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Global Computer Spares 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.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Turnover is recognised when the significant risks and rewards are transferred to the buyer, which is when they have accepted physical delivery and control of the goods. No revenue is recognised if there are significant uncertainties regarding the recovery of the amount due.

Goodwill
Acquired goodwill has been fully amortised..

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the lease term
Fixtures fittings and equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stock
Stock is valued at the lower of cost and estimated selling price.

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.

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.

Global Computer Spares Ltd (Registered number: 05143188)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 8,000
AMORTISATION
At 1 April 2023
and 31 March 2024 8,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
fittings
Short and Motor
leasehold equipment vehicles Totals
£    £    £    £   
COST
At 1 April 2023 36,861 31,677 18,235 86,773
Additions - 190 - 190
At 31 March 2024 36,861 31,867 18,235 86,963
DEPRECIATION
At 1 April 2023 36,861 28,261 12,465 77,587
Charge for year - 902 1,442 2,344
At 31 March 2024 36,861 29,163 13,907 79,931
NET BOOK VALUE
At 31 March 2024 - 2,704 4,328 7,032
At 31 March 2023 - 3,416 5,770 9,186

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 169,233 189,109
Other debtors 2,818 -
Prepayments 6,120 708
178,171 189,817

Global Computer Spares Ltd (Registered number: 05143188)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans & overdrafts 16,667 16,667
Hire purchase contracts (see note 9) - 3,642
Trade creditors 159,606 141,506
Corporation tax - 2,818
Social security & other taxes 4,240 19,802
Other creditors 8,828 12,891
Invoice financing loan 56,660 -
Director's current account 2,716 217
Accruals 9,230 8,948
257,947 206,491

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 16,667 16,667
Bank loans - 2-5 years 28,507 43,714
Hire purchase contracts (see note 9) - 1,908
45,174 62,289

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 3,642
Between one and five years - 1,908
- 5,550

Non-cancellable operating leases
2024 2023
£    £   
Within one year - 431

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 61,841 77,048

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1