Company Registration No. 12383618 (England and Wales)
GLOBAL BUSINESS ASSOCIATES LTD
Unaudited accounts
for the year ended 31 January 2024
GLOBAL BUSINESS ASSOCIATES LTD
Unaudited accounts
Contents
GLOBAL BUSINESS ASSOCIATES LTD
Company Information
for the year ended 31 January 2024
Company Number
12383618 (England and Wales)
Registered Office
Unit 1, 58 Oakland's Park House
Oakland's Park Avenue
Ilford
Essex
IG1 1TG
Accountants
THN Accountants
Gable House, Suite C, Room 5
1 Balfour Road
Ilford
IG1 4HP
GLOBAL BUSINESS ASSOCIATES LTD
Statement of financial position
as at 31 January 2024
Tangible assets
17,762
4,978
Cash at bank and in hand
144,249
79,679
Creditors: amounts falling due within one year
(168,721)
(67,107)
Net current assets
66,971
22,831
Called up share capital
1
1
Profit and loss account
84,732
27,808
Shareholders' funds
84,733
27,809
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 October 2024 and were signed on its behalf by
Rahaman Hasan
Director
Company Registration No. 12383618
GLOBAL BUSINESS ASSOCIATES LTD
Notes to the Accounts
for the year ended 31 January 2024
GLOBAL BUSINESS ASSOCIATES LTD is a private company, limited by shares, registered in England and Wales, registration number 12383618. The registered office is Unit 1, 58 Oakland's Park House, Oakland's Park Avenue, Ilford, Essex, IG1 1TG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance
Computer equipment
20% reducing balance
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2023
2,801
3,881
6,682
Additions
3,429
13,795
17,224
At 31 January 2024
6,230
17,676
23,906
At 1 February 2023
928
776
1,704
Charge for the year
1,060
3,380
4,440
At 31 January 2024
1,988
4,156
6,144
At 31 January 2024
4,242
13,520
17,762
At 31 January 2023
1,873
3,105
4,978
GLOBAL BUSINESS ASSOCIATES LTD
Notes to the Accounts
for the year ended 31 January 2024
Amounts falling due within one year
Other debtors
81,462
10,259
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
29,466
27,999
7
Transactions with related parties
Other debtors amount of £81,462 falling due within one year on notes 5 (Debtors) are related party transactions, interest is payable on demand.
8
Average number of employees
During the year the average number of employees was 52 (2023: 31).