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REGISTERED NUMBER: 04467019 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

GLOBAL INSULATION (EUROPEAN)
LIMITED

GLOBAL INSULATION (EUROPEAN)
LIMITED (REGISTERED NUMBER: 04467019)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLOBAL INSULATION (EUROPEAN)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: Mr L Gowers





SECRETARY: Mrs V Gowers





REGISTERED OFFICE: Murrills House
48 East Street
Portchester
Fareham
Hampshire
PO16 9XS





BUSINESS ADDRESS: Unit 84 Station Road
Hayling Island
Hampshire
PO11 0EL





REGISTERED NUMBER: 04467019 (England and Wales)





ACCOUNTANTS: BK Plus Limited
Chartered Accountants
Murrills House
48 East Street
Portchester
Fareham
Hampshire
PO16 9XS

GLOBAL INSULATION (EUROPEAN)
LIMITED (REGISTERED NUMBER: 04467019)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,820 16,562

CURRENT ASSETS
Debtors 5 18,711 26,907
Cash at bank 41,463 56,879
60,174 83,786
CREDITORS
Amounts falling due within one year 6 34,120 24,673
NET CURRENT ASSETS 26,054 59,113
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,874

75,675

PROVISIONS FOR LIABILITIES 2,436 3,147
NET ASSETS 36,438 72,528

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 36,338 72,428
SHAREHOLDERS' FUNDS 36,438 72,528

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 INSULATION (EUROPEAN)
LIMITED (REGISTERED NUMBER: 04467019)

BALANCE SHEET - continued
30 JUNE 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 7 October 2024 and were signed by:





Mr L Gowers - Director


GLOBAL INSULATION (EUROPEAN)
LIMITED (REGISTERED NUMBER: 04467019)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Global Insulation (European) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 amounts receivable for industrial and marine thermal insulation services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

GLOBAL INSULATION (EUROPEAN)
LIMITED (REGISTERED NUMBER: 04467019)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 17,156 29,827 46,983
DEPRECIATION
At 1 July 2023 13,177 17,244 30,421
Charge for year 597 3,145 3,742
At 30 June 2024 13,774 20,389 34,163
NET BOOK VALUE
At 30 June 2024 3,382 9,438 12,820
At 30 June 2023 3,979 12,583 16,562

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,745 24,540
Other debtors 6,966 2,367
18,711 26,907

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 7) 245 2,942
Trade creditors 17,687 9,517
Taxation and social security 740 10,760
Other creditors 15,448 1,454
34,120 24,673

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 245 2,942

GLOBAL INSULATION (EUROPEAN)
LIMITED (REGISTERED NUMBER: 04467019)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 12,000 12,000
Between one and five years 3,000 3,000
15,000 15,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 245 2,942

Hire purchase contracts are secured over the assets to which they relate.