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Registered Number: 08834858
England and Wales

 

 

 

GLOBAL FORUM ON NICOTINE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Directors Grzegorz Krol
Bisola Edith Obileye
Registered Number 08834858
Registered Office 8
Northumberland Avenue
London
WC2N 5BY
Accountants Bisola Obileye Accounting Services
5 Heatherfold Way
Pinner
Middlesex
HA5 2LG
1
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts Global Forum On Nicotine Limited for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Global Forum On Nicotine Limited for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the Board of Directors of Global Forum On Nicotine Limited , as a body, in accordance with the terms of our engagement letter dated 02 November 2024. Our work has been undertaken solely to prepare for your approval the accounts of Global Forum On Nicotine Limited and state those matters that we have agreed to state to the Board of Directors of Global Forum On Nicotine Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Global Forum On Nicotine Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Global Forum On Nicotine Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit Global Forum On Nicotine Limited. You consider that Global Forum On Nicotine Limited is exempt from the statutory audit requirement for the year

We have not been instructed to carry out an audit or a review of the accounts of Global Forum On Nicotine Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Bisola Obileye
Bisola Obileye Accounting Services

5 Heatherfold Way
Pinner
Middlesex
HA5 2LG
02 November 2024
2
 
 
Notes
 
2024
£
  2023
£
Current assets      
Debtors: amounts falling due within one year 3 32,147    193,674 
Cash at bank and in hand 439,151    48,654 
471,298    242,328 
Creditors: amount falling due within one year 4 (465,362)   (231,367)
Net current assets 5,936    10,961 
 
Total assets less current liabilities 5,936    10,961 
Net assets 5,936    10,961 
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account 5,836    10,861 
Shareholders' funds 5,936    10,961 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 02 November 2024 and were signed on its behalf by:


-------------------------------
Grzegorz Krol
Director
3
General Information
Global Forum On Nicotine Limited is a private company, limited by shares, registered in England and Wales, registration number 08834858, registration address 8, Northumberland Avenue, London, WC2N 5BY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 4).
3.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 29,450    171,250 
Prepayments & Accrued Income 2,487    22,424 
Corporation Tax 210   
32,147    193,674 

4.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax   621 
Advance Paid 465,288    230,059 
Other Creditors (1)  
VAT 75    687 
465,362    231,367 

5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

4