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REGISTERED NUMBER: 01990307 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

GLOBAL STRATEGIC RESOURCES LIMITED

GLOBAL STRATEGIC RESOURCES LIMITED (REGISTERED NUMBER: 01990307)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLOBAL STRATEGIC RESOURCES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: N P Cremin



REGISTERED OFFICE: The Galleries
Charters Road
Sunningdale
Ascot
Berkshire
SL5 9QJ



REGISTERED NUMBER: 01990307 (England and Wales)



ACCOUNTANTS: Davis Burton Sellek
Chartered Accountants
The Galleries
Charters Road
Sunningdale
Berkshire
SL5 9QJ



BANKERS: Coutts & Co
St Martins Lane
440 Strand
London
WC2R 0QS

GLOBAL STRATEGIC RESOURCES LIMITED (REGISTERED NUMBER: 01990307)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 77 537
Investments 5 - -
77 537

CURRENT ASSETS
Debtors 6 32,340 32,152
Cash at bank 56 92
32,396 32,244
CREDITORS
Amounts falling due within one year 7 272,364 264,709
NET CURRENT LIABILITIES (239,968 ) (232,465 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(239,891

)

(231,928

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (239,991 ) (232,028 )
SHAREHOLDERS' FUNDS (239,891 ) (231,928 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 STRATEGIC RESOURCES LIMITED (REGISTERED NUMBER: 01990307)

BALANCE SHEET - continued
29 FEBRUARY 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 November 2024 and were signed by:





N P Cremin - Director


GLOBAL STRATEGIC RESOURCES LIMITED (REGISTERED NUMBER: 01990307)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Global Strategic Resources 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.

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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Going concern
The financial statements have been prepared on the going concern basis, however, the company is reliant on the director's continued financial support. Despite the deficit of net assets at the balance sheet date, the director, who is the sole shareholder, confirms his belief in the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of the financial statements.

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 - 15% on cost
Computer equipment - 33% on cost

GLOBAL STRATEGIC RESOURCES LIMITED (REGISTERED NUMBER: 01990307)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Equity instruments
Equity instruments issued by the company are recorded at proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.


GLOBAL STRATEGIC RESOURCES LIMITED (REGISTERED NUMBER: 01990307)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 4,445 2,685 7,130
DEPRECIATION
At 1 March 2023 3,908 2,685 6,593
Charge for year 460 - 460
At 29 February 2024 4,368 2,685 7,053
NET BOOK VALUE
At 29 February 2024 77 - 77
At 28 February 2023 537 - 537

5. FIXED ASSET INVESTMENTS

In March 2016, Global Strategic Resources Limited acquired 1,428 Ordinary shares in Energease Limited, a company registered in Malta. The company still retains title to these shares at the year end date of 28 February 2024 but no value is included in the balance sheet as no consideration was exchanged by Global Strategic Resources Limited on acquisition. The capital and reserves of Energease Ltd in the latest filed accounts for 31/12/2019 are £1,874,313 (2018 : £1,705,136) and the loss for the year ended 31/12/2019 is £251,917 (2018 : £24,846). The capital and reserves of Energease Ltd in the latest draft accounts for 31/12/2023 are £(936,838) (2022 : £(946,617)) and the loss for the year ended 31/12/2023 is £8,943 (2022 : £146,480).

GLOBAL STRATEGIC RESOURCES LIMITED (REGISTERED NUMBER: 01990307)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 32,340 32,152

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,840 6,200
Other creditors 267,524 258,509
272,364 264,709