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Registered number: 08266326
Global Business Club Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Savvy Accounting
25 Eccleston Place
London
SW1W 9NF
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 08266326
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,849 14,341
15,849 14,341
CURRENT ASSETS
Debtors 5 477,082 238,647
Cash at bank and in hand 222,103 599,477
699,185 838,124
Creditors: Amounts Falling Due Within One Year 6 (583,345 ) (733,026 )
NET CURRENT ASSETS (LIABILITIES) 115,840 105,098
TOTAL ASSETS LESS CURRENT LIABILITIES 131,689 119,439
Creditors: Amounts Falling Due After More Than One Year 7 - (3,636 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,775 ) (2,775 )
NET ASSETS 128,914 113,028
CAPITAL AND RESERVES
Called up share capital 9 11 11
Income Statement 128,903 113,017
SHAREHOLDERS' FUNDS 128,914 113,028
Page 1
Page 2
For the year ending 31 March 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Jivko Gadjourov
Director
22nd November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Global Business Club Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08266326 . The registered office is Screenworks 22 Highbury Grove, Office 320, London, N5 2ER.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 33% on reducing balance
Fixtures & Fittings 25% on cost
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 11)
10 11
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 41,238 15,830 18,273 75,341
Additions - - 6,306 6,306
As at 31 March 2024 41,238 15,830 24,579 81,647
Depreciation
As at 1 April 2023 28,107 15,447 17,446 61,000
Provided during the period 3,283 192 1,323 4,798
As at 31 March 2024 31,390 15,639 18,769 65,798
Net Book Value
As at 31 March 2024 9,848 191 5,810 15,849
As at 1 April 2023 13,131 383 827 14,341
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 3,636 7,593
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 76,918 110,752
Other debtors 400,164 127,895
477,082 238,647
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,636 2,992
Trade creditors 100 42,875
Other creditors 525,480 681,545
Taxation and social security 54,129 5,614
583,345 733,026
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 3,636
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,636 2,992
Later than one year and not later than five years - 3,636
3,636 6,628
3,636 6,628
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 11 11
Page 5