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GLH EUROPEAN LIMITED

Registered Number
11344772
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

GLH EUROPEAN LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

GIBBS, Adrian John

Registered Address

Mad About Bookkeeping Ltd Wolfe Mead
Farnham Road
Bordon
GU35 0NH

Registered Number

11344772 (England and Wales)
GLH EUROPEAN LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3179,992142,453
179,992142,453
Current assets
Debtors4110,16255,876
Cash at bank and on hand28,18416,139
138,34672,015
Creditors amounts falling due within one year5(99,464)(40,348)
Net current assets (liabilities)38,88231,667
Total assets less current liabilities218,874174,120
Creditors amounts falling due after one year6(161,874)(103,951)
Provisions for liabilities7(12,281)(27,066)
Net assets44,71943,103
Capital and reserves
Called up share capital22
Profit and loss account44,71743,101
Shareholders' funds44,71943,103
The financial statements were approved and authorised for issue by the Director on 28 December 2024, and are signed on its behalf by:
GIBBS, Adrian John
Director
Registered Company No. 11344772
GLH EUROPEAN LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year34
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 June 2316,074174,192454190,720
Additions-97,896-97,896
Disposals-(47,179)-(47,179)
Transfers1--1
At 31 May 2416,075224,909454241,438
Depreciation and impairment
At 01 June 238,51639,42332848,267
Charge for year2,49133,8473236,370
On disposals-(23,189)-(23,189)
Other adjustments(2)--(2)
At 31 May 2411,00550,08136061,446
Net book value
At 31 May 245,070174,82894179,992
At 31 May 237,558134,769126142,453
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables25,52743,994
Other debtors16,9933,659
Prepayments and accrued income67,6428,223
Total110,16255,876
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables77,36314,703
Bank borrowings and overdrafts20,82324,380
Taxation and social security1515
Other creditors463500
Accrued liabilities and deferred income800750
Total99,46440,348
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts161,874103,951
Total161,874103,951
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)12,28127,066
Total12,28127,066