1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 225,000 210,762 7,119 217,881 7,119 14,238 xbrli:pure xbrli:shares iso4217:GBP 07162333 2023-03-01 2024-02-29 07162333 2024-02-29 07162333 2023-02-28 07162333 2022-03-01 2023-02-28 07162333 2023-02-28 07162333 2022-02-28 07162333 core:NetGoodwill 2023-03-01 2024-02-29 07162333 core:FurnitureFittings 2023-03-01 2024-02-29 07162333 core:MotorVehicles 2023-03-01 2024-02-29 07162333 bus:Director1 2023-03-01 2024-02-29 07162333 core:NetGoodwill 2023-02-28 07162333 core:NetGoodwill 2024-02-29 07162333 core:FurnitureFittings 2023-02-28 07162333 core:MotorVehicles 2023-02-28 07162333 core:FurnitureFittings 2024-02-29 07162333 core:MotorVehicles 2024-02-29 07162333 core:WithinOneYear 2024-02-29 07162333 core:WithinOneYear 2023-02-28 07162333 core:ShareCapital 2024-02-29 07162333 core:ShareCapital 2023-02-28 07162333 core:RetainedEarningsAccumulatedLosses 2024-02-29 07162333 core:RetainedEarningsAccumulatedLosses 2023-02-28 07162333 core:NetGoodwill 2023-02-28 07162333 core:FurnitureFittings 2023-02-28 07162333 core:MotorVehicles 2023-02-28 07162333 bus:SmallEntities 2023-03-01 2024-02-29 07162333 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 07162333 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07162333 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07162333 bus:FullAccounts 2023-03-01 2024-02-29 07162333 core:ComputerEquipment 2023-03-01 2024-02-29 07162333 core:ComputerEquipment 2023-02-28 07162333 core:ComputerEquipment 2024-02-29
COMPANY REGISTRATION NUMBER: 07162333
GLOBUS LONDON LIMITED
Filleted Unaudited Financial Statements
29 February 2024
GLOBUS LONDON LIMITED
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
7,119
14,238
Tangible assets
6
30,712
35,681
--------
--------
37,831
49,919
Current assets
Debtors
7
535,000
5,176
Investments
8
55,343
67,641
Cash at bank and in hand
76,509
303,166
---------
---------
666,852
375,983
Creditors: amounts falling due within one year
9
96,154
39,222
---------
---------
Net current assets
570,698
336,761
---------
---------
Total assets less current liabilities
608,529
386,680
---------
---------
Net assets
608,529
386,680
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
608,429
386,580
---------
---------
Shareholders funds
608,529
386,680
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GLOBUS LONDON LIMITED
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 27 January 2025 , and are signed on behalf of the board by:
K Ghufoor
Director
Company registration number: 07162333
GLOBUS LONDON LIMITED
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 792 Wickham Road, Croydon, Surrey, CR0 8EA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
25% reducing balance
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
20% reducing balance
Equipment
-
20% reducing balance
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 March 2023 and 29 February 2024
225,000
---------
Amortisation
At 1 March 2023
210,762
Charge for the year
7,119
---------
At 29 February 2024
217,881
---------
Carrying amount
At 29 February 2024
7,119
---------
At 28 February 2023
14,238
---------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 March 2023
20,705
49,340
23,196
93,241
Additions
2,709
2,709
--------
--------
--------
--------
At 29 February 2024
20,705
49,340
25,905
95,950
--------
--------
--------
--------
Depreciation
At 1 March 2023
16,803
24,078
16,679
57,560
Charge for the year
781
5,052
1,845
7,678
--------
--------
--------
--------
At 29 February 2024
17,584
29,130
18,524
65,238
--------
--------
--------
--------
Carrying amount
At 29 February 2024
3,121
20,210
7,381
30,712
--------
--------
--------
--------
At 28 February 2023
3,902
25,262
6,517
35,681
--------
--------
--------
--------
7. Debtors
2024
2023
£
£
Trade debtors
535,000
Other debtors
5,176
---------
-------
535,000
5,176
---------
-------
8. Investments
2024
2023
£
£
ASI London Clinician LLP investment
55,343
67,641
--------
--------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
714
176
Corporation tax
74,980
35,588
Social security and other taxes
157
155
Other creditors
20,303
3,303
--------
--------
96,154
39,222
--------
--------
10. Director's advances, credits and guarantees
2024 2023
£ £
(advances)/credits
Director Loan Accounts 12,340 (5,176)
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