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REGISTERED NUMBER: 08278913 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

Global Partnership Assets Ltd

Global Partnership Assets Ltd (Registered number: 08278913)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Global Partnership Assets Ltd

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: R J Hardacre
G Davies
A J Partington





SECRETARY:





REGISTERED OFFICE: 2A Lighthouse Tradepark
Church Road
Lydney
Gloucestershire
GL155EN





REGISTERED NUMBER: 08278913 (England and Wales)





ACCOUNTANTS: Knights
2A Lighthouse Trade Park
Lydney
21 Highnam Business Centre
Highnam
Gloucestershire
GL2 8DN

Global Partnership Assets Ltd (Registered number: 08278913)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 400,000 400,000

CURRENT ASSETS
Debtors 5 141,089 134,784
Cash at bank 8,356 196
149,445 134,980
CREDITORS
Amounts falling due within one year 6 357,628 350,433
NET CURRENT LIABILITIES (208,183 ) (215,453 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,817

184,547

CREDITORS
Amounts falling due after more than one
year

7

123,372

139,248
NET ASSETS 68,445 45,299

CAPITAL AND RESERVES
Called up share capital 120 120
Revaluation reserve 8 12,314 12,314
Retained earnings 8 56,011 32,865
SHAREHOLDERS' FUNDS 68,445 45,299

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Partnership Assets Ltd (Registered number: 08278913)

BALANCE SHEET - continued
30 NOVEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2025 and were signed on its behalf by:





R J Hardacre - Director


Global Partnership Assets Ltd (Registered number: 08278913)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

Global Partnership Assets Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 December 2023
and 30 November 2024 400,000
NET BOOK VALUE
At 30 November 2024 400,000
At 30 November 2023 400,000

Global Partnership Assets Ltd (Registered number: 08278913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

4. TANGIBLE FIXED ASSETS - continued

Included in cost or valuation of land and buildings is freehold land of £ 400,000 (2023 - £ 400,000 ) which is not depreciated.

Cost or valuation at 30 November 2024 is represented by:

Land and
buildings
£   
Valuation in 2017 400,000

If Investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 387,686 387,686

Value of land in freehold land and buildings 387,686 387,686

Investment property was valued on an open market value basis on 30 November 2017 by the Directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 141,089 134,784

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 150
Taxation and social security 5,429 5,023
Other creditors 352,199 345,260
357,628 350,433

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 6,222 10,248
Other creditors 117,150 129,000
123,372 139,248

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Shareholders Loan Account 117,150 129,000

Global Partnership Assets Ltd (Registered number: 08278913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 December 2023 32,865 12,314 45,179
Profit for the year 23,146 23,146
At 30 November 2024 56,011 12,314 68,325