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Registration number: 08700678

Global Exhibit Solutions Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Global Exhibit Solutions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Global Exhibit Solutions Limited

Company Information

Director

Mr N Cave

Registered office

Unit 6 Brindleys Business Park
Chaseside Drive
Cannock
WS11 7GD

Accountants

Erdingsworth Business & Tax Advisors Unit 3 Cuckoo Wharf
427 Lichfield Road
Birmingham
B6 7SS

 

Global Exhibit Solutions Limited

(Registration number: 08700678)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

38,563

43,398

Current assets

 

Debtors

5

85,440

126,743

Cash at bank and in hand

 

29,100

12,573

 

114,540

139,316

Creditors: Amounts falling due within one year

6

(63,442)

(62,805)

Net current assets

 

51,098

76,511

Total assets less current liabilities

 

89,661

119,909

Creditors: Amounts falling due after more than one year

6

(92,017)

(61,266)

Net (liabilities)/assets

 

(2,356)

58,643

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(2,357)

58,642

Shareholders' (deficit)/funds

 

(2,356)

58,643

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 February 2025
 

.........................................
Mr N Cave
Director

 

Global Exhibit Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 6 Brindleys Business Park
Chaseside Drive
Cannock
WS11 7GD

These financial statements were authorised for issue by the director on 18 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Global Exhibit Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% Reducing Balance

Office Equipment

15% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Global Exhibit Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 1).

 

Global Exhibit Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2023

-

-

833

56,920

Additions

131

7,794

-

-

At 31 March 2024

131

7,794

833

56,920

Depreciation

At 1 April 2023

-

-

125

14,230

Charge for the year

33

1,949

106

10,672

At 31 March 2024

33

1,949

231

24,902

Carrying amount

At 31 March 2024

98

5,845

602

32,018

At 31 March 2023

-

-

708

42,690

Total
£

Cost or valuation

At 1 April 2023

57,753

Additions

7,925

At 31 March 2024

65,678

Depreciation

At 1 April 2023

14,355

Charge for the year

12,760

At 31 March 2024

27,115

Carrying amount

At 31 March 2024

38,563

At 31 March 2023

43,398

5

Debtors

 

Global Exhibit Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Debtors (continued)

Current

2024
£

2023
£

Trade debtors

44,257

83,172

Prepayments

17,312

17,211

Other debtors

23,871

26,360

 

85,440

126,743

 

Global Exhibit Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

9,388

9,388

Trade creditors

 

28,535

32,257

Taxation and social security

 

15,815

19,195

Accruals and deferred income

 

800

650

Other creditors

 

8,904

1,315

 

63,442

62,805

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

92,017

61,266

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

79,500

32,029

Hire purchase contracts

12,517

21,905

Other borrowings

-

7,332

92,017

61,266

Current loans and borrowings

 

Global Exhibit Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

8

Loans and borrowings (continued)

2024
£

2023
£

Hire purchase contracts

9,388

9,388

Other borrowings

Included within other creditors is a hire purchase liability of is denominated in GBP with a nominal interest rate of %. The carrying amount at year end is £Nil (2023 - £31,293).

This is secured on the fixed assets of the company