Global Torchlight Limited
Registered number: 07907375
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Current assets
Debtors 3 21,780 16,079
Cash at bank and in hand 113,718 120,023
135,498 136,102
Creditors: amounts falling due within one year 4 (53,880) (47,062)
Net current assets 81,618 89,040
Net assets 81,618 89,040
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 80,618 88,040
Shareholder's funds 81,618 89,040
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D.Chmiel
Director
Approved by the board on 26 March 2025
Global Torchlight Limited
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
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.
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2025 2024
£ £
Trade debtors 21,780 15,120
Other debtors - 959
21,780 16,079
4 Creditors: amounts falling due within one year 2025 2024
£ £
Corporation tax 7,663 8,900
Loan from Director 38,000 34,000
Other taxes and social security costs 6,320 3,312
Other creditors 1,897 850
53,880 47,062
5 Related party transactions
During the year a dividend of £40,000 was paid to the sole shareholder / director of the company.
6 Other information
Global Torchlight Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Scapel
18th Floor
52 Lime Street
London
EC3M 7AF
Global Torchlight Limited 07907375 false 2024-02-01 2025-01-31 2025-01-31 VT Final Accounts July 2024 D.Chmiel No description of principal activity 07907375 2023-02-01 2024-01-31 07907375 core:WithinOneYear 2024-01-31 07907375 core:ShareCapital 2024-01-31 07907375 core:RetainedEarningsAccumulatedLosses 2024-01-31 07907375 2024-02-01 2025-01-31 07907375 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 07907375 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 07907375 bus:Director40 2024-02-01 2025-01-31 07907375 1 2024-02-01 2025-01-31 07907375 2 2024-02-01 2025-01-31 07907375 countries:England 2024-02-01 2025-01-31 07907375 bus:FRS102 2024-02-01 2025-01-31 07907375 bus:FilletedAccounts 2024-02-01 2025-01-31 07907375 2025-01-31 07907375 core:WithinOneYear 2025-01-31 07907375 core:ShareCapital 2025-01-31 07907375 core:RetainedEarningsAccumulatedLosses 2025-01-31 07907375 2024-01-31 iso4217:GBP xbrli:pure