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REGISTERED NUMBER: SC511278 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

GLOBAL EXECUTIVE MANAGEMENT SYSTEMS
LIMITED

GLOBAL EXECUTIVE MANAGEMENT SYSTEMS
LIMITED (REGISTERED NUMBER: SC511278)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

GLOBAL EXECUTIVE MANAGEMENT SYSTEMS
LIMITED

Company Information
for the Year Ended 31 July 2024







DIRECTORS: G K McCall
P Logue





REGISTERED OFFICE: 11 William Street
Greenock
Renfrewshire
PA15 1BT





REGISTERED NUMBER: SC511278 (Scotland)





ACCOUNTANTS: McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL

GLOBAL EXECUTIVE MANAGEMENT SYSTEMS
LIMITED (REGISTERED NUMBER: SC511278)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Investments 4 300,000 300,000

CURRENT ASSETS
Debtors 5 57,993 67,993

CREDITORS
Amounts falling due within one year 6 281,895 278,726
NET CURRENT LIABILITIES (223,902 ) (210,733 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,098

89,267

PROVISIONS FOR LIABILITIES 7 75,000 75,000
NET ASSETS 1,098 14,267

CAPITAL AND RESERVES
Called up share capital 8 88 88
Undistributable reserves 9 (20,088 ) (20,088 )
Retained earnings 9 21,098 34,267
SHAREHOLDERS' FUNDS 1,098 14,267

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 EXECUTIVE MANAGEMENT SYSTEMS
LIMITED (REGISTERED NUMBER: SC511278)

Balance Sheet - continued
31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





P Logue - Director


GLOBAL EXECUTIVE MANAGEMENT SYSTEMS
LIMITED (REGISTERED NUMBER: SC511278)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Global Executive Management Systems Limited is a private company, limited by shares , registered in Scotland. 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.

The accounts have been prepared on a going concern basis on the understanding that that the company's related parties continue to provide financial support.

Significant judgements and estimates
The preparation of the financial statements in compliance with FRS102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The directors are of the opinion that due to the nature of the business, there are no critical accounting estimates or judgements used in the preparation of these financial statements.

Investments in subsidiaries
The company's investment in VA Business Solutions Limited was revalued in July 2023 at fair value using relevant valuation techniques.

Financial instruments
Other debtors/creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate of measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the assets carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.


GLOBAL EXECUTIVE MANAGEMENT SYSTEMS
LIMITED (REGISTERED NUMBER: SC511278)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Provisions
A provision is recognised when the company has a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 August 2023
and 31 July 2024 300,000
NET BOOK VALUE
At 31 July 2024 300,000
At 31 July 2023 300,000

GLOBAL EXECUTIVE MANAGEMENT SYSTEMS
LIMITED (REGISTERED NUMBER: SC511278)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 July 2024 is represented by:

Shares in
group
undertakings
£   
Valuation in 2017 1,839,912
Valuation in 2019 (835,000 )
Valuation in 2020 (650,000 )
Valuation in 2023 (300,000 )
Cost 245,088
300,000

If investments had not been revalued they would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 245,088 245,088

Fixed asset investments were valued on a fair value basis on 31 July 2024 by the directors .

Global Executive Management Systems Limited owns 100% of VA Business Solutions Limited which in turn owns 100% of Value Adding Consultants Limited.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Amounts owed by group undertakings 57,993 67,993

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Amounts owed to group undertakings 281,895 278,440
Accrued expenses - 286
281,895 278,726

7. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 75,000 75,000

Deferred
tax
£   
Balance at 1 August 2023 75,000
Balance at 31 July 2024 75,000

GLOBAL EXECUTIVE MANAGEMENT SYSTEMS
LIMITED (REGISTERED NUMBER: SC511278)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
352 B Ordinary £0.10 35 35

Allotted and issued:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
528 A Ordinary share capital £0.10 53 53

9. RESERVES
Retained Undistributable
earnings reserves Totals
£    £    £   

At 1 August 2023 34,267 (20,088 ) 14,179
Profit for the year 146,831 146,831
Dividends (160,000 ) (160,000 )
At 31 July 2024 21,098 (20,088 ) 1,010

10. RELATED PARTY DISCLOSURES

During the year dividends of £160,000 were paid to the directors.

11. ULTIMATE CONTROLLING PARTY

George McCall is a director and owns 60% of Global Executive Management Systems Limited, he is therefore considered to be the ultimate controlling party.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Global Executive Management Systems
Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Global Executive Management Systems Limited for the year ended 31 July 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Global Executive Management Systems Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Global Executive Management Systems Limited and state those matters that we have agreed to state to the Board of Directors of Global Executive Management Systems Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Global Executive Management Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Global Executive Management Systems Limited. You consider that Global Executive Management Systems Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Global Executive Management Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL


25 April 2025