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Registration number: 08168147

Global Conference Network Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Global Conference Network Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 4

 

Global Conference Network Limited

Company Information

Directors

R Ross Russell

C L Wormsley

Company secretary

S Ross Russell

Registered office

10 Egliston Road
London
SW15 1AL

 

Global Conference Network Limited

(Registration number: 08168147)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

122,862

138,205

Cash at bank and in hand

 

225,223

104,659

 

348,085

242,864

Creditors: Amounts falling due within one year

6

(333,312)

(206,169)

Net assets

 

14,773

36,695

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

13,773

35,695

Shareholders' funds

 

14,773

36,695

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 May 2025 and signed on its behalf by:
 

.........................................
R Ross Russell
Director

 

Global Conference Network Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England. The address of the registered office is given in the company information page of these financial statements.

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 for the year ended 31 August 2024 comply with Financial Reporting Standard 102 Section 1A small entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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:

 

Global Conference Network Limited

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

Asset class

Depreciation method and rate

Computer equipment

3 years straight line

3

Staff numbers

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

4

tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

417

417

At 31 August 2024

417

417

Depreciation

At 1 September 2023

417

417

At 31 August 2024

417

417

Carrying amount

At 31 August 2024

-

-

5

Debtors

Current

2024
£

2023
£

Trade debtors

68,854

57,293

Prepayments

32,891

64,762

Other debtors

21,117

16,150

 

122,862

138,205

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

28,468

17,986

Accruals and deferred income

301,148

182,360

Other creditors

3,696

5,823

333,312

206,169