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COMPANY REGISTRATION NUMBER: 02643990
Global Mailing Limited
Filleted Unaudited Financial Statements
31 December 2024
Global Mailing Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
813
1,241
Current assets
Debtors
7
473,164
396,006
Cash at bank and in hand
400
26,408
---------
---------
473,564
422,414
Creditors: amounts falling due within one year
8
238,137
220,521
---------
---------
Net current assets
235,427
201,893
---------
---------
Total assets less current liabilities
236,240
203,134
Creditors: amounts falling due after more than one year
9
24,275
38,227
---------
---------
Net assets
211,965
164,907
---------
---------
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
201,965
154,907
---------
---------
Shareholders funds
211,965
164,907
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Global Mailing Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 30 April 2025 , and are signed on behalf of the board by:
Mr K Keating
Director
Company registration number: 02643990
Global Mailing Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 11 Market Trading Estate, Christopher Road, Southall, Middlesex, UB2 5YG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Intellectual property
-
100% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2023: 14 ).
5. Intangible assets
Patents, trademarks and licences
£
Cost
At 1 January 2024 and 31 December 2024
932
----
Amortisation
At 1 January 2024 and 31 December 2024
932
----
Carrying amount
At 31 December 2024
----
At 31 December 2023
----
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
87,101
84,944
172,045
--------
--------
---------
Depreciation
At 1 January 2024
85,940
84,864
170,804
Charge for the year
398
30
428
--------
--------
---------
At 31 December 2024
86,338
84,894
171,232
--------
--------
---------
Carrying amount
At 31 December 2024
763
50
813
--------
--------
---------
At 31 December 2023
1,161
80
1,241
--------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
185,586
114,857
Amounts owed by group undertakings and undertakings in which the company has a participating interest
242,921
237,893
Other debtors
44,657
43,256
---------
---------
473,164
396,006
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
96,333
24,273
Trade creditors
105,319
162,142
Social security and other taxes
24,135
24,376
Other creditors
12,350
9,730
---------
---------
238,137
220,521
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
24,275
38,227
--------
--------
This relates to a business loan taken out under the CBIL Scheme and is repayable by monthly installments up to June 2026.
10. Directors' advances, credits and guarantees
At the year-end the Director R Jazeel owed the company £225 (2023: NIL). The highest value outstanding during the year was £225.23 (2023: NIL) At the-year end the Director K Keating owed the company £193 (2023: NIL). The highest value outstanding during the year was £193 (2023: NIL).
11. Controlling party
The ultimate parent company is Seriesdetail Limited, a company registered in England and Wales. That company is under the control of the directors of Global Mailing Limited .