Company registration number 01786095 (England and Wales)
THE LITTLE GLOBE TRADING COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
THE LITTLE GLOBE TRADING COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
THE LITTLE GLOBE TRADING COMPANY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment properties
5
3,972,899
3,537,524
Investments
6
2
2
3,972,901
3,537,526
Current assets
Debtors
8
-
0
37,762
Cash at bank and in hand
26,667
68,285
26,667
106,047
Creditors: amounts falling due within one year
9
(297,955)
(39,595)
Net current (liabilities)/assets
(271,288)
66,452
Total assets less current liabilities
3,701,613
3,603,978
Provisions for liabilities
11
(725,398)
(701,211)
Net assets
2,976,215
2,902,767
Capital and reserves
Called up share capital
12
192
192
Profit and loss reserves
13
2,976,023
2,902,575
Total equity
2,976,215
2,902,767

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 20 May 2025 and are signed on its behalf by:
D Sherwood
Director
Company Registration No. 01786095
THE LITTLE GLOBE TRADING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

The Little Globe Trading Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Little Globe, 153 Edward Street, Brighton, East Sussex, BN2 0JG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover comprises the fair value of the consideration received or receivable for rent and service charges in the ordinary course of the company's activities.

 

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

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% straight line
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

 

1.5
Fixed asset investments

Interests in associates are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

1.6
Financial instruments

The company has the following basic financial instruments.

THE LITTLE GLOBE TRADING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

THE LITTLE GLOBE TRADING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 and 31 March 2025
6,236
Depreciation and impairment
At 1 April 2024 and 31 March 2025
6,236
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
-
0
5
Investment property
2025
£
Fair value
At 1 April 2024
3,537,524
Additions
339,290
Revaluations
96,085
At 31 March 2025
3,972,899

The value of the investment properties at 31 March 2025 has been arrived at on a fair value basis by reference to the market evidence of transaction prices for similar properties by D Sherwood, a director of the company.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2025
2024
£
£
Cost
614,682
275,392
Accumulated depreciation
(206,627)
(198,292)
Carrying amount
408,055
77,100
THE LITTLE GLOBE TRADING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
6
Fixed asset investments
2025
2024
£
£
Investments in associates
2
2
7
Associates

Details of the company's associates at 31 March 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Corkwood Services Ltd
Europa House, Goldstone Villas, Hove, East Sussex, BN3 3RQ
Ordinary £1
20.00
8
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
-
0
37,762
9
Creditors: amounts falling due within one year
2025
2024
£
£
Taxation and social security
18,916
14,177
Other creditors
279,039
25,418
297,955
39,595
10
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
11
725,398
701,211
11
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Investment property
725,398
701,211
THE LITTLE GLOBE TRADING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
11
Deferred taxation
(Continued)
- 6 -
2025
Movements in the year:
£
Liability at 1 April 2024
701,211
Charge to profit or loss
24,187
Liability at 31 March 2025
725,398
12
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
68 Ordinary shares of £1 each
68
68
Preference share capital
Issued and fully paid
124 Lifetime preference shares of £1 each
124
124
Total equity share capital
192
192
13
Profit and loss reserves

Included in the profit and loss account reserves are fair value revaluations of £2,632,819 (2024 : £2,560,921) which are not available for distribution to shareholders.

14
Directors' transactions

At 31 March 2025 the company owed the directors £1,001. At 1 April 2024 the company was owed £37,762 by the directors which was fully repaid on 20 May 2024.

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