10 false false false false false false false false false false true false false true false true true No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2024 - FRS102_2024 43,729 13,057 30,672 30,672 1,592 1,592 1,592 xbrli:pure xbrli:shares iso4217:GBP 03611231 2023-09-01 2024-08-31 03611231 2024-08-31 03611231 2023-08-31 03611231 2022-09-01 2023-08-31 03611231 2023-08-31 03611231 2022-08-31 03611231 core:FurnitureFittings 2023-09-01 2024-08-31 03611231 core:MotorVehicles 2023-09-01 2024-08-31 03611231 bus:Director1 2023-09-01 2024-08-31 03611231 core:NetGoodwill 2024-08-31 03611231 core:LandBuildings 2023-08-31 03611231 core:FurnitureFittings 2023-08-31 03611231 core:MotorVehicles 2023-08-31 03611231 core:LandBuildings 2024-08-31 03611231 core:FurnitureFittings 2024-08-31 03611231 core:MotorVehicles 2024-08-31 03611231 core:LandBuildings 2023-09-01 2024-08-31 03611231 core:WithinOneYear 2024-08-31 03611231 core:WithinOneYear 2023-08-31 03611231 core:ShareCapital 2024-08-31 03611231 core:ShareCapital 2023-08-31 03611231 core:RetainedEarningsAccumulatedLosses 2024-08-31 03611231 core:RetainedEarningsAccumulatedLosses 2023-08-31 03611231 core:NetGoodwill 2023-08-31 03611231 core:CostValuation core:Non-currentFinancialInstruments 2024-08-31 03611231 core:Non-currentFinancialInstruments 2024-08-31 03611231 core:Non-currentFinancialInstruments 2023-08-31 03611231 core:LandBuildings 2023-08-31 03611231 core:FurnitureFittings 2023-08-31 03611231 core:MotorVehicles 2023-08-31 03611231 bus:SmallEntities 2023-09-01 2024-08-31 03611231 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 03611231 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 03611231 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 03611231 bus:FullAccounts 2023-09-01 2024-08-31
COMPANY REGISTRATION NUMBER: 03611231
GLOBE PROPERTY SERVICES LTD
Filleted Unaudited Financial Statements
31 August 2024
GLOBE PROPERTY SERVICES LTD
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
30,672
30,672
Tangible assets
6
913,485
699,482
Investments
7
1,592
1,592
---------
---------
945,749
731,746
Current assets
Debtors
8
1,315,550
1,315,550
Cash at bank and in hand
273,300
278,673
------------
------------
1,588,850
1,594,223
Creditors: amounts falling due within one year
9
97,497
62,079
------------
------------
Net current assets
1,491,353
1,532,144
------------
------------
Total assets less current liabilities
2,437,102
2,263,890
------------
------------
Net assets
2,437,102
2,263,890
------------
------------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
2,436,102
2,262,890
------------
------------
Shareholders funds
2,437,102
2,263,890
------------
------------
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 period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GLOBE PROPERTY SERVICES LTD
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 20 March 2025 , and are signed on behalf of the board by:
H S VIRDEE
Director
Company registration number: 03611231
GLOBE PROPERTY SERVICES LTD
Notes to the Financial Statements
Period ended 31 August 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 160, HANWORTH ROAD, HOUNSLOW, TW3 3TR, UK.
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.
Amortisation
No Amorttisation been callculated on goodwill.
GOODWILL
-
No amortisation
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
All assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
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 & fittings
-
20% reducing balance
Motor vehicle
-
25% reducing balance
Freehold property is maintained in good order and condition, therefore the Director has decided not to depreciate it.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 10 (2023: 10 ).
5. Intangible assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
43,729
--------
Amortisation
At 1 September 2023 and 31 August 2024
13,057
--------
Carrying amount
At 31 August 2024
30,672
--------
At 31 August 2023
30,672
--------
6. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2023
658,754
42,705
51,500
752,959
Additions
223,869
223,869
---------
--------
--------
---------
At 31 August 2024
882,623
42,705
51,500
976,828
---------
--------
--------
---------
Depreciation
At 1 September 2023
40,602
12,875
53,477
Charge for the period
210
9,656
9,866
---------
--------
--------
---------
At 31 August 2024
40,812
22,531
63,343
---------
--------
--------
---------
Carrying amount
At 31 August 2024
882,623
1,893
28,969
913,485
---------
--------
--------
---------
At 31 August 2023
658,754
2,103
38,625
699,482
---------
--------
--------
---------
7. Investments
Other investments other than loans
£
Cost
At 1 September 2023 and 31 August 2024
1,592
-------
Impairment
At 1 September 2023 and 31 August 2024
-------
Carrying amount
At 31 August 2024
1,592
-------
At 31 August 2023
1,592
-------
Shares cost price amounting £2039 has been written off because it had no market value.
8. Debtors
2024
2023
£
£
Other debtors
1,315,550
1,315,550
------------
------------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
71,272
36,010
Social security and other taxes
4,716
4,110
Other creditors
21,509
21,959
--------
--------
97,497
62,079
--------
--------
10. Director's advances, credits and guarantees
Directors loan account relates to directors current account.
11. Related party transactions
The company was under the control of H S VIRDEE throughout the current and previous year. H S VIRDEE is the managing director holding 50% share capital of the company.