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Company No: OC438746 (England and Wales)

GLOBAL LEADER UK & EUROPE LLP

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

GLOBAL LEADER UK & EUROPE LLP

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

GLOBAL LEADER UK & EUROPE LLP

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
GLOBAL LEADER UK & EUROPE LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 185 504
185 504
Current assets
Debtors 4 6,928 38,665
Cash at bank and in hand 7,510 4,606
14,438 43,271
Creditors: amounts falling due within one year 5 ( 67,744) ( 48,760)
Net current liabilities (53,306) (5,489)
Total assets less current liabilities (53,121) (4,985)
Net liabilities attributable to members ( 53,121) ( 4,985)
Represented by
Loans and other debts due to members within one year
Other amounts (62,298) (22,985)
(62,298) (22,985)
Members' other interests
Members' capital classified as equity 9,177 18,000
9,177 18,000
(53,121) (4,985)
Total members' interests
Loans and other debts due to members (62,298) (22,985)
Members' other interests 9,177 18,000
(53,121) (4,985)

For the financial year ending 31 December 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

The financial statements of Global Leader UK & Europe LLP (registered number: OC438746) were approved and authorised for issue by the Board of Directors on 06 June 2025. They were signed on its behalf by:

R J Knight
Designated member
GLOBAL LEADER UK & EUROPE LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
GLOBAL LEADER UK & EUROPE LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Global Leader UK & Europe LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 8th Floor 71 Queen Victoria Street, London, EC4V 4AY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover comprises turnover recognised by the LLP in respect of services supplied during the year, exclusive of Value Added Tax.

Services provided during the period, which at the balance sheet date have not been billed, have been recognised in accordance with Financial Reporting Standard 102 Section 1A. Unbilled turnover is included in accrued income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income.

Financial instruments

The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 January 2024 1,274 1,274
At 31 December 2024 1,274 1,274
Accumulated depreciation
At 01 January 2024 770 770
Charge for the financial year 319 319
At 31 December 2024 1,089 1,089
Net book value
At 31 December 2024 185 185
At 31 December 2023 504 504

4. Debtors

2024 2023
£ £
Trade debtors 6,359 36,156
Other debtors 569 2,509
6,928 38,665

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,030 24,036
Amounts owed to Group undertakings 53,253 0
Accruals 11,461 23,711
Other taxation and social security 0 1,013
67,744 48,760