GLOBAL FENCING LTD

Company Registration Number:
06417828 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2024

Period of accounts

Start date: 1 November 2023

End date: 31 October 2024

GLOBAL FENCING LTD

Contents of the Financial Statements

for the Period Ended 31 October 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

GLOBAL FENCING LTD

Directors' report period ended 31 October 2024

The directors present their report with the financial statements of the company for the period ended 31 October 2024

Directors

The directors shown below have held office during the whole of the period from
1 November 2023 to 31 October 2024

Mark MacMillan
Dawn MacMillan


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
27 February 2025

And signed on behalf of the board by:
Name: Mark MacMillan
Status: Director

GLOBAL FENCING LTD

Profit And Loss Account

for the Period Ended 31 October 2024

2024 2023


£

£
Turnover: 1,411,109 850,762
Cost of sales: ( 407,128 ) ( 225,287 )
Gross profit(or loss): 1,003,981 625,475
Administrative expenses: ( 577,496 ) ( 437,370 )
Other operating income: 3,060
Operating profit(or loss): 429,545 188,105
Interest receivable and similar income: 2,932 1,359
Interest payable and similar charges: ( 8,267 ) ( 3,402 )
Profit(or loss) before tax: 424,210 186,062
Tax: ( 91,166 ) ( 41,490 )
Profit(or loss) for the financial year: 333,044 144,572

GLOBAL FENCING LTD

Balance sheet

As at 31 October 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 127,638 70,308
Total fixed assets: 127,638 70,308
Current assets
Stocks: 4 25,355 24,092
Debtors: 5 202,651 173,655
Cash at bank and in hand: 418,568 160,485
Total current assets: 646,574 358,232
Creditors: amounts falling due within one year: 6 ( 234,875 ) ( 127,432 )
Net current assets (liabilities): 411,699 230,800
Total assets less current liabilities: 539,337 301,108
Creditors: amounts falling due after more than one year: 7 ( 85,936 ) ( 36,179 )
Total net assets (liabilities): 453,401 264,929
Capital and reserves
Called up share capital: 3 3
Profit and loss account: 453,398 264,926
Total Shareholders' funds: 453,401 264,929

The notes form part of these financial statements

GLOBAL FENCING LTD

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 27 February 2025
and signed on behalf of the board by:

Name: Mark MacMillan
Status: Director

The notes form part of these financial statements

GLOBAL FENCING LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life.

    Other accounting policies

    Investments Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique. Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Debtors Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provisions Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. Foreign currency translation Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. Leased assets A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

GLOBAL FENCING LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 14 10

GLOBAL FENCING LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2023 74,782 111,425 186,207
Additions 5,204 127,199 132,403
Disposals ( 65,500 ) ( 65,500 )
Revaluations
Transfers
At 31 October 2024 79,986 173,124 253,110
Depreciation
At 1 November 2023 56,873 59,026 115,899
Charge for year 5,814 37,519 43,333
On disposals ( 33,760 ) ( 33,760 )
Other adjustments
At 31 October 2024 62,687 62,785 125,472
Net book value
At 31 October 2024 17,299 110,339 127,638
At 31 October 2023 17,909 52,399 70,308

GLOBAL FENCING LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

4. Stocks

2024 2023
£ £
Stocks 25,355 24,092
Total 25,355 24,092

GLOBAL FENCING LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

5. Debtors

2024 2023
£ £
Trade debtors 202,651 173,655
Total 202,651 173,655

GLOBAL FENCING LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 2,812 1,242
Amounts due under finance leases and hire purchase contracts 13,803
Trade creditors 64,599 36,242
Taxation and social security 167,464 76,145
Total 234,875 127,432

GLOBAL FENCING LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Amounts due under finance leases and hire purchase contracts 85,936 36,179
Total 85,936 36,179

GLOBAL FENCING LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

8. Loans to directors

Name of director receiving advance or credit:
Description of the transaction:
Few personal items purchased in error on company bank card
£
Balance at 31 October 2023 407
Advances or credits made:
Advances or credits repaid:
Balance at 31 October 2024 407