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Company Registration No. 12383618 (England and Wales)
GLOBAL BUSINESS ASSOCIATES LTD Unaudited accounts for the year ended 31 January 2025
GLOBAL BUSINESS ASSOCIATES LTD Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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GLOBAL BUSINESS ASSOCIATES LTD Company Information for the year ended 31 January 2025
Director
Rahaman Hasan
Company Number
12383618 (England and Wales)
Registered Office
Unit 1, 58 Oakland's Park House Oakland's Park Avenue Ilford Essex IG1 1TG
Accountants
THN Accountants Gable House, Suite C, Room 5 1 Balfour Road Ilford IG1 4HP
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GLOBAL BUSINESS ASSOCIATES LTD Statement of financial position as at 31 January 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
21,521
17,762
Current assets
Debtors
5
1,021,350
91,443
Cash at bank and in hand
45,827
144,249
1,067,177
235,692
Creditors: amounts falling due within one year
6
(394,212)
(168,721)
Net current assets
672,965
66,971
Net assets
694,486
84,733
Capital and reserves
Called up share capital
1
1
Profit and loss account
694,485
84,732
Shareholders' funds
694,486
84,733
For the year ending 31 January 2025 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 June 2025 and were signed on its behalf by
Rahaman Hasan Director Company Registration No. 12383618
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GLOBAL BUSINESS ASSOCIATES LTD Notes to the Accounts for the year ended 31 January 2025
1
Statutory information
GLOBAL BUSINESS ASSOCIATES LTD is a private company, limited by shares, registered in England and Wales, registration number 12383618. The registered office is Unit 1, 58 Oakland's Park House, Oakland's Park Avenue, Ilford, Essex, IG1 1TG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance
Computer equipment
20% reducing balance
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 February 2024
6,230
17,676
23,906
Additions
-
9,139
9,139
At 31 January 2025
6,230
26,815
33,045
Depreciation
At 1 February 2024
1,988
4,156
6,144
Charge for the year
848
4,532
5,380
At 31 January 2025
2,836
8,688
11,524
Net book value
At 31 January 2025
3,394
18,127
21,521
At 31 January 2024
4,242
13,520
17,762
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GLOBAL BUSINESS ASSOCIATES LTD Notes to the Accounts for the year ended 31 January 2025
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Other debtors
1,009,877
81,462
Amounts falling due after more than one year
Other debtors
11,473
9,981
6
Creditors: amounts falling due within one year
2025
2024
£
£
VAT
159,625
117,264
Taxes and social security
223,306
29,466
Other creditors
11,281
16,491
Accruals
-
5,500
394,212
168,721
7
Transactions with related parties
Other debtors amount of £909,662 falling due within one year on notes 5 (Debtors) are related party transactions, interest is payable on demand.
8
Average number of employees
During the year the average number of employees was 55 (2024: 52).
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