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REGISTERED NUMBER: 10644076 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 28 February 2025

for

Global Cover Solutions Ltd

Global Cover Solutions Ltd (Registered number: 10644076)






Contents of the Financial Statements
for the Year Ended 28 February 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Global Cover Solutions Ltd

Company Information
for the Year Ended 28 February 2025







DIRECTOR: Mrs M Garcia-Casado





REGISTERED OFFICE: Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ





REGISTERED NUMBER: 10644076 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

Global Cover Solutions Ltd (Registered number: 10644076)

Balance Sheet
28 February 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,908 26,270

CURRENT ASSETS
Debtors 5 62,765 115,677
Cash at bank 3,678 2,454
66,443 118,131
CREDITORS
Amounts falling due within one year 6 73,525 112,635
NET CURRENT (LIABILITIES)/ASSETS (7,082 ) 5,496
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,826

31,766

CREDITORS
Amounts falling due after more than one
year

7

(2,048

)

(26,544

)

PROVISIONS FOR LIABILITIES (5,477 ) (5,013 )
NET ASSETS 7,301 209

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 7,101 9
SHAREHOLDERS' FUNDS 7,301 209

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 June 2025 and were signed by:





Mrs M Garcia-Casado - Director


Global Cover Solutions Ltd (Registered number: 10644076)

Notes to the Financial Statements
for the Year Ended 28 February 2025

1. STATUTORY INFORMATION

Global Cover Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33.33% Straight line

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Global Cover Solutions Ltd (Registered number: 10644076)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 March 2024 16,916 19,614 14,141 50,671
Additions - - 2,641 2,641
At 28 February 2025 16,916 19,614 16,782 53,312
DEPRECIATION
At 1 March 2024 9,307 3,237 11,857 24,401
Charge for year 1,902 2,457 2,644 7,003
At 28 February 2025 11,209 5,694 14,501 31,404
NET BOOK VALUE
At 28 February 2025 5,707 13,920 2,281 21,908
At 29 February 2024 7,609 16,377 2,284 26,270

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 60,980 105,393
Other debtors 1,785 10,284
62,765 115,677

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 20,740 30,266
Trade creditors 2,039 23,127
Amounts owed to group undertakings - 21,929
Taxation and social security 47,990 34,813
Other creditors 2,756 2,500
73,525 112,635

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 2,048 26,544

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
200 Ordinary £1 200 200