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REGISTERED NUMBER: 09299688 (England and Wales)












GLOBAL-365 PLC

STRATEGIC REPORT, DIRECTORS' REPORT AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






GLOBAL-365 PLC (REGISTERED NUMBER: 09299688)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Strategic Report 2

Directors' Report 4

Independent Auditors' Report 5

Statement of Income and Retained Earnings 8

Balance Sheet 9

Cash Flow Statement 10

Notes to the Cash Flow Statement 11

Notes to the Financial Statements 12


GLOBAL-365 PLC

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







Directors: Mr W Wilson
Directlogic Ltd



Secretary: Mr N D Cox



Registered office: White Cross
South Road
LANCASTER
LA1 4XQ



Registered number: 09299688 (England and Wales)



Auditors: Xeinadin Audit Limited
Accountants and Statutory Auditors
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD



Accountants: Xeinadin
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

GLOBAL-365 PLC (REGISTERED NUMBER: 09299688)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024


The directors present their strategic report for the year ended 31 December 2024.

Review of business
GLOBAL-365 PLC is a 'tech for good' company that develops and uses innovative technologies to improve the quality of life of vulnerable people and to reduce carbon emissions for the benefit of everyone.

SMARTprepay®
The company initially developed SMARTprepay®, a highly automated system for topping up energy smart meters operating in prepay mode, and it offered this service to energy suppliers with pricing that enabled the energy suppliers to offer prepay customers the same pricing as credit customers ('price parity'). The majority of prepay customers are vulnerable and GLOBAL-365 is assisting them to escape from living in fuel poverty.

Unfortunately Paypoint plc, a company that had a greater than 90% share of the market for topping up the old 'legacy' prepayment meters, engaged in illegal anti-competitive behaviour in an attempt to prevent SMARTprepay® gaining traction in the smart meter prepayment market. GLOBAL-365 is currently pursuing compensation from Paypoint via the Competition Appeal Tribunal.

GLOBAL-365 retains ownership of the Intellectual Property Rights (IPR) in the software that it develops and generates revenue from making the software available to companies on a Software as a Service (SaaS) basis.

Heat saving
Almost half of the final energy consumed in the UK is to provide heat - more than that used to produce electricity or for transport. Around 57% of this heat goes towards meeting the space and water heating requirements of homes. The UK Government's target of achieving net-zero carbon emissions by 2050 will only be achieved if heat is generated from renewable sources and used more efficiently.

Measuring the amount of heat consumed in individual premises (dwellings, offices, shops and public buildings) is essential to enable energy consumption and therefore carbon emissions to be minimised. The market for heat meters is set to grow exponentially over the next 10 years but currently the majority of heat meters installed in the UK come from abroad.

During 2022 GLOBAL-365 acquired Meters UK Ltd, the UK's only indigenous manufacturer of heat meters, with the intention of significantly increasing the company's manufacturing capacity to meet the requirements of the rapidly growing market by building an Advanced Manufacturing Plant (AMP) in the North West of England. It will enable clients in the UK to purchase locally manufactured products and contribute to the reduction of their own carbon footprint by avoiding the need for heat meters to have to be transported from other countries.

The AMP will use collaborative robots to ensure the highest possible quality standards are consistently achieved (the company is already ISO9001 compliant) and that unit manufacturing costs of heat meters are as low as is practicable.

In parallel Meters UK has developed technology that enables space and water heating to be remotely switched off in individual premises across a site when it is not needed and back on when it is.

In 2026 Ofgem, the UK Government's energy regulator for Great Britain, becomes responsible for regulating heat networks and and ensuring compliance with metering and billing regulations. This creates an opportunity for Meters UK to provide heat metering equipment and remote meter reading services to 14,000 district heat network operators who, in the main, have ignored the provisions of the Heat Network (Metering and Billing) Regulations prior to Ofgem's involvement.

The organisational changes necessary to enable Meters UK to grow rapidly in the future and contribute to the UK achieving net-zero carbon emissions by 2050 have now been completed.


GLOBAL-365 PLC (REGISTERED NUMBER: 09299688)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

Environmental, social and governance
GLOBAL-365 PLC is proud to have become a member of National Energy Action, a charity aiming to eliminate fuel poverty that through powerful lobbying has succeeded in bringing about the Ofgem capped prices for prepayment energy customers now being lower than the prices for credit customers for the first time. This was only made possible by the launch of SMARTprepay® which had a major impact on the cost to energy suppliers of servicing prepay customers.

Information on GLOBAL-365 PLC's position on the following ESG issues can be found at https://global-365.com/environmental-social-governance.html
- Anti-Slavery
- Anti-Bribery & Corruption
- Equality & Diversity
- Ethical Trading
- Responsible Innovation
- Corporate Responsibility

Net Zero

GLOBAL-365 is committed to achieving Net Zero emissions status, in line with the UK Government's legislation to achieve net-zero carbon emissions by 2050. Details can be found at https://global-365.com/net-zero.html

Section 172(1) statement
Under S.172 of the Companies Act 2006 directors of UK companies have a duty to promote the success of their for company for the benefit of the members as a whole and, in doing so, have regard to:

a. the likely consequences of any decision in the long term;
b. the interests of the company's employees;
c. the need to foster the company's business relationships with suppliers, customers and others;
d. the impact of the company's operations on the community and the environment;
e. the desirability of the company maintaining a reputation for high standards of business conduct; and
f. the need to act fairly between members of the company company.

The Company is well-established and prides itself on being a world leader in innovative business process automation.

Detailed planning and forecasting are carried out to ensure the ongoing financial safety and continued growth of the business.

The maintenance of the highest standards of health and safety are prioritised through investment in training, equipment and staff awareness.

The company follows the Kaizen2 philosophy to ensure continuous improvement.

On behalf of the board:





Mr W Wilson - Director


24 June 2025

GLOBAL-365 PLC (REGISTERED NUMBER: 09299688)

DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024


The directors present their report with the financial statements of the company for the year ended 31 December 2024.

Dividends
No dividends will be distributed for the year ended 31 December 2024.

Directors
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Mr W Wilson
Directlogic Ltd

Statement of directors' responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:





Mr W Wilson - Director


24 June 2025

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
GLOBAL-365 PLC


Opinion
We have audited the financial statements of GLOBAL-365 PLC (the 'company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Material uncertainty related to going concern

We draw attention to note 13 in the financial statements which details the loan advanced in 2023 for £500,000. This is due for repayment on the earlier of either the settlement of the Litigation or during 2026.

The loan together with other matters set out in note 2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

Key audit matters
Except for the matter described in the material uncertainty related to going concern, we have determined that there are no other key matters to be communicate in our report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Directors' Report, but does not include the financial statements and our Auditors' Report thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
GLOBAL-365 PLC


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
GLOBAL-365 PLC


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

· enquiries are made of management and those charged with governance as to whether there is any knowledge of actual, suspected, or alleged fraud, whether there is any known non-compliance with laws or regulations, and whether the company has been subject to any litigation or any legal claims.
· audit work over the risk of management override of controls is undertaken. This includes testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
· analytical reviews are performed on the financial statements at all stages of the audit by comparison to prior years, budgets and expectations to ensure the reasonableness of the figures therein.
· third party confirmation is obtained from the company's bankers to confirm bank balances, loan facilities and security held.
· enquiries are made of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations.
· financial statement disclosures are reviewed and tested to supporting documentation to assess compliance with applicable laws and regulations.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Tim Preece FCCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
Accountants and Statutory Auditors
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

26 June 2025

GLOBAL-365 PLC (REGISTERED NUMBER: 09299688)

STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £    £    £   

Turnover - -

Distribution costs 22,948 25,498
Administrative expenses 9,040 19,124
31,988 44,622
(31,988 ) (44,622 )

Other operating income - 13,075
Operating loss 4 (31,988 ) (31,547 )

Interest receivable and similar income 1,957 354
(30,031 ) (31,193 )

Interest payable and similar expenses 6 99,087 21,936
Loss before taxation (129,118 ) (53,129 )

Tax on loss 7 - (4,086 )
Loss for the financial year (129,118 ) (49,043 )

Retained earnings at beginning of year (415,418 ) (366,375 )

Retained earnings at end of year (544,536 ) (415,418 )

GLOBAL-365 PLC (REGISTERED NUMBER: 09299688)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
Fixed assets
Intangible assets 8 619,435 229,484
Investments 9 20,403 20,303
639,838 249,787

Current assets
Debtors 10 113,134 233,319
Cash at bank 25,647 362,996
138,781 596,315
Creditors
Amounts falling due within one year 11 218,358 149,535
Net current (liabilities)/assets (79,577 ) 446,780
Total assets less current liabilities 560,261 696,567

Creditors
Amounts falling due after more than one
year

12

532,697

539,885
Net assets 27,564 156,682

Capital and reserves
Called up share capital 14 572,100 572,100
Retained earnings 15 (544,536 ) (415,418 )
Shareholders' funds 27,564 156,682

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2025 and were signed on its behalf by:





Mr W Wilson - Director


GLOBAL-365 PLC (REGISTERED NUMBER: 09299688)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 22,814 11,570
Interest paid (99,087 ) (21,936 )
Tax paid - 4,086
Net cash from operating activities (76,273 ) (6,280 )

Cash flows from investing activities
Purchase of fixed asset investments (100 ) -
Interest received 1,957 354
Net cash from investing activities 1,857 354

Cash flows from financing activities
New loans in year - 500,000
Loan repayments in year (7,134 ) (2,109 )
Owed by group undertakings (255,799 ) (194,200 )
Net cash from financing activities (262,933 ) 303,691

(Decrease)/increase in cash and cash equivalents (337,349 ) 297,765
Cash and cash equivalents at beginning of
year

2

362,996

65,231

Cash and cash equivalents at end of year 2 25,647 362,996

GLOBAL-365 PLC (REGISTERED NUMBER: 09299688)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024


1. Reconciliation of loss before taxation to cash generated from operations

2024 2023
£    £   
Loss before taxation (129,118 ) (53,129 )
Depreciation charges 22,948 25,498
Finance costs 99,087 21,936
Finance income (1,957 ) (354 )
(9,040 ) (6,049 )
Decrease/(increase) in trade and other debtors 3,285 (2,062 )
Increase in trade and other creditors 28,569 19,681
Cash generated from operations 22,814 11,570

2. Cash and cash equivalents

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024
31/12/24 1/1/24
£    £   
Cash and cash equivalents 25,647 362,996
Year ended 31 December 2023
31/12/23 1/1/23
£    £   
Cash and cash equivalents 362,996 65,231


3. Analysis of changes in net debt

At 1/1/24 Cash flow At 31/12/24
£    £    £   
Net cash
Cash at bank 362,996 (337,349 ) 25,647
362,996 (337,349 ) 25,647
Debt
Debts falling due within 1 year (7,080 ) (54 ) (7,134 )
Debts falling due after 1 year (539,885 ) 7,188 (532,697 )
(546,965 ) 7,134 (539,831 )
Total (183,969 ) (330,215 ) (514,184 )

GLOBAL-365 PLC (REGISTERED NUMBER: 09299688)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. Statutory information

GLOBAL-365 PLC is a private company , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

There is an outstanding creditor in Advanced-Metering Ltd (company number : 14149024) a wholly owned subsidiary of GLOBAL-365 PLC of £702,765 which is due for payment 30 September 2025. Advanced-Metering Ltd does not currently have sufficient reserves to meet this liability however the directors are confident the due date can be postponed and sufficient funds raised within the group to meet this obligation.

Due to an ongoing case in the Competition Appeal Tribunal the directors are confident of a successful claim resulting in the receipt of a significant sum of compensation monies sufficient to meet the current liabilities of the group.

The directors have formed a judgement at the time of approving the financial statements that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of approving the accounts. For this reason the directors continue to adopt the going concern basis in preparing the financial statements.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Development costs - 10% reducing balance

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


GLOBAL-365 PLC (REGISTERED NUMBER: 09299688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. Accounting policies - continued
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.

3. Employees and directors

There were no staff costs for the year ended 31 December 2024 nor for the year ended 31 December 2023.

The average number of employees during the year was NIL (2023 - NIL).

2024 2023
£    £   
Directors' remuneration - -

4. Operating loss

The operating loss is stated after charging:

2024 2023
£    £   
Development costs amortisation 22,949 25,498

5. Auditors' remuneration
2024 2023
£    £   
Fees payable to the company's auditors and their associates for the audit of
the company's financial statements

4,200

4,000
Other non- audit services 2,075 3,845

6. Interest payable and similar expenses
2024 2023
£    £   
Bank loan interest 91,108 1,226
Other interest payable 7,979 3,210
Arrangement fee - 17,500
99,087 21,936

GLOBAL-365 PLC (REGISTERED NUMBER: 09299688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


7. Taxation

Analysis of the tax credit
The tax credit on the loss for the year was as follows:
2024 2023
£    £   
Current tax:
R & D Refund - (4,086 )
Tax on loss - (4,086 )

8. Intangible fixed assets
Development
costs
£   
Cost
At 1 January 2024 419,769
Additions 412,900
At 31 December 2024 832,669
Amortisation
At 1 January 2024 190,285
Amortisation for year 22,949
At 31 December 2024 213,234
Net book value
At 31 December 2024 619,435
At 31 December 2023 229,484

9. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 January 2024 20,303
Additions 100
At 31 December 2024 20,403
Net book value
At 31 December 2024 20,403
At 31 December 2023 20,303

GLOBAL-365 PLC (REGISTERED NUMBER: 09299688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. Fixed asset investments - continued

Subsidiaries, associates and other investments
Details of the investments in which the company have an interest of 20% or more are as follows:

Subsidiary undertaking Class of share % shares held
Global Prepaid Solutions Ltd Ordinary £0.01 100
Global-365 (Europe) Ltd Ordinary £1 100
7879943 Ltd Ordinary £0.10 100
Global-365 (UK) Ltd Ordinary £1 100
Advanced-Metering Ordinary £1 100
Meters UK Ltd Ordinary £1 100
Global Energy Efficiency Ltd Ordinary £1 100

10. Debtors: amounts falling due within one year
2024 2023
£    £   
Amounts owed by group undertakings 113,100 230,000
VAT 34 3,319
113,134 233,319

11. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts (see note 13) 7,134 7,080
Trade creditors 25,942 25,936
Amounts owed to group undertakings 97,225 57,025
Other creditors 81,782 53,994
Accruals 6,275 5,500
218,358 149,535

12. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans (see note 13) 32,697 39,885
Other loans (see note 13) 500,000 500,000
532,697 539,885

13. Loans

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 7,134 7,080

GLOBAL-365 PLC (REGISTERED NUMBER: 09299688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


13. Loans - continued
2024 2023
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 7,134 7,080
Other loans - 1-2 years 500,000 -
507,134 7,080

Amounts falling due between two and five years:
Bank loans - 2-5 years 25,563 32,805
Other loans - 2-5 years - 500,000
25,563 532,805

The company has an interest-only loan facility in place, with the principal amount of £500,000 outstanding as at the reporting date. The loan is repayable on the earlier of the settlement of the Litigation matter in the Competition Appeal Tribunal, or by instalments throughout 2026 with a final repayment date of 14 December 2026. Interest is payable at a rate of 1.5% per month on the full, gross amount of the loan.

The loan is secured on the assets of the company and is guaranteed by the subsidiaries of the company.

14. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,744 Ordinary £1 shares £1 1,744 1,744
570,056 Ordinary £1 A Shares £1 570,056 570,056
300 Ordinary £1 E Shares £1 300 300
572,100 572,100

15. Reserves
Retained
earnings
£   

At 1 January 2024 (415,418 )
Deficit for the year (129,118 )
At 31 December 2024 (544,536 )

GLOBAL-365 PLC (REGISTERED NUMBER: 09299688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


16. Related party disclosures

Global Prepaid Solutions Ltd (company number: 07039158 ) is a wholly owned subsidiary of GLOBAL-365 PLC. At the year end a balance of £35,000 (2023 : £15,800) was owed to Global Prepaid Solutions Ltd.

7879943 Ltd (company number: 07879943) is a wholly owned subsidiary of GLOBAL-365 PLC. At the year end a balance of £41,125 (2023 : £41,125) was owed to 7879943 Ltd.

Advanced-Metering Ltd (company number: 14149024) is a wholly owned subsidiary of GLOBAL-365 PLC. At the year end a balance of £100 (2023 : £100) was owed to Advanced-Metering Ltd.

Meters UK Ltd (company number: 04454106) is a wholly owned subsidiary of GLOBAL-365 PLC. At the year end a balance of £113,100 (2023 : £230,000) was owed from Meters UK Ltd.

Directlogic Ltd (company number: 03277043) owns 48.43% of the share capital of GLOBAL-365 PLC. At the year end a balance of £21,000 (2023: Nil) was owed to Directlogic Ltd.

As at 31 December 2024 the company also owned three dormant UK companies:-

Global-365 (Europe) Ltd - (company number : 08898530)
Global-365 (UK) Ltd - (company number : 03162117)
Global Energy Efficiency Ltd - (company number : 15854158)

No directors remuneration was paid during the year.