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Registered number: 02249390














GLOBESCAN LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 OCTOBER 2024

 
GLOBESCAN LIMITED
REGISTERED NUMBER:02249390

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note

Fixed assets
  

Tangible assets
 4 
236,329
243,993

Investments
 5 
51,278
51,278

  
287,607
295,271

Current assets
  

Debtors: amounts falling due within one year
 6 
311,789
211,696

Cash at bank and in hand
  
907,134
1,016,662

  
1,218,923
1,228,358

Creditors: amounts falling due within one year
 7 
(409,124)
(376,609)

Net current assets
  
 
 
809,799
 
 
851,749

Total assets less current liabilities
  
1,097,406
1,147,020

Creditors: amounts falling due after more than one year
 8 
-
(16,546)

  

Net assets
  
£1,097,406
£1,130,474


Capital and reserves
  

Called up share capital 
 10 
24
24

Profit and loss account
  
1,097,382
1,130,450

  
£1,097,406
£1,130,474


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

Page 1

 
GLOBESCAN LIMITED
REGISTERED NUMBER:02249390

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024


The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 June 2025.




S L Ford
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
GLOBESCAN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Globescan Limited is a private company limited by shares.  The company is incorporated in England and Wales and its registered number is 02249390.  The registered office is Henwood House, Henwood, Ashford, Kent TN24 8DH and the principal place of business is Bays 2 & 3 Pattenden Lane, Marden, Tonbridge, Kent  TN12 9QS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
GLOBESCAN LIMITED
 

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

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
GLOBESCAN LIMITED
 

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

2.Accounting policies (continued)

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Freehold property



Cost or valuation


At 1 November 2023
243,993



At 31 October 2024

243,993



Depreciation


Charge for the year on owned assets
7,664



At 31 October 2024

7,664



Net book value



At 31 October 2024
£236,329



At 31 October 2023
£243,993


5.


Fixed asset investments





Investments in subsidiary companies



Cost or valuation


At 1 November 2023
51,278



At 31 October 2024
£51,278





6.


Debtors

Page 5

 
GLOBESCAN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
2024
2023


Trade debtors
7,535
7,440

Amounts owed by group undertakings
304,254
204,254

Other debtors
-
2

£311,789
£211,696



7.


Creditors: Amounts falling due within one year

2024
2023

Bank loans
-
20,800

Amounts owed to group undertakings
286,620
198,541

Corporation tax
17,771
12,966

Other taxation and social security
3,191
3,143

Other creditors
98,792
138,759

Accruals and deferred income
2,750
2,400

£409,124
£376,609



8.


Creditors: Amounts falling due after more than one year

2024
2023

Bank loans
-
16,546

£-
£16,546


Page 6

 
GLOBESCAN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023

Amounts falling due within one year

Bank loans
-
20,800


-
20,800

Amounts falling due 1-2 years

Bank loans
-
16,546


-
16,546



£-
£37,346



10.


Share capital

2024
2023
Allotted, called up and fully paid



12 (2023 - 12) 'A' Ordinary shares of £1.00 each
12
12
12 (2023 - 12) 'B' Ordinary shares of £1.00 each
12
12

£24

£24



11.
Controlling party 

S L Ford is the ultimate controlling party of the company. 
The company is exempt from the requirement of preparing consolidated financial statements as it is the parent undertaking of a small group under section 383 of the Companies Act 2006.
 


Page 7