Registered number
10581350
Product Global Ltd
Filleted Accounts
31 October 2024
Product Global Ltd
Registered number: 10581350
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,694 1,694
Tangible assets 4 653,092 653,592
654,786 655,286
Current assets
Stocks 500 500
Debtors 5 652,314 570,208
Investments held as current assets 6 2 2
Cash at bank and in hand 219,262 205,779
872,078 776,489
Creditors: amounts falling due within one year 7 (26,649) (110,575)
Net current assets 845,429 665,914
Net assets 1,500,215 1,321,200
Capital and reserves
Called up share capital 16 16
Profit and loss account 1,500,199 1,321,184
Shareholders' funds 1,500,215 1,321,200
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Reza Gachcar Moghadam Ms Danuta Litwin
Director Director
Approved by the board on 15 July 2025
Product Global Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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
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, as follows:
Fixtures & fittings 15% Straight line
Fixtures, fittings, tools and equipment 25% Reducing balance
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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 11
3 Intangible fixed assets £
Intellectual property
Cost
At 1 November 2023 1,694
At 31 October 2024 1,694
Amortisation
At 31 October 2024 -
Net book value
At 31 October 2024 1,694
At 31 October 2023 1,694
4 Tangible fixed assets
Land and buildings Fixtures &
fittings
Computer equipment Total
£ £ £ £
Cost
At 1 November 2023 652,748 12,200 2,572 667,520
At 31 October 2024 652,748 12,200 2,572 667,520
Depreciation
At 1 November 2023 - 11,815 2,113 13,928
Charge for the year - 385 115 500
At 31 October 2024 - 12,200 2,228 14,428
Net book value
At 31 October 2024 652,748 - 344 653,092
At 31 October 2023 652,748 385 459 653,592
5 Debtors 2024 2023
£ £
Trade debtors - 348
Amounts owed by group undertakings and undertakings in which the company has a participating interest 142,233 171,962
Other debtors 510,081 397,898
652,314 570,208
6 Investments held as current assets 2024 2023
£ £
Shares in subsidiaries 2 2
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 17,056 -
Taxation and social security costs - 69,834
Other creditors 9,593 40,741
26,649 110,575
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr Reza Gachcar Moghadam
Overdrawn director's loan account 397,898 162,159 (50,492) 509,565
397,898 162,159 (50,492) 509,565
9 Related party transactions
The company has a subsidiary company "Mud Brand Limited" which paid rent of £60,000 and dividends of £350,000 in the current year under review.

The company received interest of £14,508 from the directors on the overdrawn director's loan account.

Overdrawn directors loan acccount of £509,565 is included under other debtors of £510,081.
10 Controlling party
Ms Danuta Litwin and Mr Reza Gachcar Moghadam are the directors and shareholders of the company and therefore the ultimate controlling responsibilities lie with them.
11 Other information
Product Global Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Mud Daddy House Unit 3 Fisher Street
Fisher Industrial Estate
Newcastle Upon Tyne
NE6 4LT
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