Registered number
11023584
Global Classifieds Ltd
Unaudited Filleted Accounts
31 October 2024
Global Classifieds Ltd
Registered number: 11023584
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,992 4,554
Current assets
Debtors 4 9,338 25,508
Cash at bank and in hand 26,761 18,172
36,099 43,680
Creditors: amounts falling due within one year 5 (38,735) (35,064)
Net current (liabilities)/assets (2,636) 8,616
Total assets less current liabilities 2,356 13,170
Creditors: amounts falling due after more than one year 6 (832) (1,720)
Provisions for liabilities (1,083) (946)
Net assets 441 10,504
Capital and reserves
Called up share capital 1 1
Profit and loss account 440 10,503
Shareholder's funds 441 10,504
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
P. Dalton
Director
Approved by the board on 8 July 2025
Global Classifieds 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.
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, tools and equipment over 3-5 years
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, other than loans to the director, 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).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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. Current and deferred tax 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023 23,324
Additions 4,930
Disposals (5,691)
At 31 October 2024 22,563
Depreciation
At 1 November 2023 18,770
Charge for the year 4,272
On disposals (5,471)
At 31 October 2024 17,571
Net book value
At 31 October 2024 4,992
At 31 October 2023 4,554
4 Debtors 2024 2023
£ £
Other debtors 9,338 25,508
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 712 663
Taxation and social security costs 34,061 30,024
Other creditors 3,962 4,377
38,735 35,064
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 832 1,720
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
P. Dalton
Overdrawn director's loan account, interest free and repayable on demand 25,508 - (25,508) -
25,508 - (25,508) -
8 Other information
Global Classifieds Ltd is a private company limited by shares and incorporated in England. Its registered office is:
6 Ridge Green
South Nutfield
Redhill
RH1 5RN
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