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REGISTERED NUMBER: 07017740 (England and Wales)




















Financial Statements

for the Year Ended 31 December 2024

for

Global Display Solutions Limited

Global Display Solutions Limited (Registered number: 07017740)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Global Display Solutions Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: G Cariolato
R E Swetman





SECRETARY: R P Blamey





REGISTERED OFFICE: Unit 9 BSS House
Cheney Manor Industrial Estate
Swindon
Wiltshire
SN2 2PJ





REGISTERED NUMBER: 07017740 (England and Wales)

Global Display Solutions Limited (Registered number: 07017740)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 6,485 23,404

CURRENT ASSETS
Stocks 282,588 282,755
Debtors 6 1,736,178 2,365,418
Cash at bank and in hand 15,912 368,707
2,034,678 3,016,880
CREDITORS
Amounts falling due within one year 7 1,232,537 1,756,165
NET CURRENT ASSETS 802,141 1,260,715
TOTAL ASSETS LESS CURRENT
LIABILITIES

808,626

1,284,119

PROVISIONS FOR LIABILITIES 19,940 -
NET ASSETS 788,686 1,284,119

CAPITAL AND RESERVES
Called up share capital 500,000 500,000
Retained earnings 288,686 784,119
SHAREHOLDERS' FUNDS 788,686 1,284,119

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 Board of Directors and authorised for issue on 15 July 2025 and were signed on its behalf by:





R E Swetman - Director


Global Display Solutions Limited (Registered number: 07017740)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Global Display Solutions Limited 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern
The directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook and has sufficient resources and financial support from its parent company to continue to operate as a going concern. The directors have a reasonable expectation that the company will be able to continue in operation and meet its liabilities in the coming twelve months. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for customer returns, rebates or other similar allowances and is net of value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the company has transferred to the buyer the significant risks and rewards of ownership of the goods;
- the company retains neither continuing managerial involvement to the degree associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction can be measured reliably.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of the contract is measured by comparing costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Revenue earned from the sales of goods is recognised on the day the goods are delivered to or collected by customers. Commission income is recognised in the period in which the related sales are made.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and Machinery- 50% on straight line basis
Fixtures and Fittings- 100% on straight line basis, 25% on straight line basis
Computer Equipment- 33% on straight line basis

Depreciation is charged from when asset is bought into use.

Global Display Solutions Limited (Registered number: 07017740)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. ACCOUNTING POLICIES - continued

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Provision is made for any foreseeable losses where appropriate. No element of profit is included in valuation of work in progress.

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.

Research and development
Expenditure on research and product development activity is written off to the profit and loss account in the period in which it occurs. Total research and development costs of £215,228 (2023: £220,333) have been incurred during the year.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 17 ) .

Global Display Solutions Limited (Registered number: 07017740)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024 46,080 45,088 36,825 127,993
Additions 6,741 29,286 996 37,023
Disposals - (869 ) - (869 )
Impairments - (33,901 ) - (33,901 )
At 31 December 2024 52,821 39,604 37,821 130,246
DEPRECIATION
At 1 January 2024 31,995 40,564 32,030 104,589
Charge for year 15,927 7,316 4,217 27,460
Eliminated on disposal - (869 ) - (869 )
Impairments - (7,419 ) - (7,419 )
At 31 December 2024 47,922 39,592 36,247 123,761
NET BOOK VALUE
At 31 December 2024 4,899 12 1,574 6,485
At 31 December 2023 14,085 4,524 4,795 23,404

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 242,179 1,123,757
Amounts owed by group undertakings 946,699 887,868
Other debtors 51,221 52,060
VAT 83,301 -
Deferred tax asset 380,188 262,250
Prepayments 32,590 35,861
1,736,178 2,361,796

Amounts falling due after more than one year:
Prepayments and accrued income - 3,622

Aggregate amounts 1,736,178 2,365,418

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 41,685 135,516
Amounts owed to group undertakings 1,082,132 1,201,071
Social security and other taxes 12,926 15,868
VAT - 131,152
Other creditors 2,210 9,971
Accruals and deferred income 93,584 262,587
1,232,537 1,756,165

Global Display Solutions Limited (Registered number: 07017740)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 32,235 45,540
Between one and five years 18,379 53,334
50,614 98,874

9. SECURED DEBTS

The company's bank has a fixed and floating charge over the company's assets in relation to a guarantee provided by the bank in respect of the payment of certain outstanding trade debtor balances.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Iain Black (Senior Statutory Auditor)
for and on behalf of Sumer Auditco Limited

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

No related party transactions took place with non-wholly owned subsidiaries within the group of which the company is a member:

12. ULTIMATE CONTROLLING PARTY

The ultimate parent company is GDS Holding S.r.l a company registered in Italy. This company is the smallest group for which consolidated financial statements are drawn up of which the company is a member.

A copy of the consolidated financial statements can be obtained from GDS Holding S.r.l at via Tezze 20, Cornedo Vicentino (Vicenza), Italy.