Registered number
09530137
Global Health & Safety Ltd
Accounts
For the period from 1 January 2024 to 30 June 2025
KABAN & COMPANY
CHARTERED ACCOUNTANTS
Global Health & Safety Ltd
Accounts
Contents
Page
Directors' Report 1
Accountants' Report 2
Profit and Loss Account 3
Balance Sheet 4
Statement of Changes in Equity 5
Notes to the Accounts 6 to 9
Global Health & Safety Ltd
Registered number: 09530137
Directors' Report
The directors present their report and accounts for the period from 1 January 2024 to 30 June 2025.
Principal activities
The company is in the process of setting up as a manufacturer and supplier of medical devices.
Directors
The following persons served as directors during the period:
Gökhan Ayaydın
Victoria Güney
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 7 August 2025 and signed on its behalf.
Gökhan Ayaydın
Director
Global Health & Safety Ltd
Chartered Accountants' Report
For the period from 1 January 2024 to 30 June 2025
Chartered Accountants' Report to the board of directors on the preparation of the unaudited statutory accounts of Global Health & Safety Ltd for the period ended 30 June 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Global Health & Safety Ltd for the period ended 30 June 2025 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at:
www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Global Health & Safety Ltd, as a body, in accordance with the terms of our engagement letter dated 18 September 2024. Our work has been undertaken solely to prepare for your approval the accounts of Global Health & Safety Ltd and state those matters that we have agreed to state to the Board of Directors of Global Health & Safety Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Global Health & Safety Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Global Health & Safety Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Global Health & Safety Ltd. You consider that Global Health & Safety Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Global Health & Safety Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Kaban & Company Ltd
Chartered Accountants
Albany Chambers
26 Bridge Road East
Welwyn Garden City
Hertfordshire
AL7 1HL
7 August 2025
Global Health & Safety Ltd
Profit and Loss Account
For the period from 1 January 2024 to 30 June 2025
1 January 2024 1 January 2023
to 30 June 2025 to 31 December 2023
£ £
Turnover 1,973,895 376,935
Cost of sales (1,341,789) (540,590)
Gross profit/(loss) 632,106 (163,655)
Administrative expenses (2,728,903) (2,212,789)
Loss before taxation (2,096,797) (2,376,444)
Tax on loss - -
Loss for the period (2,096,797) (2,376,444)
Global Health & Safety Ltd
Registered number: 09530137
Balance Sheet
As at 30 June 2025
Notes 30 June 2025 31 December 2023
£ £
Fixed assets
Tangible assets 4 344,642 579,358
Current assets
Stocks 452,071 673,336
Debtors 5 416,112 626,095
Cash at bank 118,498 1,684
986,681 1,301,115
Creditors: amounts falling due within one year 6 (532,710) (421,640)
Net current assets 453,971 879,475
Total assets less current liabilities 798,613 1,458,833
Creditors: amounts falling due after one year 7 (7,204,884) (6,268,307)
Net liabilities (6,406,271) (4,809,474)
Capital and reserves
Share capital 8 600,000 100,000
Accumulated losses (7,006,271) (4,909,474)
Net deficit (6,406,271) (4,809,474)
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 member has 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.
Gökhan Ayaydın
Director
Approved by the board on 7 August 2025
Global Health & Safety Ltd
Statement of Changes in Equity
For the period from 1 January 2024 to 30 June 2025
Share capital Accumulated losses Total
£ £ £
At 1 January 2023 100,000 (2,533,030) (2,433,030)
Loss for the financial year - (2,376,444) (2,376,444)
At 31 December 2023 100,000 (4,909,474) (4,809,474)
At 1 January 2024 100,000 (4,909,474) (4,809,474)
Loss for the period - (2,096,797) (2,096,797)
Shares issued 500,000 - 500,000
At 30 June 2025 600,000 (7,006,271) (6,406,271)
Global Health & Safety Ltd
Notes to the Accounts
For the period from 1 January 2024 to 30 June 2025
1 Company information
The company is a private company limited by shares, incorporated in England and registered at Unit K3, Kiln Farm, Milton Keynes, MK11 3LW.
2 Accounting policies
2.1 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). The accounts cover a period of 18 months to achieve the company's preferred period-end date going forward and so they are not entirely comparable to the previous accounting period which covered a period of 12 months.
2.2 Going concern
The accounts have been prepared on the going concern basis even though the company's liabilities exceeded its assets at the balance sheet date and at the date of the directors' approval of the accounts. Based on the review of the company's forecasts for the period to 31 December 2026 and the availability of financial resources, including the related party balances referred to in Note 7, the directors consider that the company will continue to be able to meet its liabilities as they fall due for at least 12 months from the date of their approval of these accounts and therefore the going concern basis remains appropriate for preparing the company's accounts.
2.3 Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents revenue earned from the sale of goods and is recognised at the point of sale.
2.4 Tangible assets
Tangible assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost less estimated residual value of each asset evenly over its expected useful life, as follows:
Leasehold buildings over the remaining lease term
Plant and machinery over 4 years
2.5 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. Provision is made for damaged, obsolete and slow-moving stock where appropriate. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2.6 Debtors
Short term debtors are measured at transaction price less any impairment losses for bad and doubtful debts. Longer term 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.
2.7 Creditors
Short term creditors are measured at transaction price. Longer term 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.
2.8 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 accounts 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. Current and deferred tax assets and liabilities are not discounted.
2.9 Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount, in which case the impairment loss is a revaluation decrease.
2.10 Foreign currency translation
The company's functional and presentation currency is Pound sterling ("£"). 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.
2.11 Pension contributions
Contributions to defined contribution plans are expensed in the period to which they relate.
3 Employees 2025 2023
Number Number
Average number of persons employed 17 20
4 Tangible assets
Leasehold buildings Plant and machinery Total
£ £ £
Cost
At 1 January 2024 271,463 772,210 1,043,673
Additions 6,242 56,927 63,169
At 30 June 2025 277,705 829,137 1,106,842
Depreciation
At 1 January 2024 30,158 434,157 464,315
Charge for the period 44,310 253,575 297,885
At 30 June 2025 74,468 687,732 762,200
Net book value
At 30 June 2025 203,237 141,405 344,642
At 31 December 2023 241,305 338,053 579,358
5 Debtors 2025 2023
£ £
Trade debtors 85,536 385,690
Other debtors 330,576 240,405
416,112 626,095
6 Creditors: amounts falling due within one year 2025 2023
£ £
Trade creditors 145,343 254,479
Taxation and social security 243,974 76,282
Other creditors 143,393 90,879
532,710 421,640
7 Creditors: amounts falling due after one year 2025 2023
£ £
Amounts owed to related parties 7,204,884 6,268,307
As at 30 June 2025 there were unsecured and interest-free loans of £6,270,000 (2023: £5,445,000) from Mr Turgay Ciner, the ultimate controlling party, and of £934,884 (2023: £823,306) from Mr Gokhan Ayaydin, a director, and his related entitites. Under an agreement dated 11 January 2022 between these parties, their loans are not repayable until after the company becomes profitable. The company's total loan facility from Mr Ciner is for up to £8,945,000. The loan from Mr Turgay Ciner was previously secured by a floating charge on all assets of the company, but this was discharged on 30 June 2025.
8 Share capital 2025 2023
£ £
Allotted, called up and fully paid:
100 Ordinary shares of £1 each 600,000 100,000
9 Other financial commitments 2025 2023
£ £
Total future minimum payments under non-cancellable operating leases 1,789,199 2,135,476
10 Controlling party
The immediate controlling party is Ciner Health Holdings Ltd, registered at 2nd Floor, 23 College Hill, London, EC4R 2RP. The ultimate controlling party is Mr Turgay Ciner.
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