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Registered number: 08394034
Global Procurement and Logistics Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
EH54 6AX
Contents
Page
Accountant's Report 1
Balance Sheet 2
Notes to the Financial Statements 3—5
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Global Procurement and Logistics Ltd for the year ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Global Procurement and Logistics Ltd for the year ended 31 March 2025 which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company's accounting records and from information and explanations you have given to us.
As a practising member of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts-revised-june-2020.
This report is made solely to the director of Global Procurement and Logistics Ltd , as a body, in accordance with the terms of our engagement letter dated 18 July 2019. Our work has been undertaken solely to prepare for your approval the accounts of Global Procurement and Logistics Ltd and state those matters that we have agreed to state to the director of Global Procurement and Logistics Ltd , as a body, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Global Procurement and Logistics Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that Global Procurement and Logistics 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 profit or loss of Global Procurement and Logistics Ltd . You consider that Global Procurement and Logistics Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Global Procurement and Logistics 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.
Signed
6 August 2025
Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
EH54 6AX
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Page 2
Balance Sheet
Registered number: 08394034
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 247,941 249,583
Investments 5 100 100
248,041 249,683
CURRENT ASSETS
Debtors 6 227 100
Cash at bank and in hand 17,335 7,522
17,562 7,622
Creditors: Amounts Falling Due Within One Year 7 (254,212 ) (253,393 )
NET CURRENT ASSETS (LIABILITIES) (236,650 ) (245,771 )
TOTAL ASSETS LESS CURRENT LIABILITIES 11,391 3,912
NET ASSETS 11,391 3,912
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 11,291 3,812
SHAREHOLDERS' FUNDS 11,391 3,912
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr G Gilhooly
Director
6 August 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Global Procurement and Logistics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08394034 . The registered office is First Floor Templeback, 10 Temple Back, Bristol, BS1 6FL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost
2.4. Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable
2.5. Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
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4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 April 2024 251,225
As at 31 March 2025 251,225
Depreciation
As at 1 April 2024 1,642
Provided during the period 1,642
As at 31 March 2025 3,284
Net Book Value
As at 31 March 2025 247,941
As at 1 April 2024 249,583
5. Investments
Subsidiaries
£
Cost
As at 1 April 2024 100
As at 31 March 2025 100
Provision
As at 1 April 2024 -
As at 31 March 2025 -
Net Book Value
As at 31 March 2025 100
As at 1 April 2024 100
6. Debtors
2025 2024
£ £
Due within one year
Other debtors 227 100
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Other creditors 251,587 251,575
Taxation and social security 2,625 1,818
254,212 253,393
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8. Share Capital
2025 2024
£ £
Called Up Share Capital not Paid 100 100
Amount of Allotted, Called Up Share Capital 100 100
9. Related Party Disclosures
The company operates a loan account with the director, Mr G Gilhooly.
At the year end, the balance due from the director was £70 (2024: £70). This loan is unsecured, interest free and has no fixed repayment terms.
The company operates a loan account with the shareholder, Mr A Gardyne.
At the year end, the balance due from the shareholder was £30 (2024: £30). This loan is unsecured, interest free and has no fixed repayment terms.
The company operates a loan account with the subsidiary, Global Sourcing and Logistics Ltd.
At the year end, the balance due to the subsidiary was £100 (2024 - £100). This loan is unsecured, interest free and has no fixed repayment terms.
The company operates a loan account with Global Design & Source Limited, a company controlled by Mr G Gilhooly.
At the year end, the balance due to Global Design & Source Limited was £251,276 (2024: £251,276). This loan is unsecured, interest free and has no fixed repayment terms.
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