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COMPANY REGISTRATION NUMBER: 13079017
Global Fringes Ltd
Filleted Unaudited Financial Statements
31 December 2024
Global Fringes Ltd
Financial Statements
Year ended 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Global Fringes Ltd
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Current assets
Debtors
5
228,162
112,900
Cash at bank and in hand
383,909
479,495
---------
---------
612,071
592,395
Creditors: amounts falling due within one year
6
43,935
60,831
---------
---------
Net current assets
568,136
531,564
---------
---------
Total assets less current liabilities
568,136
531,564
---------
---------
Net assets
568,136
531,564
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
568,036
531,464
---------
---------
Shareholders funds
568,136
531,564
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 August 2025 , and are signed on behalf of the board by:
Mr B P Gilberstadt
Director
Company registration number: 13079017
Global Fringes Ltd
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Debtors
2024
2023
£
£
Trade debtors
122,976
112,800
Other debtors
105,186
100
---------
---------
228,162
112,900
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
41,206
59,331
Social security and other taxes
479
Other creditors
2,250
1,500
--------
--------
43,935
60,831
--------
--------
7. Directors' advances, credit and guarantees
During the year, the director was advanced £179,392 (2023: £Nil) and made repayments of £75,000 (2023: £4,473). The loan was repaid in full. At the balance sheet date, the director owed the company £105,086 (2023: £Nil). £694 (2023: £Nil) of interest was charged on this loan.
8. Controlling party
The ultimate parent company is Business Casual , a company registered in the United States of America. The registered address of the ultimate controlling party is 1220 S.Brand Blvd Suite, 11 Number 226, Glendale, United States, CA91 204 .