Company registration number 10963791 (England and Wales)
GLOBAL 81 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GLOBAL 81 LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
GLOBAL 81 LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
14,776,416
14,831,675
Current assets
Debtors
5
894
101
Cash at bank and in hand
224,942
411,450
225,836
411,551
Creditors: amounts falling due within one year
6
(83,576)
(126,947)
Net current assets
142,260
284,604
Total assets less current liabilities
14,918,676
15,116,279
Creditors: amounts falling due after more than one year
7
(5,487,671)
(5,396,461)
Net assets
9,431,005
9,719,818
Capital and reserves
Called up share capital
9
175
175
Share premium account
9,855,735
9,855,735
Equity reserve
5,419,176
4,077,139
Profit and loss reserves
(5,844,081)
(4,213,231)
Total equity
9,431,005
9,719,818
GLOBAL 81 LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 21 August 2025 and are signed on its behalf by:
Mr C Martinez
Director
Company registration number 10963791 (England and Wales)
GLOBAL 81 LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
Share capital
Share premium account
Share based payment reserve
Profit and loss reserves
Total
£
£
£
£
£
Balance at 1 January 2023
175
9,855,735
2,272,734
(2,361,553)
9,767,091
Year ended 31 December 2023:
Loss and total comprehensive income
-
-
-
(1,851,678)
(1,851,678)
Share based payment
-
-
1,804,405
-
1,804,405
Balance at 31 December 2023
175
9,855,735
4,077,139
(4,213,231)
9,719,818
Year ended 31 December 2024:
Loss and total comprehensive income
-
-
-
(1,630,850)
(1,630,850)
Share based payment
-
-
1,342,037
-
1,342,037
Balance at 31 December 2024
175
9,855,735
5,419,176
(5,844,081)
9,431,005
GLOBAL 81 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information
Global 81 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9th Floor, 107 Cheapside, London, EC2V 6DN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) including the provisions of Section 1A "Small Entities and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Preparation of consolidated financial statements
The financial statements contain information about Global 81 Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
GLOBAL 81 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Share-based payments
GLOBAL 81 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted . The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.
When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.
Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons employed by the company during the year was:
2024
2023
Number
Number
Total
45
45
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
14,776,416
14,831,675
GLOBAL 81 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024
14,831,675
Additions
5,512
At 31 December 2024
14,837,187
Impairment
At 1 January 2024
-
Disposals
60,771
At 31 December 2024
60,771
Carrying amount
At 31 December 2024
14,776,416
At 31 December 2023
14,831,675
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
894
101
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
8,214
Amounts owed to group undertakings
1,141
61,597
Corporation tax
2,287
Other creditors
74,221
63,063
83,576
126,947
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
5,487,671
5,396,461
GLOBAL 81 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
8
Share-based payment transactions
Number of share options
Weighted average exercise price
2024
2023
2024
2023
Number
Number
£
£
Outstanding at 1 January 2024
1,323,740
1,881,279
0.00001
0.00001
Granted
375,000
471,500
0.00001
0.00001
Forfeited
0.00001
0.00001
Vested
0.00001
0.00001
Outstanding at 31 December 2024
840,352
1,323,740
0.00001
0.00001
Exercisable at 31 December 2024
702,896
705,696
0.00001
0.00001
The options outstanding at 31 December 2024 had an exercise price of £0.00001, and a remaining contractual life of 4 years from the date of issue.
Liabilities and expenses
During the year, the company recognised total share-based payment expenses of £1,342,037 (2023 - £1,804,405) which related to equity settled share based payment transactions.
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.001p each
12,958,863
12,958,863
130
130
Series A shares of 0.001p each
4,552,692
4,552,692
45
45
17,511,555
17,511,555
175
175