IRIS Accounts Production v25.2.0.378 07761940 Board of Directors Board of Directors 1.1.24 31.12.24 31.12.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh077619402023-12-31077619402024-12-31077619402024-01-012024-12-31077619402022-12-31077619402023-01-012023-12-31077619402023-12-3107761940ns15:EnglandWales2024-01-012024-12-3107761940ns14:PoundSterling2024-01-012024-12-3107761940ns10:Director12024-01-012024-12-3107761940ns10:Director22024-01-012024-12-3107761940ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3107761940ns10:SmallEntities2024-01-012024-12-3107761940ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3107761940ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3107761940ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3107761940ns10:FullAccounts2024-01-012024-12-310776194012024-01-012024-12-3107761940ns10:OrdinaryShareClass12024-01-012024-12-3107761940ns10:RegisteredOffice2024-01-012024-12-3107761940ns5:CurrentFinancialInstruments2024-12-3107761940ns5:CurrentFinancialInstruments2023-12-3107761940ns5:Non-currentFinancialInstruments2024-12-3107761940ns5:Non-currentFinancialInstruments2023-12-3107761940ns5:ShareCapital2024-12-3107761940ns5:ShareCapital2023-12-3107761940ns5:RetainedEarningsAccumulatedLosses2024-12-3107761940ns5:RetainedEarningsAccumulatedLosses2023-12-3107761940ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3107761940ns5:ComputerSoftware2024-01-012024-12-3107761940ns5:ComputerEquipment2024-01-012024-12-3107761940ns5:IntangibleAssetsOtherThanGoodwill2023-12-3107761940ns5:IntangibleAssetsOtherThanGoodwill2024-12-3107761940ns5:IntangibleAssetsOtherThanGoodwill2023-12-3107761940ns5:ComputerEquipment2023-12-3107761940ns5:ComputerEquipment2024-12-3107761940ns5:ComputerEquipment2023-12-3107761940ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3107761940ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3107761940ns10:OrdinaryShareClass12024-12-31
REGISTERED NUMBER: 07761940 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GLOBAL MARKET SUMMITS LTD

GLOBAL MARKET SUMMITS LTD (REGISTERED NUMBER: 07761940)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLOBAL MARKET SUMMITS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mrs P Atwal-Uddin
Mr A Uddin





REGISTERED OFFICE: Granville Hall
Granville Road
Leicester
LE1 7RU





REGISTERED NUMBER: 07761940 (England and Wales)

GLOBAL MARKET SUMMITS LTD (REGISTERED NUMBER: 07761940)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 118,046 134,559
Tangible assets 5 10,519 10,820
128,565 145,379

CURRENT ASSETS
Debtors 6 230,566 378,097
Cash at bank 273,624 248,123
504,190 626,220
CREDITORS
Amounts falling due within one year 7 379,468 523,194
NET CURRENT ASSETS 124,722 103,026
TOTAL ASSETS LESS CURRENT
LIABILITIES

253,287

248,405

CREDITORS
Amounts falling due after more than one
year

8

(66,666

)

(116,667

)

PROVISIONS FOR LIABILITIES (32,141 ) (25,566 )
NET ASSETS 154,480 106,172

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 153,480 105,172
SHAREHOLDERS' FUNDS 154,480 106,172

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GLOBAL MARKET SUMMITS LTD (REGISTERED NUMBER: 07761940)

BALANCE SHEET - continued
31 DECEMBER 2024


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 10 July 2025 and were signed on its behalf by:




Mr A Uddin - Director



Mrs P Atwal-Uddin - Director


GLOBAL MARKET SUMMITS LTD (REGISTERED NUMBER: 07761940)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Global Market Summits Ltd 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. ACCOUNTING POLICIES

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

Preparation of consolidated financial statements
The financial statements contain information about Global Market Summits Ltd 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.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax, that are recognised when the event has taken place.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on reducing balance

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.


GLOBAL MARKET SUMMITS LTD (REGISTERED NUMBER: 07761940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
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.

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.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 165,131
AMORTISATION
At 1 January 2024 30,572
Charge for year 16,513
At 31 December 2024 47,085
NET BOOK VALUE
At 31 December 2024 118,046
At 31 December 2023 134,559

GLOBAL MARKET SUMMITS LTD (REGISTERED NUMBER: 07761940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2024 34,437
Additions 2,329
At 31 December 2024 36,766
DEPRECIATION
At 1 January 2024 23,617
Charge for year 2,630
At 31 December 2024 26,247
NET BOOK VALUE
At 31 December 2024 10,519
At 31 December 2023 10,820

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 196,025 346,962
Other debtors 34,541 31,135
230,566 378,097

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,000 50,000
Trade creditors 3,274 46,351
Taxation and social security 134,209 75,868
Other creditors 191,985 350,975
379,468 523,194

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 66,666 116,667

GLOBAL MARKET SUMMITS LTD (REGISTERED NUMBER: 07761940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000