IRIS Accounts Production v25.2.0.378 03239555 Board of Directors Board of Directors 1.4.24 31.3.25 31.3.25 false true false false false true false Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 03239555 2024-03-31 03239555 2025-03-31 03239555 2024-04-01 2025-03-31 03239555 2023-03-31 03239555 2023-04-01 2024-03-31 03239555 2024-03-31 03239555 ns15:EnglandWales 2024-04-01 2025-03-31 03239555 ns14:PoundSterling 2024-04-01 2025-03-31 03239555 ns10:Director1 2024-04-01 2025-03-31 03239555 ns10:Director2 2024-04-01 2025-03-31 03239555 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 03239555 ns10:SmallEntities 2024-04-01 2025-03-31 03239555 ns10:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 03239555 ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 03239555 ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 03239555 ns10:FullAccounts 2024-04-01 2025-03-31 03239555 1 2024-04-01 2025-03-31 03239555 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 03239555 ns5:CurrentFinancialInstruments 2025-03-31 03239555 ns5:CurrentFinancialInstruments 2024-03-31 03239555 ns5:Non-currentFinancialInstruments 2025-03-31 03239555 ns5:Non-currentFinancialInstruments 2024-03-31 03239555 ns5:ShareCapital 2025-03-31 03239555 ns5:ShareCapital 2024-03-31 03239555 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 03239555 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 03239555 ns5:NetGoodwill 2024-04-01 2025-03-31 03239555 ns5:IntangibleAssetsOtherThanGoodwill 2024-04-01 2025-03-31 03239555 ns5:PlantMachinery 2024-04-01 2025-03-31 03239555 ns5:ComputerEquipment 2024-04-01 2025-03-31 03239555 ns5:NetGoodwill 2024-03-31 03239555 ns5:NetGoodwill 2025-03-31 03239555 ns5:NetGoodwill 2024-03-31 03239555 ns5:LongLeaseholdAssets ns5:LandBuildings 2024-03-31 03239555 ns5:PlantMachinery 2024-03-31 03239555 ns5:MotorVehicles 2024-03-31 03239555 ns5:ComputerEquipment 2024-03-31 03239555 ns5:LongLeaseholdAssets ns5:LandBuildings 2024-04-01 2025-03-31 03239555 ns5:MotorVehicles 2024-04-01 2025-03-31 03239555 ns5:LongLeaseholdAssets ns5:LandBuildings 2025-03-31 03239555 ns5:PlantMachinery 2025-03-31 03239555 ns5:MotorVehicles 2025-03-31 03239555 ns5:ComputerEquipment 2025-03-31 03239555 ns5:LongLeaseholdAssets ns5:LandBuildings 2024-03-31 03239555 ns5:PlantMachinery 2024-03-31 03239555 ns5:MotorVehicles 2024-03-31 03239555 ns5:ComputerEquipment 2024-03-31 03239555 ns5:CostValuation 2024-03-31 03239555 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 03239555 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 03239555 ns5:WithinOneYear 2025-03-31 03239555 ns5:WithinOneYear 2024-03-31 03239555 ns5:BetweenOneFiveYears 2025-03-31 03239555 ns5:BetweenOneFiveYears 2024-03-31 03239555 ns5:AllPeriods 2025-03-31 03239555 ns5:AllPeriods 2024-03-31 03239555 ns5:DeferredTaxation 2024-03-31 03239555 ns5:DeferredTaxation 2024-04-01 2025-03-31 03239555 ns5:DeferredTaxation 2025-03-31 03239555 ns10:OrdinaryShareClass1 2025-03-31

REGISTERED NUMBER: 03239555 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

GLOBAL FILTERS LIMITED

GLOBAL FILTERS LIMITED (REGISTERED NUMBER: 03239555)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page |

Balance sheet | 1 |

Notes to the financial statements | 3 |

GLOBAL FILTERS LIMITED (REGISTERED NUMBER: 03239555)

BALANCE SHEET

31 MARCH 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

Fixed assets

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 513,646 |  | 568,873 |  |

Investments | 6 | 100 |  | 100 |  |

513,746 |  | 568,973 |  |

Current assets

Stocks | 366,406 |  | 426,637 |  |

Debtors | 7 | 549,871 |  | 566,602 |  |

Cash at bank and in hand | 520,278 |  | 734,810 |  |

1,436,555 |  | 1,728,049 |  |

Creditors

Amounts falling due within one year | 8 | 603,338 |  | 584,143 |  |

Net current assets | 833,217 |  | 1,143,906 |  |

Total assets less current liabilities | 1,346,963 |  | 1,712,879 |  |

Creditors

Amounts falling due after more than one year | 9 | (100 | ) | (100 | ) |

Provisions for liabilities | 12 | (128,170 | ) | (141,460 | ) |

Net assets | 1,218,693 |  | 1,571,319 |  |

Capital and reserves

Called up share capital | 13 | 10,000 |  | 10,000 |  |

Retained earnings | 1,208,693 |  | 1,561,319 |  |

Shareholders' funds | 1,218,693 |  | 1,571,319 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 FILTERS LIMITED (REGISTERED NUMBER: 03239555)

BALANCE SHEET - continued

31 MARCH 2025

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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2025 and were signed on its behalf by:

Mr J A J Clarke - Director

Mrs R L Clarke - Director

GLOBAL FILTERS LIMITED (REGISTERED NUMBER: 03239555)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | Statutory information

| Global Filters Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03239555. The registered office and business address is 25 Black Moor Road, Ebblake Industrial Estate, Verwood, Dorset, BH31 6BE.

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.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

| Revenue from the sale of goods is recognised when all the following conditions are satisfied:

| - the company has transferred to the buyer the significant risks and rewards of ownership of the goods;

| - the company retains neither continuing managerial involvement to the degree usually associated with

| ownership nor effective control over the goods sold;

| - the amount of revenue can be measured reliably;

| - it is probable that the economic benefits associated with the transaction will flow to the company;

| and

| - the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

| Goodwill

| Goodwill has now been fully amortised.

| 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.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery | - | 15% on reducing balance

| Computer equipment | - | 25% on cost

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

| When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of an write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

| Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

GLOBAL FILTERS LIMITED (REGISTERED NUMBER: 03239555)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | Accounting policies - continued

| 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.

| 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| 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.

| Financial instruments

| Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

| At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

| Group accounts

| The financial statements present information about the company as an individual undertaking and not about its group. The company, along with its parent and subsidiary comprise a small-sized group. The group has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

3. | Employees and directors

| The average number of employees during the year was 47 (2024 - 42 ) .

GLOBAL FILTERS LIMITED (REGISTERED NUMBER: 03239555)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

4. | Intangible fixed assets

| Goodwill

£ |

| Cost

| At 1 April 2024

| and 31 March 2025 | 725,009 |  |

| Amortisation

| At 1 April 2024

| and 31 March 2025 | 725,009 |  |

| Net book value

| At 31 March 2025 | - |  |

| At 31 March 2024 | - |  |

5. | Tangible fixed assets

| Long |  | Plant and |  | Motor |  | Computer |

| leasehold |  | machinery |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| Cost

| At 1 April 2024 | 4,222 |  | 1,800,900 |  | 18,624 |  | 30,367 |  | 1,854,113 |  |

| Additions | - |  | 18,025 |  | - |  | 22,861 |  | 40,886 |  |

| Disposals | - |  | (70,000 | ) | (18,624 | ) | (6,785 | ) | (95,409 | ) |

| At 31 March 2025 | 4,222 |  | 1,748,925 |  | - |  | 46,443 |  | 1,799,590 |  |

| Depreciation

| At 1 April 2024 | 4,222 |  | 1,242,769 |  | 18,624 |  | 19,625 |  | 1,285,240 |  |

| Charge for year | - |  | 85,256 |  | - |  | 8,453 |  | 93,709 |  |

| Eliminated on disposal | - |  | (67,596 | ) | (18,624 | ) | (6,785 | ) | (93,005 | ) |

| At 31 March 2025 | 4,222 |  | 1,260,429 |  | - |  | 21,293 |  | 1,285,944 |  |

| Net book value

| At 31 March 2025 | - |  | 488,496 |  | - |  | 25,150 |  | 513,646 |  |

| At 31 March 2024 | - |  | 558,131 |  | - |  | 10,742 |  | 568,873 |  |

6. | Fixed asset investments

| Shares in

| group

| undertakings

£ |

| Cost

| At 1 April 2024

| and 31 March 2025 | 100 |  |

| Net book value

| At 31 March 2025 | 100 |  |

| At 31 March 2024 | 100 |  |

GLOBAL FILTERS LIMITED (REGISTERED NUMBER: 03239555)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

7. | Debtors: amounts falling due within one year |

2025 | 2024 |

£ | £ |

| Trade debtors | 460,777 |  | 478,642 |  |

| Other debtors | 17,400 |  | 19,560 |  |

| Prepayments | 71,694 |  | 68,400 |  |

549,871 |  | 566,602 |  |

8. | Creditors: amounts falling due within one year |

2025 | 2024 |

£ | £ |

| Trade creditors | 218,609 |  | 255,275 |  |

| Amounts owed to group undertakings | 6,070 |  | 6,070 |  |

| Tax | 91,311 |  | 50,404 |  |

| Social security and other taxes | 44,023 |  | 34,450 |  |

| Wages creditor | 16,036 |  | 11,679 |  |

| Pension creditor | 9,822 |  | 7,869 |  |

| VAT | 125,150 |  | 100,782 |  |

| Accruals and deferred income | 92,317 |  | 117,614 |  |

603,338 |  | 584,143 |  |

9. | Creditors: amounts falling due after more than one year |

2025 | 2024 |

£ | £ |

| Other creditors | 100 |  | 100 |  |

10. | Leasing agreements

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 170,420 |  | 163,040 |  |

| Between one and five years | 245,501 |  | 458,485 |  |

415,921 |  | 621,525 |  |

11. | Secured debts

| All monies owed to RBS Invoice Finance Limited are secured by way of fixed and floating charges over all the property or undertaking of the company dated 25 May 2016.

12. | Provisions for liabilities

2025 | 2024 |

£ | £ |

| Deferred tax | 128,170 |  | 141,460 |  |

GLOBAL FILTERS LIMITED (REGISTERED NUMBER: 03239555)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

12. | Provisions for liabilities - continued

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 141,460 |  |

| Credit to Income statement during year | (13,290 | ) |

| Balance at 31 March 2025 | 128,170 |  |

13. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 10,000 | Ordinary | £1 | 10,000 |  | 10,000 |  |

14. | Ultimate controlling party

| The company is controlled by the directors Mr J A J Clarke and Mrs R L Clarke, who together own 100% of the share capital of its parent company Plastic Filters Ltd.