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Company Registration No. 04957772 (England and Wales)
Global Shipping Master Uk Limited Unaudited accounts for the year ended 31 December 2024
Global Shipping Master Uk Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Global Shipping Master Uk Limited Company Information for the year ended 31 December 2024
Director
Ki Shik Kim
Company Number
04957772 (England and Wales)
Registered Office
Unit 48 Phoenix Way Hounslow TW5 9NB United Kingdom
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Global Shipping Master Uk Limited Statement of financial position as at 31 December 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
16,185
21,065
Investments
5
40,000
40,000
56,185
61,065
Current assets
Debtors
6
16,697
112,723
Cash at bank and in hand
4,428
39,677
21,125
152,400
Creditors: amounts falling due within one year
7
(463,161)
(369,273)
Net current liabilities
(442,036)
(216,873)
Total assets less current liabilities
(385,851)
(155,808)
Creditors: amounts falling due after more than one year
8
(98,187)
(110,396)
Provisions for liabilities
Deferred tax
(3,289)
(4,417)
Net liabilities
(487,327)
(270,621)
Capital and reserves
Called up share capital
451,000
451,000
Profit and loss account
(938,327)
(721,621)
Shareholders' funds
(487,327)
(270,621)
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. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 September 2025 and were signed on its behalf by
Ki Shik Kim Director Company Registration No. 04957772
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Global Shipping Master Uk Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Global Shipping Master Uk Limited is a private company, limited by shares, registered in England and Wales, registration number 04957772. The registered office is Unit 48 Phoenix Way, Hounslow, TW5 9NB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
60,327
3,501
57,733
121,561
Additions
-
-
516
516
At 31 December 2024
60,327
3,501
58,249
122,077
Depreciation
At 1 January 2024
55,192
3,238
42,066
100,496
Charge for the year
1,284
66
4,046
5,396
At 31 December 2024
56,476
3,304
46,112
105,892
Net book value
At 31 December 2024
3,851
197
12,137
16,185
At 31 December 2023
5,135
263
15,667
21,065
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Global Shipping Master Uk Limited Notes to the Accounts for the year ended 31 December 2024
5
Investments
Other investments
£
Valuation at 1 January 2024
40,000
Valuation at 31 December 2024
40,000
6
Debtors
2024
2023
£
£
Amounts falling due within one year
VAT
-
264
Trade debtors
10,797
85,997
Accrued income and prepayments
5,900
6,262
16,697
92,523
Amounts falling due after more than one year
Accrued income and prepayments
-
20,200
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
(47,598)
-
VAT
(4,314)
-
Trade creditors
479,506
358,122
Taxes and social security
-
10,322
Other creditors
35,567
829
463,161
369,273
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
16,059
24,951
Other creditors
82,128
85,445
98,187
110,396
9
Average number of employees
During the year the average number of employees was 6 (2023: 13).
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