ACCOUNTS - Final Accounts

Registered number: 08802476

GLOBAL PARTNER SOLUTIONS EUROPE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

GLOBAL PARTNER SOLUTIONS EUROPE LIMITED

CONTENTS

	Page
Balance sheet	1
Notes to the financial statements	2 - 4

GLOBAL PARTNER SOLUTIONS EUROPE LIMITED

REGISTERED NUMBER: 08802476

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	113,335		4,619
Cash at bank and in hand		20,308		121
		133,643		4,740
Creditors: amounts falling due within one year	5	(401,137)		(131,498)
Net current liabilities			(267,494)		(126,758)
Total assets less current liabilities			(267,494)		(126,758)

Net liabilities			(267,494)		(126,758)

Capital and reserves
Called up share capital	6	1,000	1,000
Profit and loss account		(268,494)	(127,758)
		(267,494)	(126,758)

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 August 2025.

R Hachey

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

GLOBAL PARTNER SOLUTIONS EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Global Partner Solutions Europe Limited (the company) is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is Rutland House, 148 Edmund Street, Birmingham, B3 2FD.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The company is dependent upon the financial support of related undertakings. The directors have received assurances from the related undertakings that they will continue to provide the financial support necessary to enable the company to continue in operational existence for the foreseeable furture.
Accordingly, these financial statements have been prepared on the going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.5

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

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GLOBAL PARTNER SOLUTIONS EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Creditors

Short-term 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.

2.7

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

2.8

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 1).

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GLOBAL PARTNER SOLUTIONS EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	101,669	-
Other debtors	11,666	4,619
	113,335	4,619

5.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank overdraft	-	1,268
Trade creditors	25,273	6,662
Amounts owed to group undertakings	359,024	123,258
Other taxation and social security	8,542	-
Other creditors	3,118	-
Accruals and deferred income	5,180	310
	401,137	131,498

Bank overdraft was secured against company assets.

6.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1,000 (2023 - 1,000) A Ordinary shares of £1.00 each	1,000	1,000

7.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £17,626 (2023 - £Nil). Contributions totalling £3,118 (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

8.	Controlling party

At the balance sheet date the ultimate controlling party was 4332458 Canada Inc.

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