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Registered number: 03744435
Global Journey Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
The Accountancy People Manchester Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03744435
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 53,702 69,129
53,702 69,129
CURRENT ASSETS
Stocks 5 266,300 337,417
Debtors 6 115,633 185,015
Cash at bank and in hand 15,573 18,195
397,506 540,627
Creditors: Amounts Falling Due Within One Year 7 (126,315 ) (146,339 )
NET CURRENT ASSETS (LIABILITIES) 271,191 394,288
TOTAL ASSETS LESS CURRENT LIABILITIES 324,893 463,417
Creditors: Amounts Falling Due After More Than One Year 8 (119,951 ) (136,606 )
NET ASSETS 204,942 326,811
CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Share premium account 165,100 165,100
Profit and Loss Account 29,842 151,711
SHAREHOLDERS' FUNDS 204,942 326,811
Page 1
Page 2
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 member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ian Samuels
Director
29 September 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Global Journey Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03744435 . The registered office is Unit 3 Boston Court, Kansas Avenue Salford Quays, Manchester, M50 2GN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing Balance
Motor Vehicles 15% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 25% On Cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 18)
13 18
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 14,442 199,258 111,792 61,722 387,214
Additions - - 1,361 1,226 2,587
As at 31 December 2024 14,442 199,258 113,153 62,948 389,801
Depreciation
As at 1 January 2024 4,108 153,100 104,941 55,936 318,085
Provided during the period 1,521 11,540 1,219 3,734 18,014
As at 31 December 2024 5,629 164,640 106,160 59,670 336,099
Net Book Value
As at 31 December 2024 8,813 34,618 6,993 3,278 53,702
As at 1 January 2024 10,334 46,158 6,851 5,786 69,129
Cost or valuation as at 31 December 2024 represented by:
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
At cost 14,442 199,258 113,153 62,948 389,801
14,442 199,258 113,153 62,948 389,801
Included within the net book value of Fixtures & Fittings above is £445 (2023 - £523) in respect of
freehold land and buildings.
5. Stocks
2024 2023
£ £
Stock 266,300 337,417
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 62,363 93,709
Other debtors 32,231 52,592
Other debtors (1) 21,039 38,714
115,633 185,015
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 43,496 55,439
Bank loans and overdrafts - 10,152
Other taxes and social security 4,824 8,290
VAT 62,236 48,900
Net wages - 6,467
Other creditors 8,594 8,026
Other creditors (5) 6,165 8,065
Accruals and deferred income 1,000 1,000
126,315 146,339
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors loan account 119,951 136,606
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
10. Related Party Transactions
Included within Debtors are monies loaned from Global Journey Limited by Global Journey Media Limited, at the year end the balance on this loan was £21,039 (2023: £38,714).
11. Ultimate Controlling Party
The company's ultimate controlling party is Colin Samuels and Ian Samuels by virtue of their ownership of 65% of the issued share capital in the company.
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