REGISTERED NUMBER: 04013539 (England and Wales)

GLOBAL PRAXIS GROUP LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

J P A Evrard

R Verges Bru

Registered office:

3rd Floor

86 - 90 Paul Street

London

EC2A 4NE

Registered number:

04013539 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Bankers:

Banco Sabadell

30 St. Mary Axe

London

EC3A 8EP

Current assets

Debtors

4

872,551

1,428,631

Cash at bank

397,531

394,490

1,270,082

1,823,121

Creditors

Amounts falling due within one year

5

(1,015,583

)

(1,571,608

)

Net current assets

254,499

251,513

Total assets less current liabilities

254,499

251,513

Capital and reserves

Called up share capital

7

3,206

3,206

Retained earnings

8

251,293

248,307

Shareholders' funds

254,499

251,513

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.

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 29 September 2025 and were signed on its behalf by:

J P A Evrard - Director

1.	Statutory information

Global Praxis Group Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04013539 and registered office address is 3rd Floor, 86-90 Paul Street, London, England, EC2A 4NE.

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.

The financial statements are prepared in euros, which is the functional currency of the company. Monetary amounts in these financial statement are rounded to the nearest euro.

Going concern

The directors have identified no material uncertainties that cast significant doubt about the ability of the company to continue as a going concern.

Key sources of estimation uncertainty and judgements

Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically.

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

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.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument.

An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

3.	Employees and directors

The average number of employees during the year was 7 (2023 - 9 ) .

4.

Debtors: amounts falling due within one year

2024

2023

€

€

Trade debtors

51,000

1,422,337

Amounts owed by group undertakings

815,106

-

Other debtors

6,445

6,294

872,551

1,428,631

5.

Creditors: amounts falling due within one year

2024

2023

€

€

Trade creditors

101,875

115,006

Amounts owed to group undertakings

906,708

907,891

Other creditors

-

74,115

Deferred income

-

467,746

Accrued expenses

7,000

6,850

1,015,583

1,571,608

6.	Leasing agreements

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

2024

2023

€

€

Within one year

6,552

15,106

Between one and five years

-

7,553

6,552

22,659

7.	Called up share capital

Allotted and issued:

Number:

Class:

Nominal

2024

2023

Value:

€

€

2,000

Ordinary share capital

€1.603

3,206

3,206

8.

Reserves

Retained

earnings

€

At 1 January 2024

248,307

Profit for the year

2,986

At 31 December 2024

251,293

9.	Directors' advances, credits and guarantees

During the year Global Praxis Group Limited purchased services in the normal course of business from directors at a cost of €345,000 (2023: €345,000). At the year end the company owed €nil (2023: €nil) to the directors.

10.	Related party disclosures

During the year Global Praxis Group Limited purchased services in the normal course of business from group companies at a cost of €1,490,291.20 (2023: €1,262,180).

Income was received from group companies during the year in the normal course of business in the amount of €815,106.32 (2023: €691,396).

At the year end the company owed €906,708 (2023: €907,891) to companies under common control.

11.	Ultimate controlling party

The ultimate parent company is Global Praxis Group S.A. registered in Spain.