Company No: 04878093 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Directors	M J Clark
	J M Clark

Secretary

J M Clark

Registered office	Abbeylands
	Wineham Lane
	Henfield
	West Sussex
	BN5 9AQ
	United Kingdom

Company number

04878093 (England and Wales)

Accountant	Kreston Reeves LLP
	Springfield House
	Springfield Road
	Horsham
	West Sussex
	RH12 2RG

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	0		12,272
Tangible assets	4	40,560		59,476
		40,560		71,748
Current assets
Stocks		313,288		376,471
Debtors	5	104,706		61,695
Cash at bank and in hand		392,428		307,293
		810,422		745,459
Creditors: amounts falling due within one year	6	( 135,744)		( 86,905)
Net current assets		674,678		658,554
Total assets less current liabilities		715,238		730,302
Creditors: amounts falling due after more than one year	712	( 13,091)		( 49,900)
Provision for liabilities	8	( 7,957)		( 12,687)
Net assets		694,190		667,715
Capital and reserves
Called-up share capital	9	60,002		60,002
Profit and loss account		634,188		607,713
Total shareholders' funds		694,190		667,715

For the financial 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.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Global Parasols Limited (registered number: 04878093) were approved and authorised for issue by the Board of Directors on 25 September 2025. They were signed on its behalf by:

M J Clark Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Global Parasols Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Abbeylands, Wineham Lane, Henfield, West Sussex, BN5 9AQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	5 years straight line
Vehicles	5 years straight line
Office equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	9		8

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2024	188,809		188,809
At 31 December 2024	188,809		188,809
Accumulated amortisation
At 01 January 2024	176,537		176,537
Charge for the financial year	12,272		12,272
At 31 December 2024	188,809		188,809
Net book value
At 31 December 2024	0		0
At 31 December 2023	12,272		12,272

4. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£
Cost
At 01 January 2024	79,153		122,813		18,875		220,841
Additions	0		0		3,280		3,280
Disposals	( 643)		0		0		( 643)
At 31 December 2024	78,510		122,813		22,155		223,478
Accumulated depreciation
At 01 January 2024	66,106		84,430		10,829		161,365
Charge for the financial year	3,634		13,658		4,905		22,197
Disposals	( 644)		0		0		( 644)
At 31 December 2024	69,096		98,088		15,734		182,918
Net book value
At 31 December 2024	9,414		24,725		6,421		40,560
At 31 December 2023	13,047		38,383		8,046		59,476

5. Debtors

	2024		2023
	£		£
Trade debtors	15,707		10,352
Other debtors	88,999		51,343
	104,706		61,695

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	10,183		9,932
Trade creditors	26,317		15,865
Accruals	2,995		2,910
Corporation tax	31,756		23,651
Other taxation and social security	14,332		11,479
Obligations under finance leases and hire purchase contracts	26,627		7,325
Other creditors	23,534		15,743
	135,744		86,905

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	13,091		23,273
Obligations under finance leases and hire purchase contracts	0		26,627
	13,091		49,900

There are no amounts included above in respect of which any security has been given by the small entity.

8. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 12,687)		( 15,934)
Credited to the Statement of Income and Retained Earnings	4,730		3,247
At the end of financial year	( 7,957)		( 12,687)

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
60,002 Ordinary shares of £ 1.00 each	60,002		60,002

10. Financial commitments

Other financial commitments

	2024		2023
	£		£
Within one year	26,627		7,325
Between 1-5 years	0		26,627
	26,627		33,952

Minimum lease payments under hire purchase fall due as follows

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

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 £8,693 (2023 - £6,577).

11. Related party transactions

Transactions with the entity's directors

During the year the company continued to provide a loan to a director and the same director also provided the company with a loan. This loan is interest free and repayable on demand. During the year there were advances of £106,626 and repayments of £68,906. During the year there were dividends paid to directors of £60,000 (2023 - £60,000). At the balance sheet date the amount owed to Global Parasols Limited was £60,561 (2023 - £22,842), this amount was fully repaid post year-end.

12. Loans

	2024		2023
	£		£
Amounts falling due within one year	(10,183)		(9,932)
Amounts falling due 1-2 years	(10,440)		(10,182)
Amounts falling due 2-5 years	(2,651)		(13,091)
	(23,274)		(33,205)