GML Global Trading Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04327059 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

GML Global Trading Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R K Shehata

SECRETARY:

REGISTERED OFFICE:

Upper Hannington

Stow Road

Andoversford

Cheltenham

GL54 5SH

REGISTERED NUMBER:

04327059 (England and Wales)

ACCOUNTANTS:

Trio Accountancy Services Ltd

The Limes

Bayshill Road

Cheltenham

Gloucestershire

GL50 3AW

FIXED ASSETS

Tangible assets

4

369,510

373,705

CURRENT ASSETS

Debtors

5

8,486,364

4,913,878

Cash at bank and in hand

507,945

1,419,741

8,994,309

6,333,619

CREDITORS

Amounts falling due within one year

6

4,649,812

2,546,441

NET CURRENT ASSETS

4,344,497

3,787,178

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,714,007

4,160,883

CAPITAL AND RESERVES

Called up share capital

2,030

Retained earnings

4,711,977

4,158,853

4,714,007

4,160,883

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 director acknowledges his 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 director and authorised for issue on 30 September 2025 and were signed by:

R K Shehata - Director

1.	STATUTORY INFORMATION

GML Global Trading Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

COST

At 1 January 2024

287,472

12,555

4,055

Additions

-

21,894

-

Disposals

-

(1,423

)

-

At 31 December 2024

287,472

33,026

4,055

DEPRECIATION

At 1 January 2024

-

7,890

1,167

Charge for year

-

3,105

811

At 31 December 2024

-

10,995

1,978

NET BOOK VALUE

At 31 December 2024

287,472

22,031

2,077

At 31 December 2023

287,472

4,665

2,888

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 January 2024

119,982

29,607

453,671

Additions

-

9,541

31,435

Disposals

-

(4,111

)

(5,534

)

At 31 December 2024

119,982

35,037

479,572

DEPRECIATION

At 1 January 2024

62,575

8,334

79,966

Charge for year

21,196

4,984

30,096

At 31 December 2024

83,771

13,318

110,062

NET BOOK VALUE

At 31 December 2024

36,211

21,719

369,510

At 31 December 2023

57,407

21,273

373,705

5.

DEBTORS

31.12.24

31.12.23

£

Amounts falling due within one year:

Trade debtors

4,828,736

3,111,097

Other debtors

91,311

9,341

Directors' current accounts

300,000

Tax

101,250

VAT

237,302

134,683

Prepayments

1,845,736

655,583

7,404,335

4,311,954

31.12.24

31.12.23

£

Amounts falling due after more than one year:

Other debtors

1,082,029

601,924

Aggregate amounts

8,486,364

4,913,878

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

1,982,572

626,757

Tax

902,380

830,263

Social security and other taxes

34,026

3,371

Other creditors

40,000

-

Barclaycard

11,598

11,848

Accrued expenses

1,679,236

1,074,202

4,649,812

2,546,441