Company Registration No. 10272314 (England and Wales)
Global IT Supplies Limited
Unaudited accounts
for the year ended 31 December 2024
Global IT Supplies Limited
Unaudited accounts
Contents
Global IT Supplies Limited
Company Information
for the year ended 31 December 2024
Directors
A Hanrahan
Alex Hanrahan
Company Number
10272314 (England and Wales)
Registered Office
Unit 6 The Links Business Centre
Raynham Road
Bishops Stortford
Hertfordshire
CM23 5NZ
United Kingdom
Accountants
Deciphr Ltd
Unit 11 Holts Court
Threshers Bush
Harlow
Essex
CM17 0NS
Global IT Supplies Limited
Statement of financial position
as at 31 December 2024
Tangible assets
62,089
62,089
Cash at bank and in hand
105,852
195,193
Creditors: amounts falling due within one year
(113,321)
(99,917)
Net current assets
156,054
248,460
Total assets less current liabilities
218,143
310,549
Creditors: amounts falling due after more than one year
(15,302)
(25,833)
Net assets
202,841
284,716
Called up share capital
100
100
Profit and loss account
202,741
284,616
Shareholders' funds
202,841
284,716
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by
A Hanrahan
Director
Company Registration No. 10272314
Global IT Supplies Limited
Notes to the Accounts
for the year ended 31 December 2024
Global IT Supplies Limited is a private company, limited by shares, registered in England and Wales, registration number 10272314. The registered office is Unit 6 The Links Business Centre, Raynham Road, Bishops Stortford, Hertfordshire, CM23 5NZ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% on Cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Global IT Supplies Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
68,080
26,396
18,339
112,815
At 31 December 2024
68,080
26,396
18,339
112,815
At 1 January 2024
39,542
6,599
4,585
50,726
At 31 December 2024
39,542
6,599
4,585
50,726
At 31 December 2024
28,538
19,797
13,754
62,089
At 31 December 2023
28,538
19,797
13,754
62,089
Amounts falling due within one year
Trade debtors
67,175
62,660
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
28,008
11,770
Taxes and social security
272
10,276
Loans from directors
76,569
74,302
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).