Global Shieldtech Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC466133

Global Shieldtech Limited

Filleted Unaudited Financial Statements

31 December 2024

Global Shieldtech Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Current Assets

Debtors	4	597	466
Cash at bank and in hand		2,440	3,377
		-------	-------
		3,037	3,843

Creditors: amounts falling due within one year	5	399,572		392,469
		---------		---------
Net Current Liabilities			396,535	388,626
			---------	---------
Total Assets Less Current Liabilities			( 396,535)	( 388,626)
			---------	---------
Net Liabilities			( 396,535)	( 388,626)
			---------	---------

Capital and Reserves

Called up share capital	1	1
Profit and loss account	( 396,536)	( 388,627)
	---------	---------
Shareholders Deficit	( 396,535)	( 388,626)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 16 September 2025 , and are signed on behalf of the board by:

Mr B McGarian
Director

Company registration number: SC466133

Global Shieldtech Limited

Notes to the Financial Statements

Year Ended 31 December 2024

1. General Information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Dundee One, River Court, 5 West Victoria Dock Road, Dundee, DD1 3JT.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going Concern

The company has made a loss of £7,909 (2023 - £19,663) during the year and has net liabilities of £396,535 (2023 - £388,626). The director confirms he will not seek a repayment of his loan account and will continue to support the company for at least 12 months from the date of these financial statements. Based on this, the director considers it appropriate to prepare the financial statements on the going concern basis.

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Financial Instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Debtors

	2024	2023
	£	£
Other debtors	597	466
	----	----

5. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	3,063	960
Accruals and deferred income	1,000	1,000
Director loan accounts	375,509	370,509
Other creditors	20,000	20,000
	---------	---------
	399,572	392,469
	---------	---------

6. Director's Advances, Credits and Guarantees

During the year the director entered into the following advances and credits with the company:

	2024
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
Mr B McGarian	( 370,509)	( 5,000)	( 375,509)
	---------	-------	---------

	2023
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
Mr B McGarian	( 347,609)	( 22,900)	( 370,509)
	---------	--------	---------