Registration number: 03943433

Global Operations & Administration Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Global Operations & Administration Limited

Company Information

Directors

E S B Howard J P Wearing

Company secretary

J Cole

Registered office

9 Perseverance Works Kingsland Road London E2 8DD

Solicitors

Irwin Mitchell 40 Holborn Viaduct London EC1N 2PZ

Bankers

National Westminster Bank Plc 1 High Street Croydon CR9 1UY

Global Operations & Administration Limited

(Registration number: 03943433)
Balance Sheet as at 28 February 2025

	Note	Period to 28 February 2025 £	Year to 30 September 2023 £
Current assets
Debtors	5	6,361	34
Cash at bank and in hand		3,949	4,892
		10,310	4,926
Creditors: Amounts falling due within one year	6	(56)	(15,916)
Net assets/(liabilities)		10,254	(10,990)
Capital and reserves
Called up share capital	7	1,000	1,000
Retained earnings		9,254	(11,990)
Shareholders' funds/(deficit)		10,254	(10,990)

For the financial period ending 28 February 2025 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 accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 October 2025 and signed on its behalf by:
 

E S B Howard
Director

Global Operations & Administration Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 9 Perseverance Works, Kingsland Road, London, E2 8DD, England.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Summary of disclosure exemptions

The company has taken advantage of the exemption available from disclosing transactions with other members of the group in accordance with FRS 102 Section 33.1a.

Revenue recognition

Turnover consists of licensing and supporting a withholding tax reclamation software package recognised in the period in which the services are made available, excluding value added tax. Support fees and Licence fees are invoiced in advance for fixed periods and taken to revenue on a straight line basis over the term of the contract. Revenue not recognised in the Statement of Comprehensive Income under this policy is classified as payments received on account.

Foreign currency transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined are recognised in the Statement of Comprehensive Income.

Tax

Current tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Global Operations & Administration Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 28 February 2025

Trade debtors

Trade debtors are amounts due from customers for the sale of withholding tax reclamation and licensing services. Trade debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as an employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Debt instruments that are payable or receivable within one year, typically trade payables, receivables and intercompany balances, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations rather than its legal form.

The company's cash at bank, trade and other debtors, trade and other payables, intercompany balances, and bank overdrafts are measured initially at the transaction price, including transaction cost, and subsequently at amortised cost using the effective interest method. Debt instruments that are repayable or receivable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

The intercompany balances are considered annually for recoverability and any impairment.
 

Global Operations & Administration Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 28 February 2025

Judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the financial position date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates. Areas of judgement and estimation that are most likely to have the most significant effect on the accounts are the recoverability of intercompany balances and the recoverability of deferred tax. The estimates and underlying assumptions are reviewed on an ongoing basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 4).

4	Exceptional item

The exceptional item in the year relates to the impairment of the inter-company balances as they are deemed irrecoverable.

	2023 £	30 September 2023  £
Inter-company loan write off	(38,357)	(557,031)
Close down costs	(24,319)	-
	(62,676)	(557,031)

5

Debtors

	2025 £	2023 £
Other debtors	6,361	34
	6,361	34

6

Creditors

	2025 £	2023 £
Due within one year
Trade creditors	56	-
Accruals and deferred income	-	15,916
	56	15,916