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GLOCAL COMMUNITIES LIMITED

Registered Number
08026985
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2025

GLOCAL COMMUNITIES LIMITED
Company Information
for the year from 1 February 2024 to 31 January 2025

Directors | Ms Terri Fresko
| Mr Morris Tarragano

Registered Address | 7 Crowborough Road
| Saltdean
| Brighton
| BN2 8EA

Registered Number | 08026985 (England and Wales)

GLOCAL COMMUNITIES LIMITED
Balance Sheet as at
31 January 2025

| Notes | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Current assets |  |  |  |  |  |  |  |
Debtors | 3 | 209,274 |  |  |  | 11,431 |  |
Cash at bank and on hand |  | 6,462 |  |  |  | 145,921 |  |
|  | 215,736 |  |  |  | 157,352 |  |
Creditors amounts falling due within one year | 4 | (30,844) |  |  |  | (8,100) |  |
Net current assets (liabilities) |  |  |  | 184,892 |  |  |  | 149,252
Total assets less current liabilities |  |  |  | 184,892 |  |  |  | 149,252
Net assets |  |  |  | 184,892 |  |  |  | 149,252
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 1,000 |  |  |  | 1,000
Profit and loss account |  |  |  | 183,892 |  |  |  | 148,252
Shareholders' funds |  |  |  | 184,892 |  |  |  | 149,252

- The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
- The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 28 October 2025, and are signed on its behalf by:
Mr Morris Tarragano Director Registered Company No. 08026985

GLOCAL COMMUNITIES LIMITED
Notes to the Financial Statements
for the year ended 31 January 2025

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| Basis of preparation
--- | ---
| These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. The income statement and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

| Turnover policy
--- | ---
| 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. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

| Foreign currency translation
--- | ---
| Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

| Current taxation
--- | ---
| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

| Deferred tax
--- | ---
| Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

| 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 current liabilities.

| Financial instruments
--- | ---
| The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. | Average number of employees
--- | ---

|  | 2025 |  | 2024
| Average number of employees during the year | 3 |  | 3

3. | Debtors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 3,660 |  | 2,395
| Other debtors | 205,614 |  | 9,036
| Total | 209,274 |  | 11,431

4. | Creditors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 21,698 |  | -
| Taxation and social security | 8,658 |  | 8,100
| Other creditors | 488 |  | -
| Total | 30,844 |  | 8,100

5. | Share capital
--- | ---
| Allotted, issued and fully paid 1,000 Ordinary Equity Shares of nominal value £1 each.

6. | Related party transactions
--- | ---
| As at the year end, the company had receivable balances of £125,543 (2024: £4,514) from M Tarragano and £80,068 (2024: £4,520) from T Fresko, directors. In this reporting period, the company provided real estate management services totalling £18,468 (2024: £21,564) to the directors M Tarragano and T Fresko. The maximum receivable balances in the period were £125,542 and £83,360 respectively with M Tarragano and T Fresko. The company charged interest at annualised rate of 2.25% on any balance greater than £10,000 payable to the company by directors. In the reporting period, the company provided management and associated services to Link Accountancy Partnership Ltd totalling £18,650, a company in which the M Tarragano is a director. Other Creditors including a payable balance of £21,698 to Link Kaplan Limited, a company in which M Tarragano is a shareholding director.