REGISTERED NUMBER: 02294088 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

BORNGLOBE SYSTEMS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr I S Scott

REGISTERED OFFICE:

Fraser Ross House

24 Broad Street

Stamford

Lincolnshire

PE9 1PJ

REGISTERED NUMBER:

02294088 (England and Wales)

ACCOUNTANTS:

Brayshaw Morey

Certified Public Accountants

Fraser Ross House

24 Broad Street

Stamford

Lincolnshire

PE9 1PJ

BANKERS:

HSBC Bank plc

67 George Street

Richmond

Surrey

TW9 1HG

FIXED ASSETS

Tangible assets

5

-

-

Investment property

6

550,000

550,000

550,000

550,000

CURRENT ASSETS

Cash at bank

96,178

86,467

CREDITORS

Amounts falling due within one year

7

39,578

38,886

NET CURRENT ASSETS

56,600

47,581

TOTAL ASSETS LESS CURRENT LIABILITIES

606,600

597,581

PROVISIONS FOR LIABILITIES

61,149

61,149

NET ASSETS

545,451

536,432

CAPITAL AND RESERVES

Called up share capital

8

100

100

Fair value reserve

9

435,512

435,512

Retained earnings

9

109,839

100,820

SHAREHOLDERS' FUNDS

545,451

536,432

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 13 October 2025 and were signed by:

Mr I S Scott - Director

1.	STATUTORY INFORMATION

Bornglobe Systems 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.

Fixtures, fittings & equipment

-

20% on cost

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Computer

& equipment

equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

9,673

8,624

18,297

DEPRECIATION

At 1 April 2024

and 31 March 2025

9,673

8,624

18,297

NET BOOK VALUE

At 31 March 2025

-

-

-

At 31 March 2024

-

-

-

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

550,000

NET BOOK VALUE

At 31 March 2025

550,000

At 31 March 2024

550,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2017

394,012

Valuation in 2020

20,000

Valuation in 2021

9,500

Valuation in 2022

(4,500

)

Valuation in 2023

25,000

Cost

105,988

550,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Taxation and social security

2,153

2,243

Other creditors

37,425

36,643

39,578

38,886

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2024

100,820

435,512

536,332

Profit for the year

9,179

9,179

Dividends

(160

)

(160

)

At 31 March 2025

109,839

435,512

545,351