REGISTERED NUMBER: 08225665

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Global Tech Sourcing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Lacey

R Lacey

REGISTERED OFFICE:

Unit 4

Willowbridge Way

Whitwood

West Yorkshire

WF10 5NP

REGISTERED NUMBER:

08225665

ACCOUNTANTS:

SMH Reed Smith Ltd

Copia House

Great Cliffe Court

Great Cliffe Road

Barnsley

S75 3SP

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

520,180

31,000

520,180

31,000

CURRENT ASSETS

Inventories

6

589,731

387,722

Debtors

7

1,403,019

1,740,915

Cash at bank

15,639

24,584

2,008,389

2,153,221

CREDITORS

Amounts falling due within one year

8

1,269,666

1,472,237

NET CURRENT ASSETS

738,723

680,984

TOTAL ASSETS LESS CURRENT LIABILITIES

1,258,903

711,984

CREDITORS

Amounts falling due after more than one year

9

(439,116

)

(26,478

)

PROVISIONS FOR LIABILITIES

(130,045

)

(7,750

)

NET ASSETS

689,742

677,756

CAPITAL AND RESERVES

Called up share capital

6

6

Retained earnings

689,736

677,750

SHAREHOLDERS' FUNDS

689,742

677,756

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by:

R Lacey - Director

M Lacey - Director

1.	STATUTORY INFORMATION

Global Tech Sourcing Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Office equipment

-

33% on cost and 20% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2024

and 31 December 2024

25,800

AMORTISATION

At 1 January 2024

and 31 December 2024

25,800

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	PROPERTY, PLANT AND EQUIPMENT

Office

Motor

equipment

vehicles

Totals

£

£

£

COST

At 1 January 2024

5,643

31,325

36,968

Additions

-

610,521

610,521

At 31 December 2024

5,643

641,846

647,489

DEPRECIATION

At 1 January 2024

5,643

325

5,968

Charge for year

-

121,341

121,341

At 31 December 2024

5,643

121,666

127,309

NET BOOK VALUE

At 31 December 2024

-

520,180

520,180

At 31 December 2023

-

31,000

31,000

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

31,325

Additions

610,521

At 31 December 2024

641,846

DEPRECIATION

At 1 January 2024

325

Charge for year

121,341

At 31 December 2024

121,666

NET BOOK VALUE

At 31 December 2024

520,180

At 31 December 2023

31,000

6.	INVENTORIES

2024

2023

£

£

Stocks

589,731

387,722

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

403,055

367,581

Amounts owed by associates

998,313

1,371,530

Section 455 tax

1,651

1,651

Prepayments

-

153

1,403,019

1,740,915

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

752

-

Hire purchase contracts

114,121

4,847

Trade creditors

513,072

323,010

Amounts owed to associates

279,867

770,483

Taxation and social security

319,892

325,950

Other creditors

41,962

47,947

1,269,666

1,472,237

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

439,116

26,478

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Sales invoice finance

41,950

47,934

The sale invoice finance is secured by a charge over the book debts of the company.

11.	RELATED PARTY DISCLOSURES

12.	ULTIMATE CONTROLLING PARTY