Global Data Insights Limited iXBRL

Global Data Insights Limited

Financial Statements

for the financial year ended 31 December 2024

Global Data Insights Limited

DIRECTORS AND OTHER INFORMATION


Directors	Robert Boylan Gaddy (Appointed 10 June 2024)
	Gopal Kutwaroo (Appointed 10 June 2024)
	Marc Greenspan (Resigned 10 June 2024)
	Howard Block (Resigned 10 June 2024)


Company Registration Number	10808332


Registered Office and Business Address	4 Beaconsfield Road
	St Albans
	AL1 3RD
	England


Independent Auditors	Quarter
	Chartered Accountants and Statutory Auditors
	St.Annes House
	Cathedral Quarter
	15 Church Street
	Belfast
	Antrim
	BT1 1PG


Solicitors	Condon Tobin

INDEPENDENT AUDITOR'S REPORT

to the Shareholders of Global Data Insights Limited

Report on the audit of the financial statements

Opinion

We have audited the financial statements of Global Data Insights Limited ('the company') for the financial year ended 31 December 2024 which comprise the Statement of Financial Position and the related notes to the financial statements, including significant accounting policies set out in note . The financial reporting framework that has been applied in their preparation is applicable Law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the financial year then ended;

-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least 12 months from the date when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or

the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the Directors' Report.

Responsibilities of directors for the financial statements

The directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

A further description of our responsibilities for the audit of the financial statements is contained in the appendix to this report, located at page , which is to be read as an integral part of our report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

__________________________________

Damian McNicholl (Senior Statutory Auditor)

for and on behalf of

QUARTER

Chartered Accountants and Statutory Auditors

St.Annes House

Cathedral Quarter

15 Church Street

Belfast

Antrim

BT1 1PG

30 April 2026

Global Data Insights Limited

APPENDIX TO THE INDEPENDENT AUDITOR'S REPORT

Further information regarding the scope of our responsibilities as auditor

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors'.

Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Global Data Insights Limited

Company Registration Number: 10808332

STATEMENT OF FINANCIAL POSITION

as at 31 December 2024

		2024	2023
	Notes	$	$

Fixed Assets

Investments

12,706,673

12,706,673

─────────

Current Assets

Receivables

319,039

545,546

Cash and cash equivalents

2,685

2,930

─────────

321,724

548,476

─────────

Payables: amounts falling due within one year

(4,257,616)

(3,192,143)

─────────

Net Current Liabilities

(3,935,892)

(2,643,667)

─────────

Total Assets less Current Liabilities

8,770,781

10,063,006

Payables:

amounts falling due after more than one year

(19,598,228)

(19,598,228)

─────────

Net Liabilities

(10,827,447)

(9,535,222)

═════════

Equity

Called up share capital

Retained earnings

(10,827,448)

(9,535,223)

─────────

Equity attributable to owners of the company

(10,827,447)

(9,535,222)

═════════

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

The company has taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.

Approved by the Board and authorised for issue on 30 April 2026 and signed on its behalf by



________________________________
Gopal Kutwaroo
Director

Global Data Insights Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 December 2024

General Information

Global Data Insights Limited is a company limited by shares incorporated and registered in England. The registered number of the company is 10808332. The registered office of the company is 4 Beaconsfield Road, St Albans, AL1 3RD, England which is also the principal place of business of the company. The principal activity of the Company is that of a Holding company. The financial statements have been presented in US Dollar ($) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 31 December 2024 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) issued by the Financial Reporting Council and in accordance with the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Cash flow statement

The company has availed of the exemption in FRS 102 from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Consolidated accounts

The company is entitled to the exemption in Section 400 of the Companies Act 2006 from the obligation to prepare group accounts.

Finance Costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Investments

Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Income Statement in the financial year in which it is receivable.

Trade and other receivables

Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Borrowing costs

Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Trade and other payables

Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Employee benefits

The company does not operate a defined contribution pension scheme.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.

Foreign currencies

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. Nonmonetary 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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:

- at fair value with changes recognised in the Statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;

- at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Going concern

In preparing the financial statements the directors consider it appropriate to continue to use the going concern assumption, which assumes the Company will have sufficient resources to enable it to meet its liabilities as they fall due, including adequate financial support.

During the year the Company incurred a net loss of $1,292,225 (2023: $1,467,027) and at that date, the Company had net deficit of $10,827,447 (2023: $9,535,222).

The company is reliant on the trading performance and forecasts for Futuresource Consulting Limited, a subsidiary of Global Data Insights Limited. Futuresource Consulting Limited is a profitable entity with positive future cash flows. We have reviewed the financial statements of the company for year ended 31 December 2024 as well as management accounts for 2025 and future cash flows. The figures for year ended 31 December 2024 showed that Futuresource Consulting Limited was loss making but returned to profitability in 2025. The company has forecast strong growth for the year ahead.

Global Data Insights Limited has currently outstanding loans due to Hampton Asset Management LLC, Summerville Asset Management LLC and Capital Asset Fund III LLC totaling circa $20m. Global Data Insights Limited or its subsidiaries would not have the resources to repay these loans in full, so would be reliant on the loans rolling over or being restructured. A loan amendment agreement has been presented to us with the maturity date on the loans amended to 31st December 2027. The Lender entities are owned by Global Growth Holdings Inc, a related party. The Lenders borrowed money from the North Carolina Department of Insurance and other Insurance Companies.

Global Data Insights Limited has been named in a Chapter 15 bankruptcy adversary proceeding in the Southern District of New York. The joint provisional liquidators named 900 defendants including Global Data Insights Limited. The claim is against affiliates of Mr G Lindberg for fraud, avoidance and recovery of fraudulent transfers seeking to void IALA and MOU agreements. The joint provisional liquidators are attempting to recoup monies they believe have been siphoned via numerous transactions including repurchase agreements and loan transactions. The Solicitors have not formed a conclusion as to whether an unfavorable outcome is either probable or remote and consequently have not quantified any possible loss.

The directors are of the opinion that it is appropriate to prepare the financial statements on a going concern basis.

Critical Accounting Judgements and Estimates

The directors consider the accounting estimates and assumptions below to be its critical accounting judgements and estimates:

Impairment

In assessing impairment, management estimates the recoverable amount of each asset or cash-generating unit based on expected future cash flows and uses an interest rate to discount them. Estimation uncertainty relates to assumptions about future operating results and the determination of a suitable discount rate. A fair value valuation for the subsidiary was completed.

Going Concern

As described in the basis of preparation and going concern in Note 3 above, the validity of the going concern basis is dependent upon trading performance and forecasts of its subsidiary, that it will continue to perform well to be able to support its parent for a period not less than 12 months from the date of signing the financial statements. For this reason the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Employees

The average monthly number of employees, including directors, during the financial year was 2, (2023 - 3).

2024

2023

Number

Number

Director

═════════


6.	Tax on loss
		2024	2023
		$	$
	Analysis of charge in the financial year

	Current tax:
	Corporation tax	-	-
		═════════	═════════

	No charge to tax arises due to tax losses incurred.


7.	Investments
		Group and	Total
		participating
		interests/
		joint ventures
	Investments	$	$
	Cost

	At 31 December 2024	18,472,723	18,472,723
		─────────	─────────
	Provision for
	diminution in value:

	At 31 December 2024	5,766,050	5,766,050
		─────────	─────────
	Net book value
	At 31 December 2024	12,706,673	12,706,673
		═════════	═════════
	At 31 December 2023	12,706,673	12,706,673
		═════════	═════════

7.1.

Holdings in related undertakings

The company holds 20% or more of the share capital of the following company:

Country

Nature

Details

Proportion

held by

Name

incorporation and address of Registered Office

business

investment

company

Subsidiary undertaking

Futuresource Holdings Limited

4 Beaconfield Road, St Albans, AL1 3RD, England

Holding company

Ordinary

100%

In the opinion of the directors, the value to the company of the unlisted investments is not less than the book amount shown above.


8.	Receivables	2024	2023
		$	$

	Amounts owed by group undertakings	45,000	-
	Amounts owed by connected parties (Note 12)	272,485	268,023
	Other debtors	1	1
	Prepayments and accrued income	1,553	277,522
		─────────	─────────
		319,039	545,546
		═════════	═════════

Payables

2024

2023

Amounts falling due within one year

Trade payables

7,214

7,214

Amounts owed to group undertakings

2,765,394

2,687,230

Amounts owed to related parties (Note 12)

3,715

3,715

Other creditors

Accruals

1,481,292

493,983

─────────

4,257,616

3,192,143

═════════

Colorado Bankers Life Insurance Company have a fixed charge. They hold a fixed charge over the shares in the investment. The security contains a negative pledge.


10.	Payables	2024	2023
	Amounts falling due after more than one year	$	$

	Amounts owed to connected parties (Note 12)	19,598,228	19,598,228
		═════════	═════════

11.

Capital commitments

The company had no material capital commitments at the financial year-ended 31 December 2024.

12.

Related party transactions

Amounts owed to related parties bear interest at a fixed rate of 5%. The loan is repayable on 31 December 2027.

At 31 December 2024, there was an amount due to Futuresource Consulting Limited of $2,765,394 (2023: $2,687,230). Futuresource Consulting Limited is a subsidiary of the Company with a 100% indirect shareholding through Futuresource Holdings Limited.

At 31 December 2024, there was an amount due from Global A & D Holdings LLC, the immediate parent company of Global Data Insights Limited, of $45,000. During the year, Global Data Insights Limited paid trust notes on behalf of Global A & D Holdings LLC of $45,000.

At 31 December 2024. there was an amount due by Acquired Development LLC of $272,485 (2023 $268,023). Acquired Development LLC is wholly owned by Mr G Lindberg who was previously the ultimate controlling party of the parent company of Global Data Insights Ltd.

At 31 December 2024, there was an amount due to SixSails of $2,023. SixSails is wholly owned by Mr G Lindberg who was previously the ultimate controlling party of Global A&D Holdings LLC, which is the parent company of Global Data Insights Ltd.

At 31 December 2024, there was an amount due to Global Growth Holdings Inc of $1,692. Global Growth Holdings Inc is wholly owned by Mr G Lindberg who was previously the ultimate controlling party of Global A&D Holdings LLC, which is the parent company of Global Data Insights Ltd.

Balance

Movement

Balance

Maximum

2024

in year

2023

in year

Acquired Development LLC

272,485

4,462

268,023

267,573

The following amounts are due to other connected parties:

2024

2023

Amounts falling due after more than one year

19,598,228

19,598,228

═════════

Net balances with other connected parties:

2024

2023

Acquired Development LLC

272,485

268,023

Amounts falling due after more than one year

(19,598,228)

(19,598,228)

─────────

(19,325,743)

(19,330,205)

═════════

Net balances with related parties:

2024

2023

Trading amounts owed to related parties

1,692

1,692

═════════

2024

2023

Finance amounts owed to related parties

2,023

2,023

═════════

13.

Parent and ultimate parent company

The smallest and largest consolidated financial statements presented are that of Global A & D Holdings LLC, a USA registered entity.

The immediate parent company was Global A&D Holdings LLC, a company incorporated in the USA.

The ownership of Global A & D Holdings LLC was transferred to a US Investment Holding Trust on 27th January 2023. Robert Alban was appointed as the replacement Trustee and Ultimate Controlling Party on 17 April 2024.

14.

Auditor Remuneration

Auditors' remuneration of $56,164 was charged during the year to represent auditor remuneration sustained over 5 years

15.

Contingent Liability

We have received a response from the company solicitor and have noted the following;

There is an ongoing case with respect to the PB Life and Annuity Co Ltd, United States Bankruptcy Court, Southern District of New York, adversary Proceeding (Chapter 15 bankruptcy), the case is currently ongoing with the hearing due to dismiss in September 2024.

The solicitors are yet to conclude on the outcome of the case, therefore no liability has been recorded in relation to the case.