Global Meter Systems Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03399481 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

GLOBAL METER SYSTEMS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J W Lester

S DaCosta

REGISTERED OFFICE:

Langley House

53 Theobald Street

Borehamwood

WD6 4RT

REGISTERED NUMBER:

03399481 (England and Wales)

ACCOUNTANTS:

Accura Accountants Ltd

Langley House

53 Theobald Street

Borehamwood

WD6 4RT

FIXED ASSETS

Intangible assets

4

1

Tangible assets

5

86,185

97,691

86,186

97,692

CURRENT ASSETS

Debtors

6

7,253

14,612

Cash at bank and in hand

9,219

15,925

16,472

30,537

CREDITORS

Amounts falling due within one year

7

156,582

162,694

NET CURRENT LIABILITIES

(140,110

)

(132,157

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(53,924

)

(34,465

)

CREDITORS

Amounts falling due after more than one
year

8

-

(10,833

)

PROVISIONS FOR LIABILITIES

(21,063

)

(23,833

)

NET LIABILITIES

(74,987

)

(69,131

)

CAPITAL AND RESERVES

Called up share capital

6

Retained earnings

(74,993

)

(69,137

)

SHAREHOLDERS' FUNDS

(74,987

)

(69,131

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 July 2026 and were signed on its behalf by:

J W Lester - Director

1.	STATUTORY INFORMATION

Global Meter 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.	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.

The financial statements have been prepared on the going concern basis, the applicability of which is dependent upon the continued support of the company's creditors and financiers. The Statement of Financial Position shows net liabilities, the directors our of the opinion that the creditors and financiers will continue to support it, and provide adequate funding when necessary to enable it to meet its obligations for the foreseeable future, being for a period of at least twelve months from the date of approval of the financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover represents net invoiced rental of goods, excluding value added tax. Rents are recognised on a monthly basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 20% Straight line method

Financial instruments

The company only enters into basic financial instruments 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 non-puttable 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 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.

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.

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 material 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of assets

A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the assets and generates cash inflows that are largely independent of the cash inflows from other assets or group of assets.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any material unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment or to provide termination benefits.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 December 2024

and 30 November 2025

141,050

AMORTISATION

At 1 December 2024

and 30 November 2025

141,049

NET BOOK VALUE

At 30 November 2025

1

At 30 November 2024

1

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 December 2024

1,064,328

Additions

21,175

At 30 November 2025

1,085,503

DEPRECIATION

At 1 December 2024

966,637

Charge for year

32,681

At 30 November 2025

999,318

NET BOOK VALUE

At 30 November 2025

86,185

At 30 November 2024

97,691

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

Trade debtors

780

-

Amounts owed by group undertakings

-

8,139

Other debtors

6,473

7,253

14,612

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

Bank loans and overdrafts

10,833

10,000

Trade creditors

2,209

311

Amounts owed to group undertakings

106,068

105,246

Taxation and social security

1,475

8,953

Other creditors

35,997

38,184

156,582

162,694

Within other creditors are accruals of £5,244 (2024 £569) and deferred income of £30,752 (2024: £37,615).

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.11.25

30.11.24

£

Bank loans

-

10,833

9.	ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking, who held 100% of the share capital during this period, is Onmedia Group Limited, registered in England and Wales, registration number 07137556 and registered office address is at

Langley House, Park Road, London N2 8EY, England.

Onmedia Group Ltd is controlled by the director of the company, Mr L DaCosta by virtue of majority share holdings.