Company No: 04512110 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	67,990		128,588
Tangible assets	4	1,907		1,761
Investments	5	267,441		267,441
		337,338		397,790
Current assets
Debtors	6	754,161		750,258
Cash at bank and in hand	7	98,092		189,223
		852,253		939,481
Creditors: amounts falling due within one year	8	( 375,664)		( 343,511)
Net current assets		476,589		595,970
Total assets less current liabilities		813,927		993,760
Creditors: amounts falling due after more than one year	9	( 644,946)		( 672,389)
Net assets		168,981		321,371
Capital and reserves
Called-up share capital	10	93		93
Profit and loss account		168,888		321,278
Total shareholder's funds		168,981		321,371

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Global Career Company Limited (registered number: 04512110) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

R Adcock Director

26 November 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Global Career Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is The Minstrels, Fishery Road, Maidenhead, SL6 1UP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings	5 years straight line
Other property, plant and equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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 creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	4		5

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2024	1,251,610		1,251,610
At 31 December 2024	1,251,610		1,251,610
Accumulated amortisation
At 01 January 2024	1,123,022		1,123,022
Charge for the financial year	60,598		60,598
At 31 December 2024	1,183,620		1,183,620
Net book value
At 31 December 2024	67,990		67,990
At 31 December 2023	128,588		128,588

4. Tangible assets

	Fixtures and fittings		Other property, plant and equipment		Total
	£		£		£
Cost
At 01 January 2024	16,209		400,081		416,290
Additions	0		804		804
At 31 December 2024	16,209		400,885		417,094
Accumulated depreciation
At 01 January 2024	16,209		398,320		414,529
Charge for the financial year	0		658		658
At 31 December 2024	16,209		398,978		415,187
Net book value
At 31 December 2024	0		1,907		1,907
At 31 December 2023	0		1,761		1,761

5. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	61
At 31 December 2024	61
Carrying value at 31 December 2024	61
Carrying value at 31 December 2023	61

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 January 2024	267,380		267,380
At 31 December 2024	267,380		267,380
Carrying value at 31 December 2024	267,380		267,380
Carrying value at 31 December 2023	267,380		267,380

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.12.2024	Ownership 31.12.2023
Global Career Company in Africa (Pty) Ltd	South Africa	Recruitment Company	Ordinary	100.00%	100.00%

6. Debtors

	2024		2023
	£		£
Trade debtors	13,044		491,222
Amounts owed by group undertakings	211,001		213,647
Other debtors	530,116		45,389
	754,161		750,258

7. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	98,092		189,223

8. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	10,397		10,140
Trade creditors	24,300		13,866
Amounts owed to group undertakings	59,763		945
Other loans (secured £ 49,345)	76,375		74,596
Accruals	65,524		89,611
Taxation and social security	128,574		141,195
Other creditors	10,731		13,158
	375,664		343,511

9. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	4,377		14,806
Amounts owed to directors	483,929		424,568
Other loans (secured £ 139,511)	156,640		233,015
	644,946		672,389

10. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
8,636 Ordinary shares of £ 0.01 each	86.36		86.36
307 Ordinary A shares of £ 0.01 each	3.07		3.07
307 Ordinary B shares of £ 0.01 each	3.07		3.07
	92.50		92.50

11. Financial commitments

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

	2024		2023
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	0		562

12. Related party transactions

Included within other creditors is a balance of £453,824 (2023: £424,568) owed to the directors. This balance is unsecured, with no fixed repayment terms.

13. Loans

Amounts falling due within one year

	2024		2023
	£		£
Bank Loans	10,397		10,140
Other	76,375		74,595
	86,772		84,735

Amounts falling due 1-2 years

	2024		2023
	£		£
Bank Loans	4,377		10,397
Other Loans	66,437		77,279
	70,814		87,675

Amounts falling due 2-5 Years

	2024		2023
	£		£
Bank Loans	0		4,409
Other Loans	90,203		155,736
	90,203		160,145