COMPANY REGISTRATION NUMBER:
03502745
FILLETED UNAUDITED FINANCIAL STATEMENTS
|
|
YEAR ENDED 1 AUGUST 2017
Officers and professional advisers
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1
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Statement of financial position
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2
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Notes to the financial statements
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3
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The following pages do not form part of the financial statements
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
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6
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STATEMENT OF FINANCIAL POSITION
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1 August 2017
Current assets
Debtors
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5
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–
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1
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Cash at bank and in hand
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14,200
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8,095
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--------
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-------
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14,200
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8,096
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Creditors: amounts falling due within one year
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6
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(
10,471)
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(
6,779)
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--------
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-------
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Net current assets
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3,729
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1,317
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-------
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-------
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Total assets less current liabilities
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3,729
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1,317
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-------
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-------
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Net assets
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3,729
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1,317
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-------
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-------
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Capital and reserves
Called up share capital
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3
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3
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Profit and loss account
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3,726
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1,314
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|
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-------
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-------
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Shareholders funds
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3,729
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1,317
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-------
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-------
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 1 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
19 April 2018
, and are signed on behalf of the board by:
Company registration number:
03502745
NOTES TO THE FINANCIAL STATEMENTS
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YEAR ENDED 1 AUGUST 2017
1.
General information
The company is a private company limited by shares, registered in . The address of the registered office is 7 - 12 Tavistock Square, London, WC1H 9BQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 2 August 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Revenue recognition
Turnover represents income received during the year.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2016: Nil).
5.
Debtors
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2017
|
2016
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£
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£
|
Other debtors
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–
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1
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----
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----
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|
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6.
Creditors:
amounts falling due within one year
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2017
|
2016
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£
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£
|
Corporation tax
|
591
|
427
|
Social security and other taxes
|
460
|
–
|
Other creditors
|
9,420
|
6,352
|
|
--------
|
-------
|
|
10,471
|
6,779
|
|
--------
|
-------
|
|
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|
7.
Controlling party
The company is under the control of its shareholders.
8.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 2 August 2015.
No transitional adjustments were required in equity or profit or loss for the year.
YEAR ENDED 1 AUGUST 2017
The following pages do not form part of the financial statements.
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF
GLOBAL BRITAIN LIMITED
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YEAR ENDED 1 AUGUST 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Global Britain Limited for the year ended 1 August 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Global Britain Limited, as a body, in accordance with the terms of our engagement letter dated 6 April 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Global Britain Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Global Britain Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Global Britain Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Global Britain Limited. You consider that Global Britain Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Global Britain Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
BSG Valentine (UK) LLP
Chartered Accountants
Lynton House
7 - 12 Tavistock Square
London
WC1H 9BQ
19 April 2018