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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2017 |
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GLOBAL DOMESTIC APPLIANCES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2017 |
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FOR |
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GLOBAL DOMESTIC APPLIANCES LIMITED |
GLOBAL DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 03895496) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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GLOBAL DOMESTIC APPLIANCES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
First Floor, Winston House |
349 Regents Park Road |
London |
N3 1DH |
GLOBAL DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 03895496) |
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BALANCE SHEET |
30 APRIL 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Profit and loss account | ( |
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GLOBAL DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 03895496) |
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BALANCE SHEET - continued |
30 APRIL 2017 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered. |
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The financial statements were approved by the Board of Directors on
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GLOBAL DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 03895496) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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1. | STATUTORY INFORMATION |
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Global Domestic Appliances Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Goodwill |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
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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 impairment is found, an impairment loss is recognised in profit |
or loss. |
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Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise |
the asset or settle the liability simultaneously. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, except to the |
extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
GLOBAL DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 03895496) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company costs charged in the financial statements represents personal pension contribution made |
on behalf of the company's employees together with the company's obligations under Workplace Pension Reform |
following the staging date which arose during the year. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 May 2016 |
and 30 April 2017 |
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AMORTISATION |
At 1 May 2016 |
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Charge for year |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 May 2016 |
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Additions |
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Disposals | ( |
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At 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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GLOBAL DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 03895496) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Other creditors | 213,810 | 213,810 |
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The company's other director, Mrs M Reeves, has made an interest free loan to the company. There is no |
stipulation as to repayment of the loan. The loan is secured by a fixed and floating charge over the assets of the |
company. |
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9. | RELATED PARTY DISCLOSURES |
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Two of this company's directors, Mr M Reeves and Mr C Reeves, are directors in the companies Global Repairs |
Limited and Reeva Design Limited. |
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The company trades with both of these companies at trade prices. Trading during the year was as follows: |
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Sales to Global Repairs Limited - £184,925 (2016 - £91,045) |
Sales to Reeva Design Limited - £22,172 (2016 - £21,748) |
Purchases from Global Repairs Limited - £9,059 (2016 - £7,312) |
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The above amounts are all net of VAT. |
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At balance sheet date the following amounts (including VAT) were owed in respect of the above: |
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Owed by Global Repairs Limited - £13,416 (2016 - £77,922) |
Owed to Global Repairs Limited - £2,881 (2016 - £Nil) |
Owed by Reeva Design Limited - £19,374 (2016 - £8,118) |
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In addition the company shares premises and provides support for Global Repairs Limited. For the use of its |
premises and as a contribution towards expenses incurred on the company's behalf, the company has received a |
management fee of £24,000 (2016 - £24,000) |
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The company has made an interest free loan to Reeva Design Limited and the amount outstanding at balance |
sheet date was £8,005 (2016 - £11,522). |
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The company's other director, Mrs M Reeves, has made an interest free loan to the company of £213,810 (2016 - |
£213,810). There is no stipulation as to repayment of the loan. The loan is secured by a fixed and floating |
charge over the assets of the company. |
GLOBAL DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 03895496) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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10. | FIRST YEAR ADOPTION |
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There were no significant changes for the company as a result of the transition to FRS 102 Section 1A. |
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