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Report of the Director and |
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Unaudited Financial Statements for the Year Ended 31 May 2017 |
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Global Development Company Ltd |
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REGISTERED NUMBER:
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Report of the Director and |
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Unaudited Financial Statements for the Year Ended 31 May 2017 |
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for |
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Global Development Company Ltd |
Global Development Company Ltd (Registered number: 04272517) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2017 |
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Company Information | 1 |
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Report of the Director | 2 |
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Statement of Comprehensive Income | 3 |
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Balance Sheet | 4 |
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Statement of Changes in Equity | 5 |
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Notes to the Financial Statements | 6 |
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Global Development Company Ltd |
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Company Information |
for the Year Ended 31 May 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Global Development Company Ltd (Registered number: 04272517) |
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Report of the Director |
for the Year Ended 31 May 2017 |
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The director presents his report with the financial statements of the company for the year ended 31 May 2017. |
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DIRECTOR |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to |
small companies. |
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ON BEHALF OF THE BOARD: |
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Global Development Company Ltd (Registered number: 04272517) |
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Statement of Comprehensive Income |
for the Year Ended 31 May 2017 |
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Year Ended | Period |
31.5.17 | 1.9.15 to 31.5.16 |
Notes | £ | £ | £ | £ |
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TURNOVER |
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Distribution costs |
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Administrative expenses |
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25,131 | 12,661 |
(25,131 | ) | 72,193 |
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Other operating income |
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OPERATING PROFIT |
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Interest receivable and similar income |
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PROFIT BEFORE TAXATION | 4 |
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Tax on profit | 5 |
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PROFIT FOR THE FINANCIAL YEAR |
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OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR |
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Global Development Company Ltd (Registered number: 04272517) |
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Balance Sheet |
31 May 2017 |
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31.5.17 | 31.5.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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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 | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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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The financial statements were approved by the director on
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Global Development Company Ltd (Registered number: 04272517) |
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Statement of Changes in Equity |
for the Year Ended 31 May 2017 |
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Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
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Balance at 1 September 2015 |
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Changes in equity |
Issue of share capital |
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Total comprehensive income | - |
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Balance at 31 May 2016 |
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Changes in equity |
Total comprehensive income | - |
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Balance at 31 May 2017 |
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Global Development Company Ltd (Registered number: 04272517) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2017 |
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1. | STATUTORY INFORMATION |
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Global Development Company Ltd 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 preparation |
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The company has taken advantage of the following disclosure exemptions in preparing these financial |
statements, as permitted by FRS 101 "Reduced Disclosure Framework": |
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• | the requirements of paragraphs 45(b) and 46 to 52 of IFRS 2 Share-based Payment; |
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the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii),
B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations; |
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the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held for Sale and Discontinued
Operations; |
• | the requirements of IFRS 7 Financial Instruments: Disclosures; |
• | the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement; |
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the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative
information in respect of: |
- | paragraph 79(a)(iv) of IAS 1; |
- | paragraph 73(e) of IAS 16 Property, Plant and Equipment; |
- | paragraph 118(e) of IAS 38 Intangible Assets; |
- | paragraphs 76 and 79(d) of IAS 40 Investment Property; and |
- | paragraph 50 of IAS 41 Agriculture; |
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the requirements of paragraphs 10(d), 10)(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D and 111 of
IAS 1 Presentation of Financial Statements; |
• | the requirements of paragraphs 134 to 136 of IAS 1 Presentation of Financial Statements; |
• | the requirements of IAS 7 Statement of Cash Flows; |
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the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates
and Errors; |
• | the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures; |
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the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into
between two or more members of a group; |
• | the requirements of paragraphs 134(d) to 134(f) and 135(c) to 135(e) of IAS 36 Impairments of Assets. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Taxation |
Current taxes are based on the results shown in the financial statements and are calculated according to local |
tax rules, using tax rates enacted or substantially enacted by the balance sheet date. |
Global Development Company Ltd (Registered number: 04272517) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2017 |
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3. | EMPLOYEES AND DIRECTORS |
Period |
1.9.15 |
Year Ended | to |
31.5.17 | 31.5.16 |
£ | £ |
Wages and salaries | 10,368 | 6,057 |
Social security costs |
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The average monthly number of employees during the year was as follows: |
Period |
1.9.15 |
Year Ended | to |
31.5.17 | 31.5.16 |
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Director | 1 | 1 |
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Period |
1.9.15 |
Year Ended | to |
31.5.17 | 31.5.16 |
£ | £ |
Director's remuneration |
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4. | PROFIT BEFORE TAXATION |
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The profit before taxation is stated after charging/(crediting): |
Period |
1.9.15 |
Year Ended | to |
31.5.17 | 31.5.16 |
£ | £ |
Depreciation - owned assets |
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Loss on disposal of fixed assets |
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Foreign exchange differences | ( |
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5. | TAXATION |
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Analysis of tax expense |
Period |
1.9.15 |
Year Ended | to |
31.5.17 | 31.5.16 |
£ | £ |
Current tax: |
Tax |
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Total tax expense in statement of comprehensive income |
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Global Development Company Ltd (Registered number: 04272517) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2017 |
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6. | TANGIBLE FIXED ASSETS |
Freehold | Computer |
property | equipment | Totals |
£ | £ | £ |
COST |
At 1 June 2016 |
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Disposals | ( |
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At 31 May 2017 |
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DEPRECIATION |
At 1 June 2016 |
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Charge for year |
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At 31 May 2017 |
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NET BOOK VALUE |
At 31 May 2017 |
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At 31 May 2016 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.17 | 31.5.16 |
£ | £ |
Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.17 | 31.5.16 |
£ | £ |
Trade creditors |
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Tax |
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Directors' current accounts | - | 2 |
Accrued expenses |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.17 | 31.5.16 |
value: | £ | £ |
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Ordinary | 1 | 2 | 2 |
Global Development Company Ltd (Registered number: 04272517) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2017 |
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11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the year ended 31 May 2017 and the period |
ended 31 May 2016: |
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31.5.17 | 31.5.16 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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The total amount of £88578 will be repaid within 9 months |