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Report of the Director and |
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Unaudited Financial Statements for the Year Ended 31 May 2019 |
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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 2019 |
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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 2019 |
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Page |
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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 2019 |
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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 2019 |
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The director presents his report with the financial statements of the company for the year ended 31 May 2019. |
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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 2019 |
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31.5.19 | 31.5.18 |
Notes | £ | £ |
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TURNOVER |
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Administrative expenses |
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(11,873 | ) | (12,402 | ) |
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Other operating income |
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OPERATING LOSS and |
LOSS BEFORE TAXATION | 4 | ( |
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Tax on loss | 5 |
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LOSS FOR THE FINANCIAL YEAR | ( |
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OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR |
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( |
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Global Development Company Ltd (Registered number: 04272517) |
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Balance Sheet |
31 May 2019 |
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31.5.19 | 31.5.18 |
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 | 10 |
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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 2019 |
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Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
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Balance at 1 June 2017 |
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Changes in equity |
Total comprehensive income | - | ( |
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Balance at 31 May 2018 |
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Changes in equity |
Total comprehensive income | - | ( |
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Balance at 31 May 2019 |
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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 2019 |
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1. | STATUTORY INFORMATION |
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Global Development Company Ltd is a
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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; |
• | 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 requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c),
120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers; |
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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 2019 |
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3. | EMPLOYEES AND DIRECTORS |
31.5.19 | 31.5.18 |
£ | £ |
Wages and salaries | 8,392 | 8,216 |
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The average number of employees during the year was as follows: |
31.5.19 | 31.5.18 |
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Director | 1 | 1 |
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31.5.19 | 31.5.18 |
£ | £ |
Director's remuneration |
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4. | LOSS BEFORE TAXATION |
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The loss before taxation is stated after charging/(crediting): |
31.5.19 | 31.5.18 |
£ | £ |
Depreciation - owned assets |
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Foreign exchange differences | ( |
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5. | TAXATION |
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Analysis of tax expense |
No liability to UK corporation tax arose for the year ended 31 May 2019 nor for the year ended 31 May 2018. |
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6. | TANGIBLE FIXED ASSETS |
Freehold | Computer |
property | equipment | Totals |
£ | £ | £ |
COST |
At 1 June 2018 |
and 31 May 2019 |
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DEPRECIATION |
At 1 June 2018 |
and 31 May 2019 |
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NET BOOK VALUE |
At 31 May 2019 |
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At 31 May 2018 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.19 | 31.5.18 |
£ | £ |
Other debtors |
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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 2019 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.19 | 31.5.18 |
£ | £ |
Bank loans and overdrafts (see note 9) |
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Tax |
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Social security and other taxes |
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Accrued expenses |
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9. | FINANCIAL LIABILITIES - BORROWINGS |
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31.5.19 | 31.5.18 |
£ | £ |
Current: |
Bank overdrafts |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.19 | 31.5.18 |
value: | £ | £ |
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Ordinary | 1 | 2 | 2 |
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12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 May 2019 and 31 May 2018: |
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31.5.19 | 31.5.18 |
£ | £ |
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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 £155932.01 is to be repaid by 31 January 2020 |