Company Registration No. 08714900 (England and Wales)
GLOBAL COMPANY MANAGEMENT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2019
PAGES FOR FILING WITH REGISTRAR
26-32 Oxford Road
Bournemouth
United Kingdom
BH8 8EZ
GLOBAL COMPANY MANAGEMENT LTD
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
GLOBAL COMPANY MANAGEMENT LTD
COMPANY INFORMATION
- 1 -
Director
Mr. P May
Company number
08714900
Registered office
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
United Kingdom
PO6 3TH
Accountants
TC Group
26-32 Oxford Road
Bournemouth
Dorset
United Kingdom
BH8 8EZ
GLOBAL COMPANY MANAGEMENT LTD
BALANCE SHEET
AS AT 30 SEPTEMBER 2019
30 September 2019
- 2 -
2019
2018
Notes
£
£
£
£
Fixed assets
Investments
2
1
1
Current assets
Debtors
3
569
582
Cash at bank and in hand
-
57
569
639
Creditors: amounts falling due within one year
4
(88)
(88)
Net current assets
481
551
Total assets less current liabilities
482
552
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
382
452
Total equity
482
552
GLOBAL COMPANY MANAGEMENT LTD
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2019
30 September 2019
- 3 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 29 September 2020
Mr. P May
Director
Company Registration No. 08714900
The notes on pages 4 to 6 form part of these financial statements
GLOBAL COMPANY MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 4 -
1
Accounting policies
Company information
Global Company Management Ltd
(08714900)
is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
3 Acorn Business Centre, Northarbour Road, Cosham, Portsmouth, Hampshire, United Kingdom, PO6 3TH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest
pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the parent qualifies as a small group
. The financial statements present information about the company as an individual entity and not about its group
.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.3
Cash at bank and in hand
Cash at bank and in hand
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 current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
GLOBAL COMPANY MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
1
Accounting policies
(Continued)
- 5 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Fixed asset investments
2019
2018
£
£
Investments
1
1
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 October 2018 & 30 September 2019
1
Carrying amount
At 30 September 2019
1
At 30 September 2018
1
GLOBAL COMPANY MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 6 -
3
Debtors
2019
2018
Amounts falling due within one year:
£
£
Unpaid share capital
100
100
Other debtors
469
482
569
582
4
Creditors: amounts falling due within one year
2019
2018
£
£
Taxation and social security
88
88
5
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and not fully paid
100 Ordinary share of £1 each
100
100