Global 600 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08259500 (England and Wales)

Financial Statements

for the Year Ended 31 May 2019

for

Global 600 Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C C Webb

REGISTERED OFFICE:

Global House

Saville Road

Peterborough

PE3 7PR

REGISTERED NUMBER:

08259500 (England and Wales)

AUDITORS:

Mudd Partners LLP

Statutory Auditors

Chartered Accountants

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

FIXED ASSETS

Tangible assets

4

16,550

7,329

Investment property

5

2,600,000

2,600,000

2,616,550

2,607,329

CURRENT ASSETS

Debtors

6

356,516

184,123

Cash at bank

20,760

49,278

377,276

233,401

CREDITORS

Amounts falling due within one year

7

189,409

1,361,884

NET CURRENT ASSETS/(LIABILITIES)

187,867

(1,128,483

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,804,417

1,478,846

CREDITORS

Amounts falling due after more than one year

8

(1,006,250

)

(1,063,750

)

PROVISIONS FOR LIABILITIES

(16,639

)

(13,001

)

NET ASSETS

1,781,528

402,095

CAPITAL AND RESERVES

Called up share capital

10

110

100

Fair value reserve

11

210,569

212,160

Retained earnings

1,570,849

189,835

SHAREHOLDERS' FUNDS

1,781,528

402,095

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28 February 2020 and were signed by:

C C Webb - Director

1.	STATUTORY INFORMATION

Global 600 Limited is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration receivable or received, excluding discounts, rebates, value added

tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

50% on cost and 20% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated

impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Any

revaluation gains or losses are recognised in other comprehensive income. Revaluations shall be made with sufficiently

regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value

at the end of the reporting period.

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at

each reporting date with changes in fair value recognised in profit or loss.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.

Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are

measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance

transaction it is measured at present value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that

it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit or loss in the period to which they relate.

Provisions

Provisions are recognised when the group has an obligation at the statement of financial position date as a result of a past

event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably

estimated.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are

recognised at the undiscounted amount expected to be paid in exchange for that service.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2018

202,816

Additions

17,924

Disposals

(2,020

)

At 31 May 2019

218,720

DEPRECIATION

At 1 June 2018

195,487

Charge for year

8,703

Eliminated on disposal

(2,020

)

At 31 May 2019

202,170

NET BOOK VALUE

At 31 May 2019

16,550

At 31 May 2018

7,329

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2018

and 31 May 2019

2,600,000

NET BOOK VALUE

At 31 May 2019

2,600,000

At 31 May 2018

2,600,000

The investment property was revalued in 2017. The director is of the opinion that there has not been a significant change in

value since that date.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade debtors

12,701

22,484

Other debtors

343,815

161,639

356,516

184,123

Included in other debtors are prepayments and accrued income of £14,019 (2018: £6,336).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Bank loans and overdrafts

57,500

57,500

Trade creditors

11,236

5,298

Amounts owed to group undertakings

-

1,199,455

Taxation and social security

7,944

24,561

Other creditors

112,729

75,070

189,409

1,361,884

Included in other creditors are accruals and deferred income of £16,743 (2018: £10,189).

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.19

31.5.18

£

£

Bank loans

1,006,250

1,063,750

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.19

31.5.18

£

£

Bank loans

1,063,750

1,121,250

Bank loan is secured by charge on investment properties.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.19

31.5.18

value:

£

£

100

Ordinary

£1

100

100

10

Ordinary B

£1

10

-

110

100

10 Ordinary B shares of £1 each were allotted and fully paid for cash at par during the year.

11.

RESERVES

Fair

value

reserve

£

At 1 June 2018

212,160

Transfers

(1,591

)

At 31 May 2019

210,569

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jeffrey Stanley FCA (Senior Statutory Auditor)

for and on behalf of Mudd Partners LLP

13.	PARENT UNDERTAKING

The company is wholly owned by CCW 600 Limited.

The registered office and business address of the parent undertaking is shared by the company.