Global Connect Communications Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10111449 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2020

for

Global Connect Communications Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Singh

REGISTERED OFFICE:

12 Darley Abbey Mills

Darley Abbey

Derby

DE22 1DZ

REGISTERED NUMBER:

10111449 (England and Wales)

ACCOUNTANTS:

A Butler & Co

12 Darley Abbey Mills

Darley Abbey

Derby

Derbyshire

DE22 1DZ

FIXED ASSETS

Tangible assets

4

7,002

8,391

CURRENT ASSETS

Stocks

47,824

35,155

Debtors

103,588

82,145

Cash at bank

31,843

10,771

183,255

128,071

CREDITORS

Amounts falling due within one year

43,127

36,909

NET CURRENT ASSETS

140,128

91,162

TOTAL ASSETS LESS CURRENT LIABILITIES

147,130

99,553

CAPITAL AND RESERVES

Called up share capital

5

100

100

Retained earnings

147,030

99,453

SHAREHOLDERS' FUNDS

147,130

99,553

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 28 May 2021 and were signed by:

S Singh - Director

1.	STATUTORY INFORMATION

Global Connect Communications Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, 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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of net realisable value, after making due allowance for obsolete and slow moving items.

Government grants

Government grants are recognised under the accruals basis.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account.

Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Taxation

Taxation for the year comprises current 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 tax assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2019

12,755

Additions

944

At 30 April 2020

13,699

DEPRECIATION

At 1 May 2019

4,364

Charge for year

2,333

At 30 April 2020

6,697

NET BOOK VALUE

At 30 April 2020

7,002

At 30 April 2019

8,391

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.20

30.4.19

value:

£

£

100

Ordinary

£1

100

100

6.	RELATED PARTY DISCLOSURES

Global Connect Solutions Ltd

Global Connect Solutions Ltd is a company in which S Singh owns 50% of the issued ordinary share capital.

Amount due from the related party at the balance sheet date totalled £55,551 (2019: £45,551) and is disclosed within other debtors total within the balance sheet.

Buy To Let Services Ltd

Buy To Let Services Ltd is a company in which S Singh and H Sangha both own 50% each of the issued ordinary share capital.

Amount due from the related party at the balance sheet date totalled £20,538 (2019: £162) and is disclosed within other debtors total within the balance sheet.

Global Distribution 365 Ltd

Global Distribution 365 Ltd is a company in which H Sangha owns 50% each of the issued ordinary share capital.

Amount due from the related party at the balance sheet date totalled £7,500 and is disclosed within other debtors total within the balance sheet.