Global Web Limited - Accounts to registrar (filleted) - small 18.2
Global Web Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 May 2021 |
| for |
| Global Web Limited |
| Global Web Limited (Registered number: SC150925) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Global Web Limited |
| Company Information |
| for the Year Ended 31 May 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 53 Huntly Street |
| Aberdeen |
| AB10 1TH |
| Global Web Limited (Registered number: SC150925) |
| Balance Sheet |
| 31 May 2021 |
| 31.5.21 | 31.5.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Global Web Limited (Registered number: SC150925) |
| Balance Sheet - continued |
| 31 May 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Global Web Limited (Registered number: SC150925) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2021 |
| 1. | STATUTORY INFORMATION |
| Global Web Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Freehold property | - |
| Motor vehicles | - |
| Equipment | - |
| Investment property |
| The cost model has been applied depreciating the building over its estimated useful life at 2%/annum excluding the value of the Land. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Global Web Limited (Registered number: SC150925) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2021 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Motor |
| property | vehicles | Equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 June 2020 |
| Additions |
| At 31 May 2021 |
| DEPRECIATION |
| At 1 June 2020 |
| Charge for year |
| At 31 May 2021 |
| NET BOOK VALUE |
| At 31 May 2021 |
| At 31 May 2020 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST |
| At 1 June 2020 |
| and 31 May 2021 |
| DEPRECIATION |
| At 1 June 2020 | 58,047 |
| Charge for year | 4,940 |
| At 31 May 2021 | 62,987 |
| NET BOOK VALUE |
| At 31 May 2021 |
| At 31 May 2020 |
| Included in cost of investment property is freehold land of £ 50,000 (2020 - £ 50,000 ) which is not depreciated. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.21 | 31.5.20 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.21 | 31.5.20 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Global Web Limited (Registered number: SC150925) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2021 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.21 | 31.5.20 |
| £ | £ |
| Bank loans |
| Other creditors |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.5.21 | 31.5.20 |
| £ | £ |
| Bank loans |
| 10. | ULTIMATE CONTROLLING PARTY |
| The Directors control the company by virtue of their shareholdings. |