GLOBAL AUTO SALVAGE LIMITED

GLOBAL AUTO SALVAGE LIMITED

GLOBAL AUTO SALVAGE LIMITED - Company Information

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GLOBAL AUTO SALVAGE LIMITED

Company Registration Number:
07867013 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2021

Period of accounts

Start date: 01 January 2021

End date: 31 December 2021

GLOBAL AUTO SALVAGE LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2021

Balance sheet
Notes

GLOBAL AUTO SALVAGE LIMITED

Balance sheet

As at 31 December 2021


Notes
2021
2020


£
£
Fixed assets
Tangible assets: 3 119,292 78,493
Total fixed assets: 119,292 78,493
Current assets
Stocks: 22,536 13,855
Debtors:   426,447 380,864
Cash at bank and in hand: 739,260 587,912
Total current assets: 1,188,243 982,631
Creditors: amounts falling due within one year:   (157,084) (201,283)
Net current assets (liabilities): 1,031,159 781,348
Total assets less current liabilities: 1,150,451 859,841
Creditors: amounts falling due after more than one year:     (5,000)
Total net assets (liabilities): 1,150,451 854,841
Capital and reserves
Called up share capital: 6 6
Profit and loss account: 1,150,445 854,835
Shareholders funds: 1,150,451 854,841

The notes form part of these financial statements

GLOBAL AUTO SALVAGE LIMITED

Balance sheet statements

For the year ending 31 December 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 04 March 2022
and signed on behalf of the board by:

Name: Mr A Topalovic
Status: Director

The notes form part of these financial statements

GLOBAL AUTO SALVAGE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

GLOBAL AUTO SALVAGE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

2. Employees

2021 2020
Average number of employees during the period 9 10

GLOBAL AUTO SALVAGE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

3. Tangible Assets

Total
Cost £
At 01 January 2021 171,061
Additions 70,622
At 31 December 2021 241,683
Depreciation
At 01 January 2021 92,568
Charge for year 29,823
At 31 December 2021 122,391
Net book value
At 31 December 2021 119,292
At 31 December 2020 78,493

GLOBAL AUTO SALVAGE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

4. Related party transactions

Name of the related party: Global Residentails Ltd
Relationship:
Common Shareholders
Description of the Transaction: At the yearend, the company was owed £335,652 from Global Residentails Ltd, a company registered in England and Wales. Mr T Moussa and Mr A Topalovic, both, together with their partners hold 100% shares of the issued share capital of the Global Residentails Ltd.
£
Balance at 01 January 2021 335,652
Balance at 31 December 2021 335,652
Name of the related party: Goldenwheel Auto Centre Ltd
Relationship:
Related Shareholders
Description of the Transaction: At the yearend, the company was owed £5,300 from Goldenwheel Auto Centre Ltd, a company registered in England and Wales. Mr T Moussa brother Mr M Moussa hold 100% shares of the issued share capital of the Goldenwheel Auto Centre Ltd.
£
Balance at 01 January 2021 5,300
Balance at 31 December 2021 5,300