Global Distribution Services Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 10019106 (England and Wales)

Financial Statements For The Year Ended 31st December 2022

for

Global Distribution Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J G Payne

P C Goddard

REGISTERED OFFICE:

63 High Street

Chislehurst

London

BR7 5BE

REGISTERED NUMBER:

10019106 (England and Wales)

ACCOUNTANTS:

Baker Britt

Chartered Accountants

63 High Street

Chislehurst

Kent

BR7 5BE

FIXED ASSETS

Tangible assets

4

118,104

64,233

CURRENT ASSETS

Debtors

5

87,637

33,300

Cash at bank

27,500

20,227

115,137

53,527

CREDITORS

Amounts falling due within one year

6

88,824

34,634

NET CURRENT ASSETS

26,313

18,893

TOTAL ASSETS LESS CURRENT LIABILITIES

144,417

83,126

CREDITORS

Amounts falling due after more than one year

7

(9,169

)

(30,741

)

PROVISIONS FOR LIABILITIES

(24,409

)

(12,204

)

NET ASSETS

110,839

40,181

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

110,739

40,081

SHAREHOLDERS' FUNDS

110,839

40,181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 9th March 2023 and were signed on its behalf by:

J G Payne - Director

1.	STATUTORY INFORMATION

Global Distribution Services 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 etc

-

25% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2022

91,644

Additions

102,376

At 31st December 2022

194,020

DEPRECIATION

At 1st January 2022

27,411

Charge for year

48,505

At 31st December 2022

75,916

NET BOOK VALUE

At 31st December 2022

118,104

At 31st December 2021

64,233

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

87,637

33,300

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Finance leases

21,572

20,959

Taxation and social security

20,314

1,558

Other creditors

46,938

12,117

88,824

34,634

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Finance leases

9,169

30,741