Global Networks Group Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09577102 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2022

for

GLOBAL NETWORKS GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Bishop

A S Trott

REGISTERED OFFICE:

20 Clarke Road

Bletchley

Milton Keynes

MK1 1LG

REGISTERED NUMBER:

09577102 (England and Wales)

ACCOUNTANTS:

TC SEM Limited

Baird House

Seebeck Place

Knowlhill

Milton Keynes

Buckinghamshire

MK5 8FR

FIXED ASSETS

Investments

4

282,955

280,403

CURRENT ASSETS

Debtors

5

175,952

122,382

Cash at bank

600

778

176,552

123,160

CREDITORS

Amounts falling due within one year

6

300,100

65,500

NET CURRENT (LIABILITIES)/ASSETS

(123,548

)

57,660

TOTAL ASSETS LESS CURRENT LIABILITIES

159,407

338,063

CREDITORS

Amounts falling due after more than one year

7

158,644

337,950

NET ASSETS

763

113

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

663

13

SHAREHOLDERS' FUNDS

763

113

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 18 September 2023 and were signed on its behalf by:

A J Bishop - Director

1.	STATUTORY INFORMATION

Global Networks Group 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.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2022

280,403

Additions

2,552

At 31 December 2022

282,955

NET BOOK VALUE

At 31 December 2022

282,955

At 31 December 2021

280,403

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed by group undertakings

175,950

122,307

VAT

2

75

175,952

122,382

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other creditors

-

12,500

Dividends payable

150,000

-

Directors' current accounts

149,000

52,000

Accrued expenses

1,100

1,000

300,100

65,500

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Directors' loan accounts

158,644

337,950

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100

9.	ULTIMATE CONTROLLING PARTY

The company is under the control of directors who own 100% of the share capital.