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 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

GLOBAL AUTO SALVAGE LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

GLOBAL AUTO SALVAGE LIMITED

Balance sheet

As at 31 December 2023


Notes
2023
2022


£
£
Fixed assets
Tangible assets: 3 123,609 151,766
Total fixed assets: 123,609 151,766
Current assets
Stocks: 45,551 35,551
Debtors:   1,269,832 1,040,485
Cash at bank and in hand: 501,355 477,065
Total current assets: 1,816,738 1,553,101
Creditors: amounts falling due within one year:   (149,125) (157,402)
Net current assets (liabilities): 1,667,613 1,395,699
Total assets less current liabilities: 1,791,222 1,547,465
Total net assets (liabilities): 1,791,222 1,547,465
Capital and reserves
Called up share capital: 6 6
Profit and loss account: 1,791,216 1,547,459
Shareholders funds: 1,791,222 1,547,465

The notes form part of these financial statements

GLOBAL AUTO SALVAGE LIMITED

Balance sheet statements

For the year ending 31 December 2023 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 01 March 2024
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 2023

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 2023

2. Employees

2023 2022
Average number of employees during the period 9 9

GLOBAL AUTO SALVAGE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 312,099
Additions 2,746
At 31 December 2023 314,845
Depreciation
At 01 January 2023 160,333
Charge for year 30,903
At 31 December 2023 191,236
Net book value
At 31 December 2023 123,609
At 31 December 2022 151,766

GLOBAL AUTO SALVAGE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Related party transactions

Name of the related party: Global Residentials LTD
Relationship:
875652
Description of the Transaction: Loan
£
Balance at 01 January 2023 875,652
Balance at 31 December 2023 875,652
Name of the related party: Goldenwheel Auto Centre LTD
Relationship:
Related 3rd party
Description of the Transaction: Loan
£
Balance at 01 January 2023 5,300
Balance at 31 December 2023 5,300

There is no controlling interest as Mr T Moussa and Mr A Topalovic, both, togather with theirpartners hold equal shares of the issued share capital of the company. Mr T Moussa and Mr ATopalovic both, are the managing directors of the company.At the yearend, the company was owed £875,652 from Global Residentails Ltd, a companyregistered in England and Wales. Mr T Moussa and Mr A Topalovic, both, together with theirpartners hold 100% shares of the issued share capital of the Global Residentails Ltd.At the yearend, the company was owed £5,300 from Goldenwheel Auto Centre Ltd, a companyregistered in England and Wales. Mr T Moussa brother Mr M Moussa hold 100% shares of theissued share capital of the Goldenwheel Auto Centre Ltd.