Global Data Management UK Limited - Period Ending 2017-01-31

GLOBAL DATA MANAGEMENT UK LIMITED - Company Information

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Registration number: 04272539

Global Data Management UK Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2017

Smart Accountancy Systems Limited
Association Chartered Certified Accountants
Unit 2 Dominion Centre
Elliott Road
Bournemouth
Dorset
BH11 8JR

Global Data Management UK Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Financial Statements	5 to 7

Global Data Management UK Limited

Company Information

Directors

Mr Dominic Yeadon

Clive Groom

David Pengilly

Company secretary

Mrs Andrea Yeadon

Registered office

Suite 10 Branksome Park House Branksome Business Park
Bourne Valley Road
Poole
Dorset
BH12 1ED

Accountants

Smart Accountancy Systems Limited
Association Chartered Certified Accountants
Unit 2 Dominion Centre
Elliott Road
Bournemouth
Dorset
BH11 8JR

Page 1

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Global Data Management UK Limited
for the Year Ended 31 January 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Global Data Management UK Limited for the year ended 31 January 2017 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.

This report is made solely to the Board of Directors of Global Data Management UK Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Global Data Management UK Limited and state those matters that we have agreed to state to the Board of Directors of Global Data Management UK Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Global Data Management UK Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Global Data Management UK Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Global Data Management UK Limited. You consider that Global Data Management UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Global Data Management UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Smart Accountancy Systems Limited
Association Chartered Certified Accountants
Unit 2 Dominion Centre
Elliott Road
Bournemouth
Dorset
BH11 8JR

23 August 2017

Page 2

Global Data Management UK Limited

(Registration number: 04272539)
Balance Sheet as at 31 January 2017

	Note	2017 £	2016 £
Fixed assets
Intangible assets	2	246,317	124,516
Tangible assets	3	11,203	8,318
		257,520	132,834
Current assets
Debtors	4	171,345	255,016
Cash at bank and in hand		16,070	32,007
		187,415	287,023
Creditors: Amounts falling due within one year	5	(431,560)	(412,787)
Net current liabilities		(244,145)	(125,764)
Total assets less current liabilities		13,375	7,070
Provisions for liabilities		-	(1,032)
Net assets		13,375	6,038
Capital and reserves
Called up share capital		300	225
Profit and loss account		13,075	5,813
Total equity		13,375	6,038

For the financial year ending 31 January 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 5 to 7 form an integral part of these financial statements.

Page 3

Global Data Management UK Limited

(Registration number: 04272539)
Balance Sheet as at 31 January 2017

Approved and authorised by the Board on 23 August 2017 and signed on its behalf by:

.........................................

Mr Dominic Yeadon

Director

The notes on pages 5 to 7 form an integral part of these financial statements.

Page 4

Global Data Management UK Limited

Notes to the Financial Statements for the Year Ended 31 January 2017

1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer Equipment	33% on reducing balance
Furniture & Fittings	33% on reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Intangibles	10% on straight line

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Page 5

Global Data Management UK Limited

Notes to the Financial Statements for the Year Ended 31 January 2017

2	Intangible assets

	Internally generated software development costs £	Total £
Cost or valuation
At 1 February 2016	140,292	140,292
Additions acquired separately	135,077	135,077
At 31 January 2017	275,369	275,369
Amortisation
At 1 February 2016	15,776	15,776
Amortisation charge	13,276	13,276
At 31 January 2017	29,052	29,052
Carrying amount
At 31 January 2017	246,317	246,317
At 31 January 2016	124,516	124,516

3	Tangible assets

	Furniture, fittings and equipment £	Total £
Cost or valuation
At 1 February 2016	51,618	51,618
Additions	7,090	7,090
At 31 January 2017	58,708	58,708
Depreciation
At 1 February 2016	43,300	43,300
Charge for the year	4,205	4,205
At 31 January 2017	47,505	47,505
Carrying amount
At 31 January 2017	11,203	11,203
At 31 January 2016	8,318	8,318

Page 6

Global Data Management UK Limited

Notes to the Financial Statements for the Year Ended 31 January 2017

Debtors

	2017 £	2016 £
Trade debtors	86,848	165,283
Other debtors	84,497	89,733
Total current trade and other debtors	171,345	255,016

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		6,081	16,489
Taxation and social security		64,790	53,220
Other creditors		360,689	343,078
		431,560	412,787

6	Related party transactions

Transactions with directors

2017	At 1 February 2016 £	Advances to directors £	Repayments by director £	At 31 January 2017 £
Mr Dominic Yeadon
The loan is unsecured and interest free.	61,727	16,500	(16,500)	61,727

2016	At 1 February 2015 £	Advances to directors £	Repayments by director £	At 31 January 2016 £
Mr Dominic Yeadon
The loan is unsecured and interest free.	54,787	10,473	(3,533)	61,727

Directors' remuneration

The directors' remuneration for the year was as follows:

	2017 £	2016 £
Remuneration	81,000	47,053

Page 7