Globexair Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08250167 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2017

for

Globexair Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Wade

P J Wigmore

SECRETARY:

REGISTERED OFFICE:

3 Skyport Industrial Estate

Skyport Drive

West Drayton

Middlesex

UB7 0LB

REGISTERED NUMBER:

08250167 (England and Wales)

ACCOUNTANTS:

Alexander Michael

5-7 High Street

Sunninghill

Berkshire

England

SL5 9NQ

FIXED ASSETS

Tangible assets

4

98,530

48,574

CURRENT ASSETS

Debtors

5

748,661

282,643

Cash at bank and in hand

484,105

203,340

1,232,766

485,983

CREDITORS

Amounts falling due within one year

6

597,347

269,515

NET CURRENT ASSETS

635,419

216,468

TOTAL ASSETS LESS CURRENT LIABILITIES

733,949

265,042

CREDITORS

Amounts falling due after more than one year

7

(1,079

)

(4,317

)

PROVISIONS FOR LIABILITIES

(18,721

)

(9,715

)

NET ASSETS

714,149

251,010

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

713,949

250,810

SHAREHOLDERS' FUNDS

714,149

251,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 6 April 2018 and were signed on its behalf by:

P J Wigmore - Director

1.	STATUTORY INFORMATION

Globexair 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 reducing balance and 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

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 26 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2016

77,473

Additions

78,033

At 31 October 2017

155,506

DEPRECIATION

At 1 November 2016

28,899

Charge for year

28,077

At 31 October 2017

56,976

NET BOOK VALUE

At 31 October 2017

98,530

At 31 October 2016

48,574

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Trade debtors

694,772

242,838

Other debtors

53,889

39,805

748,661

282,643

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Hire purchase contracts

3,237

3,237

Trade creditors

294,401

136,018

Taxation and social security

194,458

103,424

Other creditors

105,251

26,836

597,347

269,515

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.17

31.10.16

£

£

Hire purchase contracts

1,079

4,317

8.	RELATED PARTY DISCLOSURES