Global Communications Centre Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05124043 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2018

FOR

GLOBAL COMMUNICATIONS CENTRE LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr. M A Osman

REGISTERED OFFICE:

59d St Stephens Road

Leicester

Leicestershire

LE2 1GH

REGISTERED NUMBER:

05124043 (England and Wales)

ACCOUNTANTS:

Watergates Ltd

109 Coleman Road

Leicester

LE5 4LE

FIXED ASSETS

Tangible assets

4

3,887

681

CURRENT ASSETS

Stocks

3,172

3,980

Cash at bank and in hand

3,832

9,655

7,004

13,635

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5

(2,219

)

(3,066

)

NET CURRENT ASSETS

4,785

10,569

TOTAL ASSETS LESS CURRENT LIABILITIES

8,672

11,250

CAPITAL AND RESERVES

Called up share capital

6

1

1

Retained earnings

8,671

11,249

SHAREHOLDERS' FUNDS

8,672

11,250

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2018.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st May 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 26th October 2018 and were signed by:

Mr. M A Osman - Director

1.	STATUTORY INFORMATION

Global Communications Centre 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

The turnover shown in the profit and loss account represents amounts invoiced during the year.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of

work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term

contracts and contracts for on-going services is recognised by reference to the stage of completion.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Equipment

-

25% on reducing balance

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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 statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

Equipment

Totals

£

£

£

COST

At 1st June 2017

-

3,507

3,507

Additions

4,501

-

4,501

At 31st May 2018

4,501

3,507

8,008

DEPRECIATION

At 1st June 2017

-

2,826

2,826

Charge for year

1,125

170

1,295

At 31st May 2018

1,125

2,996

4,121

NET BOOK VALUE

At 31st May 2018

3,376

511

3,887

At 31st May 2017

-

681

681

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/18

31/5/17

£

£

Trade creditors

-

640

Taxation and social security

682

438

Other creditors

1,537

1,988

2,219

3,066

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/5/18

31/5/17

value:

£

£

1

Ordinary

£1

1

1

7.	RELATED PARTY TRANSACTIONS

The company was under the control of Mr Mohamed Abdi Osman throughout the current period. Mr

Mohamed Abdi Osman is the managing director and majority shareholder.

No transactions with related parties were undertaken such as are required to be disclosed under

FRSSE.