Global Information Highway Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03145845 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2020

FOR

GLOBAL INFORMATION HIGHWAY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

6

DIRECTOR:

O M J Crepin-Leblond

REGISTERED OFFICE:

39 Etchingham Park Road

Finchley

London

N3 2DU

REGISTERED NUMBER:

03145845 (England and Wales)

ACCOUNTANTS:

Robert A. Price F. C. C. A.

39 Etchingham Park Road

Finchley

London

N3 2DU

FIXED ASSETS

Tangible assets

4

166

333

CURRENT ASSETS

Stocks

800

3,600

Debtors

5

4,189

1,887

Cash at bank

30,127

30,558

35,116

36,045

CREDITORS

Amounts falling due within one year

6

497,686

429,272

NET CURRENT LIABILITIES

(462,570

)

(393,227

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(462,404

)

(392,894

)

CREDITORS

Amounts falling due after more than one year

7

80,000

80,000

NET LIABILITIES

(542,404

)

(472,894

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(542,405

)

(472,895

)

SHAREHOLDERS' FUNDS

(542,404

)

(472,894

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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 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 director and authorised for issue on 13 April 2021 and were signed by:

O M J Crepin-Leblond - Director

1.	STATUTORY INFORMATION

Global Information Highway 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.

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

-

33% on cost

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2019

and 31 May 2020

8,573

DEPRECIATION

At 1 June 2019

8,240

Charge for year

167

At 31 May 2020

8,407

NET BOOK VALUE

At 31 May 2020

166

At 31 May 2019

333

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

-

550

Other debtors

4,189

1,337

4,189

1,887

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

1,703

124

Taxation and social security

1,990

1,916

Other creditors

493,993

427,232

497,686

429,272

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

80,000

80,000

8.	FOREIGN BRANCHES

During the course of the year the company also operated through a Swiss branch.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2020 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Robert A. Price F. C. C. A.

39 Etchingham Park Road

Finchley

London

N3 2DU

Date: .............................................