Global Objectives Limited - Period Ending 2013-12-31

Registration number: 04098610

Global Objectives Limited

Report and Accounts
 
for the Year Ended 31 December 2013

Global Objectives Limited

Directors' Report for the Year Ended 31 December 2013

The directors present their report and accounts for the year ended 31 December 2013.

Directors

The directors who held office during the year were as follows:

H.E. Campbell

D.M. Mitchley

H.S. Shawkat (resigned 31 January 2013)

Approved by the Board on 16 September 2014 and signed on its behalf by:

.........................................
D.M. Mitchley
Director

Registered Office: 2nd Floor, Aldgate House, 33 Aldgate High Street, London, EC3N 1DL.

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Global Objectives Limited

(Registration number: 04098610)
Balance Sheet as at 31 December 2013

	Note	2013 £	2012 £
Current assets
Debtors: amounts falling due within one year	2	52,600,000	52,600,000
Total assets less current liabilities		52,600,000	52,600,000
Capital and reserves
Called up share capital	3	8,916,108	8,916,108
Capital contribution reserve	4	9,774,031	9,774,031
Profit and loss account		33,909,861	33,909,861
Total shareholders' funds		52,600,000	52,600,000

For the year ending 31 December 2013 the company was entitled to exemption under section 480 of the Companies Act 2006 relating to dormant companies.

Members have not required the Company to obtain an audit in accordance with section 476(2) of the Companies Act 2006.

The directors acknowledge their responsibilities for:(a) ensuring the Company keeps accounting records which comply with section 386; and(b) preparing accounts which give a true and fair view of the state of affairs of the Company as at the end of the financial year, and of its profit and loss for the financial year, in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the Company.

Approved by the Board on 16 September 2014 and signed on its behalf by:

.........................................
D.M. Mitchley
Director

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Global Objectives Limited

Notes to the Financial Statements

1

Accounting policies

Trading status

The Company has not traded during the year, has incurred no liabilities and, consequently, has made neither profit nor loss. None of the directors received any emoluments in respect of their services to the Company.

Basis of preparation

The accounts have been prepared under the historical cost convention in accordance with applicable UK accounting standards and on a basis consistent with the previous year.

2

Debtors

	2013 £	2012 £
Amounts owed by group undertakings	52,600,000	52,600,000

3

Share capital

Allotted, called up and fully paid shares

	2013		2012
	No.	£	No.	£
Ordinary shares of £1 each	8,916,108	8,916,108	8,916,108	8,916,108

4

Capital contribution / exceptional item

Capital contribution represents the fair value of equity settled share options that were expected to become exercisable in terms of the Global World-Check Group's equity settled scheme, relating to the employees and the sales agents of the Company over the vesting period. This is adjusted for the additional share option expense regonised annually over the vesting period.

All share options awarded relate to the shares in Global World-Check Holdings Ltd. The share option expense is recognised in the Company for the Company's employees and sales agents.

The share option scheme was terminated with the purchase of Global World-Check Holdings Ltd by Thomson Reuters and an exceptional expense of GBP 8,426,029 related to the equity-settled share based payments transaction which was recognised in 2011. These options were converted to cash-settled options upon payment.

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Global Objectives Limited

Notes to the Financial Statements

5

Control

The Company’s immediate parent company is Global World-Check. Within the meaning of the Companies Act 2006 (“CA2006”), Thomson Investments Limited (“TIL”) is regarded by the Directors of the Company as being the Company’s ultimate parent company and controlling party. Within the meaning of CA2006, Thomson Reuters Corporation (“Thomson Reuters”) is the parent undertaking of the only group of undertakings for which group financial statements were drawn up and of which the Company was a member for the year ended 31 December 2013. TIL and Thomson Reuters are incorporated under the laws of the Province of Ontario, Canada.

Copies of Thomson Reuters' annual reports are available from: The Thomson Reuters Building, South Colonnade, Canary Wharf, London E14 5EP, and online at www.thomsonreuters.com.

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