Company Registration No. 10468785 (England and Wales)
GLOBALIST PARTNERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2020
PAGES FOR FILING WITH REGISTRAR
GLOBALIST PARTNERS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
GLOBALIST PARTNERS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2020
31 December 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Investments
3
1,004,279
975,602
Current assets
Debtors
4
1
1
Creditors: amounts falling due within one year
5
(1,006,731)
(975,632)
Net current liabilities
(1,006,730)
(975,631)
Total assets less current liabilities
(2,451)
(29)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(2,452)
(30)
Total equity
(2,451)
(29)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements. true

For the financial period ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 .

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 16 July 2021
Mr M Bellamy
Director
Company Registration No. 10468785
GLOBALIST PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2020
- 2 -
1
Accounting policies
Company information

Globalist Partners Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor, Northumberland House, 303-306 High Holborn, London, WC1V 7JZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements , t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Reporting period

The director has chosen a period end of 31 December in line with other group companies hence the longer accounting period.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company . Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities .

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

GLOBALIST PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2020
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2020
2019
Number
Number
Total
-
0
-
0
GLOBALIST PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2020
- 4 -
3
Fixed asset investments
2020
2019
£
£
Shares in group undertakings and participating interests
1,004,279
975,602
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 December 2019
975,602
Valuation changes
28,677
At 31 December 2020
1,004,279
Carrying amount
At 31 December 2020
1,004,279
At 30 November 2019
975,602
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Other debtors
1
1
5
Creditors: amounts falling due within one year
2020
2019
£
£
Other creditors
1,006,731
975,632
2020-12-31 2019-12-01 false 16 July 2021 CCH Software CCH Accounts Production 2021.100 No description of principal activity Mr M Bellamy 10468785 2019-12-01 2020-12-31 10468785 2020-12-31 10468785 2019-11-30 10468785 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 10468785 core:CurrentFinancialInstruments core:WithinOneYear 2019-11-30 10468785 core:ShareCapital 2020-12-31 10468785 core:ShareCapital 2019-11-30 10468785 core:RetainedEarningsAccumulatedLosses 2020-12-31 10468785 core:RetainedEarningsAccumulatedLosses 2019-11-30 10468785 bus:Director1 2019-12-01 2020-12-31 10468785 2018-12-01 2019-11-30 10468785 core:WithinOneYear 2020-12-31 10468785 core:WithinOneYear 2019-11-30 10468785 core:CurrentFinancialInstruments 2020-12-31 10468785 core:CurrentFinancialInstruments 2019-11-30 10468785 bus:PrivateLimitedCompanyLtd 2019-12-01 2020-12-31 10468785 bus:SmallCompaniesRegimeForAccounts 2019-12-01 2020-12-31 10468785 bus:FRS102 2019-12-01 2020-12-31 10468785 bus:AuditExemptWithAccountantsReport 2019-12-01 2020-12-31 10468785 bus:FullAccounts 2019-12-01 2020-12-31 xbrli:pure xbrli:shares iso4217:GBP