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REGISTERED NUMBER: 03659422 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

GLOBAL FOOTBALL COMPANY LIMITED

GLOBAL FOOTBALL COMPANY LIMITED (REGISTERED NUMBER: 03659422)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Balance Sheet 1

Notes to the Financial Statements 3


GLOBAL FOOTBALL COMPANY LIMITED (REGISTERED NUMBER: 03659422)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 178,092 84,763

CURRENT ASSETS
Stocks 1,838,886 1,541,517
Debtors 5 244,077 485,145
Cash at bank and in hand 4,413,378 5,299,149
6,496,341 7,325,811
CREDITORS
Amounts falling due within one year 6 1,234,295 2,209,342
NET CURRENT ASSETS 5,262,046 5,116,469
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,440,138

5,201,232

CREDITORS
Amounts falling due after more than one year 7 (92,099 ) -

PROVISIONS FOR LIABILITIES (10,128 ) (16,105 )
NET ASSETS 5,337,911 5,185,127

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5,337,811 5,185,027
SHAREHOLDERS' FUNDS 5,337,911 5,185,127

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

GLOBAL FOOTBALL COMPANY LIMITED (REGISTERED NUMBER: 03659422)

BALANCE SHEET - continued
31 DECEMBER 2021


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 September 2022 and were signed by:





J M Fallows - Director


GLOBAL FOOTBALL COMPANY LIMITED (REGISTERED NUMBER: 03659422)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Global Football Company Limited is a private company, limited by shares in England and Wales. The company's registered number is 03659422 and the registered office address is 5 Brooklands Place, Brooklands Road, Sale, Cheshire, M33 3SD.

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 represents net invoiced sales of goods, excluding value added tax, and is recognised when goods are despatched to customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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 Profit and Loss Account, 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.

Cash flow statement
In the opinion of the directors the company qualifies as a small company and accordingly a cash flow statement is not required.


GLOBAL FOOTBALL COMPANY LIMITED (REGISTERED NUMBER: 03659422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2020 - 26 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2021 89,252 5,495 128,102 222,849
Additions 10,430 132,751 5,937 149,118
At 31 December 2021 99,682 138,246 134,039 371,967
DEPRECIATION
At 1 January 2021 53,786 3,177 81,123 138,086
Charge for year 8,611 22,727 24,451 55,789
At 31 December 2021 62,397 25,904 105,574 193,875
NET BOOK VALUE
At 31 December 2021 37,285 112,342 28,465 178,092
At 31 December 2020 35,466 2,318 46,979 84,763

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 215,212 377,495
Other debtors 28,865 107,650
244,077 485,145

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Hire purchase contracts (see note 8) 13,682 -
Trade creditors 836,299 1,478,585
Taxation and social security 243,030 622,021
Other creditors 141,284 108,736
1,234,295 2,209,342

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Hire purchase contracts (see note 8) 92,099 -

GLOBAL FOOTBALL COMPANY LIMITED (REGISTERED NUMBER: 03659422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2021 2020
£    £   
Net obligations repayable:
Within one year 13,682 -
Between one and five years 92,099 -
105,781 -

Non-cancellable operating leases
2021 2020
£    £   
Within one year 106,920 111,309
Between one and five years 410,105 427,973
In more than five years - 89,051
517,025 628,333

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Hire purchase contracts 105,781 -