Company registration number 05964335 (England and Wales)
GLOBETREKKER OUTDOORKIT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
GLOBETREKKER OUTDOORKIT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
GLOBETREKKER OUTDOORKIT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
5,234
6,979
Current assets
Stocks
862,722
935,320
Debtors
5
9,429
1,663
Cash at bank and in hand
43,296
88,090
915,447
1,025,073
Creditors: amounts falling due within one year
6
(321,187)
(354,703)
Net current assets
594,260
670,370
Net assets
599,494
677,349
Capital and reserves
Called up share capital
7
500
500
Capital redemption reserve
500
500
Profit and loss reserves
598,494
676,349
Total equity
599,494
677,349

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 year ended 31 March 2023 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.

The member has not required the company to obtain an audit of its financial statements for the year 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 1 November 2023
N Gaunce
Director
Company registration number 05964335 (England and Wales)
GLOBETREKKER OUTDOORKIT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Globetrekker Outdoorkit Limited is a private company limited by shares incorporated in England and Wales. The registered office is Egale 1, 80 St Albans Road, Watford, Hertfordshire, WD17 1DL.

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 amounts 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
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% written down value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.6
Cash at bank and in hand

Cash at bank and in hand 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.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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.

GLOBETREKKER OUTDOORKIT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price.

Basic financial liabilities

Basic financial liabilities 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.8
Equity instruments

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

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

2
Employees

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

2023
2022
Number
Number
Total
4
4
GLOBETREKKER OUTDOORKIT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
205,000
Amortisation and impairment
At 1 April 2022 and 31 March 2023
205,000
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
-
0
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 and 31 March 2023
21,249
Depreciation and impairment
At 1 April 2022
14,270
Depreciation charged in the year
1,745
At 31 March 2023
16,015
Carrying amount
At 31 March 2023
5,234
At 31 March 2022
6,979
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
9,429
1,663
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
234,308
241,602
Taxation and social security
60,472
109,026
Other creditors
26,407
4,075
321,187
354,703
GLOBETREKKER OUTDOORKIT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
7
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
500
500
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
13,130
13,130
2023-03-312022-04-01false02 November 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityN Gaunce059643352022-04-012023-03-31059643352023-03-31059643352022-03-3105964335core:OtherPropertyPlantEquipment2023-03-3105964335core:OtherPropertyPlantEquipment2022-03-3105964335core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3105964335core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3105964335core:CurrentFinancialInstruments2023-03-3105964335core:CurrentFinancialInstruments2022-03-3105964335core:ShareCapital2023-03-3105964335core:ShareCapital2022-03-3105964335core:CapitalRedemptionReserve2023-03-3105964335core:CapitalRedemptionReserve2022-03-3105964335core:RetainedEarningsAccumulatedLosses2023-03-3105964335core:RetainedEarningsAccumulatedLosses2022-03-3105964335bus:Director12022-04-012023-03-3105964335core:Goodwill2022-04-012023-03-3105964335core:FurnitureFittings2022-04-012023-03-31059643352021-04-012022-03-3105964335core:NetGoodwill2022-03-3105964335core:NetGoodwill2023-03-3105964335core:NetGoodwill2022-03-3105964335core:OtherPropertyPlantEquipment2022-03-3105964335core:OtherPropertyPlantEquipment2022-04-012023-03-3105964335core:WithinOneYear2023-03-3105964335core:WithinOneYear2022-03-3105964335bus:PrivateLimitedCompanyLtd2022-04-012023-03-3105964335bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3105964335bus:FRS1022022-04-012023-03-3105964335bus:AuditExemptWithAccountantsReport2022-04-012023-03-3105964335bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP