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Registered number: 05185879
Global Food Technology Limited
Financial Statements
For The Year Ended 31 July 2023
William Price & Co Limited
Chartered Accountants
Westbury Court Church Road
Westbury On Trym
Bristol
BS9 3EF
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05185879
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,800 5,600
2,800 5,600
CURRENT ASSETS
Stocks 5 6,345 36,220
Debtors 6 38,236 100,921
Cash at bank and in hand 14,308 109,304
58,889 246,445
Creditors: Amounts Falling Due Within One Year 7 (106,150 ) (243,888 )
NET CURRENT ASSETS (LIABILITIES) (47,261 ) 2,557
TOTAL ASSETS LESS CURRENT LIABILITIES (44,461 ) 8,157
Creditors: Amounts Falling Due After More Than One Year 8 (32,798 ) (39,008 )
NET LIABILITIES (77,259 ) (30,851 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (77,359 ) (30,951 )
SHAREHOLDERS' FUNDS (77,259) (30,851)
Page 1
Page 2
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms J A Flower
Director
8 April 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Global Food Technology Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05185879 . The registered office is Westbury Court Church Road, Westbury On Trym, Bristol, BS9 3EF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Computer Equipment 25% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 August 2022 16,989 4,777 21,766
As at 31 July 2023 16,989 4,777 21,766
Depreciation
As at 1 August 2022 11,389 4,777 16,166
Provided during the period 2,800 - 2,800
As at 31 July 2023 14,189 4,777 18,966
Net Book Value
As at 31 July 2023 2,800 - 2,800
As at 1 August 2022 5,600 - 5,600
5. Stocks
2023 2022
£ £
Finished goods 6,345 36,220
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,224 66,417
Prepayments and accrued income 34,504 34,504
VAT 1,508 -
38,236 100,921
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 16,030 19,746
Bank loans and overdrafts 6,210 6,210
Other taxes and social security 540 8,626
VAT - 121,006
...CONTINUED
Page 4
Page 5
Other creditors 540 334
Accruals and deferred income 34,862 34,792
Director's loan account 47,968 53,174
106,150 243,888
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 32,798 39,008
32,798 39,008
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5