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REGISTERED NUMBER: 04910073 (England and Wales)






Goliath Footwear Limited

Financial Statements

for the Year Ended 31 December 2023






Goliath Footwear Limited (Registered number: 04910073)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Goliath Footwear Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: Mr L Gulcan
Mr A V Yakupoglu





SECRETARY: Mr L Gulcan





REGISTERED OFFICE: Goliath House
Chain Bar Road
Cleckheaton
West Yorkshire
BD19 3QF





REGISTERED NUMBER: 04910073 (England and Wales)





AUDITORS: SMH Jolliffe Cork Audit Ltd
Chartered Accountants & Statutory Auditor
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Goliath Footwear Limited (Registered number: 04910073)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 58 113
Tangible assets 5 97,728 101,333
97,786 101,446

CURRENT ASSETS
Stocks 2,585,087 1,907,105
Debtors 6 4,275,151 1,330,935
Cash at bank and in hand 6,830,866 9,992,684
13,691,104 13,230,724
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR

7

283,858

171,625
NET CURRENT ASSETS 13,407,246 13,059,099
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,505,032

13,160,545

PROVISIONS FOR LIABILITIES 2,018 1,082
NET ASSETS 13,503,014 13,159,463

Goliath Footwear Limited (Registered number: 04910073)

Balance Sheet - continued
31 December 2023

2023 2022
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 9 11,000,000 11,000,000
Retained earnings 2,503,014 2,159,463
SHAREHOLDERS' FUNDS 13,503,014 13,159,463

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:




Mr L Gulcan - Director



Mr A V Yakupoglu - Director


Goliath Footwear Limited (Registered number: 04910073)

Notes to the Financial Statements
for the year ended 31 December 2023


1. STATUTORY INFORMATION

Goliath Footwear Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful of economic life of that asset as follows:

Trademarks- 5% on cost

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Moulds and lasts - 20% on cost
Warehouse fixtures and fittings - 20% on cost and 2% on cost
Office equipment - 20% on cost
Furniture & Fittings - 20% on cost
Computer equipment - 33% on cost

All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.


Goliath Footwear Limited (Registered number: 04910073)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Trademarks
£
COST
At 1 January 2023
and 31 December 2023 1,106
AMORTISATION
At 1 January 2023 993
Amortisation for year 55
At 31 December 2023 1,048
NET BOOK VALUE
At 31 December 2023 58
At 31 December 2022 113

Goliath Footwear Limited (Registered number: 04910073)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


5. TANGIBLE FIXED ASSETS
Warehouse
fixtures
Moulds and and Office
lasts fittings equipment
£ £ £
COST
At 1 January 2023 681,314 289,714 217
Additions - 5,481 -
At 31 December 2023 681,314 295,195 217
DEPRECIATION
At 1 January 2023 681,314 191,104 217
Charge for year - 8,142 -
At 31 December 2023 681,314 199,246 217
NET BOOK VALUE
At 31 December 2023 - 95,949 -
At 31 December 2022 - 98,610 -

Furniture & Computer
Fittings equipment Totals
£ £ £
COST
At 1 January 2023 6,484 38,146 1,015,875
Additions - - 5,481
At 31 December 2023 6,484 38,146 1,021,356
DEPRECIATION
At 1 January 2023 5,013 36,894 914,542
Charge for year - 944 9,086
At 31 December 2023 5,013 37,838 923,628
NET BOOK VALUE
At 31 December 2023 1,471 308 97,728
At 31 December 2022 1,471 1,252 101,333

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 759,071 912,707
Amounts owed by group undertakings 3,385,336 335,749
Prepayments and accrued income 130,744 82,479
4,275,151 1,330,935

Goliath Footwear Limited (Registered number: 04910073)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 111,418 71,615
Tax 106,034 38,872
Social security and other taxes 5,710 4,727
VAT 45,137 41,291
Other creditors 6,922 7,685
Accruals and deferred income 8,637 7,435
283,858 171,625

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 147,603 152,647
Between one and five years - 3,603
147,603 156,250

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £ £
11,000,000 Ordinary £1 11,000,000 11,000,000

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jane Crossley FCA CTA (Senior Statutory Auditor)
for and on behalf of SMH Jolliffe Cork Audit Ltd

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The parent company is Yakupoglu Tekstil ve Deri Sanayi Ticaret A.S. a company registered in Turkey with its principal place of business at Airport Road 20.Km.06750, Akyurt, Ankara,Turkey.