Globemarket Limited - Filleted accounts

Registered number

03424074

Globemarket Limited

Report and Unaudited Accounts

31 July 2025

Collins

Chartered Accountants

West Midlands

Globemarket Limited
Registered number:		03424074
Balance Sheet
as at 31 July 2025


Notes		2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		2		2
Tangible assets	4		64,690		79,108
			64,692		79,110

Current assets
Stocks		84,000		93,000
Debtors	5	506,927		508,334
Cash at bank and in hand		25,089		27,500
		616,016		628,834

Creditors: amounts falling due within one year	6	(584,318)		(558,881)

Net current assets			31,698		69,953

Total assets less current liabilities			96,390		149,063

Creditors: amounts falling due after more than one year	7		-		(50,000)

Provisions for liabilities			(15,944)		(19,437)

Net assets			80,446		79,626

Capital and reserves
Called up share capital			37,500		37,500
Share premium			7,500		7,500
Profit and loss account			35,446		34,626

Shareholders' funds			80,446		79,626

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.

P A J Hotchkiss

G Littlewood
Directors
Approved by the board on 27 November 2025

Globemarket Limited
Notes to the Accounts
for the year ended 31 July 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102 (as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the sale of goods, this is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Computers	25% straight line
	Plant and machinery	10%-33.3% reducing balance
	Motor vehicles	33.3% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			13		13


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 August 2024					2
	At 31 July 2025					2

	Amortisation
	At 31 July 2025					-

	Net book value
	At 31 July 2025					2
	At 31 July 2024					2

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
		Plant and fixtures		Motor vehicles		Total
£			£		£
	Cost
	At 1 August 2024	239,320		45,510		284,830
	Additions	5,396		-		5,396
	At 31 July 2025	244,716		45,510		290,226

	Depreciation
	At 1 August 2024	183,161		22,561		205,722
	Charge for the year	12,164		7,650		19,814
	At 31 July 2025	195,325		30,211		225,536

	Net book value
	At 31 July 2025	49,391		15,299		64,690
	At 31 July 2024	56,159		22,949		79,108




5	Debtors			2025		2024
£					£

	Trade debtors			229,850		253,152
	Prepayments and accrued income			24,412		24,297
	Amount due from holding company			252,665		230,885
				506,927		508,334


6	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loan			82,382		50,000
	Obligations under finance lease and hire purchase contracts			4,267		10,217
	Trade creditors			192,999		209,097
	Commercial finance advance			184,970		191,130
	Corporation tax			59,963		43,176
	Other taxes and social security costs			24,058		21,668
	Directors loans			1,424		1,424
	Accruals and deferred income			34,255		32,169
				584,318		558,881


7	Creditors: amounts falling due after one year			2025		2024
£					£

	Bank loan			-		50,000


8	Pension commitments

	The company operates defined contribution pension schemes. The pension charge to profit and loss represents contributions payable by the company during the year amounted to £121,149 (2024 £172,514).


9	Personal guarantees

	The directors have given personal guarantees to the bank, limited to £30,000 in total.


10	Controlling party

	The company is a wholly owned subsidiary of Globemarket Holdings Limited, a company incorporated in England & Wales.


11	Other information

	Globemarket Limited is a private company limited by shares and incorporated in England. Its registered office is:
	101-102 Middlemore Industrial Estate,
	Middlemore Lane
	Smethwick
	West Midlands
	B66 2EQ