Globe Foods Northern Ltd 31/03/2025 iXBRL

Company registration number: 14823912

Globe Foods Northern Ltd

Unaudited filleted financial statements

31 March 2025

Globe Foods Northern Ltd

Contents

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Globe Foods Northern Ltd

Statement of financial position

31 March 2025

		31/03/25		31/03/24
	Note	£	£	£	£

Fixed assets
Tangible assets	5	146,355		219,533
		_________		_________
			146,355		219,533

Current assets
Stocks		356,959		187,323
Debtors	6	186,324		168,489
Cash at bank and in hand		95,031		37,066
		_________		_________
		638,314		392,878
Creditors: amounts falling due
within one year	7	( 1,117,860)		( 782,929)
		_________		_________
Net current liabilities			( 479,546)		( 390,051)
			_________		_________
Total assets less current liabilities			( 333,191)		( 170,518)


Provisions for liabilities	8		( 36,589)		( 54,883)

			_________		_________
Net liabilities			( 369,780)		( 225,401)
			_________		_________

Capital and reserves
Called up share capital			100		100
Profit and loss account			( 369,880)		( 225,501)
			_________		_________
Shareholders deficit			( 369,780)		( 225,401)
			_________		_________

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 21 December 2025 , and are signed on behalf of the board by:

Mr Mustafa Taher Motiwalla

Director

Company registration number: 14823912

Globe Foods Northern Ltd

Statement of changes in equity

Year ended 31 March 2025

	Called up share capital	Profit and loss account	Total
	£	£	£


At 24 April 2023	-	-	-

Loss for the year		( 225,501)	( 225,501)
	_______	_________	_________
Total comprehensive income for the year	-	( 225,501)	( 225,501)

Issue of shares	100		100
	_______	_________	_________
Total investments by and distributions to owners	100	-	100

	_______	_________	_________
At 31 March 2024 and 1 April 2024	100	( 225,501)	( 225,401)

Loss for the year		( 144,379)	( 144,379)
	_______	_________	_________
Total comprehensive income for the year	-	( 144,379)	( 144,379)

	_______	_________	_________
At 31 March 2025	100	( 369,880)	( 369,780)
	_______	_________	_________

Globe Foods Northern Ltd

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 4 Raisins Hill, Pinner, Middlesex HA5 2BS.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

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

Plant and machinery - 25 % straight line

Fittings fixtures and equipment - 25 % straight line

Motor vehicles - 25 % straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2024: 3 ).

5. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024 and 31 March 2025	201,669	61,227	29,815	292,711
	_________	_________	_________	_________
Depreciation
At 1 April 2024	50,417	15,307	7,454	73,178
Charge for the year	50,417	15,307	7,454	73,178
	_________	_________	_________	_________
At 31 March 2025	100,834	30,614	14,908	146,356
	_________	_________	_________	_________
Carrying amount
At 31 March 2025	100,835	30,613	14,907	146,355
	_________	_________	_________	_________
At 31 March 2024	151,252	45,920	22,361	219,533
	_________	_________	_________	_________

6. Debtors

	31/03/25	31/03/24
	£	£
Trade debtors	127,765	112,015
Rent deposit	30,000	30,000
Called up share capital not paid	100	100
Prepayments and accrued income	11,706	9,459
Other debtors	16,753	16,915
	_________	_________
	186,324	168,489
	_________	_________

7. Creditors: amounts falling due within one year

	31/03/25	31/03/24
	£	£
Trade creditors	228,318	108,709
Amounts owed to related companies	867,870	662,870
Accruals and deferred income	18,576	11,350
Social security and other taxes	3,096	-
	_________	_________
	1,117,860	782,929
	_________	_________

8. Provisions

	Deferred tax	Total
	£	£
At 1 April 2024	54,883	54,883
Unused amounts reversed	( 18,294)	( 18,294)
	_________	_________
At 31 March 2025	36,589	36,589
	_________	_________

9. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Later than 1 year and not later than 5 years	62,000	62,000
	_________	_________