GOTTO LIMITED

Company Registration Number:
06033820 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2022

Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

GOTTO LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

GOTTO LIMITED

Company Information

for the Period Ended 31 December 2022




Director: Mr C L Aldworth
Mr P B Martin
Registered office: Here
Bath Road
Bristol
England
BS4 3AP
Company Registration Number: 06033820 (England and Wales)

GOTTO LIMITED

Balance sheet

As at 31 December 2022


Notes

2022
£

2021
£
Fixed assets
Intangible assets: 4 1,969 3,094
Total fixed assets: 1,969 3,094
Current assets
Debtors: 5 6,522 36,218
Cash at bank and in hand: 73,454 72,250
Total current assets: 79,976 108,468
Creditors: amounts falling due within one year: 6 ( 43,910 ) ( 92,179 )
Net current assets (liabilities): 36,066 16,289
Total assets less current liabilities: 38,035 19,383
Creditors: amounts falling due after more than one year: 7 ( 7,733 ) ( 10,933 )
Total net assets (liabilities): 30,302 8,450

The notes form part of these financial statements

GOTTO LIMITED

Balance sheet continued

As at 31 December 2022


Notes

2022
£

2021
£
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 29,302 7,450
Shareholders funds: 30,302 8,450

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

This report was approved by the board of directors on 29 September 2023
And Signed On Behalf Of The Board By:

Name: Mr P B Martin
Status: Director

The notes form part of these financial statements

GOTTO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
    Plant and machinery - 25% reducing balance basis
    Fixtures and fittings - 15% reducing balance basis
    Motor vehicles - 25% reducing balance basis
    Computer equipment - 33% reducing balance basis

    Intangible fixed assets amortisation policy

    Know-how acquired for use in the business is capitalised and amortised at the following annual rates in order to write off each asset over its estimated useful life.
    Know-how - 25% straight line basis

    Valuation information and policy

    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 items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

    Other accounting policies

    Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. Deferred taxation is calculated at the rates of tax that are expected to apply in the periods when the timing differences will reverse and has not been discounted. Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

GOTTO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 2. Employees


    2022

    2021
    Average number of employees during the period 4 4

GOTTO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 3. Off balance sheet disclosure

    No

GOTTO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Intangible assets

Other Total
Cost £ £
At 01 January 2022 4,500 4,500
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 31 December 2022 4,500 4,500
Amortisation
Amortisation at 01 January 2022 1,406 1,406
Charge for year 1,125 1,125
On disposals - -
Other adjustments - -
Amortisation at 31 December 2022 2,531 2,531
Net book value
Net book value at 31 December 2022 1,969 1,969
Net book value at 31 December 2021 3,094 3,094

GOTTO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Debtors


2022
£

2021
£
Trade debtors 69 30,365
Prepayments and accrued income 6,453 4,554
Other debtors 1,299
Total 6,522 36,218

GOTTO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

6.Creditors: amounts falling due within one year note


2022
£

2021
£
Bank loans and overdrafts 3,200 3,200
Trade creditors 31,351 50,169
Taxation and social security 2,292 499
Accruals and deferred income 500 4,500
Other creditors 6,567 33,811
Total 43,910 92,179

GOTTO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

7.Creditors: amounts falling due after more than one year


2022
£

2021
£
Bank loans and overdrafts 7,733 10,933
Total 7,733 10,933

GOTTO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 8. Post balance sheet events

    Subsequent to the end of the financial year Visa withdrew the company’s Credit/Debit card facility. As the majority of the company’s customers were using Visa cards this had a drastic effect on sales and consequently the company stopped trading in August 2023. The reported loss for the period Jan 23 - Aug 23 is expected to exceed £25,000.