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Registration number: 02399049

Goulditar No. 47 Limited

Unaudited Financial Statements

for the Year Ended 31 March 2022

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Goulditar No. 47 Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Goulditar No. 47 Limited

Company Information

Directors

P D Jackson

A C Robinson

Registered office

2-4 Court Yard
Eltham
London
SE9 5PZ

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Goulditar No. 47 Limited

Statement of Financial Position as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

5,164

7,755

Current assets

 

Debtors

5

463,395

423,734

Cash at bank and in hand

 

409,995

430,200

 

873,390

853,934

Creditors: Amounts falling due within one year

6

(942,149)

(933,762)

Net current liabilities

 

(68,759)

(79,828)

Total assets less current liabilities

 

(63,595)

(72,073)

Provisions for liabilities

(813)

(1,430)

Net liabilities

 

(64,408)

(73,503)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(64,410)

(73,505)

Shareholders' deficit

 

(64,408)

(73,503)

For the financial year ending 31 March 2022 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Goulditar No. 47 Limited

Statement of Financial Position as at 31 March 2022

Approved and authorised by the Board on 5 October 2023 and signed on its behalf by:
 

.........................................

A C Robinson

Director

Company registration number: 02399049

 

Goulditar No. 47 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2-4 Court Yard
Eltham
London
SE9 5PZ

The principal activity of the company is that of property rental and administrative support.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a profit for the year ended 31 March 2022 but had net liabilities amounting to £64,408 at that date.

In determining whether the company remains a going concern, the directors have considered the potential effect of the current economic outlook and the director believes that the impact will continue to be manageable. At 31 March 2022 an amount of £661,379 was due to related companies who have confirmed they will not call for repayment until such time as the company has sufficient working capital. Rental income has remained at a similar level during the pandemic to previously, which has enabled the company to meet its own financial commitments. Additionally, the company's customers have continued to require administrative support services and to settle the amounts due for services provided.

The company has continued to trade profitably subsequent to 31 March 2022.

The directors have a reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

 

Goulditar No. 47 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue in the period to which the service relates.

Government grants

Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% straight line

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Goulditar No. 47 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 7 (2021 - 6).

 

Goulditar No. 47 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2021

44,395

23,071

67,466

At 31 March 2022

44,395

23,071

67,466

Depreciation

At 1 April 2021

37,084

22,627

59,711

Charge for the year

2,480

111

2,591

At 31 March 2022

39,564

22,738

62,302

Carrying amount

At 31 March 2022

4,831

333

5,164

At 31 March 2021

7,311

444

7,755

5

Debtors

2022
£

2021
£

Trade debtors

68,388

38,195

Other debtors

395,007

385,539

463,395

423,734

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Loans and borrowings

7

-

385

Trade creditors

 

44,827

39,104

Taxation and social security

 

19,827

22,593

Other creditors

 

877,495

871,680

 

942,149

933,762

 

Goulditar No. 47 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

7

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Bank overdraft

-

385

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments under operating leases not included in the statement of financial position is £381,665 (2021 - £492,515).