Company Registration No. 07954584 (England and Wales)
THE GOOD VAN COMPANY LIMITED
Unaudited accounts
for the year ended 31 March 2023
THE GOOD VAN COMPANY LIMITED
Unaudited accounts
Contents
THE GOOD VAN COMPANY LIMITED
Company Information
for the year ended 31 March 2023
Company Number
07954584 (England and Wales)
Registered Office
372/374 BROOK STREET
ASHTON
PRESTON
LANCASHIRE
PR2 3AH
Accountants
BRJF Accountants
Unit 12 Guest House Farm
Leyland
Euxton
Lancashire
PR7 6HD
THE GOOD VAN COMPANY LIMITED
Statement of financial position
as at 31 March 2023
Tangible assets
11,133
14,012
Inventories
1,024,455
1,061,086
Cash at bank and in hand
45,254
131,552
Creditors: amounts falling due within one year
(791,962)
(898,466)
Net current assets
359,384
405,295
Total assets less current liabilities
370,517
419,307
Provisions for liabilities
Net assets
370,517
416,644
Called up share capital
1
1
Profit and loss account
370,516
416,643
Shareholders' funds
370,517
416,644
For the year ending 31 March 2023 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 October 2023 and were signed on its behalf by
Mark Jenkinson
Director
Company Registration No. 07954584
THE GOOD VAN COMPANY LIMITED
Notes to the Accounts
for the year ended 31 March 2023
THE GOOD VAN COMPANY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07954584. The registered office is 372/374 BROOK STREET, ASHTON, PRESTON, LANCASHIRE, PR2 3AH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Reducing Balance
Computer equipment
25% Reducing Balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
THE GOOD VAN COMPANY LIMITED
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
21,215
2,555
23,770
At 31 March 2023
21,215
2,555
23,770
At 1 April 2022
8,707
1,051
9,758
Charge for the year
2,502
377
2,879
At 31 March 2023
11,209
1,428
12,637
At 31 March 2023
10,006
1,127
11,133
At 31 March 2022
12,508
1,504
14,012
Amounts falling due within one year
Trade debtors
16,011
20,384
Accrued income and prepayments
25,000
25,000
Amounts falling due after more than one year
Accrued income and prepayments
39,107
64,315
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
18,938
72,665
Taxes and social security
22,536
36,360
Other creditors
682,700
756,404
Loans from directors
16
95
Included above are £683,401 (2022: £756,404) of creditors which are secured on the company's stock.
THE GOOD VAN COMPANY LIMITED
Notes to the Accounts
for the year ended 31 March 2023
7
Deferred taxation
2023
2022
Accelerated capital allowances
2,116
2,663
Tax losses carried forward
(2,210)
-
Provision at start of year
2,663
3,352
Credited to the profit and loss account
(2,757)
(689)
Provision at end of year
(94)
2,663
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
As of 31 March 2022, the company owed the director £17.18 (2022: £95.87) in respect of the balance on his director's loan account. The loan is interest free and is repayable to the director on demand.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).