Company registration number 05851475 (England and Wales)
R GOULD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
R GOULD LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
R GOULD LIMITED (REGISTERED NUMBER: 05851475)
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
30,101
33,608
Tangible assets
4
1,843
30,101
35,451
Current assets
Stocks
6,776
Debtors
5
96,307
133,047
Cash at bank and in hand
71
637
96,378
140,460
Creditors: amounts falling due within one year
6
(92,655)
(101,346)
Net current assets
3,723
39,114
Total assets less current liabilities
33,824
74,565
Creditors: amounts falling due after more than one year
7
(148,999)
(158,859)
Net liabilities
(115,175)
(84,294)
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
(115,178)
(84,297)
Total equity
(115,175)
(84,294)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
R GOULD LIMITED (REGISTERED NUMBER: 05851475)
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 13 June 2023
R Gould
Director
R GOULD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
R Gould Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19/21 Swan Street, West Malling, Kent, ME19 6JU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The balance sheet shows net liabilities. A bounce-back loan and a CBILS loan make up the majority of the creditors of the company.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
15% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
R GOULD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.8
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
87,660
Amortisation and impairment
At 1 April 2022
54,052
Amortisation charged for the year
3,507
At 31 March 2023
57,559
Carrying amount
At 31 March 2023
30,101
At 31 March 2022
33,608
R GOULD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
4
Tangible fixed assets
Plant and machinery
£
Cost
At 1 April 2022
12,867
Disposals
(12,867)
At 31 March 2023
Depreciation and impairment
At 1 April 2022
11,024
Eliminated in respect of disposals
(11,024)
At 31 March 2023
Carrying amount
At 31 March 2023
At 31 March 2022
1,843
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
9,761
39,381
Other debtors
86,546
93,666
96,307
133,047
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
71,554
70,289
Trade creditors
3,571
7,602
Taxation and social security
13,680
20,352
Other creditors
3,850
3,103
92,655
101,346
R GOULD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
148,999
158,859
9
Financial commitments, guarantees and contingent liabilities
In the 2021 accounting period, the company borrowed £50,000 from its bankers for a Bounce Back Loan. As part of this loan scheme, the UK government guaranteed the advance and paid the interest and fees due for the first 12 months.
In the 2021 accounting period, the company borrowed £153,000 from its bankers for a CBILS. As part of this loan scheme, the UK government guaranteed the advance and paid the interest and fees due for the first 12 months.