Caseware UK (AP4) 2022.0.179 2022.0.179 2022-07-312022-07-312021-08-01falseNo description of principal activity2422falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12622790 2021-08-01 2022-07-31 12622790 2020-05-26 2021-07-31 12622790 2022-07-31 12622790 2021-07-31 12622790 c:Director2 2021-08-01 2022-07-31 12622790 d:PlantMachinery 2021-08-01 2022-07-31 12622790 d:PlantMachinery 2022-07-31 12622790 d:PlantMachinery 2021-07-31 12622790 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 12622790 d:MotorVehicles 2021-08-01 2022-07-31 12622790 d:MotorVehicles 2022-07-31 12622790 d:MotorVehicles 2021-07-31 12622790 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 12622790 d:FurnitureFittings 2021-08-01 2022-07-31 12622790 d:FurnitureFittings 2022-07-31 12622790 d:FurnitureFittings 2021-07-31 12622790 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 12622790 d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 12622790 d:Goodwill 2021-08-01 2022-07-31 12622790 d:Goodwill 2022-07-31 12622790 d:Goodwill 2021-07-31 12622790 d:CurrentFinancialInstruments 2022-07-31 12622790 d:CurrentFinancialInstruments 2021-07-31 12622790 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 12622790 d:CurrentFinancialInstruments d:WithinOneYear 2021-07-31 12622790 d:ShareCapital 2022-07-31 12622790 d:ShareCapital 2021-07-31 12622790 d:RetainedEarningsAccumulatedLosses 2022-07-31 12622790 d:RetainedEarningsAccumulatedLosses 2021-07-31 12622790 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-07-31 12622790 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-07-31 12622790 c:FRS102 2021-08-01 2022-07-31 12622790 c:AuditExempt-NoAccountantsReport 2021-08-01 2022-07-31 12622790 c:FullAccounts 2021-08-01 2022-07-31 12622790 c:PrivateLimitedCompanyLtd 2021-08-01 2022-07-31 12622790 6 2021-08-01 2022-07-31 12622790 d:Goodwill d:OwnedIntangibleAssets 2021-08-01 2022-07-31 iso4217:GBP xbrli:pure

Registered number: 12622790









GOING GROUP LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

 
GOING GROUP LTD
REGISTERED NUMBER: 12622790

BALANCE SHEET
AS AT 31 JULY 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
72,003
96,003

Tangible assets
 5 
59,432
66,543

Investments
 6 
1
1

  
131,436
162,547

Current assets
  

Stocks
 7 
130,768
99,252

Debtors: amounts falling due within one year
 8 
417,133
152,220

Cash at bank and in hand
 9 
35,059
29,359

  
582,960
280,831

Creditors: amounts falling due within one year
 10 
(481,716)
(353,640)

Net current assets/(liabilities)
  
 
 
101,244
 
 
(72,809)

Total assets less current liabilities
  
232,680
89,738

  

Net assets
  
232,680
89,738


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
232,580
89,638

  
232,680
89,738


Page 1

 
GOING GROUP LTD
REGISTERED NUMBER: 12622790
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2023.




................................................
Stephen Welch
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
GOING GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

1.


General information

Going Group Ltd is a private company limited by shares, incorporated in England and Wales. It is trading as Going Underground. The principal activity throughout the year was that of construction of water projects. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 3

 
GOING GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
GOING GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance and straight line basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
33%
straight line
Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
GOING GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

2.Accounting policies (continued)

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
GOING GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

3.


Employees

The average monthly number of employees, including directors, during the year was 24 (2021 - 22).


4.


Intangible assets




Goodwill

£



Cost


At 1 August 2021
120,003



At 31 July 2022

120,003



Amortisation


At 1 August 2021
24,000


Charge for the year on owned assets
24,000



At 31 July 2022

48,000



Net book value



At 31 July 2022
72,003



At 31 July 2021
96,003



Page 7

 
GOING GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 August 2021
40,098
43,050
6,276
89,424


Additions
12,822
-
1,436
14,258



At 31 July 2022

52,920
43,050
7,712
103,682



Depreciation


At 1 August 2021
10,026
10,763
2,092
22,881


Charge for the year on owned assets
10,725
8,073
2,571
21,369



At 31 July 2022

20,751
18,836
4,663
44,250



Net book value



At 31 July 2022
32,169
24,214
3,049
59,432



At 31 July 2021
30,072
32,287
4,184
66,543


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 August 2021
1



At 31 July 2022
1




Page 8

 
GOING GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

7.


Stocks

2022
2021
£
£

Work in progress (goods to be sold)
75,881
92,252

Finished goods and goods for resale
54,887
7,000

130,768
99,252



8.


Debtors

2022
2021
£
£


Trade debtors
390,996
131,439

Amounts owed by joint ventures and associated undertakings
9,541
-

Other debtors
8,577
6,948

Prepayments and accrued income
8,019
13,833

417,133
152,220



9.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
35,059
29,359

35,059
29,359


Page 9

 
GOING GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

10.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other loans
-
80,000

Trade creditors
99,423
75,560

Amounts owed to joint ventures
-
557

Corporation tax
80,442
23,513

Other taxation and social security
162,735
107,863

Other creditors
136,041
63,222

Accruals and deferred income
3,075
2,925

481,716
353,640


The following liabilities were secured:




Details of security provided:

The loan is secured.


11.


Financial instruments

2022
2021
£
£

Financial assets


Financial assets measured at fair value through profit or loss
35,059
29,359




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £13,509 (2021 - £12,290). Contributions totalling £11,247 (2021 - £2,466) were payable to the fund at the balance sheet date.

Page 10

 
GOING GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

13.


Related party transactions

Going Underground Ltd is a company in which Going Group Ltd is a 100% shareholder and in which the directors, Fraser Dean and Stephen Welch, are directors. During the year transactions totalling £nil (2021 - £1) were made with this company. At the year end £1 was outstanding.
Going Environmental Ltd is a company in which the directors, Fraser Dean and Stephen Welch, are directors and shareholders. During the year transactions totalling £6,577 were made with this company and this balance was outstanding at the Balance Sheet date.
Butler-Hall Engineering Ltd is a company in which the directors Fraser Dean and Stephen Welch, are directors and shareholders. During the year sales totalling £23,167 and purchases totalling £300 were made with the Company.  At the year end £2,966 was due to the Company.


14.


Controlling party

The Company is controlled by the directors, Fraser Dean and Stephen Welch, by virtue of their shareholding as described in the directors' report.

 
Page 11