Registered number
11241286
Goyals Holdings Limited
Filleted Accounts
31 March 2023
Goyals Holdings Limited
Registered number: 11241286
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,982 -
Current assets
Stocks 300,015 381,404
Debtors 4 - 6,878
Cash at bank 45,318 151,653
345,333 539,935
Creditors: amounts falling due within one year 5 (347,718) (540,562)
Net current liabilities (2,385) (627)
Net assets/(liabilities) 597 (627)
Capital and reserves
Called up share capital 10 10
Profit and loss account 587 (637)
Shareholder's funds 597 (627)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Rajan Goyal
Director
Approved by the board on 1 October 2023
Goyals Holdings Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 4,473
At 31 March 2023 4,473
Depreciation
Charge for the year 1,491
At 31 March 2023 1,491
Net book value
At 31 March 2023 2,982
4 Debtors 2023 2022
£ £
Other debtors - 6,878
5 Creditors: amounts falling due within one year 2023 2022
£ £
Director's loan account 342,858 539,587
Taxation and social security costs 3,610 -
Other creditors 1,250 975
347,718 540,562
All balances on director's loan account attract a nil rate of interest and are repayable on demand.
6 Related party transactions
The company's income is derived from a single customer, who is related to the director. The business transactions are undertaken at arm's length.
7 Other information
Goyals Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
28 Bridge Street
Maidenhead
Berks
SL6 8BJ
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