2 false false false false false false false false false true false false false false false false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 7,000,000 7,000,000 7,000,000 xbrli:pure xbrli:shares iso4217:GBP 05314982 2022-01-01 2022-12-31 05314982 2022-12-31 05314982 2021-01-01 2021-12-31 05314982 2021-12-31 05314982 bus:Director2 2022-01-01 2022-12-31 05314982 core:WithinOneYear 2022-12-31 05314982 core:WithinOneYear 2021-12-31 05314982 core:AfterOneYear 2021-12-31 05314982 core:ShareCapital 2022-12-31 05314982 core:ShareCapital 2021-12-31 05314982 core:RevaluationReserve 2022-12-31 05314982 core:RevaluationReserve 2021-12-31 05314982 core:RetainedEarningsAccumulatedLosses 2022-12-31 05314982 core:RetainedEarningsAccumulatedLosses 2021-12-31 05314982 core:LandBuildings 2022-12-31 05314982 core:LandBuildings 2021-12-31 05314982 bus:SmallEntities 2022-01-01 2022-12-31 05314982 bus:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 05314982 bus:FullAccounts 2022-01-01 2022-12-31 05314982 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 05314982 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31
COMPANY REGISTRATION NUMBER: 05314982
GOLDNET INVESTMENTS LIMITED
Filleted Unaudited Financial Statements
31 December 2022
GOLDNET INVESTMENTS LIMITED
Statement of Financial Position
31 December 2022
2022
2021
Note
£
£
£
Fixed assets
Investment Property
5
7,000,000
7,000,000
Current assets
Debtors
6
1,029,745
921,894
Cash at bank and in hand
224,932
397,687
------------
------------
1,254,677
1,319,581
Creditors: amounts falling due within one year
7
4,963,630
1,354,063
------------
------------
Net current liabilities
3,708,953
34,482
------------
------------
Total assets less current liabilities
3,291,047
6,965,518
Creditors: amounts falling due after more than one year
8
3,051,586
Deferred tax provision
606,000
606,000
------------
------------
Net assets
2,685,047
3,307,932
------------
------------
Capital and reserves
Called up share capital
2
2
Fair value reserve
9
2,424,200
2,424,200
Profit and loss account
9
260,845
883,730
------------
------------
Shareholders funds
2,685,047
3,307,932
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GOLDNET INVESTMENTS LIMITED
Statement of Financial Position (continued)
31 December 2022
These financial statements were approved by the board of directors and authorised for issue on 31 October 2023 , and are signed on behalf of the board by:
S Friedman
Director
Company registration number: 05314982
GOLDNET INVESTMENTS LIMITED
Notes to the Financial Statements
Year ended 31 December 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
4. Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to:
2022
2021
No.
No.
Production staff
2
2
----
----
The aggregate payroll costs incurred during the year, relating to the above, were:
2022
2021
£
£
Wages and salaries
20,500
14,346
--------
--------
5. Investment property
Land and buildings
£
Fair value
At 1 January 2022 and 31 December 2022
7,000,000
------------
Depreciation
At 1 January 2022 and 31 December 2022
------------
Carrying amount
At 31 December 2022
7,000,000
------------
At 31 December 2021
7,000,000
------------
6. Debtors
2022
2021
£
£
Trade debtors
4,967
1,967
Other debtors
1,024,778
919,927
------------
---------
1,029,745
921,894
------------
---------
7. Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
3,022,012
61,662
Accruals and deferred income
42,711
15,529
Corporation tax
125,714
92,387
Director loan accounts
601,880
13,170
Other creditors
1,171,313
1,171,315
------------
------------
4,963,630
1,354,063
------------
------------
8. Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
3,051,586
----
------------
9. Reserves
Fair value reserve - This reserve records the value of Investment Property revaluations and fair value movements net of deferred tax provisions. Profit and loss account - This reserve records retained earnings and accumulated losses.