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REGISTERED NUMBER: SC317400 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Gofor Finance Ltd

Gofor Finance Ltd (Registered number: SC317400)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Gofor Finance Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: G Lesslie





SECRETARY: T Kain





REGISTERED OFFICE: Lochside House
3 Lochside Way
Edinburgh
EH12 9DT





REGISTERED NUMBER: SC317400 (Scotland)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

Gofor Finance Ltd (Registered number: SC317400)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,388 55,716

CURRENT ASSETS
Debtors 5 336,458 172,962
Cash at bank 179,845 395,459
516,303 568,421
CREDITORS
Amounts falling due within one year 6 449,134 381,098
NET CURRENT ASSETS 67,169 187,323
TOTAL ASSETS LESS CURRENT
LIABILITIES

118,557

243,039

CREDITORS
Amounts falling due after more than one
year

7

(107,813

)

(194,063

)

PROVISIONS FOR LIABILITIES (9,764 ) (10,586 )
NET ASSETS 980 38,390

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 880 38,290
SHAREHOLDERS' FUNDS 980 38,390

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 November 2023 and were signed by:





G Lesslie - Director


Gofor Finance Ltd (Registered number: SC317400)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Gofor Finance Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipments - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 15 ) .

Gofor Finance Ltd (Registered number: SC317400)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipments Totals
£    £    £    £   
COST
At 1 April 2022 1,420 30,112 107,501 139,033
Additions - 4,486 2,798 7,284
At 31 March 2023 1,420 34,598 110,299 146,317
DEPRECIATION
At 1 April 2022 339 21,900 61,078 83,317
Charge for year 270 1,828 9,514 11,612
At 31 March 2023 609 23,728 70,592 94,929
NET BOOK VALUE
At 31 March 2023 811 10,870 39,707 51,388
At 31 March 2022 1,081 8,212 46,423 55,716

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 242,345 129,374
Directors' current accounts 34,991 8,185
Prepayments and accrued income 59,122 35,403
336,458 172,962

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 86,250 86,250
Trade creditors 215,082 173,159
Tax 60,840 43,637
Social security and other taxes 20,151 20,610
VAT 57,188 42,507
Other creditors 6,448 11,960
Accrued expenses 3,175 2,975
449,134 381,098

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans - 2-5 years 107,813 194,063

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £129,500 (2022 - £169,900) were paid to the director.