Registered number
13056442
Goonbell Holdings Limited
Filleted Accounts
31 May 2023
Goonbell Holdings Limited
Registered number: 13056442
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 115,968 83,922
Current assets
Stocks 28,494 15,171
Debtors 4 53,649 32,130
Cash at bank and in hand 3,406 7,384
85,549 54,685
Creditors: amounts falling due within one year 5 (102,536) (46,093)
Net current (liabilities)/assets (16,987) 8,592
Total assets less current liabilities 98,981 92,514
Creditors: amounts falling due after more than one year 6 (79,649) (103,581)
Net assets/(liabilities) 19,332 (11,067)
Capital and reserves
Called up share capital 10 10
Profit and loss account 19,322 (11,077)
Shareholder's funds 19,332 (11,067)
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 her 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.
Rachel Simmons
Director
Approved by the board on 12 February 2024
Goonbell Holdings Limited
Notes to the Accounts
for the year ended 31 May 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 discounts and 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 and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset as follows
Leasehold land and buildings over 10 years
Plant and machinery over 10 years
Fixtures, fittings, and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is not recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments as It is not considered material . 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2022 36,048 45,915 22,677 104,640
Additions 58,663 - - 58,663
At 31 May 2023 94,711 45,915 22,677 163,303
Depreciation
At 1 June 2022 3,605 11,478 5,635 20,718
Charge for the year 9,470 11,478 5,669 26,617
At 31 May 2023 13,075 22,956 11,304 47,335
Net book value
At 31 May 2023 81,636 22,959 11,373 115,968
At 31 May 2022 32,443 34,437 17,042 83,922
4 Debtors 2023 2022
£ £
Trade debtors 38,699 11,574
Deferred tax asset 6,930 6,930
Other debtors 8,020 13,626
53,649 32,130
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,300 4,300
Obligations under finance lease and hire purchase contracts 3,900 3,900
Trade creditors 71,783 23,868
Taxation and social security costs 9,114 11,042
Other creditors 13,439 2,983
102,536 46,093
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 62,561 81,750
Obligations under finance lease and hire purchase contracts 17,088 21,831
79,649 103,581
7 Other information
Goonbell Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Goonbell
St Agnes
TR5 0PH
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