Caseware UK (AP4) 2022.0.179 2022.0.179 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2022-09-01No description of principal activity33truetrue 00852964 2022-09-01 2023-08-31 00852964 2021-09-01 2022-08-31 00852964 2023-08-31 00852964 2022-08-31 00852964 c:CompanySecretary1 2022-09-01 2023-08-31 00852964 c:Director1 2022-09-01 2023-08-31 00852964 c:Director2 2022-09-01 2023-08-31 00852964 c:RegisteredOffice 2022-09-01 2023-08-31 00852964 d:Buildings 2022-09-01 2023-08-31 00852964 d:Buildings 2023-08-31 00852964 d:Buildings 2022-08-31 00852964 d:Buildings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 00852964 d:PlantMachinery 2022-09-01 2023-08-31 00852964 d:PlantMachinery 2023-08-31 00852964 d:PlantMachinery 2022-08-31 00852964 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 00852964 d:MotorVehicles 2022-09-01 2023-08-31 00852964 d:MotorVehicles 2023-08-31 00852964 d:MotorVehicles 2022-08-31 00852964 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 00852964 d:OfficeEquipment 2022-09-01 2023-08-31 00852964 d:OfficeEquipment 2023-08-31 00852964 d:OfficeEquipment 2022-08-31 00852964 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 00852964 d:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 00852964 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 00852964 d:Goodwill 2023-08-31 00852964 d:Goodwill 2022-08-31 00852964 d:CurrentFinancialInstruments 2023-08-31 00852964 d:CurrentFinancialInstruments 2022-08-31 00852964 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 00852964 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 00852964 d:ShareCapital 2023-08-31 00852964 d:ShareCapital 2022-08-31 00852964 d:CapitalRedemptionReserve 2022-09-01 2023-08-31 00852964 d:OtherMiscellaneousReserve 2023-08-31 00852964 d:OtherMiscellaneousReserve 2022-08-31 00852964 d:RetainedEarningsAccumulatedLosses 2023-08-31 00852964 d:RetainedEarningsAccumulatedLosses 2022-08-31 00852964 c:OrdinaryShareClass1 2022-09-01 2023-08-31 00852964 c:OrdinaryShareClass1 2023-08-31 00852964 c:OrdinaryShareClass1 2022-08-31 00852964 c:FRS102 2022-09-01 2023-08-31 00852964 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 00852964 c:AbridgedAccounts 2022-09-01 2023-08-31 00852964 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 00852964 2 2022-09-01 2023-08-31 00852964 d:Goodwill d:OwnedIntangibleAssets 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 00852964










WILLIAM GOSNEY LIMITED

Unaudited
Financial statements
Information for filing with the registrar
For the year ended 31 August 2023

 
WILLIAM GOSNEY LIMITED
 

Company Information


Directors
P W Gosney 
S M Gosney 




Company secretary
S M Gosney



Registered number
00852964



Registered office
Storrs Farm
Storrs Lane

Storrs

Sheffield

South Yorkshire

S6 6GY





 
WILLIAM GOSNEY LIMITED
Registered number: 00852964

Balance sheet
As at 31 August 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,127
2,720

Tangible assets
 5 
1,411,598
1,411,963

  
1,413,725
1,414,683

Current assets
  

Stocks
  
12,604
4,050

Debtors
  
13,772
63,973

Cash at bank and in hand
  
173,120
147,470

  
199,496
215,493

Creditors: amounts falling due within one year
 7 
(17,412)
(48,506)

Net current assets
  
 
 
182,084
 
 
166,987

Total assets less current liabilities
  
1,595,809
1,581,670

Provisions for liabilities
  
(2,792)
(2,861)

Net assets
  
1,593,017
1,578,809


Capital and reserves
  

Called up share capital 
 8 
3,226
3,226

Capital redemption reserve
  
1,600
1,600

Profit and loss account
 9 
1,588,191
1,573,983

  
1,593,017
1,578,809


Page 1

 
WILLIAM GOSNEY LIMITED
Registered number: 00852964

Balance sheet (continued)
As at 31 August 2023

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 comprehensive income 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 11 December 2023.






P W Gosney
S M Gosney
Director
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
WILLIAM GOSNEY LIMITED
 

 
Notes to the financial statements
For the year ended 31 August 2023

1.


General information

William Gosney Limited is a private company limited by shares incorporated in England within the United Kingdom.  The address of the registered office is given in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company.

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Current and deferred taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods.  It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods.  It is recognised in respect of all timing differences, with certain exceptions.  Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements.  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 balance sheet date that are expected to apply to the reversal of timing differences.  Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

 
2.5

Intangible assets

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.
Amortisation is provided on the following bases:
Single farm payment entitlements - 5 years

Page 3

 
WILLIAM GOSNEY LIMITED
 

 
Notes to the financial statements
For the year ended 31 August 2023

2.Accounting policies (continued)

 
2.6

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.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and equipment
-
12.5%
Motor vehicles
-
20.0%
Computers
-
33.3%
Excavators
-
20.0%

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

Page 4

 
WILLIAM GOSNEY LIMITED
 

 
Notes to the financial statements
For the year ended 31 August 2023

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 -3).

Page 5

 
WILLIAM GOSNEY LIMITED
 

 
Notes to the financial statements
For the year ended 31 August 2023

4.


Intangible assets




Single payment scheme entitlements
Total

£
£



Cost


At 1 September 2022
26,598
26,598



At 31 August 2023

26,598
26,598



Amortisation


At 1 September 2022
23,878
23,878


Charge for the year on owned assets
593
593



At 31 August 2023

24,471
24,471



Net book value



At 31 August 2023
2,127
2,127



At 31 August 2022
2,720
2,720



Page 6

 
WILLIAM GOSNEY LIMITED
 

 
Notes to the financial statements
For the year ended 31 August 2023

5.


Tangible Fixed Assets





Freehold property
Excavators
Motor vehicles
Plant & equipment
Total

£
£
£
£
£



Cost or valuation


At 1 September 2022
1,396,903
163,150
16,215
38,435
1,614,703


Additions
-
-
-
3,666
3,666


Disposals
-
-
-
(1,400)
(1,400)



At 31 August 2023

1,396,903
163,150
16,215
40,701
1,616,969



Depreciation


At 1 September 2022
-
163,120
15,995
23,625
202,740


Charge for the year on owned assets
-
-
220
3,806
4,026


Disposals
-
-
-
(1,395)
(1,395)



At 31 August 2023

-
163,120
16,215
26,036
205,371



Net book value



At 31 August 2023
1,396,903
30
-
14,665
1,411,598



At 31 August 2022
1,396,903
30
220
14,810
1,411,963


6.


Debtors

2023
2022
£
£


Trade debtors
9,703
58,201

Other debtors
-
1,650

Prepayments and accrued income
4,069
4,122

13,772
63,973


Page 7

 
WILLIAM GOSNEY LIMITED
 

 
Notes to the financial statements
For the year ended 31 August 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
4,223
26,533

Taxation and social security
5,702
4,606

Other creditors
4,304
14,186

Accruals and deferred income
3,183
3,181

17,412
48,506



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



3,226 (2022 -3,226) Ordinary shares of £1.00 each
3,226
3,226



9.


Reserves

Capital redemption reserve

The balance on the Capital Redemption Reserve of £1,600 arose during the year ended 31 August 2021 due to the company re-purchasing 1,600 ordinary shares back from shareholders. The shares had a nominal value of £1 and were consequently cancelled.


Page 8