Company Registration No. 10525309 (England and Wales)
Good Clubs Limited
Unaudited accounts
for the year ended 30 September 2023
Good Clubs Limited
Unaudited accounts
Contents
Good Clubs Limited
Company Information
for the year ended 30 September 2023
Directors
Ben Patten
Daniel Blackman
Orlando Henry Lewis Wigan
Company Number
10525309 (England and Wales)
Registered Office
12-18 Hoxton Street
Hackney
London
N1 6NG
England
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
Good Clubs Limited
Statement of financial position
as at 30 September 2023
Tangible assets
185,996
232,030
Inventories
243,276
379,603
Cash at bank and in hand
14,609
311,542
Creditors: amounts falling due within one year
(434,086)
(581,479)
Net current assets
76,180
175,423
Total assets less current liabilities
262,176
407,453
Creditors: amounts falling due after more than one year
(211,237)
(42,858)
Provisions for liabilities
Other provisions
-
(10,012)
Called up share capital
3
3
Share premium
7,365,921
6,686,099
Capital contribution reserve
287,970
-
Profit and loss account
(7,602,955)
(6,331,519)
Shareholders' funds
50,939
354,583
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2024 and were signed on its behalf by
Ben Patten
Director
Company Registration No. 10525309
Good Clubs Limited
Notes to the Accounts
for the year ended 30 September 2023
Good Clubs Limited is a private company, limited by shares, registered in England and Wales, registration number 10525309. The registered office is 12-18 Hoxton Street, Hackney, London, N1 6NG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight Line at 25%
Fixtures & fittings
Straight Line at 10%
Computer equipment
Straight Line at 33.3%
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Research and Development Tax Credit
During the Financial Year, Good Clubs Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
Good Clubs Limited
Notes to the Accounts
for the year ended 30 September 2023
Critical Accounting Judgements and Key Sources of Estimation Uncertainty
In the application of the Company's accounting policies, which are described above, the directors are required to make judgement, estimates and assumptions about the carrying amounts of the assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.
Critical Judgements in applying the Company's accounting policies
There are no critical accounting judgements in applying the Company's accounting policies.
Key Sources of estimation uncertainty
There are no key assumptions concerning the future, or other key sources of estimation uncertainty at the balance sheet date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2022
238,134
2,728
12,888
253,750
Additions
22,533
-
-
22,533
At 30 September 2023
260,667
2,728
12,888
276,283
At 1 October 2022
12,237
295
9,188
21,720
Charge for the year
2,175
274
66,118
68,567
At 30 September 2023
14,412
569
75,306
90,287
At 30 September 2023
246,255
2,159
(62,418)
185,996
At 30 September 2022
225,897
2,433
3,700
232,030
Amounts falling due within one year
Trade debtors
88,280
6,951
Accrued income and prepayments
127,318
13,964
Other debtors
22,545
22,545
Good Clubs Limited
Notes to the Accounts
for the year ended 30 September 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
71,934
-
Obligations under finance leases and hire purchase contracts
(2,742)
(1,681)
Trade creditors
331,492
390,651
Taxes and social security
-
76,680
Other creditors
1,907
4,578
Loans from directors
29,031
29,031
As at 30 September 2022, Good Clubs limited owed £29,031 (2021: £29,031) in the form of a loan from company director, Ben Patten. The loan attracts a nil rate of interest and is repayable on demand.
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 11 (2022: 19).