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REGISTERED NUMBER: 04871082 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

TERENCE GODDARD ASSOCIATES LIMITED

TERENCE GODDARD ASSOCIATES LIMITED (REGISTERED NUMBER: 04871082)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


TERENCE GODDARD ASSOCIATES LIMITED (REGISTERED NUMBER: 04871082)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 28,765 31,283
Investments 6 216,931 324,048
Investment property 7 1,760,001 1,370,001
2,005,697 1,725,332

CURRENT ASSETS
Debtors 8 34,841 37,807
Cash at bank 1,111,435 1,638,101
1,146,276 1,675,908
CREDITORS
Amounts falling due within one year 9 14,007 70,065
NET CURRENT ASSETS 1,132,269 1,605,843
TOTAL ASSETS LESS CURRENT LIABILITIES 3,137,966 3,331,175

PROVISIONS FOR LIABILITIES 10 18,069 120,795
NET ASSETS 3,119,897 3,210,380

CAPITAL AND RESERVES
Called up share capital 11 100 2
Revaluation reserve 429,365 -
Fair value reserve 38,773 -
Retained earnings 2,651,659 3,210,378
SHAREHOLDERS' FUNDS 3,119,897 3,210,380

TERENCE GODDARD ASSOCIATES LIMITED (REGISTERED NUMBER: 04871082)

BALANCE SHEET - continued
31 AUGUST 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 9 April 2024 and were signed by:





T E J Goddard - Director


TERENCE GODDARD ASSOCIATES LIMITED (REGISTERED NUMBER: 04871082)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Terence Goddard Associates Limited is a private limited company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered Number: 07715816

Registered office:
34 St Peters Street
Stamford
Lincolnshire
PE9 2PF

The presentation currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures & office equipment - 33% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

Investment property
Investment properties are revalued annually by the director on an open market basis. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss. Deferred tax is provided for against the fair value movements.

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.


TERENCE GODDARD ASSOCIATES LIMITED (REGISTERED NUMBER: 04871082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


3. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors
Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. 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.

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

TERENCE GODDARD ASSOCIATES LIMITED (REGISTERED NUMBER: 04871082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


5. TANGIBLE FIXED ASSETS
Fixtures
& office Motor
equipment vehicles Totals
£    £    £   
COST
At 1 September 2022 30,266 42,050 72,316
Additions 3,618 - 3,618
At 31 August 2023 33,884 42,050 75,934
DEPRECIATION
At 1 September 2022 17,087 23,946 41,033
Charge for year 2,515 3,621 6,136
At 31 August 2023 19,602 27,567 47,169
NET BOOK VALUE
At 31 August 2023 14,282 14,483 28,765
At 31 August 2022 13,179 18,104 31,283

6. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 September 2022 324,048
Additions 10,668
Revaluations (117,785 )
At 31 August 2023 216,931
NET BOOK VALUE
At 31 August 2023 216,931
At 31 August 2022 324,048

Cost or valuation at 31 August 2023 is represented by:

Listed
investments
£   
Valuation in 2018 60,693
Valuation in 2019 (17,122 )
Valuation in 2020 25,657
Valuation in 2021 141,305
Valuation in 2022 (53,975 )
Valuation in 2023 (117,785 )
Cost 178,158
216,931

TERENCE GODDARD ASSOCIATES LIMITED (REGISTERED NUMBER: 04871082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 1,370,001
Additions 391,136
Revaluations (1,136 )
At 31 August 2023 1,760,001
NET BOOK VALUE
At 31 August 2023 1,760,001
At 31 August 2022 1,370,001

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2017 120,501
Valuation in 2018 110,000
Valuation in 2019 40,000
Valuation in 2020 45,000
Valuation in 2021 30,000
Valuation in 2022 85,000
Valuation in 2023 (1,136 )
Cost 1,330,636
1,760,001

If the investments properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,330,636 939,500

The investment properties were valued on an open market basis on 31 August 2023 by the director of the company .

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 34,841 37,807

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,986 3,793
Corporation tax 2,807 58,301
Directors' current accounts 4,693 4,303
Accruals and deferred income 2,521 3,668
14,007 70,065

TERENCE GODDARD ASSOCIATES LIMITED (REGISTERED NUMBER: 04871082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances
& FV adjustments 18,069 120,795
18,069 120,795

Deferred
tax
£   
Balance at 1 September 2022 120,795
Accelerated capital allowances (478 )
Fair value adjustments (102,248 )
Balance at 31 August 2023 18,069

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1.00 100 2

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £95,000 were paid to the director .

At the year end the director was owed £4,693 (2022 - £4,303). This loan is unsecured, interest free and repayable on demand.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is T E J Goddard.