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REGISTERED NUMBER: 11362870 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

GOOD PENNY LIMITED

GOOD PENNY LIMITED (REGISTERED NUMBER: 11362870)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GOOD PENNY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mr H Funaki





REGISTERED OFFICE: 55 Loudoun Road
London
NW8 0DL





REGISTERED NUMBER: 11362870 (England and Wales)





ACCOUNTANTS: MGR SD Limited
Chartered Accountants
55 Loudoun Road
London
NW8 0DL

GOOD PENNY LIMITED (REGISTERED NUMBER: 11362870)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 15,118 20,157
Investments 5 210,314 210,314
225,432 230,471

CURRENT ASSETS
Debtors 6 - 6,543
Cash at bank 11,627 37,825
11,627 44,368
CREDITORS
Amounts falling due within one year 7 (166,590 ) (95,759 )
NET CURRENT LIABILITIES (154,963 ) (51,391 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,469

179,080

CREDITORS
Amounts falling due after more than one
year

8

(23,519

)

(33,518

)

PROVISIONS FOR LIABILITIES 9 (2,872 ) (3,830 )
NET ASSETS 44,078 141,732

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 43,978 141,632
SHAREHOLDERS' FUNDS 44,078 141,732

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

GOOD PENNY LIMITED (REGISTERED NUMBER: 11362870)

BALANCE SHEET - continued
31 MAY 2023


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:





Mr H Funaki - Director


GOOD PENNY LIMITED (REGISTERED NUMBER: 11362870)

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


1. STATUTORY INFORMATION

Good Penny Limited is a private company, limited by shares , registered in England and Wales. 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.

At the balance sheet date there are net current liabilities of £154,963 (2022: of £51,391)

The director has given assurances that he will support the company to meet its day to day liabilities as and when they fall due.

Therefore in the opinion of the director it is appropriate that the companys financial statements should be prepared on a going concern basis.

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.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% 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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

GOOD PENNY LIMITED (REGISTERED NUMBER: 11362870)

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


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 3,127 32,201 35,328
DEPRECIATION
At 1 June 2022 782 14,389 15,171
Charge for year 586 4,453 5,039
At 31 May 2023 1,368 18,842 20,210
NET BOOK VALUE
At 31 May 2023 1,759 13,359 15,118
At 31 May 2022 2,345 17,812 20,157

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.5.23 31.5.22
£    £   
Boss Startup SCI 95,770 95,770
Boss Capital Partners 114,544 114,544
210,314 210,314

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors - 6,543

GOOD PENNY LIMITED (REGISTERED NUMBER: 11362870)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 10,648 10,648
Taxation and social security 79,235 78,931
Other creditors 76,707 6,180
166,590 95,759

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 23,519 33,518

9. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax
Accelerated capital allowances 2,872 3,830

Deferred
tax
£   
Balance at 1 June 2022 3,830
Credit to Income Statement during year (958 )
Balance at 31 May 2023 2,872

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100

11. PENSION COMMITMENTS

The company makes payments to separate defined contribution pension schemes on behalf of employees. Amounts charged to the profit and loss account were £173 (2022: £173). There were no outstanding contributions at the balance sheet date.

GOOD PENNY LIMITED (REGISTERED NUMBER: 11362870)

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


12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
Mr H Funaki
Balance outstanding at start of year 6,543 37,677
Amounts advanced 93,954 394,586
Amounts repaid (100,497 ) (425,720 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 6,543