Registered number
08062344
GO6 LTD
Filleted Accounts
31 May 2023
GO6 LTD
Registered number: 08062344
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 30,899 35,222
Current assets
Debtors 5 22,447 18,481
Cash at bank and in hand 377,773 290,329
400,220 308,810
Creditors: amounts falling due within one year 6 (53,004) (41,626)
Net current assets 347,216 267,184
Total assets less current liabilities 378,115 302,406
Creditors: amounts falling due after more than one year 7 (19,165) (22,068)
Net assets 358,950 280,338
Capital and reserves
Called up share capital 1 1
Profit and loss account 358,949 280,337
Shareholder's funds 358,950 280,338
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 his 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.
Wayne Philips
Director
Approved by the board on 11 January 2024
GO6 LTD
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 evenly over its expected useful life, as follows:
Office fittings and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 Taxation 2023 2022
£ £
UK corporation tax 34,143 24,861
Prior year adjustment - (12,402)
34,143 12,459
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
4 Tangible fixed assets
Office fittings & equipment Motor vehicles Total
£ £ £
Cost
At 1 June 2022 13,657 38,795 52,452
Additions 1,298 - 1,298
At 31 May 2023 14,955 38,795 53,750
Depreciation
At 1 June 2022 13,656 3,574 17,230
Charge for the year 259 5,362 5,621
At 31 May 2023 13,915 8,936 22,851
Net book value
At 31 May 2023 1,040 29,859 30,899
At 31 May 2022 1 35,221 35,222
5 Debtors 2023 2022
£ £
Trade debtors 22,222 18,481
Other debtors 225 -
22,447 18,481
6 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 4,945 4,945
Corporation tax 34,143 24,861
Other taxes and social security costs 9,537 7,908
Other creditors 4,379 3,912
53,004 41,626
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 19,165 22,068
8 Other information
GO6 LTD is a private company limited by shares and incorporated in England. Its registered office is:
International House
64 Nile Street
London
N1 7SR
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