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REGISTERED NUMBER: 06039744 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Julian Godwin Limited

Julian Godwin Limited (Registered number: 06039744)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 5


Julian Godwin Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: J R Godwin





SECRETARY: D Godwin





REGISTERED OFFICE: Foxley Farm
Mamble
Kidderminster
Worcestershire
DY14 9JA





REGISTERED NUMBER: 06039744 (England and Wales)





ACCOUNTANTS: Taylor Hobbs
Cherry Tree Barn
Walcot Lane
Drakes Broughton
Pershore
Worcestershire
WR10 2AL

Julian Godwin Limited (Registered number: 06039744)

Report of the Director
for the Year Ended 31 March 2023

The director presents his report with the financial statements of the company for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of farming and trading in farm supplies.

DIRECTOR
J R Godwin held office during the whole of the period from 1 April 2022 to the date of this report.

DIRECTOR'S RESPONSIBILITIES STATEMENT
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





J R Godwin - Director


13 February 2024

Julian Godwin Limited (Registered number: 06039744)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 442,122 442,788

CURRENT ASSETS
Stocks 226,848 217,707
Debtors 5 244,942 295,322
Cash at bank 23,785 3,906
495,575 516,935
CREDITORS
Amounts falling due within one year 6 552,237 556,118
NET CURRENT LIABILITIES (56,662 ) (39,183 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

385,460

403,605

CREDITORS
Amounts falling due after more than one year 7 (132,232 ) (159,095 )

PROVISIONS FOR LIABILITIES (48,897 ) (50,165 )
NET ASSETS 204,331 194,345

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 204,329 194,343
SHAREHOLDERS' FUNDS 204,331 194,345

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

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

Julian Godwin Limited (Registered number: 06039744)

Balance Sheet - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 February 2024 and were signed by:





J R Godwin - Director


Julian Godwin Limited (Registered number: 06039744)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Julian Godwin 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.

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.
Plant and machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

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

Julian Godwin Limited (Registered number: 06039744)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land Buildings machinery
£    £    £   
COST
At 1 April 2022 1,752 177,007 377,271
Additions - 4,259 1,325
At 31 March 2023 1,752 181,266 378,596
DEPRECIATION
At 1 April 2022 - - 170,202
Charge for year - - 20,840
At 31 March 2023 - - 191,042
NET BOOK VALUE
At 31 March 2023 1,752 181,266 187,554
At 31 March 2022 1,752 177,007 207,069

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 101,000 1,054 658,084
Additions 38,329 216 44,129
At 31 March 2023 139,329 1,270 702,213
DEPRECIATION
At 1 April 2022 44,284 810 215,296
Charge for year 23,761 194 44,795
At 31 March 2023 68,045 1,004 260,091
NET BOOK VALUE
At 31 March 2023 71,284 266 442,122
At 31 March 2022 56,716 244 442,788

Included within plant and machinery above are assets held under hire purchase contracts with a cost of £142,420 (2022 - £142,420) on which the accumulated depreciation amounted to £45,152 (2022 - £34,344). The cost of assets acquired in the year under hire purchase contracts was £NIL (2022 - £60,000).

Included within motor vehicles above are assets held under hire purchase contracts with a cost of £116,995 (2022 - £81,000) on which the accumulated depreciation amounted to £50,132 (2022 - £27,844). The cost of assets acquired in the year under hire purchase contracts was £35,995 (2022 - £NIL).

Julian Godwin Limited (Registered number: 06039744)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 211,102 269,133
VAT 15,418 18,406
Prepayments 18,422 7,783
244,942 295,322

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 196,583 135,045
Other loans 512 4,512
Hire purchase contracts 29,232 36,666
Trade creditors 306,338 374,128
Purchase reserve account 7,258 -
Tax 5,736 2
Social security and other taxes 125 316
Directors' current accounts 109 437
Accrued expenses 6,344 5,012
552,237 556,118

Included within other loans is a loan which is repayable with no interest charged to the company and no set payment terms.

The Company took out a Bounce Back Loan of £50,000 on 24th May 2020, repayable over a ten year term with a fixed interest rate of 2.5%. There is automatically one year with no repayments or interest and the Business Interruption payment of £1,250, is payable by the government. Included within creditors due within 1 year is an amount of £6,507. Repayments were deferred for 6 months and commenced in December 2021.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 30,366 14,207
Bank loans - 2-5 years 28,521 44,133
Bank loans more 5 yr by instal 45,675 59,510
Hire purchase contracts 27,670 41,245
132,232 159,095

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 45,675 59,510

Julian Godwin Limited (Registered number: 06039744)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The Company took out a Bounce Back Loan of £50,000 on 24th May 2020, repayable over a ten year term with a fixed interest rate of 2.5%. There is automatically one year with no repayments or interest and the Business Interruption payment of £1,250, is payable by the government. Included within creditors due after more than 1 year is an amount of £36,872. Repayments were deferred for 6 months and commenced in December 2021.

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the end of the financial year the company owed the director £109 (2022 - £437).