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Registration number: 04025336

Golby Aboyne Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Golby Aboyne Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 9

 

Golby Aboyne Limited

Company Information

Director

Mr Stephen George Golby

Company secretary

Mr Nicholas Peter Russell

Registered office

8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

Accountants

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

 

Golby Aboyne Limited

Director's Report for the Year Ended 31 May 2023

The director presents his report and the financial statements for the year ended 31 May 2023.

Director of the company

The director who held office during the year was as follows:

Mr Stephen George Golby

Principal activity

The principal activity of the company is that of chartered surveyors.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through the continued financial support of the director and creditors. The director therefore considers it appropriate to prepare financial statements on a going concern basis. The financial statements do not include any adjustments that would result in the withdrawal of financial support by the company's director and creditors.

Small companies provision statement

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

Approved by the director on 19 February 2024 and signed on its behalf by:

.........................................
Mr Stephen George Golby
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Golby Aboyne Limited
for the Year Ended 31 May 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Golby Aboyne Limited for the year ended 31 May 2023 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Golby Aboyne Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Golby Aboyne Limited and state those matters that we have agreed to state to the Board of Directors of Golby Aboyne Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Golby Aboyne Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Golby Aboyne Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Golby Aboyne Limited. You consider that Golby Aboyne Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Golby Aboyne Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

19 February 2024

 

Golby Aboyne Limited

(Registration number: 04025336)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

749

619

Current assets

 

Debtors

6

1,026

17,862

Creditors: Amounts falling due within one year

7

(77,806)

(51,737)

Net current liabilities

 

(76,780)

(33,875)

Total assets less current liabilities

 

(76,031)

(33,256)

Creditors: Amounts falling due after more than one year

7

(47,009)

(45,729)

Net liabilities

 

(123,040)

(78,985)

Capital and reserves

 

Called up share capital

9

51

51

Retained earnings

(123,091)

(79,036)

Shareholders' deficit

 

(123,040)

(78,985)

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 19 February 2024
 

.........................................
Mr Stephen George Golby
Director

 

Golby Aboyne Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

These financial statements were authorised for issue by the director on 19 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Government grants

The accrual model is adopted for the recognition of grant income received.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance basis

Computer equipment

3 year straight line basis

 

Golby Aboyne Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and loans to related parties.

 

Golby Aboyne Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

3

Staff numbers

The average number of persons employed by the company during the year, was 1 (2022 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

452

301

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2022

12,037

12,037

Additions

583

583

Disposals

(10,017)

(10,017)

At 31 May 2023

2,603

2,603

Depreciation

At 1 June 2022

11,418

11,418

Charge for the year

453

453

Eliminated on disposal

(10,017)

(10,017)

At 31 May 2023

1,854

1,854

Carrying amount

At 31 May 2023

749

749

At 31 May 2022

619

619

6

Debtors

2023
£

2022
£

Prepayments

445

444

Other debtors

581

17,418

1,026

17,862

 

Golby Aboyne Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

50,209

46,849

Trade creditors

 

171

490

Taxation and social security

 

33

977

Other creditors

 

27,393

3,421

 

77,806

51,737

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

47,009

45,729

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

47,009

45,729

2023
£

2022
£

Current loans and borrowings

Bank borrowings

3,616

5,000

Bank overdrafts

46,593

41,849

50,209

46,849

 

Golby Aboyne Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

Ordinary A shares of £1 each

50

50

50

50

 

51

51

51

51

10

Government grants

During the period the company received government grants in support for the pandemic Covid-19.
The amount of grants recognised in the financial statements was £Nil (2022 - £2,897).

11

Related party transactions

Transactions with director

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

Loan to director

9,920

14,884

(46,866)

(22,061)

         
       

 

2022

At 1 June 2021
£

Advances to director
£

Repayments by director
£

At 31 May 2022
£

Loan to director

21,018

20,299

(31,397)

9,920

         
       

 

The loan was interest free up to £10,000 then incurred interest at a rate of 2.25% on balances in excess of £10,000. The loan is repayable on demand.