Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-312022-09-01falseCommunity Pharmacy77truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06915786 2022-09-01 2023-08-31 06915786 2021-09-01 2022-08-31 06915786 2023-08-31 06915786 2022-08-31 06915786 c:Director1 2022-09-01 2023-08-31 06915786 d:Buildings 2023-08-31 06915786 d:Buildings 2022-08-31 06915786 d:Buildings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06915786 d:Buildings d:ShortLeaseholdAssets 2022-09-01 2023-08-31 06915786 d:PlantMachinery 2022-09-01 2023-08-31 06915786 d:PlantMachinery 2023-08-31 06915786 d:PlantMachinery 2022-08-31 06915786 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06915786 d:FurnitureFittings 2022-09-01 2023-08-31 06915786 d:FurnitureFittings 2023-08-31 06915786 d:FurnitureFittings 2022-08-31 06915786 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06915786 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06915786 d:Goodwill 2022-09-01 2023-08-31 06915786 d:Goodwill 2023-08-31 06915786 d:Goodwill 2022-08-31 06915786 d:CurrentFinancialInstruments 2023-08-31 06915786 d:CurrentFinancialInstruments 2022-08-31 06915786 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 06915786 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 06915786 d:UKTax 2022-09-01 2023-08-31 06915786 d:UKTax 2021-09-01 2022-08-31 06915786 d:ShareCapital 2023-08-31 06915786 d:ShareCapital 2022-08-31 06915786 d:OtherMiscellaneousReserve 2023-08-31 06915786 d:OtherMiscellaneousReserve 2022-08-31 06915786 d:RetainedEarningsAccumulatedLosses 2023-08-31 06915786 d:RetainedEarningsAccumulatedLosses 2022-08-31 06915786 c:OrdinaryShareClass2 2022-09-01 2023-08-31 06915786 c:OrdinaryShareClass2 2023-08-31 06915786 c:OrdinaryShareClass2 2022-08-31 06915786 c:OrdinaryShareClass3 2022-09-01 2023-08-31 06915786 c:OrdinaryShareClass3 2023-08-31 06915786 c:OrdinaryShareClass3 2022-08-31 06915786 c:FRS102 2022-09-01 2023-08-31 06915786 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 06915786 c:FullAccounts 2022-09-01 2023-08-31 06915786 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 06915786 2 2022-09-01 2023-08-31 06915786 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 06915786 d:AcceleratedTaxDepreciationDeferredTax 2022-08-31 06915786 e:PoundSterling 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06915786










GOULDS UK LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
GOULDS UK LTD
REGISTERED NUMBER: 06915786

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 7 
145,113
177,911

  
145,113
177,911

Current assets
  

Stocks
  
64,531
62,601

Debtors: amounts falling due within one year
 8 
139,882
183,315

Cash at bank and in hand
 9 
501,466
291,823

  
705,879
537,739

Creditors: amounts falling due within one year
 10 
(251,349)
(190,478)

Net current assets
  
 
 
454,530
 
 
347,261

Total assets less current liabilities
  
599,643
525,172

Provisions for liabilities
  

Deferred tax
 11 
(20,209)
(25,327)

  
 
 
(20,209)
 
 
(25,327)

Net assets
  
579,434
499,845


Capital and reserves
  

Called up share capital 
 12 
70
70

Other reserves
  
30
30

Profit and loss account
  
579,334
499,745

  
579,434
499,845


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
Page 1

 
GOULDS UK LTD
REGISTERED NUMBER: 06915786
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 February 2024.




Mr Jay Rayani
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
GOULDS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Goulds UK Limited is a private company, limited by share capital, incorporated in England and Wales under registration number 06915786. The address of the registered office of the company is 37 Warren Street, London, W1T 6AD. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
GOULDS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
GOULDS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Goodwill
-
10%
straight line



 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Leasehold improvements
-
10%
straight line
Plant and machinery
-
25%
reducing balance
Fixtures, fittings and equipment
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
GOULDS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. 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.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. 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.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 6

 
GOULDS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
49,708
23,876


49,708
23,876


Total current tax
49,708
23,876

Deferred tax


Origination and reversal of timing differences
(5,118)
(6,508)

Total deferred tax
(5,118)
(6,508)


Taxation on profit on ordinary activities
44,590
17,368

Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of  19% (2022 - 19%).



Factors that may affect future tax charges

There were no factors that may affect future tax charges.




5.


Dividends

2023
2022
£
£


Ordinary A Shares
37,500
42,150


Ordinary B Shares
37,400
37,150

74,900
79,300

Page 7

 
GOULDS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Intangible assets



Goodwill

£



Cost


At 1 September 2022
859,803



At 31 August 2023

859,803



Amortisation


At 1 September 2022
859,803



At 31 August 2023

859,803



Net book value



At 31 August 2023
-




7.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Fixtures, fittings and equipment
Total

£
£
£
£



Cost or valuation


At 1 September 2022
56,493
128,390
121,949
306,832



At 31 August 2023

56,493
128,390
121,949
306,832



Depreciation


At 1 September 2022
13,655
59,501
55,764
128,920


Charge for the year on owned assets
5,649
17,222
9,928
32,799



At 31 August 2023

19,304
76,723
65,692
161,719



Net book value



At 31 August 2023
37,189
51,667
56,257
145,113

Page 8

 
GOULDS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Debtors

2023
2022
£
£


Trade debtors
93,379
139,784

VAT repayable
15,792
11,520

Prepayments
2,892
4,192

S.455 tax recoverable
20,319
20,319

Deposit
7,500
7,500

139,882
183,315





9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
501,466
291,823

501,466
291,823



10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
187,413
164,017

Corporation tax
49,670
23,876

Directors' loan account
13,736
322

Other taxation and social security
-
856

Pension payable
530
650

Other creditors
-
757

251,349
190,478



11.


Deferred taxation

Page 9

 
GOULDS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
 
11.Deferred taxation (continued)




2023


£






At beginning of year
(25,327)


Charged to profit or loss
5,118



At end of year
(20,209)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(20,209)
(25,327)

(20,209)
(25,327)


12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



45 (2022 - 45) A Ordinary shares of £1.00 each
45
45
25 (2022 - 25) B Ordinary shares of £1.00 each
25
25

70

70



13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £26,376 (2022 - £126,724).


14.


Controlling party

The company is under the control of the directors, Mr Jay Rayani (64% share) and his spouse, Mrs Rupa Rayani (36% share), by virtue of fact that between them, they own 100% of the issued share capital of the company. 

 
Page 10