Caseware UK (AP4) 2023.0.135 2023.0.135 true2022-04-01falseNo description of principal activity1310trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04943538 2022-04-01 2023-03-31 04943538 2021-04-01 2022-03-31 04943538 2023-03-31 04943538 2022-03-31 04943538 2021-04-01 04943538 1 2022-04-01 2023-03-31 04943538 1 2021-04-01 2022-03-31 04943538 2 2022-04-01 2023-03-31 04943538 2 2021-04-01 2022-03-31 04943538 d:Director1 2022-04-01 2023-03-31 04943538 e:Buildings 2022-04-01 2023-03-31 04943538 e:Buildings 2023-03-31 04943538 e:Buildings 2022-03-31 04943538 e:Buildings e:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04943538 e:Buildings e:LongLeaseholdAssets 2022-04-01 2023-03-31 04943538 e:Buildings e:LongLeaseholdAssets 2023-03-31 04943538 e:Buildings e:LongLeaseholdAssets 2022-03-31 04943538 e:PlantMachinery 2022-04-01 2023-03-31 04943538 e:PlantMachinery 2023-03-31 04943538 e:PlantMachinery 2022-03-31 04943538 e:PlantMachinery e:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04943538 e:MotorVehicles 2022-04-01 2023-03-31 04943538 e:MotorVehicles 2023-03-31 04943538 e:MotorVehicles 2022-03-31 04943538 e:MotorVehicles e:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04943538 e:OfficeEquipment 2022-04-01 2023-03-31 04943538 e:OfficeEquipment 2023-03-31 04943538 e:OfficeEquipment 2022-03-31 04943538 e:OfficeEquipment e:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04943538 e:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 04943538 e:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04943538 e:Goodwill 2022-04-01 2023-03-31 04943538 e:Goodwill 2023-03-31 04943538 e:Goodwill 2022-03-31 04943538 e:LeaseholdInvestmentProperty 2022-04-01 2023-03-31 04943538 e:LeaseholdInvestmentProperty 2023-03-31 04943538 e:LeaseholdInvestmentProperty 2022-03-31 04943538 e:LeaseholdInvestmentProperty 2 2022-04-01 2023-03-31 04943538 e:CurrentFinancialInstruments 2023-03-31 04943538 e:CurrentFinancialInstruments 2022-03-31 04943538 e:Non-currentFinancialInstruments 2023-03-31 04943538 e:Non-currentFinancialInstruments 2022-03-31 04943538 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-31 04943538 e:CurrentFinancialInstruments e:WithinOneYear 2022-03-31 04943538 e:Non-currentFinancialInstruments e:AfterOneYear 2023-03-31 04943538 e:Non-currentFinancialInstruments e:AfterOneYear 2022-03-31 04943538 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-03-31 04943538 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2022-03-31 04943538 e:ShareCapital 2023-03-31 04943538 e:ShareCapital 2022-03-31 04943538 e:ShareCapital 2021-04-01 04943538 e:SharePremium 2023-03-31 04943538 e:SharePremium 1 2022-04-01 2023-03-31 04943538 e:SharePremium 2 2022-04-01 2023-03-31 04943538 e:SharePremium 2022-03-31 04943538 e:SharePremium 2021-04-01 04943538 e:SharePremium 1 2021-04-01 2022-03-31 04943538 e:SharePremium 2 2021-04-01 2022-03-31 04943538 e:InvestmentPropertiesRevaluationReserve 2023-03-31 04943538 e:InvestmentPropertiesRevaluationReserve 1 2022-04-01 2023-03-31 04943538 e:InvestmentPropertiesRevaluationReserve 2 2022-04-01 2023-03-31 04943538 e:InvestmentPropertiesRevaluationReserve 2022-03-31 04943538 e:InvestmentPropertiesRevaluationReserve 2021-04-01 04943538 e:InvestmentPropertiesRevaluationReserve 1 2021-04-01 2022-03-31 04943538 e:InvestmentPropertiesRevaluationReserve 2 2021-04-01 2022-03-31 04943538 e:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 04943538 e:RetainedEarningsAccumulatedLosses 2023-03-31 04943538 e:RetainedEarningsAccumulatedLosses 1 2022-04-01 2023-03-31 04943538 e:RetainedEarningsAccumulatedLosses 2 2022-04-01 2023-03-31 04943538 e:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 04943538 e:RetainedEarningsAccumulatedLosses 2022-03-31 04943538 e:RetainedEarningsAccumulatedLosses 2021-04-01 04943538 e:RetainedEarningsAccumulatedLosses 1 2021-04-01 2022-03-31 04943538 e:RetainedEarningsAccumulatedLosses 2 2021-04-01 2022-03-31 04943538 d:FRS102 2022-04-01 2023-03-31 04943538 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04943538 d:FullAccounts 2022-04-01 2023-03-31 04943538 d:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04943538 e:AcceleratedTaxDepreciationDeferredTax 2023-03-31 04943538 e:AcceleratedTaxDepreciationDeferredTax 2022-03-31 04943538 2 2022-04-01 2023-03-31 04943538 4 2022-04-01 2023-03-31 04943538 5 2022-04-01 2023-03-31 04943538 e:Goodwill e:OwnedIntangibleAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure


















Goanna Makay Limited























Unaudited

Financial statements



For the year ended 31 March 2023



Registered number: 04943538

 
Goanna Makay Limited - Registered number: 04943538

Statement of financial position
As at 31 March 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Intangible assets
 4 
113,006
126,172

Tangible assets
 5 
2,141,233
2,100,027

Investment property
 6 
7,445,367
6,778,885

  
9,699,606
9,005,084

Current assets
  

Stocks
  
2,000
2,000

Debtors: amounts falling due within one year
 7 
48,810
75,654

Cash at bank and in hand
  
350,930
453,542

  
401,740
531,196

Creditors: amounts falling due within one year
 8 
(316,674)
(120,314)

Net current assets
  
 
 
85,066
 
 
410,882

Total assets less current liabilities
  
9,784,672
9,415,966

Creditors: amounts falling due after more than one year
 9 
(3,631,530)
(3,060,000)

Provisions for liabilities
  

Deferred tax
 11 
(479,734)
(474,592)

  
 
 
(479,734)
 
 
(474,592)

Net assets
  
5,673,408
5,881,374


Capital and reserves
  

Share capital
  
649,780
649,780

Share premium account
  
846,000
846,000

Profit and loss account - non distributable
  
2,797,534
2,765,329

Profit and loss account
  
1,380,094
1,620,265

  
5,673,408
5,881,374

Page 1

 
Goanna Makay Limited - Registered number: 04943538

Statement of financial position (continued)
As at 31 March 2023

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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
A Wells-Baker
Director

Date: 15 March 2024

The notes on pages 4 to 12 form part of these financial statements.
Page 2

 
Goanna Makay Limited


Statement of changes in equity
For the year ended 31 March 2023


Share capital
Share premium account
Profit and loss account - non-distributable
Profit and loss account
Total equity

£
£
£
£
£


At 1 April 2021
649,780
846,000
2,699,407
1,763,917
5,959,104


Comprehensive income for the year

Loss for the year

-
-
-
(19,105)
(19,105)

Investment property revaluation movement on gains
-
-
55,397
(55,397)
-

Deferred tax on investment property revaluation movement
-
-
10,525
(10,525)
-

Dividends declared
-
-
-
(58,625)
(58,625)



At 1 April 2022
649,780
846,000
2,765,329
1,620,265
5,881,374


Comprehensive income for the year

Loss for the year

-
-
-
(116,006)
(116,006)

Investment property revaluation movement on gains
-
-
27,063
(27,063)
-

Deferred tax on investment property revaluation movement
-
-
5,142
(5,142)
-

Dividends declared
-
-
-
(91,960)
(91,960)


At 31 March 2023
649,780
846,000
2,797,534
1,380,094
5,673,408


The notes on pages 4 to 12 form part of these financial statements.
Page 3

 
Goanna Makay Limited

 
Notes to the financial statements
For the year ended 31 March 2023

1.


General information

Goanna Makay Limited is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business is Sunflower Grove Farm, Frostenden, Beccles, Suffolk, NR34 8BS.      The company registration number is 04943538.

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 Republic of Ireland' ('FRS 102') and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.3

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

Page 4

 
Goanna Makay Limited

Notes to the financial statements
For the year ended 31 March 2023

2.Accounting policies (continued)

 
2.6

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 the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

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 reporting 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 reporting 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 reporting date.

 
2.8

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

Page 5

 
Goanna Makay Limited

Notes to the financial statements
For the year ended 31 March 2023

2.Accounting policies (continued)

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other 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.

 
2.10

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.
At each reporting date the company assesses whether there is any indication of impairment. If such
indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less
costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the
recoverable amount.
The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item
when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the
company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to
the Statement of comprehensive income during the period in which they are incurred.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
reducing balance
Buildings
-
5%
straight line

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 the Statement of comprehensive income.
Freehold land is not depreciated.

Page 6

 
Goanna Makay Limited

Notes to the financial statements
For the year ended 31 March 2023

2.Accounting policies (continued)

 
2.11

Impairment of fixed assets

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine
whether there is any indication that the assets are impaired. Where there is any indication that an asset may
be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is
tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount
exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less
costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest
levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been
previously impaired are reviewed at each reporting date to assess whether there is any indication that the
impairment losses recognised in prior periods may no longer exist or may have decreased.

  
2.12

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.13

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 weighted average basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting 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 the Statement of comprehensive income.

 
2.14

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.

 
2.15

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.16

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.

 
2.17

Financial instruments

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

Page 7

 
Goanna Makay Limited

Notes to the financial statements
For the year ended 31 March 2023

2.Accounting policies (continued)

 
2.18

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 13 (2022 - 10).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
131,658



At 31 March 2023

131,658



Amortisation


At 1 April 2022
5,486


Charge for the year
13,166



At 31 March 2023

18,652



Net book value



At 31 March 2023
113,006



At 31 March 2022
126,172



Page 8

 
Goanna Makay Limited

 
Notes to the financial statements
For the year ended 31 March 2023

5.


Tangible fixed assets





Freehold property
Buildings
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2022
1,896,415
276,435
238,033
32,584
9,589
2,453,056


Additions
-
115,229
22,983
4,583
694
143,489


Disposals
-
-
(969)
-
-
(969)


Revaluations
(14,574)
-
-
-
-
(14,574)



At 31 March 2023

1,881,841
391,664
260,047
37,167
10,283
2,581,002



Depreciation


At 1 April 2022
192,732
30,945
103,110
21,985
4,257
353,029


Charge for the year
28,628
17,465
36,123
3,032
1,492
86,740



At 31 March 2023

221,360
48,410
139,233
25,017
5,749
439,769



Net book value



At 31 March 2023
1,660,481
343,254
120,814
12,150
4,534
2,141,233



At 31 March 2022
1,703,683
245,490
134,923
10,599
5,332
2,100,027

Page 9

 
Goanna Makay Limited

 
Notes to the financial statements
For the year ended 31 March 2023

6.


Investment property


Long term leasehold investment property

£



Valuation


At 1 April 2022
6,778,885


Additions at cost
639,419


Surplus on revaluation
27,063



At 31 March 2023
7,445,367

The 2023 valuations were made by the directors, on an open market value for existing use basis. The directors have concluded that there is no material movement in the valuation of all investment properties during the year. 

 





7.


Debtors

2023
2022
£
£


Amounts owed by joint ventures and associated undertakings
32,056
30,680

Other debtors
13,648
41,612

Prepayments and accrued income
3,106
3,362

48,810
75,654



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
85,903
34,195

Other taxation and social security
159,935
21,107

Other creditors
20,276
17,427

Accruals and deferred income
50,560
47,585

316,674
120,314


Page 10

 
Goanna Makay Limited

 
Notes to the financial statements
For the year ended 31 March 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
3,631,530
3,060,000

3,631,530
3,060,000



10.


Loans



2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
3,631,530
3,060,000

3,631,530
3,060,000

3,631,530
3,060,000



11.


Deferred taxation




2023


£






At beginning of year
(474,592)


Charged to profit or loss
(5,142)



At end of year
(479,734)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(479,734)
(474,592)

(479,734)
(474,592)

Page 11

 
Goanna Makay Limited

 
Notes to the financial statements
For the year ended 31 March 2023

12.


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 £2,694 (2022: £1,885). 


13.


Related party transactions

During the year ended 31 March 2023, the directors made net advances to the company of £105,924 (2022: £12,480) and the amount repaid by the company was £109,464 (2022: £4,175). As at 31 March 2023, the amount owed from the directors to the company was £3,364 (2022: £176 owed from the company to the directors). This loan was interest free and repayable on demand.


Page 12