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REGISTERED NUMBER: 12962144 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

GOL (MK) Limited

GOL (MK) Limited (Registered number: 12962144)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GOL (MK) Limited

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: B Thakrar
D Yabsley





REGISTERED OFFICE: 22 Warmington Gardens
Downhead Park
Milton Keynes
MK15 9BP





REGISTERED NUMBER: 12962144 (England and Wales)





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

GOL (MK) Limited (Registered number: 12962144)

Balance Sheet
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,716 1,791
Investment property 5 865,033 865,033
866,749 866,824

CURRENT ASSETS
Debtors 6 308 483
Cash at bank 26,073 43,402
26,381 43,885
CREDITORS
Amounts falling due within one year 7 689,142 766,919
NET CURRENT LIABILITIES (662,761 ) (723,034 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

203,988

143,790

PROVISIONS FOR LIABILITIES 19,353 19,340
NET ASSETS 184,635 124,450

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 81,000 81,000
Retained earnings 103,535 43,350
SHAREHOLDERS' FUNDS 184,635 124,450

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GOL (MK) Limited (Registered number: 12962144)

Balance Sheet - continued
31 OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:




B Thakrar - Director



D Yabsley - Director


GOL (MK) Limited (Registered number: 12962144)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

GOL (MK) 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 as modified by the revaluation of certain assets.

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.
Computer equipment - 3 years

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

GOL (MK) Limited (Registered number: 12962144)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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


GOL (MK) Limited (Registered number: 12962144)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 2,015
Additions 783
At 31 October 2023 2,798
DEPRECIATION
At 1 November 2022 224
Charge for year 858
At 31 October 2023 1,082
NET BOOK VALUE
At 31 October 2023 1,716
At 31 October 2022 1,791

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 865,033
NET BOOK VALUE
At 31 October 2023 865,033
At 31 October 2022 865,033

GOL (MK) Limited (Registered number: 12962144)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. INVESTMENT PROPERTY - continued

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2021 100,000
Cost 765,033
865,033

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 308 483

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 17,240 7,660
Other creditors 671,902 759,259
689,142 766,919

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 2,557 3,835
Between one and five years - 1,918
2,557 5,753

9. RESERVES
Fair
value
reserve
£   
At 1 November 2022
and 31 October 2023 81,000