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Registered Number: 13682882
England and Wales

 

 

 

GOODWOOD PROPERTY & INVESTMENTS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Director Stephen Charles Rice
Registered Number 13682882
Registered Office 60 Willow Crescent
Thorne
Doncaster
England
DN8 4EU
Accountants aa Chartered Accountants
Fenlake House
Fenlake Business Centre
Peterborough
PE1 5BQ
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 October 2023
Principal activities
Principal activity of the company during the financial year was of other letting and operating of own or leased real estate.
Director
The director who served the company throughout the year was as follows:
Stephen Charles Rice
Statement of director's responsibilities
The director is responsible for preparing the directors report and the financial statements in accordance with applicable law and regulation.

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 (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are 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 judgments and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • 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 disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director 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.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
































On behalf of the board.


----------------------------------
Stephen Charles Rice
Director

Date approved: 29 July 2024
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Goodwood Property & Investments Ltd for the year ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Goodwood Property & Investments Ltd for the year ended 31 October 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Goodwood Property & Investments Ltd, as a body, in accordance with the terms of our engagement letter dated 29 July 2024. Our work has been undertaken solely to prepare for your approval the accounts of Goodwood Property & Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Goodwood Property & Investments Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Goodwood Property & Investments Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Goodwood Property & Investments Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Goodwood Property & Investments Ltd. You consider that Goodwood Property & Investments Ltd 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 Goodwood Property & Investments Ltd. 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 for the period ended
31 October 2023



....................................................
aa Chartered Accountants
Fenlake House
Fenlake Business Centre
Peterborough
PE1 5BQ
29 July 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 287,912    112,344 
287,912    112,344 
Current assets      
Debtors 4 1,719    6,451 
Cash at bank and in hand 7,429    162,245 
9,148    168,696 
Creditors: amount falling due within one year 5 (354,989)   (302,869)
Net current assets (345,841)   (134,173)
 
Total assets less current liabilities (57,929)   (21,829)
Net assets (57,929)   (21,829)
 

Capital and reserves
     
Called up share capital 6 1    1 
Profit and loss account (57,930)   (21,830)
Shareholders' funds (57,929)   (21,829)
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 29 July 2024 and were signed by:


-------------------------------
Stephen Charles Rice
Director
4
General Information
Goodwood Property & Investments Ltd is a private company, limited by shares, registered in England and Wales, registration number 13682882, registration address 60 Willow Crescent, Thorne, Doncaster, England, DN8 4EU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33% Straight Line
Fixtures and Fittings 15% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees including directors

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Investment properties   Total
  £   £   £   £
At 01 November 2022   441    112,049    112,490 
Additions 1,835      174,153    175,988 
Disposals      
At 31 October 2023 1,835    441    286,202    288,478 
Depreciation
At 01 November 2022   146      146 
Charge for year 275    145      420 
On disposals      
At 31 October 2023 275    291      566 
Net book values
Closing balance as at 31 October 2023 1,560    150    286,202    287,912 
Opening balance as at 01 November 2022   295    112,049    112,344 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income 366    151 
Accrued Income 1,353   
Other Debtors   6,300 
1,719    6,451 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Accrued Expenses 29,587    8,800 
Other Creditors 1   
Directors' Current Accounts 325,401    294,069 
354,989    302,869 

6.

Share Capital

Authorised
1 Class A share of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
1 Class A share of £1.00 each  
 

7.

Director’s loan

Directors loan

During the year the directors have advanced the company £325,401 (2022 £294,068). This loan is charged at HMRC recommended rated of 7% and payable in instalments.
5