2022-11-012023-10-312023-10-31false03224711GOODRETURN 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GOODRETURN LIMITED

Registered Number
03224711
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

GOODRETURN LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

LANNING, Paul Frederick James
MORINA, Lulzim

Registered Address

1 Gemini Court
42a Throwley Way
Sutton
SM1 4AF

Registered Number

03224711 (England and Wales)
GOODRETURN LIMITED
Statement of Financial Position
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets32,3473,129
Investment property4293,779267,730
296,126270,859
Current assets
Debtors5297,63192,781
297,63192,781
Creditors amounts falling due within one year6(498,870)(199,987)
Net current assets (liabilities)(201,239)(107,206)
Total assets less current liabilities94,887163,653
Creditors amounts falling due after one year7(32,871)(38,426)
Provisions for liabilities8(516)(594)
Net assets61,500124,633
Capital and reserves
Called up share capital100100
Profit and loss account61,400124,533
Shareholders' funds61,500124,633
The financial statements were approved and authorised for issue by the Board of Directors on 25 July 2024, and are signed on its behalf by:
LANNING, Paul Frederick James
Director
MORINA, Lulzim
Director

Registered Company No. 03224711
GOODRETURN LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer. Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Office Equipment25
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 and loss.
2.Average number of employees

20232022
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 November 222572,8001,5404,597
At 31 October 232572,8001,5404,597
Depreciation and impairment
At 01 November 222117005571,468
Charge for year11525246782
At 31 October 232221,2258032,250
Net book value
At 31 October 23351,5757372,347
At 31 October 22462,1009833,129
4.Investment property
The investment property represents the property at Flat 12 Oak View, KT19 8NG which was purchased in October 2020.

£
Fair value at 01 November 22267,730
Additions26,049
At 31 October 23293,779
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables259,20290,145
Other debtors38,4292,636
Total297,63192,781
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables152,09355,148
Bank borrowings and overdrafts27,76712,355
Taxation and social security27,49342,770
Other creditors289,59288,174
Accrued liabilities and deferred income1,9251,540
Total498,870199,987
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts32,87138,426
Total32,87138,426
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)516594
Total516594