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REGISTERED NUMBER: 03014872 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024


FOR



GOLDSTATUS TECHNOLOGY LIMITED


GOLDSTATUS TECHNOLOGY LIMITED (REGISTERED NUMBER: 03014872)



CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024











Page




Company Information  

1




Abridged Balance Sheet  

2




Notes to the Financial Statements  

4





GOLDSTATUS TECHNOLOGY LIMITED



COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2024









DIRECTOR:

Mr M Conway







SECRETARY:

Mrs S E Conway







REGISTERED OFFICE:

Hartfield Place


40-44 High Street


Northwood


Middlesex


HA6 1BN







REGISTERED NUMBER:

03014872 (England and Wales)







ACCOUNTANTS:

Robert Clow & Co


Chartered Accountants


Hartfield Place


40 - 44 High Street


Northwood


Middlesex


HA6 1BN


GOLDSTATUS TECHNOLOGY LIMITED (REGISTERED NUMBER: 03014872)



ABRIDGED BALANCE SHEET

31 MARCH 2024



31.3.24

31.3.23



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

-


-



Investment property

5

480,000


480,000



480,000


480,000




CURRENT ASSETS

Debtors

45,016


70,014



Cash at bank

22,024


36,711



67,040


106,725



CREDITORS

Amounts falling due within one year

18,003


59,539



NET CURRENT ASSETS

49,037


47,186



TOTAL ASSETS LESS CURRENT

LIABILITIES

529,037


527,186




PROVISIONS FOR LIABILITIES

70,397


53,503



NET ASSETS

458,640


473,683




CAPITAL AND RESERVES

Called up share capital

2


2



Revaluation reserve

6

339,046


355,940



Retained earnings

6

119,592


117,741



SHAREHOLDERS' FUNDS

458,640


473,683




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.  


The director acknowledges his 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.


GOLDSTATUS TECHNOLOGY LIMITED (REGISTERED NUMBER: 03014872)



ABRIDGED BALANCE SHEET - continued

31 MARCH 2024



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


All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.  


In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.


The financial statements were approved by the director and authorised for issue on 22 May 2024 and were signed by:






Mr M Conway - Director



GOLDSTATUS TECHNOLOGY LIMITED (REGISTERED NUMBER: 03014872)



NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024



1.

STATUTORY INFORMATION



Goldstatus Technology 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 represents rental income received.



Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  



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.

The Financial Reporting Standard for Smaller Entities requires investment property to be stated at market value and not depreciated. This is a departure from the Companies Act 2006 necessary in order to show a true and fair view.


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.


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 (2023 - NIL).


GOLDSTATUS TECHNOLOGY LIMITED (REGISTERED NUMBER: 03014872)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024



4.

TANGIBLE FIXED ASSETS


Totals

£   



COST


At 1 April 2023


and 31 March 2024

666




DEPRECIATION


At 1 April 2023


and 31 March 2024

666




NET BOOK VALUE


At 31 March 2024

-




At 31 March 2023

-




5.

INVESTMENT PROPERTY


Total

£   



FAIR VALUE


At 1 April 2023


and 31 March 2024

480,000




NET BOOK VALUE


At 31 March 2024

480,000




At 31 March 2023

480,000





Fair value at 31 March 2024 is represented by:

£   



Valuation in 2008

128,290




Valuation in 2013

20,000




Valuation in 2014

30,000




Valuation in 2015

30,000




Valuation in 2016

70,000




Valuation in 2017

25,000




Valuation in 2022

65,000




Cost

111,710



480,000





If investment property had not been revalued it would have been included at the following historical cost:



31.3.24


31.3.23

£   

£   



Cost

111,710


111,710





Investment property was valued on an open market basis on 31 March 2024 by the director .


GOLDSTATUS TECHNOLOGY LIMITED (REGISTERED NUMBER: 03014872)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024



6.

RESERVES


Retained


Revaluation



earnings


reserve


Totals

£   

£   

£   




At 1 April 2023

117,741


355,940


473,681




Profit for the year

13,911


-


13,911




Dividends

(12,060

)

-


(12,060

)



Revaluations

-


(16,894

)

(16,894

)



At 31 March 2024

119,592


339,046


458,638




7.

DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES


Included in other creditors is £12,043 (2023: £54,223) owed to the director and related parties.

8.

RELATED PARTY DISCLOSURES



During the year, total dividends of £12,060 (2023 - £54,000) were paid to the director .


9.

ULTIMATE CONTROLLING PARTY



The controlling party is Mr M Conway.