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REGISTERED NUMBER: 01415355 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

R & D GOATLEY LIMITED

R & D GOATLEY LIMITED (REGISTERED NUMBER: 01415355)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R & D GOATLEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: S Goatley





REGISTERED OFFICE: Unit 3 William Street Trading
Estate William Street
Portslade
East Sussex
BN41 1PZ





REGISTERED NUMBER: 01415355 (England and Wales)





ACCOUNTANTS: Haines & Co
Chartered Accountants
Carlton House
28-29 Carlton Terrace
Portslade
Brighton
BN41 1UR

R & D GOATLEY LIMITED (REGISTERED NUMBER: 01415355)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 44,150 51,904
Investment property 6 910,000 910,000
954,150 961,904

CURRENT ASSETS
Stocks 27,065 65,654
Debtors 7 95,418 92,328
Cash at bank 143,234 213,345
265,717 371,327
CREDITORS
Amounts falling due within one year 8 252,570 295,548
NET CURRENT ASSETS 13,147 75,779
TOTAL ASSETS LESS CURRENT
LIABILITIES

967,297

1,037,683

CREDITORS
Amounts falling due after more than one year 9 (116,197 ) (146,065 )

PROVISIONS FOR LIABILITIES (83,610 ) (127,714 )
NET ASSETS 767,490 763,904

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Fair value reserve 12 459,515 344,636
Retained earnings 302,975 414,268
SHAREHOLDERS' FUNDS 767,490 763,904

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.

R & D GOATLEY LIMITED (REGISTERED NUMBER: 01415355)

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.

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 27 June 2024 and were signed by:





S Goatley - Director


R & D GOATLEY LIMITED (REGISTERED NUMBER: 01415355)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

R & D Goatley 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Land and buildings
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

The methods and significant assumptions used to ascertain the fair value at the balance sheet date and the fair value movement included in the profit for the year are as follows:

Properties are value by the directors using a yield basis to identify fair value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

R & D GOATLEY LIMITED (REGISTERED NUMBER: 01415355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 20 ) .

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 193,280 70,290 263,570
Additions - 3,021 3,021
At 31 March 2024 193,280 73,311 266,591
DEPRECIATION
At 1 April 2023 144,329 67,337 211,666
Charge for year 9,790 985 10,775
At 31 March 2024 154,119 68,322 222,441
NET BOOK VALUE
At 31 March 2024 39,161 4,989 44,150
At 31 March 2023 48,951 2,953 51,904

R & D GOATLEY LIMITED (REGISTERED NUMBER: 01415355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 52,990
DEPRECIATION
At 1 April 2023
and 31 March 2024 19,075
NET BOOK VALUE
At 31 March 2024 33,915
At 31 March 2023 33,915

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 910,000
NET BOOK VALUE
At 31 March 2024 910,000
At 31 March 2023 910,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2016 398,000
Valuation in 2022 61,515
Cost 450,485
910,000

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

2024 2023
£    £   
Cost 450,485 450,485

Investment property was valued on an open market basis basis on 7 June 2022 by the directors .

R & D GOATLEY LIMITED (REGISTERED NUMBER: 01415355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 79,513 76,421
Other debtors 15,905 15,907
95,418 92,328

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 19,270 18,682
Hire purchase contracts 10,598 10,598
Trade creditors 120,260 161,244
Taxation and social security 89,198 84,988
Other creditors 13,244 20,036
252,570 295,548

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 10) 98,534 117,804
Hire purchase contracts 17,663 28,261
116,197 146,065

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 46,354 56,890

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 19,270 18,682

Amounts falling due between one and two years:
Bank loans - 1-2 years 19,877 19,270

Amounts falling due between two and five years:
Bank loans - 2-5 years 32,303 41,644

Amounts falling due in more than five years:

R & D GOATLEY LIMITED (REGISTERED NUMBER: 01415355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. LOANS - continued
2024 2023
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 46,354 56,890

The company received a bounce back loan of £50,000 in June 2020. The loan is unsecured and bears interest at 2.5% from July 2021. The loan is repayable from July 2021 in monthly instalments of £887.

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 117,804 136,486

The bank loan is secured on the property to which it relates, is payable in monthly instalments over 15 years and bears interest at 3.28% over the lender's base rate.

12. RESERVES
Fair
value
reserve
£   
At 1 April 2023 344,636
Transfer 114,879

At 31 March 2024 459,515