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REGISTERED NUMBER: 03443507 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

GOSLETT CONTRACTS LIMITED

GOSLETT CONTRACTS LIMITED (REGISTERED NUMBER: 03443507)






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


GOSLETT CONTRACTS LIMITED

COMPANY INFORMATION
for the year ended 31 October 2023







DIRECTOR: R W M Thurley





SECRETARY: A Thurley





REGISTERED OFFICE: Cart Lodge
Harps Farm
Bedlars Green
Great Hallingbury
Hertfordshire
CM22 7TL





REGISTERED NUMBER: 03443507 (England and Wales)





ACCOUNTANTS: Northfield Management Services Limited
Cart Lodge
Harps Farm
Bedlars Green
Great Hallingbury
Hertfordshire
CM22 7TL

GOSLETT CONTRACTS LIMITED (REGISTERED NUMBER: 03443507)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,530 14,043

CURRENT ASSETS
Debtors 5 11,939 73,770
Cash at bank and in hand 22,672 15,256
34,611 89,026
CREDITORS
Amounts falling due within one year 6 33,961 88,065
NET CURRENT ASSETS 650 961
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,180

15,004

CREDITORS
Amounts falling due after more than one
year

7

7,657

13,318
NET ASSETS 3,523 1,686

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 3,423 1,586
SHAREHOLDERS' FUNDS 3,523 1,686

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 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.

GOSLETT CONTRACTS LIMITED (REGISTERED NUMBER: 03443507)

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 director and authorised for issue on 25 July 2024 and were signed by:





R W M Thurley - Director


GOSLETT CONTRACTS LIMITED (REGISTERED NUMBER: 03443507)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Goslett Contracts 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the accounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of the estimation means that that the actual outcomes could differ from those estimates.

Turnover
Turnover represents the value of goods and services supplied during the year, excluding value added tax.

Tangible fixed assets
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.
Office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-portable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic short-term financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


GOSLETT CONTRACTS LIMITED (REGISTERED NUMBER: 03443507)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Office Motor
equipment vehicles Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 5,946 24,250 30,196
DEPRECIATION
At 1 November 2022 5,544 10,609 16,153
Charge for year 102 3,411 3,513
At 31 October 2023 5,646 14,020 19,666
NET BOOK VALUE
At 31 October 2023 300 10,230 10,530
At 31 October 2022 402 13,641 14,043

GOSLETT CONTRACTS LIMITED (REGISTERED NUMBER: 03443507)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022
and 31 October 2023 24,250
DEPRECIATION
At 1 November 2022 10,609
Charge for year 3,411
At 31 October 2023 14,020
NET BOOK VALUE
At 31 October 2023 10,230
At 31 October 2022 13,641

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,739 69,707
Other debtors 3,000 3,000
Prepayments and accrued income 1,200 1,063
11,939 73,770

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bounce back loan 4,599 4,599
Hire purchase contracts 1,051 6,308
Trade creditors 6,304 18,386
Tax 4,999 6,126
VAT 4,578 9,097
Directors' current accounts 9,280 40,549
Accrued expenses 3,150 3,000
33,961 88,065

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bounce back loan 7,657 12,267
Hire purchase contracts - 1,051
7,657 13,318

GOSLETT CONTRACTS LIMITED (REGISTERED NUMBER: 03443507)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100