Registered number
05173524
Goldsea Ltd
Filleted Accounts
31 July 2023
Goldsea Ltd
Registered number: 05173524
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 348,675 348,675
Current assets
Debtors 4 1,242,622 1,217,409
Creditors: amounts falling due within one year 5 (25,878) (22,352)
Net current assets 1,216,744 1,195,057
Total assets less current liabilities 1,565,419 1,543,732
Creditors: amounts falling due after more than one year 6 (1,690,780) (1,656,315)
Net liabilities (125,361) (112,583)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (126,361) (113,583)
Shareholder's funds (125,361) (112,583)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Daniel D Massias
Director
Approved by the board on 19 July 2024
Goldsea Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
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).
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees and Directors 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost Mazal Investments Sarl
At 1 August 2022 € 500,000 348,675
At 31 July 2023 € 500,000 348,675
4 Debtors 2023 2022
£ £
Amount due from the shareholder € 1,450,000 1,242,622 1,217,255
Prepayments - 154
1,242,622 1,217,409
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 24,645 22,352
Accruals 1,233 -
25,878 22,352
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 2,527 2,527
Amount due to related party € 1,450,000 1,242,623 671,589
Amount due to shareholder € 520,000 445,630 436,533
1,690,780 1,656,315
7 Going Concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue its operations. This is based on the fact that the shareholder has undertaken not to seek repayment of the loan until the company has sufficient funds to repay.
8 Other information
Goldsea Ltd is a private company limited by shares and incorporated in England. Its registered office is:
19 Leyden Street
London
E1 7LE
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