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COMPANY REGISTRATION NUMBER: 06648143
Goosedale Banqueting Limited
Filleted Unaudited Financial Statements
31 March 2024
Goosedale Banqueting Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
361,389
1,067,097
Current assets
Stocks
14,921
11,794
Debtors
6
46,320
79,011
Cash at bank and in hand
25,403
12,500
--------
---------
86,644
103,305
Creditors: amounts falling due within one year
7
711,465
921,772
---------
---------
Net current liabilities
624,821
818,467
---------
------------
Total assets less current liabilities
( 263,432)
248,630
Creditors: amounts falling due after more than one year
8
156,922
284,808
---------
---------
Net liabilities
( 420,354)
( 36,178)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 420,454)
( 36,278)
---------
--------
Shareholders deficit
( 420,354)
( 36,178)
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Goosedale Banqueting Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 2 August 2024 , and are signed on behalf of the board by:
Mr G Hayer
Mrs H K Hayer
Director
Director
Company registration number: 06648143
Goosedale Banqueting Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Goosedale Lane, Bestwood Village, Nottingham, NG6 8UJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The accounts have been prepared on a going concern basis and are subject to the continued support of the directors.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 24 (2023: 7 ).
5. Tangible assets
Long leasehold property
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2023
970,465
182,924
30,500
48,062
1,231,951
Additions
30,168
4,224
34,392
Disposals
( 123,118)
( 30,500)
( 48,062)
( 201,680)
---------
---------
--------
--------
------------
At 31 March 2024
970,465
89,974
4,224
1,064,663
---------
---------
--------
--------
------------
Depreciation
At 1 April 2023
102,429
25,072
37,353
164,854
Charge for the year
12,586
1,056
13,642
Disposals
( 62,797)
( 25,072)
( 37,353)
( 125,222)
Impairment losses
650,000
650,000
---------
---------
--------
--------
------------
At 31 March 2024
650,000
52,218
1,056
703,274
---------
---------
--------
--------
------------
Carrying amount
At 31 March 2024
320,465
37,756
3,168
361,389
---------
---------
--------
--------
------------
At 31 March 2023
970,465
80,495
5,428
10,709
1,067,097
---------
---------
--------
--------
------------
6. Debtors
2024
2023
£
£
Trade debtors
603
79,011
Other debtors
45,717
--------
--------
46,320
79,011
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6,267
5,571
Trade creditors
39,457
42,010
Social security and other taxes
6,247
23,513
Other creditors
659,494
850,678
---------
---------
711,465
921,772
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
33,013
38,726
Other creditors
123,909
246,082
---------
---------
156,922
284,808
---------
---------
Included within creditors: amounts falling due after more than one year is an amount of £8,670 (2023: £14,986) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
9. Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Loan
430,000
430,000
---------
---------
The Hayer Pension Scheme has security over the long leasehold property at Goosedale Farm, Goosedale Lane, Bestwood Village, Nottingham. This was created on 11 September 2020.
10. Directors' advances, credits and guarantees
The directors received an advance in the year of £579 and at 31 March 2024 this loan remained outstanding.
11. Related party transactions
Goosedale Banqueting Limited has received loans from associated companies and the balance outstanding to these companies at the year end was £ 337,723 (2023: £ 36,666 ). A loan was made to a separate associated company in the year and at the year end the outstanding balance owing to Goosedale Banqueting Limited was £4,566. The directors had also made a loan to Goosedale Banqueting Limited and the balance owing to the directors at 31 March 2023 was £ 410,099 . This loan was repaid in full in the year to 31 March 2024. In the year to 31 March 2024 the directors were advanced £ 579 and this balance remained outstanding at the year end. These loans are unsecured, no interest is being charged and no repayment terms are in place.