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Registered number: 06912029
Go Tripod Ltd
Financial Statements
For The Year Ended 31 May 2024
DJ Coulter & Associates Limited
Chartered Certified Accountants
Wellesley House
7 Clarence Parade
Cheltenham
GL50 3NY
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of Go Tripod Ltd for the year ended 31 May 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Go Tripod Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Go Tripod Ltd , as a body, in accordance with the terms of our engagement letter dated 14 February 2017. Our work has been undertaken solely to prepare for your approval the accounts of Go Tripod Ltd and state those matters that we have agreed to state to the directors of Go Tripod Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Go Tripod Ltd and its directors as a body for our work or for this report.
It is your duty to ensure that Go Tripod Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Go Tripod Ltd . You consider that Go Tripod Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Go Tripod Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
7th August 2024
DJ Coulter & Associates Limited
Chartered Certified Accountants
Wellesley House
7 Clarence Parade
Cheltenham
GL50 3NY
Page 1
Page 2
Balance Sheet
Registered number: 06912029
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,122 2,942
2,122 2,942
CURRENT ASSETS
Debtors 5 24,245 29,702
Cash at bank and in hand 8,198 16,416
32,443 46,118
Creditors: Amounts Falling Due Within One Year 6 (38,262 ) (29,671 )
NET CURRENT ASSETS (LIABILITIES) (5,819 ) 16,447
TOTAL ASSETS LESS CURRENT LIABILITIES (3,697 ) 19,389
NET (LIABILITIES)/ASSETS (3,697 ) 19,389
CAPITAL AND RESERVES
Called up share capital 7 102 102
Profit and Loss Account (3,799 ) 19,287
SHAREHOLDERS' FUNDS (3,697) 19,389
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Page 3
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Colin Ramsay
Director
7th August 2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Go Tripod Ltd Registered number 06912029 is a limited by shares company incorporated in England & Wales. The Registered Office is 7 Clarence Parade, Cheltenham, Gloucestershire, GL50 3NY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Office and Computer Equipment 25% reducing balance
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Office and Computer Equipment
£
Cost
As at 1 June 2023 8,373
Disposals (336 )
As at 31 May 2024 8,037
Depreciation
As at 1 June 2023 5,431
Provided during the period 708
Disposals (224 )
As at 31 May 2024 5,915
Net Book Value
As at 31 May 2024 2,122
As at 1 June 2023 2,942
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Page 6
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 22,783 28,422
Prepayments and accrued income 1,007 850
Other debtors 430 430
Other taxes and social security 25 -
24,245 29,702
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,424 3,685
Bank loans and overdrafts 176 205
Corporation tax 16,691 8,067
Other taxes and social security - 1,333
VAT 10,700 9,872
Other creditors 287 320
Accruals and deferred income 3,362 5,434
Directors' loan accounts 1,622 755
38,262 29,671
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
99 Ordinary Shares of £ 1.00 each 99 99
1 Ordinary A shares of £ 1.00 each 1 1
1 Ordinary B shares of £ 1.00 each 1 1
1 Ordinary C shares of £ 1.00 each 1 1
102 102
8. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Colin Ramsay 36,000 35,600
Mr Simon Ashley 10,100 7,900
Mrs Leona Ashley 10,100 7,900
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Page 7
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 56,200 51,400
Page 7