IRIS Accounts Production v24.2.0.383 05375178 director 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053751782022-12-31053751782023-12-31053751782023-01-012023-12-31053751782021-12-31053751782022-01-012022-12-31053751782022-12-3105375178ns15:EnglandWales2023-01-012023-12-3105375178ns14:PoundSterling2023-01-012023-12-3105375178ns10:Director12023-01-012023-12-3105375178ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105375178ns10:SmallEntities2023-01-012023-12-3105375178ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3105375178ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105375178ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105375178ns10:FullAccounts2023-01-012023-12-310537517812023-01-012023-12-3105375178ns10:CompanySecretary12023-01-012023-12-3105375178ns10:RegisteredOffice2023-01-012023-12-3105375178ns5:CurrentFinancialInstruments2023-12-3105375178ns5:CurrentFinancialInstruments2022-12-3105375178ns5:Non-currentFinancialInstruments2023-12-3105375178ns5:Non-currentFinancialInstruments2022-12-3105375178ns5:ShareCapital2023-12-3105375178ns5:ShareCapital2022-12-3105375178ns5:RetainedEarningsAccumulatedLosses2023-12-3105375178ns5:RetainedEarningsAccumulatedLosses2022-12-3105375178ns5:NetGoodwill2023-01-012023-12-3105375178ns5:PlantMachinery2023-01-012023-12-3105375178ns5:NetGoodwill2022-12-3105375178ns5:NetGoodwill2023-12-3105375178ns5:NetGoodwill2022-12-3105375178ns5:FurnitureFittings2022-12-3105375178ns5:MotorVehicles2022-12-3105375178ns5:ComputerEquipment2022-12-3105375178ns5:FurnitureFittings2023-01-012023-12-3105375178ns5:MotorVehicles2023-01-012023-12-3105375178ns5:ComputerEquipment2023-01-012023-12-3105375178ns5:FurnitureFittings2023-12-3105375178ns5:MotorVehicles2023-12-3105375178ns5:ComputerEquipment2023-12-3105375178ns5:FurnitureFittings2022-12-3105375178ns5:MotorVehicles2022-12-3105375178ns5:ComputerEquipment2022-12-3105375178ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105375178ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105375178ns5:WithinOneYear2023-12-3105375178ns5:WithinOneYear2022-12-3105375178ns5:DeferredTaxation2022-12-3105375178ns5:DeferredTaxation2023-12-31
REGISTERED NUMBER: 05375178 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GOODNEWS SWANSEA LIMITED

GOODNEWS SWANSEA LIMITED (REGISTERED NUMBER: 05375178)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

GOODNEWS SWANSEA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr N R M Jones



SECRETARY: Mrs S E Jones



REGISTERED OFFICE: East Pilton Farm
Rhossili
Gower
Swansea
SA3 1PQ



REGISTERED NUMBER: 05375178 (England and Wales)



ACCOUNTANTS: John F. Harvey
Dynevor House
5-6 De La Beche Street
Swansea
SA1 3HA



BANKERS: Lloyds Bank PLC
802 Oxford Street
Swansea
SA1 3AP

GOODNEWS SWANSEA LIMITED (REGISTERED NUMBER: 05375178)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 13,630 19,381
13,630 19,381

CURRENT ASSETS
Stocks 69,486 59,376
Debtors 6 11,137 3,146
Cash at bank and in hand 81,397 79,197
162,020 141,719
CREDITORS
Amounts falling due within one year 7 89,707 81,905
NET CURRENT ASSETS 72,313 59,814
TOTAL ASSETS LESS CURRENT
LIABILITIES

85,943

79,195

CREDITORS
Amounts falling due after more than one
year

8

(14,167

)

(24,167

)

PROVISIONS FOR LIABILITIES 10 (2,589 ) (3,682 )
NET ASSETS 69,187 51,346

GOODNEWS SWANSEA LIMITED (REGISTERED NUMBER: 05375178)

BALANCE SHEET - continued
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 69,183 51,342
SHAREHOLDERS' FUNDS 69,187 51,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 August 2024 and were signed by:





Mr N R M Jones - Director


GOODNEWS SWANSEA LIMITED (REGISTERED NUMBER: 05375178)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Goodnews Swansea 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the net retail sale value of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 15% on cost

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 Profit and Loss Account, 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.


GOODNEWS SWANSEA LIMITED (REGISTERED NUMBER: 05375178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
Pension costs relate to the employers element of pension obligations due under autoenrolement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 9,000
AMORTISATION
At 1 January 2023
and 31 December 2023 9,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

GOODNEWS SWANSEA LIMITED (REGISTERED NUMBER: 05375178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 17,762 24,250 11,740 53,752
Additions 520 - 499 1,019
Disposals - - (1,140 ) (1,140 )
At 31 December 2023 18,282 24,250 11,099 53,631
DEPRECIATION
At 1 January 2023 17,551 6,063 10,757 34,371
Charge for year 122 6,062 584 6,768
Eliminated on disposal - - (1,138 ) (1,138 )
At 31 December 2023 17,673 12,125 10,203 40,001
NET BOOK VALUE
At 31 December 2023 609 12,125 896 13,630
At 31 December 2022 211 18,187 983 19,381

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,341 -
Other debtors 3,796 3,146
11,137 3,146

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 33,542 30,290
Taxation and social security 12,532 5,661
Other creditors 33,633 35,954
89,707 81,905

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 14,167 24,167

GOODNEWS SWANSEA LIMITED (REGISTERED NUMBER: 05375178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 21,684 21,684

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,589 3,682

Deferred
tax
£   
Balance at 1 January 2023 3,682
Accelerated capital allowances (1,093 )
Balance at 31 December 2023 2,589

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GOODNEWS SWANSEA LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Goodnews Swansea Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Goodnews Swansea Limited in accordance with the terms of our engagement letter dated 12 April 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Goodnews Swansea Limited and state those matters that we have agreed to state to the director of Goodnews Swansea Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Goodnews Swansea Limited and its director for our work or for this report.

It is your duty to ensure that Goodnews Swansea Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Goodnews Swansea Limited. You consider that Goodnews Swansea Limited 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 financial statements of Goodnews Swansea Limited. 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 statutory financial statements.






John F. Harvey
Dynevor House
5-6 De La Beche Street
Swansea
SA1 3HA


19 August 2024