Company registration number 06525495 (England and Wales)
GOLDSMITH WEBB LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
92 Station Road
Clacton on Sea
Essex
CO15 1SG
GOLDSMITH WEBB LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
GOLDSMITH WEBB LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr D Goldsmith
Mr P Webb
Mr K Bennett
Mr S Bolton
Secretary
Mr P Webb
Company number
06525495
Registered office
19 Market Road
Chelmsford
Essex
CM1 1AX
Accountants
TC Group
92 Station Road
Clacton on Sea
Essex
CO15 1SG
GOLDSMITH WEBB LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
-
0
26,250
Tangible assets
5
123,840
137,688
123,840
163,938
Current assets
Stocks
69,737
67,550
Debtors
6
780,572
710,420
Cash at bank and in hand
66,509
89,187
916,818
867,157
Creditors: amounts falling due within one year
7
(268,896)
(297,274)
Net current assets
647,922
569,883
Total assets less current liabilities
771,762
733,821
Creditors: amounts falling due after more than one year
8
(70,828)
(119,149)
Provisions for liabilities
(30,961)
(26,161)
Net assets
669,973
588,511
Capital and reserves
Called up share capital
227
227
Share premium account
22,275
22,275
Profit and loss reserves
647,471
566,009
Total equity
669,973
588,511
GOLDSMITH WEBB LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 19 August 2024 and are signed on its behalf by:
Mr D Goldsmith
Mr P Webb
Director
Director
Company Registration No. 06525495
GOLDSMITH WEBB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Goldsmith Webb Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19 Market Road, Chelmsford, Essex, CM1 1AX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% reducing balance
Fixtures and fittings
25 % reducing balance
Computers
50% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

GOLDSMITH WEBB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

 

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

GOLDSMITH WEBB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.

 

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
20
21
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
725,000
Amortisation and impairment
At 1 April 2023
698,750
Amortisation charged for the year
26,250
At 31 March 2024
725,000
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
26,250
GOLDSMITH WEBB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
5
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 April 2023
420,035
16,751
11,862
448,648
Additions
16,997
5,131
1,473
23,601
At 31 March 2024
437,032
21,882
13,335
472,249
Depreciation and impairment
At 1 April 2023
296,140
6,769
8,051
310,960
Depreciation charged in the year
31,507
3,672
2,270
37,449
At 31 March 2024
327,647
10,441
10,321
348,409
Carrying amount
At 31 March 2024
109,385
11,441
3,014
123,840
At 31 March 2023
123,895
9,982
3,811
137,688
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
54,005
36,640
Other debtors
726,567
673,780
780,572
710,420
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
47,046
50,543
Taxation and social security
75,332
85,081
Other creditors
136,518
151,650
268,896
297,274
GOLDSMITH WEBB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,232
23,155
Other creditors
57,596
95,994
70,828
119,149
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