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REGISTERED NUMBER: SC317400 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Gofor Finance Ltd

Gofor Finance Ltd (Registered number: SC317400)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Gofor Finance Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: G Lesslie





SECRETARY: T Kain





REGISTERED OFFICE: Lochside House
3 Lochside Way
Edinburgh
EH12 9DT





REGISTERED NUMBER: SC317400 (Scotland)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

Gofor Finance Ltd (Registered number: SC317400)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,843 51,388

CURRENT ASSETS
Debtors 5 533,764 336,458
Cash at bank 176,824 179,845
710,588 516,303
CREDITORS
Amounts falling due within one year 6 547,269 449,134
NET CURRENT ASSETS 163,319 67,169
TOTAL ASSETS LESS CURRENT
LIABILITIES

207,162

118,557

CREDITORS
Amounts falling due after more than one
year

7

(21,563

)

(107,813

)

PROVISIONS FOR LIABILITIES (10,961 ) (9,764 )
NET ASSETS 174,638 980

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 174,538 880
SHAREHOLDERS' FUNDS 174,638 980

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 August 2024 and were signed by:





G Lesslie - Director


Gofor Finance Ltd (Registered number: SC317400)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Gofor Finance Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

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 - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipments - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 15 ) .

Gofor Finance Ltd (Registered number: SC317400)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipments Totals
£    £    £    £   
COST
At 1 April 2023 1,420 34,598 110,299 146,317
Additions - 1,672 1,116 2,788
At 31 March 2024 1,420 36,270 111,415 149,105
DEPRECIATION
At 1 April 2023 609 23,728 70,592 94,929
Charge for year 203 2,405 7,725 10,333
At 31 March 2024 812 26,133 78,317 105,262
NET BOOK VALUE
At 31 March 2024 608 10,137 33,098 43,843
At 31 March 2023 811 10,870 39,707 51,388

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 432,775 242,345
Other debtors 2,000 -
Directors' current accounts 773 34,991
Prepayments and accrued income 98,216 59,122
533,764 336,458

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 86,250 86,250
Trade creditors 116,267 215,082
Tax 175,461 60,840
Social security and other taxes 29,004 20,151
VAT 126,267 57,188
Other creditors 10,324 6,448
Accrued expenses 3,696 3,175
547,269 449,134

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 2-5 years 21,563 107,813

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £164,000 (2023 - £94,500) were paid to the director.