Registered number
04212886
Goodmile Management Ltd
Filleted Accounts
31 August 2023
Goodmile Management Ltd
Registered number: 04212886
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Investments 4 381,629 381,629
Current assets
Stocks 2,375,900 2,375,900
Debtors 5 2,538,441 2,364,073
Cash at bank and in hand 2,293 914
4,916,634 4,740,887
Creditors: amounts falling due within one year 6 (1,997,935) (1,707,782)
Net current assets 2,918,699 3,033,105
Total assets less current liabilities 3,300,328 3,414,734
Creditors: amounts falling due after more than one year 7 (1,475,977) (1,590,011)
Net assets 1,824,351 1,824,723
Capital and reserves
Called up share capital 1 1
Revaluation reserve 8 1,722,068 1,722,068
Profit and loss account 102,282 102,654
Shareholders' funds 1,824,351 1,824,723
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Chishty
Director
Approved by the board on 3 August 2024
Goodmile Management Ltd
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2022 4,260 17,262 21,522
At 31 August 2023 4,260 17,262 21,522
Depreciation
At 1 September 2022 4,260 17,262 21,522
At 31 August 2023 4,260 17,262 21,522
Net book value
At 31 August 2023 - - -
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 September 2022 381,629
At 31 August 2023 381,629
5 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 2,489,946 2,315,578
Other debtors 48,495 48,495
2,538,441 2,364,073
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 101,825 38,823
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,867,887 1,640,796
Taxation and social security costs 18,095 18,035
Other creditors 10,128 10,128
1,997,935 1,707,782
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 956,423 1,071,597
Other creditors 519,554 518,414
1,475,977 1,590,011
8 Revaluation reserve 2023 2022
£ £
At 1 September 2022 1,722,068 1,647,068
Gain on revaluation of land and buildings - 75,000
At 31 August 2023 1,722,068 1,722,068
9 Other information
Goodmile Management Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Kemp House
156 - 160 City Road
London
EC1V 2NX
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