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Registration number: 08141038

M Gould Windows Limited

Unaudited Filleted Financial Statements

for the Period from 1 April 2023 to 31 July 2024

 

M Gould Windows Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

M Gould Windows Limited

(Registration number: 08141038)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

19,704

Current assets

 

Stocks

5

-

23,770

Debtors

6

554

34,023

Cash at bank and in hand

 

43,115

9,641

 

43,669

67,434

Creditors: Amounts falling due within one year

7

(19,058)

(53,729)

Net current assets

 

24,611

13,705

Total assets less current liabilities

 

24,611

33,409

Provisions for liabilities

-

(3,744)

Net assets

 

24,611

29,665

Capital and reserves

 

Called up share capital

8

67

67

Capital redemption reserve

33

33

Retained earnings

24,511

29,565

Shareholders' funds

 

24,611

29,665

 

M Gould Windows Limited

(Registration number: 08141038)
Balance Sheet as at 31 July 2024 (continued)

For the financial period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 September 2024 and signed on its behalf by:
 

.........................................
M D Gould
Director

 

M Gould Windows Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
60 Newland Street
Coleford
Gloucestershire
GL16 8AL
United Kingdom

These financial statements were authorised for issue by the Board on 5 September 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

M Gould Windows Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 July 2024 (continued)

2

Accounting policies (continued)

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

M Gould Windows Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 July 2024 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Motor vehicles

20% reducing balance

Office equipment

25% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

M Gould Windows Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 July 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

2,846

43,025

45,871

Additions

-

29,000

29,000

Disposals

(2,846)

(72,025)

(74,871)

At 31 July 2024

-

-

-

Depreciation

At 1 April 2023

2,353

23,814

26,167

Charge for the period

258

6,742

7,000

Eliminated on disposal

(2,611)

(30,556)

(33,167)

At 31 July 2024

-

-

-

Carrying amount

At 31 July 2024

-

-

-

At 31 March 2023

493

19,211

19,704

 

M Gould Windows Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 July 2024 (continued)

5

Stocks

2024
£

2023
£

Raw materials and consumables

-

11,270

Work in progress

-

12,500

-

23,770

6

Debtors

Current

2024
£

2023
£

Trade debtors

554

33,681

Prepayments

-

342

 

554

34,023

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

36,605

Taxation and social security

17,192

10,695

Accruals and deferred income

1,771

3,289

Other creditors

95

3,140

19,058

53,729

Creditors: amounts falling due after more than one year

2024
£

2023
£

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.10 each

670

67

670

67