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Registration number: 01449752

H.R. Goodale (Northern) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

H.R. Goodale (Northern) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

H.R. Goodale (Northern) Limited

(Registration number: 01449752)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

4

 

14,771

 

22,321

Current assets

   

 

Debtors

5

330,417

 

331,498

 

Cash at bank and in hand

 

154,645

 

281,323

 

 

485,062

 

612,821

 

Creditors: Amounts falling due within one year

6

(415,639)

 

(478,398)

 

Net current assets

   

69,423

 

134,423

Total assets less current liabilities

   

84,194

 

156,744

Provisions for liabilities

 

(4,000)

 

(5,000)

Net assets

   

80,194

 

151,744

Capital and reserves

   

 

Called up share capital

8

55

 

55

 

Capital redemption reserve

50

 

50

 

Retained earnings

80,089

 

151,639

 

Shareholders' funds

   

80,194

 

151,744

 

H.R. Goodale (Northern) Limited

(Registration number: 01449752)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 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 year 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 28 June 2024 and signed on its behalf by:
 

.........................................
T O Dangerfield
Director

 

H.R. Goodale (Northern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Lacy Way
Lowfields Business Park
Elland
Halifax
HX5 9DB

These financial statements were authorised for issue by the Board on 28 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 disclosure and presentation requirements of Section 1A and the Companies Act 2006.

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.

The company's functional and presentation currency is pound sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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 tax expense for the period comprises current tax and deferred tax. Tax is recognised in profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

H.R. Goodale (Northern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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:

Asset class

Depreciation method and rate

Short leasehold land and buildings

Over term of lease

Plant and machinery

15% Reducing balance basis

Motor vehicles

25% Reducing balance basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

 

H.R. Goodale (Northern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2022 - 9).

 

H.R. Goodale (Northern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Short leasehold land and buildings
£

Plant and machinery
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

61,277

79,258

9,299

149,834

Additions

-

2,423

-

2,423

Disposals

(61,277)

(27,648)

-

(88,925)

At 31 December 2023

-

54,033

9,299

63,332

Depreciation

At 1 January 2023

61,275

57,307

8,931

127,513

Charge for the year

-

3,656

92

3,748

Eliminated on disposal

(61,275)

(21,425)

-

(82,700)

At 31 December 2023

-

39,538

9,023

48,561

Carrying amount

At 31 December 2023

-

14,495

276

14,771

At 31 December 2022

2

21,951

368

22,321

5

Debtors

Current

2023
£

2022
£

Trade debtors

319,415

313,971

Prepayments

10,602

17,527

Other debtors

400

-

 

330,417

331,498

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

84,677

120,608

Trade creditors

 

262,970

290,308

Taxation and social security

 

53,520

61,009

Accruals and deferred income

 

13,667

3,200

Other creditors

 

805

3,273

 

415,639

478,398

 

H.R. Goodale (Northern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Other borrowings

84,677

120,608

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

'A' Ordinary shares of £1 each

27

27

27

27

'B' Ordinary shares of £1 each

14

14

14

14

'C' Ordinary shares of £1 each

14

14

14

14

55

55

55

55

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £936,807 (2022 - £79,981).

10

Related party transactions

Expenditure with and payables to related parties

2023

Key management
£

Amounts payable to related party

84,677

2022

Key management
£

Amounts payable to related party

120,608