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REGISTERED NUMBER: 08795572 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Goodwins Paint & Bodyshop Limited

Goodwins Paint & Bodyshop Limited (Registered number: 08795572)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Goodwins Paint & Bodyshop Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr C Kenway





REGISTERED OFFICE: 1-5 St. Albans Road
Lytham St Annes
Lancashire
FY8 1UB





REGISTERED NUMBER: 08795572 (England and Wales)





ACCOUNTANTS: Ashworth Treasure Limited
Chartered Accountants
17-19 Park Street
Lytham
Lancashire
FY8 5LU

Goodwins Paint & Bodyshop Limited (Registered number: 08795572)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 304,323 316,440
304,323 316,440

CURRENT ASSETS
Stocks 31,207 23,707
Debtors 341,021 388,245
Cash at bank 215 1
372,443 411,953
CREDITORS
Amounts falling due within one year 320,865 326,510
NET CURRENT ASSETS 51,578 85,443
TOTAL ASSETS LESS CURRENT
LIABILITIES

355,901

401,883

CREDITORS
Amounts falling due after more than one
year

6

228,930

269,598
NET ASSETS 126,971 132,285

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 126,969 132,283
126,971 132,285

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Goodwins Paint & Bodyshop Limited (Registered number: 08795572)

Abridged Balance Sheet - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 September 2024 and were signed by:





Mr C Kenway - Director


Goodwins Paint & Bodyshop Limited (Registered number: 08795572)

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

1. STATUTORY INFORMATION

Goodwins Paint & Bodyshop Limited is a private company, limited by shares , registered in England and Wales. 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 14 (2022 - 12 ) .

Goodwins Paint & Bodyshop Limited (Registered number: 08795572)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 21,000
AMORTISATION
At 1 January 2023
and 31 December 2023 21,000
NET BOOK VALUE

At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 405,373
Additions 5,660
At 31 December 2023 411,033
DEPRECIATION
At 1 January 2023 88,933
Charge for year 17,777
At 31 December 2023 106,710
NET BOOK VALUE
At 31 December 2023 304,323
At 31 December 2022 316,440

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2023 2022
£    £   
Repayable by instalments
Bank loans 82,323 108,184

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr C Kenway
Balance outstanding at start of year 236,376 243,156
Amounts advanced 90,801 94,560
Amounts repaid (107,722 ) (101,340 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 219,455 236,376

Interest is charged on overdrawn balances at the official rate.