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REGISTERED NUMBER: 09072046 (England and Wales)















GO BALANCE LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 DECEMBER 2023






GO BALANCE LTD (REGISTERED NUMBER: 09072046)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GO BALANCE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 DECEMBER 2023







DIRECTOR: Mr C S Kelly





REGISTERED OFFICE: International House
64 Nile Street
London
N1 7SR





REGISTERED NUMBER: 09072046 (England and Wales)





ACCOUNTANTS: Spurling Cannon
King Arthur’s Court
Maidstone Road
Charing
Kent
TN27 0JS

GO BALANCE LTD (REGISTERED NUMBER: 09072046)

BALANCE SHEET
28 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 668 1,335
Investments 5 - 300
668 1,635

CURRENT ASSETS
Stocks 1,141,433 1,269,642
Debtors 6 55,690 29,340
Cash at bank and in hand 7,877 16,590
1,205,000 1,315,572
CREDITORS
Amounts falling due within one year 7 (1,124,435 ) (1,233,082 )
NET CURRENT ASSETS 80,565 82,490
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,233

84,125

CREDITORS
Amounts falling due after more than one year 8 (48,000 ) (48,000 )
NET ASSETS 33,233 36,125

CAPITAL AND RESERVES
Called up share capital 9 108 100
Retained earnings 10 33,125 36,025
SHAREHOLDERS' FUNDS 33,233 36,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 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.

GO BALANCE LTD (REGISTERED NUMBER: 09072046)

BALANCE SHEET - continued
28 DECEMBER 2023


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 17 September 2024 and were signed by:





Mr C S Kelly - Director


GO BALANCE LTD (REGISTERED NUMBER: 09072046)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 DECEMBER 2023

1. STATUTORY INFORMATION

Go Balance Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

GO BALANCE LTD (REGISTERED NUMBER: 09072046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 29 December 2022
and 28 December 2023 2,003
DEPRECIATION
At 29 December 2022 668
Charge for year 667
At 28 December 2023 1,335
NET BOOK VALUE
At 28 December 2023 668
At 28 December 2022 1,335

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 29 December 2022 300
Disposals (300 )
At 28 December 2023 -
NET BOOK VALUE
At 28 December 2023 -
At 28 December 2022 300

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 55,690 29,340

GO BALANCE LTD (REGISTERED NUMBER: 09072046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 19,939 19,976
Other loans 50,243 50,243
Trade creditors 1,047,259 1,081,258
Amounts owed to group undertakings - 300
Corporation Tax 3,699 7,996
Directors' current accounts 434 65,943
Accrued expenses 2,861 7,366
1,124,435 1,233,082

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 48,000 48,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000,000 Ordinary 0.000 1 108 100

75,000 Ordinary shares of 0.0001 each were allotted and fully paid for cash at par during the year.

10. RESERVES
Retained
earnings
£   

At 29 December 2022 36,025
Profit for the year 15,100
Dividends (18,000 )
At 28 December 2023 33,125