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REGISTERED NUMBER: 12166940 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GOODCO GROUP LTD

GOODCO GROUP LTD (REGISTERED NUMBER: 12166940)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GOODCO GROUP LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTOR: C S W Hopwood





SECRETARY:





REGISTERED OFFICE: 1 Pittman Way
Fulwood
Preston
PR2 9ZD





REGISTERED NUMBER: 12166940 (England and Wales)





ACCOUNTANTS: MBE Accountancy Ltd
Chartered Certified Practice
10 High Street
Windermere
Cumbria
LA231AF

GOODCO GROUP LTD (REGISTERED NUMBER: 12166940)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,007 3,336
Tangible assets 5 2,074,599 2,093,334
2,077,606 2,096,670

CURRENT ASSETS
Stocks 231,075 375,668
Debtors 6 759,863 660,461
Cash at bank 1,224,129 708,203
2,215,067 1,744,332
CREDITORS
Amounts falling due within one year 7 787,642 1,159,669
NET CURRENT ASSETS 1,427,425 584,663
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,505,031

2,681,333

CREDITORS
Amounts falling due after more than one year 8 (539,862 ) (277,224 )

PROVISIONS FOR LIABILITIES (605,353 ) (471,264 )
NET ASSETS 2,359,816 1,932,845

CAPITAL AND RESERVES
Called up share capital 11 11
Share premium 60,004 60,004
Retained earnings 2,299,801 1,872,830
SHAREHOLDERS' FUNDS 2,359,816 1,932,845

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.

GOODCO GROUP LTD (REGISTERED NUMBER: 12166940)

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.

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 19 September 2024 and were signed by:





C S W Hopwood - Director


GOODCO GROUP LTD (REGISTERED NUMBER: 12166940)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

GoodCo Group 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - in accordance with the lease
Plant and machinery - at variable rates on different policies
Motor vehicles - at variable rates on different policies
Computer equipment - 30% 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.


GOODCO GROUP LTD (REGISTERED NUMBER: 12166940)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 21 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 4,825
Additions 170
At 31 December 2023 4,995
AMORTISATION
At 1 January 2023 1,489
Charge for year 499
At 31 December 2023 1,988
NET BOOK VALUE
At 31 December 2023 3,007
At 31 December 2022 3,336

GOODCO GROUP LTD (REGISTERED NUMBER: 12166940)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 37,124 2,129,266 52,433 6,819 2,225,642
Additions - 460,563 - 6,622 467,185
Disposals - (267,957 ) - - (267,957 )
At 31 December 2023 37,124 2,321,872 52,433 13,441 2,424,870
DEPRECIATION
At 1 January 2023 - 122,427 8,516 1,365 132,308
Charge for year 3,712 216,827 3,766 2,620 226,925
Eliminated on disposal - (8,962 ) - - (8,962 )
At 31 December 2023 3,712 330,292 12,282 3,985 350,271
NET BOOK VALUE
At 31 December 2023 33,412 1,991,580 40,151 9,456 2,074,599
At 31 December 2022 37,124 2,006,839 43,917 5,454 2,093,334

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023 373,482
Additions 239,300
At 31 December 2023 612,782
DEPRECIATION
At 1 January 2023 46,832
Charge for year 40,642
At 31 December 2023 87,474
NET BOOK VALUE
At 31 December 2023 525,308
At 31 December 2022 326,650

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 444,524 373,410
Other debtors 315,339 287,051
759,863 660,461

GOODCO GROUP LTD (REGISTERED NUMBER: 12166940)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 136,646 93,973
Trade creditors 166,750 580,195
Taxation and social security 227,980 6,457
Other creditors 256,266 479,044
787,642 1,159,669

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 198,749 142,550
Other creditors 341,113 134,674
539,862 277,224

9. 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:

31.12.23 31.12.22
£    £   
C S W Hopwood
Balance outstanding at start of year (285,246 ) (157,925 )
Amounts advanced 157,981 -
Amounts repaid (134,167 ) (127,321 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (261,432 ) (285,246 )

10. ULTIMATE CONTROLLING PARTY

The controlling party is C S W Hopwood.