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REGISTERED NUMBER: 04442522 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Goodwood Joinery Limited

Goodwood Joinery Limited (Registered number: 04442522)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Goodwood Joinery Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: M Sandifer
P C Sandifer





SECRETARY: M Sandifer





REGISTERED OFFICE: 6 High Street
Wheathampstead
Hertfordshire
AL4 8AA





REGISTERED NUMBER: 04442522 (England and Wales)





ACCOUNTANTS: Fenlon & Co
Chartered Certified Accountants
6 High Street
Wheathampstead
Hertfordshire
AL4 8AA

Goodwood Joinery Limited (Registered number: 04442522)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 12,862 17,150
12,863 17,151

CURRENT ASSETS
Stocks 4,631 4,474
Debtors 6 4,806 12,574
Cash at bank 138,667 125,524
148,104 142,572
CREDITORS
Amounts falling due within one year 7 18,792 21,907
NET CURRENT ASSETS 129,312 120,665
TOTAL ASSETS LESS CURRENT
LIABILITIES

142,175

137,816

PROVISIONS FOR LIABILITIES 8 2,400 3,200
NET ASSETS 139,775 134,616

CAPITAL AND RESERVES
Called up share capital 60,000 60,000
Retained earnings 79,775 74,616
SHAREHOLDERS' FUNDS 139,775 134,616

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Goodwood Joinery Limited (Registered number: 04442522)

Balance Sheet - continued
30 June 2024


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 Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:





P C Sandifer - Director


Goodwood Joinery Limited (Registered number: 04442522)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Gooodwood Joinery Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is Rivermill House, 6 High Street, Wheathampstead, Herts, AL4 8AA.

The financial statements are presented in Sterling, which is the functional currency of the company.

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 & revenue recognition
Turnover represents fair value for amounts receivable for goods and services net of VAT and trade discounts having regard for the fulfilment of contractual obligations.

Intangible fixed assets
Intangible fixed assets are stated at cost less amortisation. Goodwill is amortised at 10% per annum, straight line method. Up to 1st July 2010, Goodwill was amortised at 5%.

Tangible fixed assets & depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Furniture and Fittings - 25% reducing balance
Plant and Equipment - 25% reducing balance
Motor Vehicles - 25% reducing balance.

Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.


Goodwood Joinery Limited (Registered number: 04442522)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Dividends
Final ordinary dividends payable to shareholders of the Company are recognised in the period that they are approved by the shareholders. Interim ordinary dividends are recognised in the period that they are paid.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 40,000
AMORTISATION
At 1 July 2023
and 30 June 2024 39,999
NET BOOK VALUE
At 30 June 2024 1
At 30 June 2023 1

Goodwood Joinery Limited (Registered number: 04442522)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2023
and 30 June 2024 51,681 11,700 40,619 104,000
DEPRECIATION
At 1 July 2023 47,511 11,419 27,920 86,850
Charge for year 1,043 70 3,175 4,288
At 30 June 2024 48,554 11,489 31,095 91,138
NET BOOK VALUE
At 30 June 2024 3,127 211 9,524 12,862
At 30 June 2023 4,170 281 12,699 17,150

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 155 8,969
Prepayments and accrued income 4,651 3,605
4,806 12,574

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 2,935 7,352
Tax 7,913 8,243
Social security and other taxes 4,711 3,179
Directors' loan accounts 1,830 1,750
Accrued expenses 1,403 1,383
18,792 21,907

8. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 2,400 3,200

Goodwood Joinery Limited (Registered number: 04442522)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2023 3,200
Released during year (800 )
Balance at 30 June 2024 2,400

Deferred tax is provided because capital allowances are greater than the depreciation provided in the Accounts.