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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

GOODROWES OF CHICHESTER LIMITED

GOODROWES OF CHICHESTER LIMITED (REGISTERED NUMBER: 00383209)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GOODROWES OF CHICHESTER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: D A Sadler
D Sadler



SECRETARY: K Lane



REGISTERED OFFICE: 6 The Hornet
Chichester
West Sussex
PO19 7JQ



REGISTERED NUMBER: 00383209 (England and Wales)



ACCOUNTANTS: Evans Weir
The Victoria
25 St Pancras
Chichester
West Sussex
PO19 7LT



BANKERS: Barclays Bank Plc
74 - 75 East Street
Chichester
West Sussex
PO19 1HR

GOODROWES OF CHICHESTER LIMITED (REGISTERED NUMBER: 00383209)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,757,177 2,765,716

CURRENT ASSETS
Stocks 208,993 215,109
Debtors 5 77,600 97,159
Cash at bank and in hand 39,548 123,694
326,141 435,962
CREDITORS
Amounts falling due within one year 6 244,944 355,497
NET CURRENT ASSETS 81,197 80,465
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,838,374

2,846,181

CREDITORS
Amounts falling due after more than one
year

7

(17,615

)

(27,496

)

PROVISIONS FOR LIABILITIES (423,893 ) (423,893 )
NET ASSETS 2,396,866 2,394,792

CAPITAL AND RESERVES
Called up share capital 10,745 10,745
Revaluation reserve 8 1,790,264 1,790,264
Capital redemption reserve (8,265 ) (8,265 )
Retained earnings 604,122 602,048
SHAREHOLDERS' FUNDS 2,396,866 2,394,792

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

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

GOODROWES OF CHICHESTER LIMITED (REGISTERED NUMBER: 00383209)

BALANCE SHEET - continued
31ST 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 Board of Directors and authorised for issue on 24th September 2024 and were signed on its behalf by:




D A Sadler - Director



D Sadler - Director


GOODROWES OF CHICHESTER LIMITED (REGISTERED NUMBER: 00383209)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Goodrowes Of Chichester 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 as modified by the revaluation of certain assets.

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.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance and 10% 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.

Hire purchase and leasing commitments
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.

GOODROWES OF CHICHESTER LIMITED (REGISTERED NUMBER: 00383209)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1st January 2023 2,525,000 784,011 3,309,011
Additions - 1,116 1,116
Disposals - (10,895 ) (10,895 )
At 31st December 2023 2,525,000 774,232 3,299,232
DEPRECIATION
At 1st January 2023 - 543,295 543,295
Charge for year - 8,552 8,552
Eliminated on disposal - (9,792 ) (9,792 )
At 31st December 2023 - 542,055 542,055
NET BOOK VALUE
At 31st December 2023 2,525,000 232,177 2,757,177
At 31st December 2022 2,525,000 240,716 2,765,716

Cost or valuation at 31st December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 1996 273,173 - 273,173
Valuation in 2008 2,200,000 - 2,200,000
Cost 51,827 774,232 826,059
2,525,000 774,232 3,299,232

GOODROWES OF CHICHESTER LIMITED (REGISTERED NUMBER: 00383209)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

If land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 51,827 51,827

Freehold land and buildings were valued on an open market value basis on 20th November 2008 by Gilbert & Cleveland .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 70,217 87,189
Other debtors 7,383 9,970
77,600 97,159

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 31,567 145,107
Trade creditors 139,387 129,489
Taxation and social security 34,840 34,901
Other creditors 39,150 46,000
244,944 355,497

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,615 27,496

8. RESERVES
Revaluation
reserve
£   
At 1st January 2023
and 31st December 2023 1,790,264