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Registration number: 05741825

Golding Property Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Golding Property Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Golding Property Services Limited

Company Information

Directors

Mr Brian David Price

Jack Virtue

Katherine Nelson

Lesley L Edwards

Company secretary

Mr Brian David Price

Registered office

62 Castle Street
Liverpool
Merseyside
L2 7LQ

Accountants

Phil Owen & Co Limited
Chartered Accountant
22 Pall Mall
Liverpool
Merseyside
L3 6AL

 

Golding Property Services Limited

(Registration number: 05741825)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

306,540

313,943

Investments

6

300,000

300,000

 

606,540

613,943

Current assets

 

Debtors

7

326,682

77,386

Cash at bank and in hand

 

45,277

2,967

 

371,959

80,353

Creditors: Amounts falling due within one year

8

(237,430)

(203,809)

Net current assets/(liabilities)

 

134,529

(123,456)

Total assets less current liabilities

 

741,069

490,487

Creditors: Amounts falling due after more than one year

8

(177,980)

(151,559)

Provisions for liabilities

(10,097)

(6,629)

Net assets

 

552,992

332,299

Capital and reserves

 

Called up share capital

2

2

Retained earnings

552,990

332,297

Shareholders' funds

 

552,992

332,299

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Golding Property Services Limited

(Registration number: 05741825)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 13 September 2024 and signed on its behalf by:
 

.........................................
Jack Virtue
Director

 

Golding Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
62 Castle Street
Liverpool
Merseyside
L2 7LQ

These financial statements were authorised for issue by the Board on 13 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company has not prepared group accounts as it has claimed exemption under s383 as a small group..

 

Golding Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Golding Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Asset class

Depreciation method and rate

Plant and Machinery

25% reducing balance

Fixtures and Fittings

20% reducing balance

Motor vehicles

25% on cost

Office equipment

20% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Golding Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Golding Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2023 - 14).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

71,000

71,000

At 31 March 2024

71,000

71,000

Amortisation

At 1 April 2023

71,000

71,000

At 31 March 2024

71,000

71,000

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

260,000

147,499

75,075

482,574

Additions

-

-

15,000

15,000

At 31 March 2024

260,000

147,499

90,075

497,574

Depreciation

At 1 April 2023

-

116,144

52,487

168,631

Charge for the year

-

11,124

11,279

22,403

At 31 March 2024

-

127,268

63,766

191,034

Carrying amount

At 31 March 2024

260,000

20,231

26,309

306,540

At 31 March 2023

260,000

31,355

22,588

313,943

Included within the net book value of land and buildings above is £260,000 (2023 - £260,000) in respect of freehold land and buildings.
 

 

Golding Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

300,000

300,000

Subsidiaries

£

Cost or valuation

At 1 April 2023

300,000

Provision

Carrying amount

At 31 March 2024

300,000

At 31 March 2023

300,000

7

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

10

223,109

-

Other debtors

 

103,573

77,386

   

326,682

77,386

 

Golding Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

33,692

33,692

Taxation and social security

 

139,573

136,207

Accruals and deferred income

 

3,000

5,000

Other creditors

 

61,165

28,910

 

237,430

203,809

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £33,692 (2023 - £33,692)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

71,284

53,935

Other non-current financial liabilities

 

106,696

97,624

 

177,980

151,559

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £71,284 (2023 - £53,935)

 

Golding Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

71,284

53,935

Current loans and borrowings

2024
£

2023
£

Bank borrowings

33,692

33,692

10

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr Brian David Price

Directors loans

399

(85,356)

115,322

30,366

2023

At 1 April 2022
£

Repayments by director
£

At 31 March 2023
£

Mr Brian David Price

Directors loans

601

(202)

399

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

76,504

65,904

Contributions paid to money purchase schemes

1,834

392

78,338

66,296

 

Golding Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Summary of transactions with other related parties

As at 31st March 2024 Treadstone 157 Limited owed Golding Property Services Limited £13,617 (2023 £500). Treadstone Limited is owned and controlled by Brian Price the sole shareholder of Golding Property Services Limited.

As at 31st March 2024 St George Luxury Developments Limited owed Golding Property Services Limited £5000 (2023 £0). St George Luxury Developments Limited is jointly owned and controlled by Brian Price & Michael Bowyer.

As at 31st March 2024 BP Developments (NW) Limited owed Golding Property Services Limited £35,000 (2023 £0). BP Developments (NW) Limited owned and controlled by Brian Price.

As at 31st March 2024 Golding Property Services Limited owed Immedi-let Limited £15,291 (2023 £0). Brian Price was a director at the time of the transfers between Immedi-let Limited and Golding Property Services Limited.