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REGISTERED NUMBER: 12824866 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Goodwill Supply Chain Solutions Limited

Goodwill Supply Chain Solutions Limited (Registered number: 12824866)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Goodwill Supply Chain Solutions Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: Mr D R Pickard
Mr G L Tomkins
Mr L G Fassam
Mr J A Sheriff





REGISTERED OFFICE: 1056 Deer Park Road
Moulton Park
Northampton
Northamptonshire
NN3 6RX





REGISTERED NUMBER: 12824866 (England and Wales)





ACCOUNTANTS: Clifford Roberts
Chartered Accountants
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

Goodwill Supply Chain Solutions Limited (Registered number: 12824866)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 21,595 20,302
Debtors 4 458,329 481,928
Cash at bank and in hand 67,915 190,616
547,839 692,846
CREDITORS
Amounts falling due within one year 5 712,303 673,311
NET CURRENT (LIABILITIES)/ASSETS (164,464 ) 19,535
TOTAL ASSETS LESS CURRENT
LIABILITIES

(164,464

)

19,535

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (164,564 ) 19,435
SHAREHOLDERS' FUNDS (164,464 ) 19,535

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 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.

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 22 August 2024 and were signed on its behalf by:




Mr D R Pickard - Director



Mr G L Tomkins - Director


Goodwill Supply Chain Solutions Limited (Registered number: 12824866)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Goodwill Supply Chain Solutions 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 applicable United Kingdom accounting standards, including Financial Reporting Standard 102 section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102 section 1A") and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis.

The financial statements are presented in Sterling (£) and cover the period to 31st December each year.

Going concern
At the time of approving the financial statements, the directors have reasonable expectations that with the continued support of the group the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rental income from property leased under agreement is recognised in the statement of comprehensive income on a straight-line basis over the term of the agreement on an accruals basis, matching the income received to the period it relates, net of VAT and other sales taxes.

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.


Goodwill Supply Chain Solutions Limited (Registered number: 12824866)

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
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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 33 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 368,552 455,955
Amounts owed by group undertakings 972 100
Other debtors 88,805 25,873
458,329 481,928

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 66,245 21,670
Amounts owed to group undertakings 509,231 441,030
Taxation and social security 18,541 46,933
Other creditors 118,286 163,678
712,303 673,311

Goodwill Supply Chain Solutions Limited (Registered number: 12824866)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

6. FINANCIAL RISK MANAGEMENT

The company has some exposure to credit, liquidity and market risks, These risks are limited by the company's financial management policies and practices described below:

Credit risk
The company's exposure and it's customers credit worthiness is continually monitored so that any potential problems are detected at an early stage.

Liquidity risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities. Active management of the cash position is undertaken with future cash flows being reviewed to ensure that resources are available.

Market risk
There is a market risk associated with the fluctuation in demand for the products and services provided. Most of this is mitigated by monitoring the markets.

The company holds no derivative financial instruments at the year end.

7. CALLED UP SHARE CAPITAL

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

8. RELATED PARTY DISCLOSURES

During the year support costs totalling £99,001 (2022: £83,201) were charged from companies under common control. At the balance sheet date the company owed, in respect of those transactions, £9,755 (2022: £7,955).

All other material transactions are considered to be carried out under normal market conditions.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Goodwill Solutions (Holdings) C.I.C., this entity is a private company incorporated in England. The company's registered office address is 1056 Deer Park Road, Moulton Park, Northampton, NN3 6RX.