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Registration number: 11418904

Goddards Portfolio Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Goddards Portfolio Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Goddards Portfolio Ltd

Company Information

Directors

P N Goddard

Y L Goddard

Registered office

Maria House
35 Millers Road
Brighton
BN1 5NP

Accountants

Chisnall Comer Ismail and Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

Goddards Portfolio Ltd

(Registration number: 11418904)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

335,000

335,000

Current assets

 

Debtors

5

5,189

5,189

Cash at bank and in hand

 

-

45

 

5,189

5,234

Creditors: Amounts falling due within one year

6

(1,700)

(3,572)

Net current assets

 

3,489

1,662

Total assets less current liabilities

 

338,489

336,662

Creditors: Amounts falling due after more than one year

6

(263,280)

(260,480)

Provisions for liabilities

(18,244)

(18,244)

Net assets

 

56,965

57,938

Capital and reserves

 

Called up share capital

10

2

2

Other reserves

77,776

77,776

Retained earnings

(20,813)

(19,840)

Shareholders' funds

 

56,965

57,938

For the financial year ending 30 June 2023 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.

 

Goddards Portfolio Ltd

(Registration number: 11418904)
Balance Sheet as at 30 June 2023

Approved and authorised by the Board on 26 September 2024 and signed on its behalf by:



 

.........................................

P N Goddard

Director

 

Goddards Portfolio Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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:
Maria House
35 Millers Road
Brighton
BN1 5NP

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.

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 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.

 

Goddards Portfolio Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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:

Investment property

Investment property is carried at fair value. Gains are recognised in profit or loss. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 1).

 

Goddards Portfolio Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2022

335,000

335,000

At 30 June 2023

335,000

335,000

Depreciation

Carrying amount

At 30 June 2023

335,000

335,000

At 30 June 2022

335,000

335,000

Included within the net book value of land and buildings above is £335,000 (2022 - £335,000) in respect of freehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Other debtors

5,189

5,189

 

5,189

5,189

 

Goddards Portfolio Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

-

2,722

Accruals and deferred income

 

1,700

850

 

1,700

3,572

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

263,280

260,480

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

263,280

260,480

Current loans and borrowings

2023
£

2022
£

Other borrowings

-

2,722

8

Dividends

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Other reserves
£

Retained earnings
£

Surplus/deficit on revaluation of other assets

(18,244)

18,244

10

Share capital

Allotted, called up and fully paid shares

 

Goddards Portfolio Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

2023

2022

No.

£

No.

£

Ordinary Share Capital of £1 each

2

2

2

2