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REGISTERED NUMBER: 03302441 (England and Wales)















GO M.A.D. LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






GO M.A.D. LIMITED (REGISTERED NUMBER: 03302441)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


GO M.A.D. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: A Gilbert
Mrs O H Gilbert
C D H Mendes





REGISTERED OFFICE: 4 Parkside Court
Greenhough Road
Lichfield
Staffordshire
WS13 7FE





REGISTERED NUMBER: 03302441 (England and Wales)





ACCOUNTANTS: Inspired Accountants Limited
Chartered Certified Accountants
4 Parkside Court
Greenhough Road
Lichfield
Staffordshire
WS13 7FE

GO M.A.D. LIMITED (REGISTERED NUMBER: 03302441)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,100,493 2,150,699
Tangible assets 5 85,353 89,633
2,185,846 2,240,332

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 6 350,192 343,033
Cash at bank and in hand 5,782 190,360
360,974 538,393
CREDITORS
Amounts falling due within one year 7 160,007 178,689
NET CURRENT ASSETS 200,967 359,704
TOTAL ASSETS LESS CURRENT LIABILITIES 2,386,813 2,600,036

CREDITORS
Amounts falling due after more than one year 8 (87,500 ) (152,089 )

PROVISIONS FOR LIABILITIES (12,662 ) (9,757 )
NET ASSETS 2,286,651 2,438,190

CAPITAL AND RESERVES
Called up share capital 105 100
Share premium 29,695 29,695
Retained earnings 2,256,851 2,408,395
SHAREHOLDERS' FUNDS 2,286,651 2,438,190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

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

GO M.A.D. LIMITED (REGISTERED NUMBER: 03302441)

BALANCE SHEET - continued
31 JANUARY 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 3 September 2024 and were signed on its behalf by:





Mrs O H Gilbert - Director


GO M.A.D. LIMITED (REGISTERED NUMBER: 03302441)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Go M.A.D. 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

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.

GO M.A.D. LIMITED (REGISTERED NUMBER: 03302441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 2,538,637
AMORTISATION
At 1 February 2023 387,938
Charge for year 50,206
At 31 January 2024 438,144
NET BOOK VALUE
At 31 January 2024 2,100,493
At 31 January 2023 2,150,699

GO M.A.D. LIMITED (REGISTERED NUMBER: 03302441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 221,219 44,022 186,192 451,433
Additions 4,126 - 2,417 6,543
At 31 January 2024 225,345 44,022 188,609 457,976
DEPRECIATION
At 1 February 2023 151,404 30,093 180,303 361,800
Charge for year 4,249 3,483 3,091 10,823
At 31 January 2024 155,653 33,576 183,394 372,623
NET BOOK VALUE
At 31 January 2024 69,692 10,446 5,215 85,353
At 31 January 2023 69,815 13,929 5,889 89,633

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2023
and 31 January 2024 44,022
DEPRECIATION
At 1 February 2023 30,093
Charge for year 3,483
At 31 January 2024 33,576
NET BOOK VALUE
At 31 January 2024 10,446
At 31 January 2023 13,929

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 250,685 168,851
Other debtors 99,507 174,182
350,192 343,033

GO M.A.D. LIMITED (REGISTERED NUMBER: 03302441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts - 5,676
Trade creditors 4,477 9,478
Taxation and social security 84,955 43,943
Other creditors 20,575 69,592
160,007 178,689

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 87,500 137,500
Hire purchase contracts - 14,589
87,500 152,089

9. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr and Mrs Gilbert who are the sole directors and shareholders of the company.