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REGISTERED NUMBER: 11979392 (England and Wales)















Goodley Financial Solutions Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






Goodley Financial Solutions Limited (Registered number: 11979392)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Goodley Financial Solutions Limited

Company Information
for the Year Ended 31 March 2024







Directors: S Goodley
Mrs T J Goodley





Registered office: The Street
Acle
Norwich
Norfolk
NR13 3DY





Registered number: 11979392 (England and Wales)





Accountants: Fairhead Bradford
5 Queen Street
Great Yarmouth
Norfolk
NR30 2QP

Goodley Financial Solutions Limited (Registered number: 11979392)

Statement of Financial Position
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
Fixed assets
Intangible assets 4 353,789 388,853
Tangible assets 5 3,052 410
356,841 389,263

Current assets
Debtors 6 8,463 14,608
Cash at bank 51,485 34,197
59,948 48,805
Creditors
Amounts falling due within one year 7 93,922 85,911
Net current liabilities (33,974 ) (37,106 )
Total assets less current liabilities 322,867 352,157

Creditors
Amounts falling due after more than one
year

8

(192,810

)

(235,685

)

Provisions for liabilities (705 ) -
Net assets 129,352 116,472

Capital and reserves
Called up share capital 100 100
Share premium 82,954 82,954
Retained earnings 46,298 33,418
129,352 116,472

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

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

Goodley Financial Solutions Limited (Registered number: 11979392)

Statement of Financial Position - continued
31 March 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 8 October 2024 and were signed on its behalf by:





S Goodley - Director


Goodley Financial Solutions Limited (Registered number: 11979392)

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

1. Statutory information

Goodley Financial 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill has arisen on business acquisition and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. The goodwill is being amortised on a straight line basis over 10 to 15 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 20% on reducing balance

Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

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 statement of financial position date.


Goodley Financial Solutions Limited (Registered number: 11979392)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 April 2023 505,432
Additions 1,500
At 31 March 2024 506,932
Amortisation
At 1 April 2023 116,579
Amortisation for year 36,564
At 31 March 2024 153,143
Net book value
At 31 March 2024 353,789
At 31 March 2023 388,853

Goodley Financial Solutions Limited (Registered number: 11979392)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 April 2023 - - 969 969
Additions 1,359 560 1,740 3,659
At 31 March 2024 1,359 560 2,709 4,628
Depreciation
At 1 April 2023 - - 559 559
Charge for year 340 140 537 1,017
At 31 March 2024 340 140 1,096 1,576
Net book value
At 31 March 2024 1,019 420 1,613 3,052
At 31 March 2023 - - 410 410

6. Debtors: amounts falling due within one year
31/3/24 31/3/23
£    £   
Trade debtors 8,463 14,608

7. Creditors: amounts falling due within one year
31/3/24 31/3/23
£    £   
Taxation and social security 27,483 24,158
Other creditors 66,439 61,753
93,922 85,911

8. Creditors: amounts falling due after more than one year
31/3/24 31/3/23
£    £   
Other creditors 192,810 235,685