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Registered number: 04391990









GUY GOODFELLOW LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
GUY GOODFELLOW LIMITED
 
 
COMPANY INFORMATION


Directors
Mr G Goodfellow 
Mr J Anderson 




Registered number
04391990



Registered office
13 Langton Street
Chelsea

London

SW10 0JL




Accountants
Ashon
Chartered Accountants

125 Knoll Crescent

Northwood

Middlesex

HA6 1HX




Bankers
Royal Bank of Scotland
28 Cavendish Square

London

W1G 0DB





 
GUY GOODFELLOW LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GUY GOODFELLOW LIMITED
FOR THE YEAR ENDED 30 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Guy Goodfellow Limited for the year ended 30 April 2024 which comprise  the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Guy Goodfellow Limited, as a body, in accordance with the terms of our engagement letter dated 5 April 2017Our work has been undertaken solely to prepare for your approval the financial statements of Guy Goodfellow Limited and state those matters that we have agreed to state to the Board of Directors of Guy Goodfellow Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Guy Goodfellow Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Guy Goodfellow Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Guy Goodfellow Limited. You consider that Guy Goodfellow Limited is exempt from the statutory audit requirement for the year.

  



Ashon
Chartered Accountants
125 Knoll Crescent
Northwood
Middlesex
HA6 1HX
10 October 2024
Page 1

 
GUY GOODFELLOW LIMITED
REGISTERED NUMBER: 04391990

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
27,333
42,806

  
27,333
42,806

Current assets
  

Stocks
  
112,584
135,758

Debtors: amounts falling due within one year
 5 
516,528
275,011

Cash at bank and in hand
 6 
657,292
289,008

  
1,286,404
699,777

Creditors: amounts falling due within one year
 7 
(797,215)
(330,428)

Net current assets
  
 
 
489,189
 
 
369,349

Total assets less current liabilities
  
516,522
412,155

  

Net assets
  
516,522
412,155

Page 2

 
GUY GOODFELLOW LIMITED
REGISTERED NUMBER: 04391990
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
800
800

Profit and loss account
  
515,722
411,355

  
516,522
412,155


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 October 2024.






................................................
Mr G Goodfellow
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
GUY GOODFELLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The company is a private company lmited by share capital, incorporated in England & Wales. The
company number and registered office address are:
Company number:                  04391990
Registered office address: 13 Langton Street
                                             Chelsea
                                             London
                                             SW10 0J

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
GUY GOODFELLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Page 5

 
GUY GOODFELLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
 - over the term of the lease
Motor vehicles
-
25%
 - straight line
Fixtures & fittings
-
20%
 - reducing balance
Office equipment
-
20%
 - reducing balance
Computer equipment
-
20%
 - reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
GUY GOODFELLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 8).


4.


Tangible fixed assets





S/Term Leasehold Property
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2023
46,875
15,950
144,868
207,693


Additions
-
-
3,304
3,304


Disposals
-
-
(92,569)
(92,569)



At 30 April 2024

46,875
15,950
55,603
118,428



Depreciation


At 1 May 2023
46,874
4,800
113,213
164,887


Charge for the year on owned assets
-
2,400
4,646
7,046


Disposals
-
-
(80,838)
(80,838)



At 30 April 2024

46,874
7,200
37,021
91,095



Net book value



At 30 April 2024
1
8,750
18,582
27,333



At 30 April 2023
1
11,150
31,655
42,806

Page 7

 
GUY GOODFELLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Trade debtors
147,584
149,052

Prepayments and accrued income
368,944
125,959

516,528
275,011



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
657,292
289,008

657,292
289,008



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
58,389
16,423

Corporation tax
90,917
46,341

Other taxation and social security
80,042
26,643

Other creditors
88,020
43,332

Accruals and deferred income
479,847
197,689

797,215
330,428


The company's bank facility is secured by the bank's standard fixed and floating charge over all the
assets and undertakings of the company. The aggregate amount of debts secured is £Nil (2023: £Nil).


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £12,119 (2023 - £11,405). Contributions totalling £2,380 (2023 - £2,101) were payable to the fund at the reporting date and are included in creditors.

 
Page 8