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Registered number: 11747548
Goal Light Tech Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11747548
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 8,850 8,437
Tangible Assets 5 1,120 1,493
9,970 9,930
CURRENT ASSETS
Debtors 6 2,100 536
Cash at bank and in hand 560 780
2,660 1,316
Creditors: Amounts Falling Due Within One Year 7 (22,731 ) (20,205 )
NET CURRENT ASSETS (LIABILITIES) (20,071 ) (18,889 )
TOTAL ASSETS LESS CURRENT LIABILITIES (10,101 ) (8,959 )
NET LIABILITIES (10,101 ) (8,959 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (10,201 ) (9,059 )
SHAREHOLDERS' FUNDS (10,101) (8,959)
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M S Press
Director
18/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Goal Light Tech Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11747548 . The registered office is Henstaff Court, Llantrisant Road, Groesfaen, CF72 8NG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At 31 January 2024 the company had net liabilities of £10,101 (2023: £8,959). However the company received financial support from the director of the company, and continues to meet liabilities as they fall due. Therefore the going concern basis is considered appropriate.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Patents It is amortised to profit and loss account over its estimated economic life of 10 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on Reducing Balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Other Intangible Assets
£
Cost
As at 1 February 2023 11,298
Additions 1,715
As at 31 January 2024 13,013
Amortisation
As at 1 February 2023 2,861
Provided during the period 1,302
As at 31 January 2024 4,163
...CONTINUED
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Page 4
Net Book Value
As at 31 January 2024 8,850
As at 1 February 2023 8,437
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 February 2023 1,990
As at 31 January 2024 1,990
Depreciation
As at 1 February 2023 497
Provided during the period 373
As at 31 January 2024 870
Net Book Value
As at 31 January 2024 1,120
As at 1 February 2023 1,493
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,100 -
Other debtors - 536
2,100 536
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 201 (302 )
Other creditors 22,265 20,507
Taxation and social security 265 -
22,731 20,205
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4