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Company No: 07128749 (England and Wales)

GOLD AND TIMES LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

GOLD AND TIMES LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

GOLD AND TIMES LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
GOLD AND TIMES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTOR Mr J Whitehead
REGISTERED OFFICE 29 The Market Hall
Croft Street
Darwen
BB3 1BH
England
United Kingdom
BUSINESS ADDRESS 29 The Market Hall
Croft Street
Darwen
BB3 1BH
England
United Kingdom
COMPANY NUMBER 07128749 (England and Wales)
CHARTERED ACCOUNTANTS Barlow Andrews LLP
Carlyle House
78 Chorley New Road
Bolton
BANKERS Santander Business Banking
Bridle Road Bootle
Merseyside
L304GB
GOLD AND TIMES LIMITED

BALANCE SHEET

As at 30 April 2024
GOLD AND TIMES LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 24,564 32,337
24,564 32,337
Current assets
Stocks 257,657 244,308
Debtors 5 18,223 21,424
Cash at bank and in hand 59,068 36,215
334,948 301,947
Creditors: amounts falling due within one year 6 ( 100,677) ( 62,803)
Net current assets 234,271 239,144
Total assets less current liabilities 258,835 271,481
Creditors: amounts falling due after more than one year 7 ( 10,646) ( 20,919)
Net assets 248,189 250,562
Capital and reserves
Called-up share capital 2 2
Profit and loss account 248,187 250,560
Total shareholders' funds 248,189 250,562

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Gold And Times Limited (registered number: 07128749) were approved and authorised for issue by the Director on 08 October 2024. They were signed on its behalf by:

Mr J Whitehead
Director
GOLD AND TIMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
GOLD AND TIMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gold And Times Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 29 The Market Hall, Croft Street, Darwen, BB3 1BH, England, United Kingdom. The principal place of business is 29 The Market Hall, Croft Street, Darwen, BB3 1BH, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 7 7

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 120,000 120,000
At 30 April 2024 120,000 120,000
Accumulated amortisation
At 01 May 2023 120,000 120,000
At 30 April 2024 120,000 120,000
Net book value
At 30 April 2024 0 0
At 30 April 2023 0 0

4. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 May 2023 41,353 14,438 4,834 60,625
Additions 0 0 640 640
Disposals 0 0 ( 3,584) ( 3,584)
At 30 April 2024 41,353 14,438 1,890 57,681
Accumulated depreciation
At 01 May 2023 10,338 13,821 4,129 28,288
Charge for the financial year 7,754 142 517 8,413
Disposals 0 0 ( 3,584) ( 3,584)
At 30 April 2024 18,092 13,963 1,062 33,117
Net book value
At 30 April 2024 23,261 475 828 24,564
At 30 April 2023 31,015 617 705 32,337

5. Debtors

2024 2023
£ £
Other debtors 18,223 21,424

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 9,727
Trade creditors 28,233 5,396
Taxation and social security 58,026 43,138
Other creditors 4,418 4,542
100,677 62,803

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 10,646 20,919

8. Related party transactions

Transactions with the entity's director

The company has advanced £15,800 to the director during the year (2023 : £18,742). This amount was paid post year end. There was no interest charged on the outstanding amount.