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REGISTERED NUMBER: 06434357 (England and Wales)














Financial Statements

for the Year Ended 31 March 2024

for

Goodwin Corporation Limited

Goodwin Corporation Limited (Registered number: 06434357)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Goodwin Corporation Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N J Goodwin
M F Goodwin





SECRETARY: M D Goodwin





REGISTERED OFFICE: Carlton House
Gores road
Knowsley Industrial Estate
Liverpool
Merseyside
L33 7XS





REGISTERED NUMBER: 06434357 (England and Wales)





AUDITORS: SB&P
Chartered Accountants & Statutory Auditors
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

Goodwin Corporation Limited (Registered number: 06434357)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,659 65,981

CURRENT ASSETS
Debtors 5 210,591 205,701
Cash at bank 442,712 428,551
653,303 634,252
CREDITORS
Amounts falling due within one year 6 26,206 24,240
NET CURRENT ASSETS 627,097 610,012
TOTAL ASSETS LESS CURRENT
LIABILITIES

675,756

675,993

CREDITORS
Amounts falling due after more than one
year

7

(55,979

)

(61,063

)

PROVISIONS FOR LIABILITIES (1,459 ) (1,459 )
NET ASSETS 618,318 613,471

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 618,218 613,371
SHAREHOLDERS' FUNDS 618,318 613,471

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 22 October 2024 and were signed on its behalf by:





N J Goodwin - Director


Goodwin Corporation Limited (Registered number: 06434357)

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


1. STATUTORY INFORMATION

Goodwin Corporation 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

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.
Plant and machinery - 20% on cost
Motor vehicles - 25% on reducing balance

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.

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.

Goodwin Corporation Limited (Registered number: 06434357)

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


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 10,251 62,022 72,273
DEPRECIATION
At 1 April 2023 5,357 935 6,292
Charge for year 2,050 15,272 17,322
At 31 March 2024 7,407 16,207 23,614
NET BOOK VALUE
At 31 March 2024 2,844 45,815 48,659
At 31 March 2023 4,894 61,087 65,981

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 62,022
DEPRECIATION
At 1 April 2023 935
Charge for year 15,272
At 31 March 2024 16,207
NET BOOK VALUE
At 31 March 2024 45,815
At 31 March 2023 61,087

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 13,047 16,150
Amounts owed by group undertakings 197,544 171,991
Other debtors - 17,560
210,591 205,701

Goodwin Corporation Limited (Registered number: 06434357)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 5,084 2,856
Trade creditors 5,121 14,659
Taxation and social security 8,767 1,068
Other creditors 7,234 5,657
26,206 24,240

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 55,979 61,063

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Suzanne Draper FCCA ACA (Senior Statutory Auditor)
for and on behalf of SB&P

10. POST BALANCE SHEET EVENTS

On 1 April 2024, the trade and assets of Goodwin Corporation were passed to a group company, Standard Fuel Oils Limited.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Standard Group Holdings Limited.

12. PARENT CONSOLIDATION

The company is included within the consolidated financial statements of Standard Group Holdings Ltd the registered office of which is Carlton House, Gores Lane, Knowsley Industrial Estate, Liverpool, L33 7XS.