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REGISTERED NUMBER: 10183330 (England and Wales)















Goldwell Manufacturing Services Limited

Unaudited Financial Statements

for the year ended

31 October 2023






Goldwell Manufacturing Services Limited (Registered number: 10183330)

Contents of the Financial Statements
for the year ended 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6

Chartered Accountants' Report 7

Goldwell Manufacturing Services Limited

Company Information
for the year ended 31 October 2023







DIRECTORS: M S Beck
M J Edwards





REGISTERED OFFICE: Unit C
Salmon Road
Great Yarmouth
Norfolk
NR30 3QS





REGISTERED NUMBER: 10183330 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Englands Lane Business Centre
47 Englands Lane
Gorleston
Great Yarmouth
Norfolk
NR31 6BE

Goldwell Manufacturing Services Limited (Registered number: 10183330)

Balance Sheet
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 381,435 381,802

CURRENT ASSETS
Stocks 6 140,000 280,000
Debtors 7 160,281 243,355
Cash at bank 279,879 42,004
580,160 565,359
CREDITORS
Amounts falling due within one year 8 (439,258 ) (522,770 )
NET CURRENT ASSETS 140,902 42,589
TOTAL ASSETS LESS CURRENT LIABILITIES 522,337 424,391

PROVISIONS FOR LIABILITIES (92,113 ) (72,543 )
NET ASSETS 430,224 351,848

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 430,124 351,748
SHAREHOLDERS' FUNDS 430,224 351,848

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

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 25 October 2024 and were signed on its behalf by:




M S Beck - Director



M J Edwards - Director


Goldwell Manufacturing Services Limited (Registered number: 10183330)

Notes to the Financial Statements
for the year ended 31 October 2023


1. STATUTORY INFORMATION

Goldwell Manufacturing Services 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

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 - 25% on reducing balance and 12.5% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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

Goldwell Manufacturing Services Limited (Registered number: 10183330)

Notes to the Financial Statements - continued
for the year ended 31 October 2023


3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 9 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 585,203 571 39,481 3,370 628,625
Additions 122,980 843 - 306 124,129
Disposals (62,080 ) - - - (62,080 )
At 31 October 2023 646,103 1,414 39,481 3,676 690,674
DEPRECIATION
At 1 November 2022 228,431 141 15,674 2,577 246,823
Charge for year 63,471 138 5,952 615 70,176
Eliminated on disposal (7,760 ) - - - (7,760 )
At 31 October 2023 284,142 279 21,626 3,192 309,239
NET BOOK VALUE
At 31 October 2023 361,961 1,135 17,855 484 381,435
At 31 October 2022 356,772 430 23,807 793 381,802

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 November 2022 267,200
Reclassification/transfer (131,000 )
At 31 October 2023 136,200
DEPRECIATION
At 1 November 2022 52,006
Charge for year 17,025
Reclassification/transfer 4,744
At 31 October 2023 73,775
NET BOOK VALUE
At 31 October 2023 62,425
At 31 October 2022 215,194

Goldwell Manufacturing Services Limited (Registered number: 10183330)

Notes to the Financial Statements - continued
for the year ended 31 October 2023


6. STOCKS
2023 2022
£    £   
Stocks 50,000 100,000
Work-in-progress 90,000 180,000
140,000 280,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 136,870 115,519
VAT 22,573 76,573
Prepayments and accrued income - 50,606
Prepayments 838 657
160,281 243,355

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 39,239
Trade creditors 80,530 183,459
Corporation tax 46,345 624
Social security and other taxes 11,515 18,312
Other creditors 3,037 4,134
Directors' current accounts 263,820 235,087
Accrued expenses 2,011 1,915
Deferred government grants 32,000 40,000
439,258 522,770

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
60 Ordinary A £1 60 60
40 Ordinary B £1 40 40
100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
M S Beck
Balance outstanding at start of year (157,071 ) (101,354 )
Amounts advanced - 517
Amounts repaid (26,053 ) (56,234 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (183,124 ) (157,071 )

Goldwell Manufacturing Services Limited (Registered number: 10183330)

Notes to the Financial Statements - continued
for the year ended 31 October 2023


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

M J Edwards
Balance outstanding at start of year (78,016 ) (57,755 )
Amounts advanced 5,000 -
Amounts repaid (7,680 ) (20,261 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (80,696 ) (78,016 )

The loans are provided on an interest free basis with no set repayment terms.

11. DEFERRED INCOME

Included in other creditors is £32,000 (2022 - £40,000) received from the New Anglia Local Enterprise Partnership Growing Business Fund towards the cost of a new machine. The grant is being released to profit and loss over a period of 84 months as set out in the terms of the grant, commencing in the year ended 31 October 2019.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Goldwell Manufacturing Services Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Goldwell Manufacturing Services Limited for the year ended 31 October 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Goldwell Manufacturing Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Goldwell Manufacturing Services Limited and state those matters that we have agreed to state to the Board of Directors of Goldwell Manufacturing Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Goldwell Manufacturing Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Goldwell Manufacturing Services 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 Goldwell Manufacturing Services Limited. You consider that Goldwell Manufacturing Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Goldwell Manufacturing Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts
Chartered Accountants
Englands Lane Business Centre
47 Englands Lane
Gorleston
Great Yarmouth
Norfolk
NR31 6BE


25 October 2024