Number
11494977
GO2E LTD
Filleted Accounts
31 March 2024
GO2E LTD
Registered number: 11494977
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 966 67
966 67
Current assets
Debtors 4 48,971 35,896
Cash at bank and in hand 151,518 116,986
200,489 152,882
Creditors: amounts falling due within one year 5 (61,807) (29,986)
Net current assets 138,682 122,896
Total assets less current liabilities 139,648 122,963
Provisions for liabilities (184) (13)
Net assets 139,464 122,950
Capital and reserves
Called up share capital 100 100
Profit and loss account 139,364 122,850
Shareholders' funds 139,464 122,950
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs. Florence Estella Tamasine Barnes
Director
Approved by the board on 30 October 2024
GO2E LTD
Notes to the Accounts
for the period from 1 September 2023 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computers over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Computers Total
£ £
Cost
At 1 September 2023 3,932 3,932
Additions 1,050 1,050
At 31 March 2024 4,982 4,982
Depreciation
At 1 September 2023 3,865 3,865
Charge for the period 151 151
At 31 March 2024 4,016 4,016
Net book value
At 31 March 2024 966 966
At 31 August 2023 67 67
4 Debtors 2024 2023
£ £
Trade debtors 21,174 18,208
Mr. David Barnes 15,267 5,131
Mrs. Florence Estella Tamasine Barnes 4,450 4,460
Miss Katherine Elizabeth Barnes 8,080 8,080
Prepayments - 17
48,971 35,896
5 Creditors: amounts falling due within one year 2024 2023
£ £
VAT 10,667 3,913
Corporation tax 51,140 26,073
61,807 29,986
6 Ultimate controlling party and related party transactions
The company was under the control of Mr. David Barnes and Mrs. Florence Estella Tamasine Barnes throughout the current period.
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 except for those disclosed below.
Miss Katherine Elizabeth Barnes is the directors' daughter.
2024 2023
£ £
Equity dividends paid to Mr. David Barnes 25,000 1,950
Equity dividends paid to Mrs. Florence Estella Tamasine Barnes 26,000 1,950
Equity dividends paid to Miss Caroline Amelia Barnes 1,000 -
Equity dividends paid to Miss Katherine Elizabeth Barnes 10,000 8,500
Balance owing (to) / from Mr. David Barnes 15,267 5,131
Balance owing (to) / from Mrs. Florence Estella Tamasine Barnes 4,450 4,460
Balance owing (to) / from Miss Katherine Elizabeth Barnes 8,080 8,080
Interest at 2.25% per annum is charged on balances over £10,000 owed to the company.
7 Other information
GO2E LTD is a private company limited by shares and incorporated in England. Its registered office is:
Ginn House
Dean Workington
Cumbria CA14 4TH
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