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Registered number: 00616898
A.Godshaw Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 00616898
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 21,762 24,566
Investments 6 4,800 4,800
26,562 29,366
CURRENT ASSETS
Stocks 276,271 260,250
Debtors 7 41,194 241,132
Cash at bank and in hand 417,511 513,184
734,976 1,014,566
Creditors: Amounts Falling Due Within One Year 8 (46,328 ) (52,218 )
NET CURRENT ASSETS (LIABILITIES) 688,648 962,348
TOTAL ASSETS LESS CURRENT LIABILITIES 715,210 991,714
PROVISIONS FOR LIABILITIES
Deferred Taxation (874 ) (874 )
NET ASSETS 714,336 990,840
CAPITAL AND RESERVES
Called up share capital 9 6,670 10,000
Capital redemption reserve 3,330 -
Profit and Loss Account 704,336 980,840
SHAREHOLDERS' FUNDS 714,336 990,840
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 S Godshaw
Director
30/10/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
A.Godshaw Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00616898 . The registered office is 14a Meadway Court, Rutherford Close, Stevenage, Hertfordshire, SG1 2EF.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. 
2.2. 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 is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point of sale. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are computer software. It is amortised to profit and loss account over its estimated economic life of five years.
2.4. 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 15% on reducing balance
Fixtures & Fittings 10% on reducing balance
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual value of the assets. The useful economic lives and residual value are reassessed annually. They are amended when necessary to reflect current estimates, future investments and the physical condition of the assets.
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 1,154
As at 31 March 2024 1,154
Amortisation
As at 1 April 2023 1,154
As at 31 March 2024 1,154
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 52,708 291,140 99,594 443,442
Additions - 808 - 808
As at 31 March 2024 52,708 291,948 99,594 444,250
Depreciation
As at 1 April 2023 52,707 268,509 97,660 418,876
Provided during the period - 3,419 193 3,612
As at 31 March 2024 52,707 271,928 97,853 422,488
Net Book Value
As at 31 March 2024 1 20,020 1,741 21,762
As at 1 April 2023 1 22,631 1,934 24,566
6. Investments
Unlisted
£
Cost
As at 1 April 2023 4,800
As at 31 March 2024 4,800
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 4,800
As at 1 April 2023 4,800
Investments having a net book value of £200 (2023 - £200) are held by the company and have a market value of £4,800 at 31 March 2024 (2023 - £4,800).
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 41,194 241,132
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,887 20,125
Other creditors 13,962 4,832
Taxation and social security 25,479 27,261
46,328 52,218
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6,670 10,000
10. Other Commitments
At 31 March 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £28,700 (2023 - £64,700).
11. Related Party Transactions
At 31 March 2024, the company is owed £30,394 (2023 - £230,132) by Wigmores Properties Limited, a company wholly owned by S Godshaw, a director. Interest of £10,367 (2023 - £15,505) based on interest at 1% over the base rate has been charged on the outstanding loan amount in the year and has been included in the income statement within interest receivable.
S Godshaw, a director, has given unlimited guarantees to the company's bankers as security for any liability that may arise.
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