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REGISTERED NUMBER: 09145603 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Good and Useful Ltd

Good and Useful Ltd (Registered number: 09145603)






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


Good and Useful Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mrs K M Caygill





SECRETARY: D Caygill





REGISTERED OFFICE: 9 St Georges Yard
Castle Street
Farnham
Surrey
GU9 7LW





REGISTERED NUMBER: 09145603 (England and Wales)





ACCOUNTANTS: Blackwood Futcher & Co.
Chartered Accountants
9 St George's Yard
Farnham
Surrey
GU9 7LW

Good and Useful Ltd (Registered number: 09145603)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,329 8,503

CURRENT ASSETS
Debtors 5 84,212 61,712
Cash at bank 54,889 67,898
139,101 129,610
CREDITORS
Amounts falling due within one year 6 26,679 28,635
NET CURRENT ASSETS 112,422 100,975
TOTAL ASSETS LESS CURRENT
LIABILITIES

122,751

109,478

PROVISIONS FOR LIABILITIES 2,582 1,616
NET ASSETS 120,169 107,862

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 120,069 107,762
SHAREHOLDERS' FUNDS 120,169 107,862

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 3 June 2024 and were signed by:





Mrs K M Caygill - Director


Good and Useful Ltd (Registered number: 09145603)

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

1. STATUTORY INFORMATION

Good and Useful Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable of the company consultancy activities and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Tangible fixed assets
Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

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.

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.

Good and Useful Ltd (Registered number: 09145603)

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

2. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 14,987
Additions 5,810
At 31 March 2024 20,797
DEPRECIATION
At 1 April 2023 6,485
Charge for year 3,983
At 31 March 2024 10,468
NET BOOK VALUE
At 31 March 2024 10,329
At 31 March 2023 8,502

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 13,536 12,927
Other debtors 70,676 48,785
84,212 61,712

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors - 186
Taxation and social security 24,849 26,764
Other creditors 1,830 1,685
26,679 28,635

Good and Useful Ltd (Registered number: 09145603)

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

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mrs K M Caygill
Balance outstanding at start of year 40,942 8,047
Amounts advanced 53,059 77,403
Amounts repaid (41,352 ) (44,508 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 52,649 40,942

The maximum amount outstanding and due to the company during the year by the director was £52,649. No interest was paid on this balance during the year.