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Registered number: 04849252
Goldsack Blinds & Contracts Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Mumford & Co Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04849252
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 98,972 87,260
98,972 87,260
CURRENT ASSETS
Stocks 6 12,450 18,580
Debtors 7 174,239 214,659
Cash at bank and in hand 323,506 418,470
510,195 651,709
Creditors: Amounts Falling Due Within One Year 8 (90,336 ) (93,106 )
NET CURRENT ASSETS (LIABILITIES) 419,859 558,603
TOTAL ASSETS LESS CURRENT LIABILITIES 518,831 645,863
Creditors: Amounts Falling Due After More Than One Year 9 (33,831 ) (34,023 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (23,584 ) (8,423 )
NET ASSETS 461,416 603,417
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 461,316 603,317
SHAREHOLDERS' FUNDS 461,416 603,417
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Andrew Goldsack
Director
14/11/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Goldsack Blinds & Contracts Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04849252 . The registered office is Units A to E Goose Farm, Shalloak Road, Broad Oak, Canterbury, CT2 0QE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 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. 
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... 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 25%
Motor Vehicles 25%
Fixtures & Fittings 25%
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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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2.7. 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 years 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 assets reflect 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: 9 (2023: 7)
9 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 40,000
As at 31 March 2024 40,000
Amortisation
As at 1 April 2023 40,000
As at 31 March 2024 40,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 125,406 108,197 2,526 236,129
Additions 1,670 - - 1,670
Other - 43,034 - 43,034
As at 31 March 2024 127,076 151,231 2,526 280,833
Depreciation
As at 1 April 2023 65,597 80,746 2,526 148,869
Provided during the period 15,370 17,622 - 32,992
As at 31 March 2024 80,967 98,368 2,526 181,861
Net Book Value
As at 31 March 2024 46,109 52,863 - 98,972
As at 1 April 2023 59,809 27,451 - 87,260
6. Stocks
2024 2023
£ £
Stock 1,000 1,000
Work in progress 11,450 17,580
12,450 18,580
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 68,018 103,058
Prepayments and accrued income 2,036 2,244
Other debtors 103,754 101,704
Tax recoverable CIS 100 -
VAT - 7,653
Net wages 331 -
174,239 214,659
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,136 -
Trade creditors 45,560 57,166
Corporation tax 21,740 20,784
Other taxes and social security 4,624 3,301
VAT 2,077 -
Pension creditor 398 374
Credit cards 4,907 5,871
Accrued expenses 4,500 4,500
Director's loan account 394 1,110
90,336 93,106
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,716 -
Bank loans 2-5 years 24,115 34,023
33,831 34,023
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,948 -
Later than one year and not later than five years 11,001 -
17,949 -
Less: Finance charges allocated to future periods 2,097 -
15,852 -
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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