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Registered number: 07750015
Go Events (UK) Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Passman Leonard Associates Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07750015
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,586 1,983
Tangible Assets 5 738,643 683,168
Investments 6 1,000 -
741,229 685,151
CURRENT ASSETS
Debtors 7 21,910 7,132
Cash at bank and in hand 1,099,464 984,816
1,121,374 991,948
Creditors: Amounts Falling Due Within One Year 8 (501,543 ) (509,430 )
NET CURRENT ASSETS (LIABILITIES) 619,831 482,518
TOTAL ASSETS LESS CURRENT LIABILITIES 1,361,060 1,167,669
PROVISIONS FOR LIABILITIES
Deferred Taxation (54,870 ) (35,991 )
NET ASSETS 1,306,190 1,131,678
CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 135,339 85,339
Profit and Loss Account 1,170,751 1,046,239
SHAREHOLDERS' FUNDS 1,306,190 1,131,678
Page 1
Page 2
For the year ending 31 July 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 T Pemberton
Director
12 November 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
Go Events (UK) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07750015 . The registered office is Office 1, 415 Limpsfield Road, Warlingham, Surrey, CR6 9HA.
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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets were website development costs. It is amortised at 20% reducing balance over its estimated usefule life.
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:
Freehold No depreciation
Plant & Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.5. 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 8 8
Sales, marketing and distribution 50 52
58 60
4. Intangible Assets
Other
£
Cost
As at 1 August 2023 14,913
As at 31 July 2024 14,913
Amortisation
As at 1 August 2023 12,930
Provided during the period 397
As at 31 July 2024 13,327
Net Book Value
As at 31 July 2024 1,586
As at 1 August 2023 1,983
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost or Valuation
As at 1 August 2023 600,000 211,698 20,990 12,675 845,363
Additions - 26,615 - 1,724 28,339
Revaluation 50,000 - - - 50,000
As at 31 July 2024 650,000 238,313 20,990 14,399 923,702
Depreciation
As at 1 August 2023 - 138,024 14,349 9,822 162,195
Provided during the period - 20,058 1,661 1,145 22,864
As at 31 July 2024 - 158,082 16,010 10,967 185,059
Net Book Value
As at 31 July 2024 650,000 80,231 4,980 3,432 738,643
As at 1 August 2023 600,000 73,674 6,641 2,853 683,168
The property was revalued as at 31 July 2024 on an open market basis by the directors of the company. The historic cost of the property included at a valuation of £650,000 (2023 - £600,000) was £514,661 (2023 - £514,661).
Page 4
Page 5
6. Investments
Listed
£
Cost
As at 1 August 2023 -
Additions 1,000
As at 31 July 2024 1,000
Provision
As at 1 August 2023 -
As at 31 July 2024 -
Net Book Value
As at 31 July 2024 1,000
As at 1 August 2023 -
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,005 2,497
Prepayments and accrued income 5,792 4,635
Other debtors 15,113 -
21,910 7,132
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,246 22,396
Bank loans and overdrafts 1,807 3,661
Corporation tax 132,770 114,154
Other taxes and social security 7,152 6,971
VAT 58,038 69,895
Net wages 14,140 18,734
Other creditors 143,550 141,525
Pension contributions - creditor 2,113 919
Accruals 6,477 1,650
Director's loan account 129,250 129,525
501,543 509,430
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5
Page 6
10. Reserves
Fair Value Reserve
£
As at 1 August 2023 85,339
Movements in fair value reserve 50,000
As at 31 July 2024 135,339
Page 6