REGISTERED NUMBER: |
GOLD INVESTMENTS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
GOLD INVESTMENTS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
GOLD INVESTMENTS LIMITED (REGISTERED NUMBER: 01563385) |
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 |
GOLD INVESTMENTS LIMITED |
COMPANY INFORMATION |
for the year ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITOR: |
264 Banbury Road |
Oxford |
Oxfordshire |
OX2 7DY |
GOLD INVESTMENTS LIMITED (REGISTERED NUMBER: 01563385) |
BALANCE SHEET |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks | 7 |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
GOLD INVESTMENTS LIMITED (REGISTERED NUMBER: 01563385) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Gold Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the total value of sales made through the dealing in gold coins, gold bullion and other precious metals. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Fixtures and fittings | - |
Stocks |
Stocks of coins and other precious metals are valued at the lower of quoted market prices at the year end and net realisable value. Coins acquired for a specific purpose are valued at cost. This represents a departure from the requirements of FRS 102, but is considered necessary to give a true and fair view. |
At the year end Gold Investments Limited had oversold unallocated gold balances which have been valued at the quoted market price and are included within other creditors. |
All other stocks are valued at the lower of cost and net realisable value. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Gold and precious metals |
Assets and liabilities held in gold or other precious metals are translated at the market price on the balance sheet date. Transactions are recorded at the rate ruling at the date of the transaction. All differences are taken to the profit and loss account. |
GOLD INVESTMENTS LIMITED (REGISTERED NUMBER: 01563385) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
AMORTISATION |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
GOLD INVESTMENTS LIMITED (REGISTERED NUMBER: 01563385) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
6. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
PROVISIONS |
At 1 April 2023 |
and 31 March 2024 | 100 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Gold Investments Limited held the following investments as at 31st March 2023: |
A 100% shareholding in Gold Investments (London) Limited, a company incorporated in England which was dormant throughout the period to 31st March 2022. A full provision has been made against the cost of the investment in Gold Investments (London) Limited. |
7. | STOCKS |
Gold Investments holds both physical and unallocated stocks of gold and other precious metals on behalf of clients but details of these holdings are not reflected in the financial statements. |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | 1,395 | 1,375 |
Accrued income |
Prepayments |
GOLD INVESTMENTS LIMITED (REGISTERED NUMBER: 01563385) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 12,275 | 7,206 |
Other creditors |
Pension | - | 587 |
Directors' current accounts | 644 | 634 |
Deferred income |
Accrued expenses |
The amount of unallocated metal that Gold Investments Ltd held with financial institutions at the year end is 2024: £1,046,113 (2023: £1,086,865). The amount of client unallocated metal held with financial institutions at the year end is £4,074,162 (2023: £3,889,904). The net oversold amount is £3,028,049 (2023: £2,803,038). In addition, Gold Investments Ltd have their own physical stock holding of £2,987,790 (2023: £2,680,013). There is a deficit at 31 March 2024 of £40,259.02 (2023 deficit: £123,025). |
10. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | £1 | 36,000 | 36,000 |
Ordinary C | £1 | 4,000 | 4,000 |
40,000 | 40,000 |
GOLD INVESTMENTS LIMITED (REGISTERED NUMBER: 01563385) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
12. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2023 |
Profit for the year |
Dividends | ( |
) |
At 31 March 2024 |
13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditor was unqualified. |
for and on behalf of |
14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
GOLD INVESTMENTS LIMITED (REGISTERED NUMBER: 01563385) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
15. | RELATED PARTY DISCLOSURES |
The company rents the property Temple Court from the controlling director's pension scheme. The directors have paid £48,000 for the period 01/04/2018 to 31/03/2024. |
Mr S Temple and Mr O Temple both received £25,000 (2023: Mr S Temple and Mr O Temple both received £30,000) in dividends during the year. |