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REGISTERED NUMBER: 08882095 (England and Wales)















Goodwin & Goodwin Ltd

Unaudited Financial Statements for the Year Ended 29 February 2024






Goodwin & Goodwin Ltd (Registered number: 08882095)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Goodwin & Goodwin Ltd

Company Information
for the Year Ended 29 February 2024







Directors: Dr C A Goodwin
Mr T D Goodwin





Registered office: 19-20 Gold Tops
Newport
NP20 4PH





Registered number: 08882095 (England and Wales)





Accountants: Haines Watts Wales LLP
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

Goodwin & Goodwin Ltd (Registered number: 08882095)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
Fixed assets
Intangible assets 4 - 1,000
Property, plant and equipment 5 2,182 3,541
2,182 4,541

Current assets
Debtors 6 2,182 3,782
Cash at bank and in hand 5,787 2,660
7,969 6,442
Creditors
Amounts falling due within one year 7 (7,814 ) (9,401 )
Net current assets/(liabilities) 155 (2,959 )
Total assets less current liabilities 2,337 1,582

Provisions for liabilities 8 (415 ) (579 )
Net assets 1,922 1,003

Capital and reserves
Called up share capital 9 5 5
Retained earnings 1,917 998
Shareholders' funds 1,922 1,003

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:




Dr C A Goodwin - Director



Mr T D Goodwin - Director


Goodwin & Goodwin Ltd (Registered number: 08882095)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. Statutory information

Goodwin & Goodwin 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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.

Goodwin & Goodwin Ltd (Registered number: 08882095)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. Accounting policies - continued

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.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 4 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 March 2023
and 29 February 2024 10,000
Amortisation
At 1 March 2023 9,000
Amortisation for year 1,000
At 29 February 2024 10,000
Net book value
At 29 February 2024 -
At 28 February 2023 1,000

5. Property, plant and equipment
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 March 2023 4,515 16,115 20,630
Additions 89 799 888
At 29 February 2024 4,604 16,914 21,518
Depreciation
At 1 March 2023 4,264 12,825 17,089
Charge for year 178 2,069 2,247
At 29 February 2024 4,442 14,894 19,336
Net book value
At 29 February 2024 162 2,020 2,182
At 28 February 2023 251 3,290 3,541

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 810 1,860
Prepayments 1,372 1,922
2,182 3,782

Goodwin & Goodwin Ltd (Registered number: 08882095)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 582 2,121
Tax 1,610 175
Social security and other taxes 652 -
Pension - 22
Other creditors 2,983 5,176
Directors' current accounts 382 382
Accrued expenses 1,605 1,525
7,814 9,401

8. Provisions for liabilities
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 415 579

Deferred
tax
£   
Balance at 1 March 2023 579
Credit to Income Statement during year (164 )
Balance at 29 February 2024 415

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5 Ordinary 1 5 5