5 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-30 Sage Accounts Production Advanced 2024 - FRS102_2024 42,000 21,000 4,200 25,200 16,800 21,000 xbrli:pure xbrli:shares iso4217:GBP 06044402 2023-04-30 2024-04-29 06044402 2024-04-29 06044402 2023-04-29 06044402 2022-05-01 2023-04-29 06044402 2023-04-29 06044402 2022-04-30 06044402 core:NetGoodwill 2023-04-30 2024-04-29 06044402 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 2024-04-29 06044402 core:FurnitureFittings 2023-04-30 2024-04-29 06044402 core:MotorVehicles 2023-04-30 2024-04-29 06044402 bus:OrdinaryShareClass1 2023-04-30 2024-04-29 06044402 bus:Director2 2023-04-30 2024-04-29 06044402 core:NetGoodwill 2023-04-29 06044402 core:NetGoodwill 2024-04-29 06044402 core:LandBuildings 2023-04-29 06044402 core:FurnitureFittings 2023-04-29 06044402 core:MotorVehicles 2023-04-29 06044402 core:LandBuildings 2024-04-29 06044402 core:FurnitureFittings 2024-04-29 06044402 core:MotorVehicles 2024-04-29 06044402 core:LandBuildings 2023-04-30 2024-04-29 06044402 core:WithinOneYear 2024-04-29 06044402 core:WithinOneYear 2023-04-29 06044402 core:ShareCapital 2024-04-29 06044402 core:ShareCapital 2023-04-29 06044402 core:RetainedEarningsAccumulatedLosses 2024-04-29 06044402 core:RetainedEarningsAccumulatedLosses 2023-04-29 06044402 core:BetweenOneFiveYears 2024-04-29 06044402 core:BetweenOneFiveYears 2023-04-29 06044402 core:NetGoodwill 2023-04-29 06044402 core:LandBuildings 2023-04-29 06044402 core:FurnitureFittings 2023-04-29 06044402 core:MotorVehicles 2023-04-29 06044402 bus:Director1 2023-04-30 2024-04-29 06044402 bus:SmallEntities 2023-04-30 2024-04-29 06044402 bus:AuditExemptWithAccountantsReport 2023-04-30 2024-04-29 06044402 bus:SmallCompaniesRegimeForAccounts 2023-04-30 2024-04-29 06044402 bus:EntityHasNeverTraded 2023-04-30 2024-04-29 06044402 bus:PrivateLimitedCompanyLtd 2023-04-30 2024-04-29 06044402 bus:FullAccounts 2023-04-30 2024-04-29 06044402 bus:OrdinaryShareClass1 2024-04-29 06044402 bus:OrdinaryShareClass1 2023-04-29 06044402 core:ToolsEquipment 2023-04-30 2024-04-29 06044402 core:ToolsEquipment 2023-04-29 06044402 core:ToolsEquipment 2024-04-29 06044402 core:AccountingPolicyChangeIncreaseDecrease bus:Director2 2023-04-30 2024-04-29
COMPANY REGISTRATION NUMBER: 06044402
Godiva Carpets Limited
Filleted Unaudited Financial Statements
29 April 2024
Godiva Carpets Limited
Statement of Financial Position
29 April 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
16,800
21,000
Tangible assets
6
44,109
47,698
-------
-------
60,909
68,698
Current assets
Stocks
187,000
182,000
Debtors
7
10,137
10,074
Cash at bank and in hand
8,558
4,701
--------
--------
205,695
196,775
Prepayments and accrued income
1,003
138
Creditors: amounts falling due within one year
8
328,275
328,036
--------
--------
Net current liabilities
121,577
131,123
--------
--------
Total assets less current liabilities
( 60,668)
( 62,425)
Accruals and deferred income
3,298
3,035
-------
-------
Net liabilities
( 63,966)
( 65,460)
-------
-------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
( 64,066)
( 65,560)
-------
-------
Shareholders deficit
( 63,966)
( 65,460)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Godiva Carpets Limited
Statement of Financial Position (continued)
29 April 2024
These financial statements were approved by the board of directors and authorised for issue on 11 December 2024 , and are signed on behalf of the board by:
C. L. Pithie
Director
Company registration number: 06044402
Godiva Carpets Limited
Notes to the Financial Statements
Year ended 29 April 2024
1. General information
The company is a private company limited by shares, registered and trading in England and Wales with company number 06044402 . The address of the registered office is 9 Hurst Road, Longford, Coventry, England, CV6 6EG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £.
Going concern
The continuation of the company's affairs is dependant upon the support of the directors. These accounts have been prepared on a going concern basis which assumes their support for the foreseeable future.
Judgements and key sources of estimation uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property Improvements
-
20% straight line
Fixtures & Fittings
-
33% straight line
Motor Vehicles
-
25% reducing balance
Plant & Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 4 ).
5. Intangible assets
Goodwill
£
Cost
At 30 April 2023 and 29 April 2024
42,000
-------
Amortisation
At 30 April 2023
21,000
Charge for the year
4,200
-------
At 29 April 2024
25,200
-------
Carrying amount
At 29 April 2024
16,800
-------
At 29 April 2023
21,000
-------
6. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 30 April 2023
29,183
8,623
5,190
22,731
65,727
Additions
2,107
3,090
1,005
6,202
-------
-------
------
-------
-------
At 29 April 2024
29,183
10,730
8,280
23,736
71,929
-------
-------
------
-------
-------
Depreciation
At 30 April 2023
4,658
3,904
1,602
7,864
18,028
Charge for the year
2,432
4,607
511
2,242
9,792
-------
-------
------
-------
-------
At 29 April 2024
7,090
8,511
2,113
10,106
27,820
-------
-------
------
-------
-------
Carrying amount
At 29 April 2024
22,093
2,219
6,167
13,630
44,109
-------
-------
------
-------
-------
At 29 April 2023
24,525
4,719
3,588
14,867
47,699
-------
-------
------
-------
-------
7. Debtors
2024
2023
£
£
Trade debtors
8,582
9,950
Other debtors
1,555
124
-------
-------
10,137
10,074
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
82,577
62,309
Social security and other taxes
7,874
5,565
Other creditors
237,824
260,162
--------
--------
328,275
328,036
--------
--------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
52,104
52,104
Later than 1 year and not later than 5 years
82,499
134,603
--------
--------
134,603
186,707
--------
--------
11. Directors' advances, credits and guarantees
At the reporting date the directors loan account was in credit by £236,214 (2023: £248,737). There is no fixed term for repayment and no interest is charged.