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Registered number: 14037167
GOLDEN THREAD SOLUTIONS LTD
Unaudited Financial Statements
For The Year Ended 30 April 2024
TaxAssist Accountants
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of GOLDEN THREAD SOLUTIONS LTD for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of GOLDEN THREAD SOLUTIONS LTD for the year ended 30 April 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to the director of GOLDEN THREAD SOLUTIONS LTD , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of GOLDEN THREAD SOLUTIONS LTD and state those matters that we have agreed to state to the director of GOLDEN THREAD SOLUTIONS LTD , as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GOLDEN THREAD SOLUTIONS LTD and its director, as a body, for our work or for this report.
It is your duty to ensure that GOLDEN THREAD SOLUTIONS LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of GOLDEN THREAD SOLUTIONS LTD . You consider that GOLDEN THREAD SOLUTIONS LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of GOLDEN THREAD SOLUTIONS LTD . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
Charles Walker
23/12/2024
TaxAssist Accountants
5a Market Hall
Bedford
Bedfordshire
MK40 1NS
Page 1
Page 2
Balance Sheet
Registered number: 14037167
30 April 2024 30 April 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,184 14,553
12,184 14,553
CURRENT ASSETS
Debtors 5 36,499 20,248
Cash at bank and in hand 8,001 10,498
44,500 30,746
Creditors: Amounts Falling Due Within One Year 6 (56,011 ) (62,240 )
NET CURRENT ASSETS (LIABILITIES) (11,511 ) (31,494 )
TOTAL ASSETS LESS CURRENT LIABILITIES 673 (16,941 )
NET ASSETS/(LIABILITIES) 673 (16,941 )
CAPITAL AND RESERVES
Called up share capital 7 250 250
Profit and Loss Account 423 (17,191 )
SHAREHOLDERS' FUNDS 673 (16,941)
Page 2
Page 3
For the year ending 30 April 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 Dean Cowell
Director
23/12/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
GOLDEN THREAD SOLUTIONS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 14037167 . The registered office is 12 - 20 Oxford House Oxford Street, Newbury, RG14 1JB.
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. 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:
Motor Vehicles 15% RBM
Computer Equipment 25% SLM
2.4. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 13,795 1,432 15,227
As at 30 April 2024 13,795 1,432 15,227
Depreciation
As at 1 May 2023 391 283 674
Provided during the period 2,011 358 2,369
As at 30 April 2024 2,402 641 3,043
Net Book Value
As at 30 April 2024 11,393 791 12,184
As at 1 May 2023 13,404 1,149 14,553
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Page 5
5. Debtors
30 April 2024 30 April 2023
£ £
Due within one year
Trade debtors 34,238 20,008
Prepayments and accrued income 2,261 240
36,499 20,248
6. Creditors: Amounts Falling Due Within One Year
30 April 2024 30 April 2023
£ £
Trade creditors 3,790 1,855
Other taxes and social security 671 1,767
VAT 8,418 5,461
Other creditors 92 -
Accruals and deferred income 3,479 934
Director's loan account 39,561 52,223
56,011 62,240
7. Share Capital
30 April 2024 30 April 2023
£ £
Allotted, Called up and fully paid 250 250
Page 5