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Registered Number: 04347612
England and Wales

 

 

 

GOLDCORE ENGINEERING LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Directors John Paul Rusby
Ian Mackman
Registered Number 04347612
Registered Office 315 Regents Park Road
London
N3 1DP
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 1,052    1,403 
1,052    1,403 
Current assets      
Stocks 5 390,540    415,360 
Cash at bank and in hand 2,153    4,605 
392,693    419,965 
Creditors: amount falling due within one year 6 (640,501)   (589,102)
Net current assets (247,808)   (169,137)
 
Total assets less current liabilities (246,756)   (167,734)
Provisions for liabilities 7 (474)   (474)
Net assets (247,230)   (168,208)
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account (247,330)   (168,308)
Shareholders' funds (247,230)   (168,208)
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 16 January 2025 and were signed on its behalf by:


-------------------------------
John Paul Rusby
Director
2
General Information
Goldcore Engineering Limited is a private company, limited by shares, registered in England and Wales, registration number 04347612, registration address 315 Regents Park Road, London, N3 1DP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25%
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 6 (2023 : 7).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 May 2023 16,000    16,000 
Additions  
Disposals  
At 30 April 2024 16,000    16,000 
Amortisation
At 01 May 2023 16,000    16,000 
Charge for year  
On disposals  
At 30 April 2024 16,000    16,000 
Net book values
At 30 April 2024  
At 30 April 2023  


4.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 May 2023 57,387    57,387 
Additions  
Disposals  
At 30 April 2024 57,387    57,387 
Depreciation
At 01 May 2023 55,984    55,984 
Charge for year 351    351 
On disposals  
At 30 April 2024 56,335    56,335 
Net book values
Closing balance as at 30 April 2024 1,052    1,052 
Opening balance as at 01 May 2023 1,403    1,403 


5.

Stocks

2024
£
  2023
£
Stocks 390,540    415,360 
390,540    415,360 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 480,767    440,583 
Taxation and Social Security 22,996    17,486 
Other Creditors 136,738    131,033 
640,501    589,102 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 474    474 
474    474 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

9.

Related Party

During the the company has charged management fees of £20,000 (2023: £15,000) to related company which are related by virtue of common directors. The balance due by related company was £20,000 (2023: £15,000).
10.

Control

The directors consider that there to be no party which has a controlling interest in Goldcore Engineering Ltd.
3