Registered number
11287453
GOODENOUGH FIXINGS LIMITED
Filleted Accounts
30 April 2024
GOODENOUGH FIXINGS LIMITED
Registered number: 11287453
Balance Sheet
as at 30 April 2024
Restated
Notes 2024 2023
£ £
Current assets
Debtors 3 6,147 48,618
Cash at bank and in hand 8,983 21,006
15,130 69,624
Creditors: amounts falling due within one year 4 (245,356) (324,233)
Net current liabilities (230,226) (254,609)
Net liabilities (230,226) (254,609)
Capital and reserves
Called up share capital 1 1
Profit and loss account (230,227) (254,610)
Shareholders' funds (230,226) (254,609)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C A Goodenough
Director
Approved by the board on 22 January 2025
GOODENOUGH FIXINGS LIMITED
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2024 2023
£ £
Trade debtors - 15,335
Corporation tax R&D tax due - 29,394
Other debtors 6,147 3,889
6,147 48,618
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 5,531 48,578
Other creditors 239,825 275,655
245,356 324,233
5 Controlling party
The directors are the ultimate controlling party.
6 Research and development
Expenditure on research and development is written off in the period in which it is incurred. The company takes advantage of Research and Development tax reliefs and surrenders losses for corporation tax credits.
7 Going concern
These financial statements have been prepared on a going concern basis. The company has the support of its shareholders.
8 Other information
GOODENOUGH FIXINGS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Associates House
118A East Barnet Road
Barnet
Herts
EN4 8RE
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