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Registered Number: 02046186
England and Wales

 

 

 

GOOD WORLD LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Directors Sau Wan FUNG
Kam Tong NG - Resigned on 13 August 2023
Kwok-Gam NG - Appointed on 28 July 2024
Registered Number 02046186
Registered Office 18 Ensign Street
London
E1 8PA
Trading Address Attingham Hill
Great Holm
Milton Keynes
MK8 9BY
Accountants P and Co (Partners) LLP
18 Ensign Street
London
E1 8PA
Secretary Sau Wan Fung
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Good World Limited for the year ended 30 April 2024 which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://icaew.com/regulations.

This report is made solely to the Board of Directors of Good World Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Good World Limited and state those matters that we have agreed to state to the Board of Directors of Good World Limited, as a body, in this report in accordance with AAF 07/16 as detailed at http://icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Good World Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Good World Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and Profit of Good World Limited. You consider that Good World Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Good World Limited. 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 statutory financial statements.



....................................................
P and Co (Partners) LLP
18 Ensign Street
London
E1 8PA
23 January 2025
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 943,152    951,230 
Investments 4   5,000 
943,152    956,230 
Current assets      
Debtors: amounts falling due within one year 5 62,794    32,039 
Cash at bank and in hand 19,768    18,118 
82,562    50,157 
Creditors: amount falling due within one year 6 (50,459)   (39,737)
Net current assets 32,103    10,420 
 
Total assets less current liabilities 975,255    966,650 
Creditors: amount falling due after more than one year 7 (5,417)   (10,417)
Provisions for liabilities 8 (70)   (78)
Net assets 969,768    956,155 
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account 969,668    956,055 
Shareholders' funds 969,768    956,155 
 


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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 22 January 2025 and were signed on its behalf by:


-------------------------------
Sau Wan FUNG
Director
3
General Information
Good World Limited is a private company, limited by shares, registered in England and Wales, registration number 02046186, registration address 18 Ensign Street, London, E1 8PA. The trading address of the company is Attingham Hill, Great Holm, Milton Keynes, MK8 9BY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 (as applied to small entities by Section 1A of the standard).

Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable 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 capital and reserves.
The company's liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted.
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.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
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:
Land and Buildings £7,969 per year Straight Line
Plant and Machinery 25% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
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 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Total
  £   £   £
At 01 May 2023 1,204,389    243,017    1,447,406 
Additions    
Disposals    
At 30 April 2024 1,204,389    243,017    1,447,406 
Depreciation
At 01 May 2023 253,549    242,627    496,176 
Charge for year 7,969    109    8,078 
On disposals    
At 30 April 2024 261,518    242,736    504,254 
Net book values
Closing balance as at 30 April 2024 942,871    281    943,152 
Opening balance as at 01 May 2023 950,840    390    951,230 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 May 2023 5,000    5,000 
Additions  
Transfer to/from tangible fixed assets  
Disposals (5,000)   (5,000)
At 30 April 2024  

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 2,525    15,155 
Directors' Current Accounts 60,269    16,884 
62,794    32,039 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 7,343    5,176 
Bank Loans & Overdrafts 5,000    5,000 
Corporation Tax 17,475    16,377 
Accrued Expenses 3,341    6,684 
Other Creditors 17,300    6,500 
50,459    39,737 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 5,417    10,417 
5,417    10,417 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 78    104 
Charged to Profit & Loss (8)   (26)
70    78 

9.

Share Capital

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

4