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REGISTERED NUMBER: 04871082 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

TERENCE GODDARD ASSOCIATES LIMITED

TERENCE GODDARD ASSOCIATES LIMITED (REGISTERED NUMBER: 04871082)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


TERENCE GODDARD ASSOCIATES LIMITED (REGISTERED NUMBER: 04871082)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,005 28,765
Investments 5 194,713 216,931
Investment property 6 1,865,001 1,760,001
2,087,719 2,005,697

CURRENT ASSETS
Debtors 7 40,754 34,841
Cash at bank 1,133,108 1,111,435
1,173,862 1,146,276
CREDITORS
Amounts falling due within one year 8 51,307 14,007
NET CURRENT ASSETS 1,122,555 1,132,269
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,210,274

3,137,966

PROVISIONS FOR LIABILITIES 9 143,447 18,069
NET ASSETS 3,066,827 3,119,897

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 437,425 379,192
Retained earnings 2,629,302 2,740,605
SHAREHOLDERS' FUNDS 3,066,827 3,119,897

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 12 February 2025 and were signed by:




T E J Goddard - Director


TERENCE GODDARD ASSOCIATES LIMITED (REGISTERED NUMBER: 04871082)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Terence Goddard Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04871082

Registered office: 34 St. Peters Street
Stamford
Lincolnshire
PE9 2PF

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

Investment property
Investment properties are revalued annually by the director on an open market basis. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss. Deferred tax is provided for against the fair value movements.

TERENCE GODDARD ASSOCIATES LIMITED (REGISTERED NUMBER: 04871082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

Taxation
Taxation for the year comprises current 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 equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are initially measured at transaction price less attributable costs. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

TERENCE GODDARD ASSOCIATES LIMITED (REGISTERED NUMBER: 04871082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 75,934
Additions 5,710
Disposals (1,531 )
At 31 August 2024 80,113
DEPRECIATION
At 1 September 2023 47,169
Charge for year 5,794
Eliminated on disposal (855 )
At 31 August 2024 52,108
NET BOOK VALUE
At 31 August 2024 28,005
At 31 August 2023 28,765

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 September 2023 216,931
Additions 5,137
Revaluations (27,355 )
At 31 August 2024 194,713
NET BOOK VALUE
At 31 August 2024 194,713
At 31 August 2023 216,931

Cost or valuation at 31 August 2024 is represented by:

Other
investments
£   
Valuation in 2018 60,693
Valuation in 2019 (17,122 )
Valuation in 2020 25,657
Valuation in 2021 141,305
Valuation in 2022 (53,975 )
Valuation in 2023 (117,785 )
Valuation in 2024 (27,355 )
Cost 183,295
194,713

TERENCE GODDARD ASSOCIATES LIMITED (REGISTERED NUMBER: 04871082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 1,760,001
Revaluations 105,000
At 31 August 2024 1,865,001
NET BOOK VALUE
At 31 August 2024 1,865,001
At 31 August 2023 1,760,001

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2017 120,501
Valuation in 2018 110,000
Valuation in 2019 40,000
Valuation in 2020 45,000
Valuation in 2021 30,000
Valuation in 2022 85,000
Valuation in 2023 (1,136 )
Valuation in 2024 105,000
Cost 1,330,636
1,865,001

If the investments properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,330,636 1,330,636

The investment properties were valued on an open market basis on 31 August 2024 by the director of the company .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 40,754 34,841

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 988 3,986
Taxation and social security 43,208 2,807
Other creditors 7,111 7,214
51,307 14,007

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 143,447 18,069

TERENCE GODDARD ASSOCIATES LIMITED (REGISTERED NUMBER: 04871082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2023 18,069
Provided during year 125,378
Balance at 31 August 2024 143,447

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £144,000 (2023 - £95,000) were paid to the director .

At the year end the director was owed £4,693 (2023 - £4,693). This loan is unsecured, interest free and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The controlling party is T E J Goddard.