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COMPANY REGISTRATION NUMBER: 00486239
A. G. & D. M. Goulbourne Limited
Filleted Unaudited Financial Statements
31 March 2024
A. G. & D. M. Goulbourne Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
A. G. & D. M. Goulbourne Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
4
1,739,433
1,753,503
Current assets
Debtors
5
42,148
39,023
Cash at bank and in hand
378,625
407,427
---------
---------
420,773
446,450
Creditors: amounts falling due within one year
6
32,655
47,062
---------
---------
Net current assets
388,118
399,388
------------
------------
Total assets less current liabilities
2,127,551
2,152,891
------------
------------
Net assets
2,127,551
2,152,891
------------
------------
A. G. & D. M. Goulbourne Limited
Statement of Financial Position (continued)
31 March 2024
2024
2023
Note
£
£
£
£
Capital and reserves
Called up share capital
7
2,000
2,000
Profit and loss account
2,125,551
2,150,891
------------
------------
Shareholders funds
2,127,551
2,152,891
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 February 2025 , and are signed on behalf of the board by:
B Dennis Director
Company registration number: 00486239
A. G. & D. M. Goulbourne Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Willow, Sixteen Acres Lane, Bickmarsh, Alcester, B50 4PA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover consists of income from rental of land and buildings, net of VAT and is recognised for the period it relates to. Where payments are received in advance, the amounts are recorded as deferred income and included as part of creditors due within one year.
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold farm buildings
-
1% straight line
Machinery and equipment
-
25% reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, either as financial assets, financial liabilities or equity interests. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Tangible assets
Freehold farm and buildings
Machinery and equipment
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
1,872,036
25,640
1,897,676
------------
--------
------------
Depreciation
At 1 April 2023
132,638
11,535
144,173
Charge for the year
10,543
3,527
14,070
------------
--------
------------
At 31 March 2024
143,181
15,062
158,243
------------
--------
------------
Carrying amount
At 31 March 2024
1,728,855
10,578
1,739,433
------------
--------
------------
At 31 March 2023
1,739,398
14,105
1,753,503
------------
--------
------------
5. Debtors
2024
2023
£
£
Other debtors
42,148
39,023
--------
--------
The debtors above include the following amounts falling due after more than one year:
2024
2023
£
£
Other debtors
40,373
36,730
--------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
11
9,767
Social security and other taxes
1,547
Other creditors
32,644
35,748
--------
--------
32,655
47,062
--------
--------
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
2,000
2,000
2,000
2,000
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