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COMPANY REGISTRATION NUMBER: SC635080
Goldcrest Ventures Limited
Filleted Unaudited Financial Statements
30 June 2024
Goldcrest Ventures Limited
Financial Statements
Year ended 30 June 2024
Contents
Page
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
Goldcrest Ventures Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Goldcrest Ventures Limited
Year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Goldcrest Ventures Limited for the year ended 30 June 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Goldcrest Ventures Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Goldcrest Ventures Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Goldcrest Ventures Limited and its director for our work or for this report.
It is your duty to ensure that Goldcrest Ventures 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 loss of Goldcrest Ventures Limited. You consider that Goldcrest Ventures 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 Goldcrest Ventures 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.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
11 February 2025
Goldcrest Ventures Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Current assets
Stock and Work in Progress
219,190
202,091
Debtors
4
100
100
Cash at bank and in hand
30,000
30,000
---------
---------
249,290
232,191
Creditors: amounts falling due within one year
5
258,241
238,192
---------
---------
Net current liabilities
8,951
6,001
-------
-------
Total assets less current liabilities
( 8,951)
( 6,001)
-------
-------
Net liabilities
( 8,951)
( 6,001)
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 9,051)
( 6,101)
-------
-------
Shareholders deficit
( 8,951)
( 6,001)
-------
-------
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 30 June 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 his 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 11 February 2025 , and are signed on behalf of the board by:
Mr G E Bailey
Director
Company registration number: SC635080
Goldcrest Ventures Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G22PQ, United Kingdom.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is reliant on the support of the director in order to continue in operational existence and meet its liabilities as the fall due. The director will continue to support the company and as such the going concern basis is appropriate for the preparation of the accounts.
Stocks
Work in progress is measured at the lower of cost and estimated realisable value. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the work in progress to its present location and condition.
4. Debtors
2024
2023
£
£
Other debtors
100
100
----
----
5. Creditors: amounts falling due within one year
2024
2023
£
£
Sundry Creditors
31,167
12,372
Other creditors
227,074
225,820
---------
---------
258,241
238,192
---------
---------
The company received loan funds last year which are secured by a standard security granted in favour of its bankers over its property at Avonmill.
6. Contingencies
The company has entered into a profit sharing arrangement with its lender and the final outcome will be dependent on the success of the ongoing planning permission.
7. Related party transactions
As at the 30th June 2024, the company owed £31,167 (2023:£12,372) to The Firm of Guy Baillie, a company the director has an interest in.
8. Controlling party
The company is under the control of the directors in the period.