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Company Registration No. 08538052 (England and Wales)
GOOD ESTATES LTD Accounts for the year ended 31 May 2024
GOOD ESTATES LTD Accounts Contents
Page
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GOOD ESTATES LTD Company Information for the year ended 31 May 2024
Director
Mr Alexander Sun
Company Number
08538052 (England and Wales)
Registered Office
29 Cranwich Road London N16 5HZ
Accountants
Precision Ltd 32 Castlewood Road London N16 6DW
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GOOD ESTATES LTD Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
556 
833 
Investment property
350,000 
350,000 
350,556 
350,833 
Current assets
Debtors
159,585 
159,512 
Cash at bank and in hand
2,404 
1,416 
161,989 
160,928 
Creditors: amounts falling due within one year
(36,344)
(36,033)
Net current assets
125,645 
124,895 
Total assets less current liabilities
476,201 
475,728 
Creditors: amounts falling due after more than one year
(222,652)
(222,652)
Provisions for liabilities
Deferred tax
(21,196)
(21,196)
Net assets
232,353 
231,880 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
232,352 
231,879 
Shareholders' funds
232,353 
231,880 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 February 2025 and were signed on its behalf by
Mr Alexander Sun Director Company Registration No. 08538052
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GOOD ESTATES LTD Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
GOOD ESTATES LTD is a private company, limited by shares, registered in England and Wales, registration number 08538052. The registered office is 29 Cranwich Road, London, N16 5HZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Investment property
Investment property is included at market fair value. Investment property fair value is determined by the directors based on their understanding of property market conditions and the specific property concerned. Gains or losses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25%
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GOOD ESTATES LTD Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 June 2023
1,110 
At 31 May 2024
1,110 
Depreciation
At 1 June 2023
277 
Charge for the year
277 
At 31 May 2024
554 
Net book value
At 31 May 2024
556 
At 31 May 2023
833 
5
Investment property
2024 
£ 
Fair value at 1 June 2023
350,000 
At 31 May 2024
350,000 
The company's investment property is included in the financial statements at Directors' valuation. The historical cost of the investment property at 31 March 2019 is £223,326.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
159,585 
159,512 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
15,609 
15,609 
Other creditors
20,075 
19,764 
Accruals
660 
660 
36,344 
36,033 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
222,652 
222,652 
9
Transactions with related parties
£157,642 shown under amounts due from group undertakings is due from a subsidiary company known as ULK Estates Ltd
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GOOD ESTATES LTD Notes to the Accounts for the year ended 31 May 2024
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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