Company Registration No. 07251276 (England and Wales)
Go Internet Ltd
Unaudited accounts
for the year ended 31 May 2024
Go Internet Ltd
Unaudited accounts
Contents
Go Internet Ltd
Company Information
for the year ended 31 May 2024
Directors
Trevor Anthony Cook
Nigal John Peach
Company Number
07251276 (England and Wales)
Registered Office
23-25 Fortis House
Cothey Way
Ryde
Isle of Wight
PO33 1QT
UK
Accountants
Vision Accounting
Fortis House
Cothey Way
Ryde
Isle of Wight
PO33 1QT
Go Internet Ltd
Statement of financial position
as at 31 May 2024
Intangible assets
39,652
44,937
Tangible assets
308,662
273,549
Cash at bank and in hand
9,449
33,798
Creditors: amounts falling due within one year
(113,815)
(116,543)
Net current liabilities
(28,471)
(26,738)
Total assets less current liabilities
319,843
291,748
Creditors: amounts falling due after more than one year
(299,054)
(225,245)
Provisions for liabilities
Called up share capital
100
100
Revaluation reserve
100,000
-
Profit and loss account
(79,311)
63,729
Shareholders' funds
20,789
63,829
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 directors acknowledge their 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 of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by
Trevor Anthony Cook
Director
Company Registration No. 07251276
Go Internet Ltd
Notes to the Accounts
for the year ended 31 May 2024
Go Internet Ltd is a private company, limited by shares, registered in England and Wales, registration number 07251276. The registered office is 23-25 Fortis House, Cothey Way, Ryde, Isle of Wight, PO33 1QT, UK.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Plant & machinery
15% Straight Line
Motor vehicles
25% Straight Line
Fixtures & fittings
10% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
Go Internet Ltd
Notes to the Accounts
for the year ended 31 May 2024
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At valuation
At cost
At cost
At 1 June 2023
457,053
32,478
23,862
513,393
Additions
26,633
11,500
-
38,133
Revaluations
100,000
-
-
100,000
Disposals
-
(23,220)
-
(23,220)
At 31 May 2024
583,686
20,758
23,862
628,306
At 1 June 2023
212,543
17,354
9,947
239,844
Charge for the year
75,599
4,938
9,422
89,959
On disposals
-
(10,159)
-
(10,159)
At 31 May 2024
288,142
12,133
19,369
319,644
At 31 May 2024
295,544
8,625
4,493
308,662
At 31 May 2023
244,510
15,124
13,915
273,549
Amounts falling due within one year
Trade debtors
21,246
19,218
Accrued income and prepayments
22,649
4,144
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
21,772
-
Obligations under finance leases and hire purchase contracts
-
13,996
Trade creditors
83,938
77,104
Taxes and social security
2,395
226
Other creditors
530
16,750
Loans from directors
312
-
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
299,054
225,245
9
Average number of employees
During the year the average number of employees was 5 (2023: 5).