Caseware UK (AP4) 2024.0.164 2024.0.164 2024-04-302024-04-3010The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-05-01No description of principal activity8falsetruefalse 05835315 2023-05-01 2024-04-30 05835315 2022-05-01 2023-04-30 05835315 2024-04-30 05835315 2023-04-30 05835315 c:Director2 2023-05-01 2024-04-30 05835315 d:Buildings d:LongLeaseholdAssets 2023-05-01 2024-04-30 05835315 d:Buildings d:LongLeaseholdAssets 2024-04-30 05835315 d:Buildings d:LongLeaseholdAssets 2023-04-30 05835315 d:PlantMachinery 2023-05-01 2024-04-30 05835315 d:PlantMachinery 2024-04-30 05835315 d:PlantMachinery 2023-04-30 05835315 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05835315 d:FurnitureFittings 2023-05-01 2024-04-30 05835315 d:OfficeEquipment 2023-05-01 2024-04-30 05835315 d:OfficeEquipment 2024-04-30 05835315 d:OfficeEquipment 2023-04-30 05835315 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05835315 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05835315 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 05835315 d:ComputerSoftware 2024-04-30 05835315 d:ComputerSoftware 2023-04-30 05835315 d:CurrentFinancialInstruments 2024-04-30 05835315 d:CurrentFinancialInstruments 2023-04-30 05835315 d:Non-currentFinancialInstruments 2024-04-30 05835315 d:Non-currentFinancialInstruments 2023-04-30 05835315 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 05835315 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 05835315 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 05835315 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 05835315 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 05835315 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 05835315 d:ShareCapital 2024-04-30 05835315 d:ShareCapital 2023-04-30 05835315 d:SharePremium 2024-04-30 05835315 d:SharePremium 2023-04-30 05835315 d:CapitalRedemptionReserve 2024-04-30 05835315 d:CapitalRedemptionReserve 2023-04-30 05835315 d:RetainedEarningsAccumulatedLosses 2024-04-30 05835315 d:RetainedEarningsAccumulatedLosses 2023-04-30 05835315 c:OrdinaryShareClass1 2023-05-01 2024-04-30 05835315 c:OrdinaryShareClass1 2024-04-30 05835315 c:OrdinaryShareClass1 2023-04-30 05835315 c:FRS102 2023-05-01 2024-04-30 05835315 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 05835315 c:FullAccounts 2023-05-01 2024-04-30 05835315 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05835315 d:WithinOneYear 2024-04-30 05835315 d:WithinOneYear 2023-04-30 05835315 d:BetweenOneFiveYears 2024-04-30 05835315 d:BetweenOneFiveYears 2023-04-30 05835315 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-05-01 2024-04-30 05835315 2 2023-05-01 2024-04-30 05835315 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 05835315 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 05835315 d:ComputerSoftware d:OwnedIntangibleAssets 2023-05-01 2024-04-30 05835315 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 05835315














GO MODERN LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  30 APRIL 2024

 
GO MODERN LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 10


 
GO MODERN LIMITED
REGISTERED NUMBER:05835315

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
33,088
35,953

Tangible assets
 5 
27,702
18,742

  
60,790
54,695

Current assets
  

Stocks
 6 
92,709
99,368

Debtors: amounts falling due after more than one year
 7 
25,559
25,559

Debtors: amounts falling due within one year
 7 
242,679
241,322

Bank & cash balances
  
234,909
397,506

  
595,856
763,755

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(300,465)
(468,764)

Net current assets
  
 
 
295,391
 
 
294,991

Total assets less current liabilities
  
356,181
349,686

Creditors: amounts falling due after more than one year
 9 
(12,247)
(22,050)

Provisions for liabilities
  

Deferred tax
 11 
(7,864)
(5,850)

Net assets
  
336,070
321,786


Capital and reserves
  

Called up share capital 
 12 
777
777

Share premium account
  
139,754
139,754

Capital redemption reserve
  
423
423

Profit and loss account
  
195,116
180,832

  
336,070
321,786


Page 1

 
GO MODERN LIMITED
REGISTERED NUMBER:05835315
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 March 2025.




T Mahony
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
GO MODERN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Go Modern Limited is a limited liability company registered in England and Wales. Its registered office address is at 565 Kings Road, London, SW6 2EB.
The principal activity of the Company during the year was that of the sale of furniture. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue is recognised on the date that sales invoices are raised.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Development expenditure
-
4
years

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 3

 
GO MODERN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
5% straight line
Fixtures & fittings
-
3 years straight line
Office equipment
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for absolete and slow-moving stocks.

 
2.6

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
GO MODERN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

Pensions

The Company contributes to a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 5

 
GO MODERN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees

The average monthly number of employees, including the Directors, during the year was as follows:


        2024
        2023
            No.
            No.







Staff
8
10


4.


Intangible assets




Computer software

£



Cost


At 1 May 2023
100,204


Additions
10,660



At 30 April 2024

110,864



Amortisation


At 1 May 2023
64,252


Charge for the year on owned assets
13,524



At 30 April 2024

77,776



Net book value



At 30 April 2024
33,088



At 30 April 2023
35,952



Page 6

 
GO MODERN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





L/Term Leasehold Property
Fixtures & fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2023
29,835
24,139
55,564
109,538


Additions
4,500
8,740
2,611
15,851



At 30 April 2024

34,335
32,879
58,175
125,389



Depreciation


At 1 May 2023
21,195
21,298
48,303
90,796


Charge for the year on owned assets
1,442
478
4,971
6,891



At 30 April 2024

22,637
21,776
53,274
97,687



Net book value



At 30 April 2024
11,698
11,103
4,901
27,702



At 30 April 2023
8,640
2,841
7,261
18,742


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
92,709
99,368


Page 7

 
GO MODERN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Debtors

2024
2023
£
£

Due after more than one year

Rent deposit
25,559
25,559


2024
2023
£
£

Due within one year

Trade debtors
208,931
209,829

Prepayments and accrued income
16,070
14,215

Tax recoverable
17,678
17,278

242,679
241,322



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
9,800
9,800

Trade creditors
199,144
230,715

Other taxation and social security
67,113
209,085

Other creditors
17,601
16,478

Accruals and deferred income
6,807
2,686

300,465
468,764



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,247
22,050


Page 8

 
GO MODERN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
9,800
9,800


Amounts falling due 2-5 years

Bank loans
12,247
22,050


22,047
31,850



11.


Deferred taxation




2024


£






At beginning of year
(5,850)


Charged to the profit or loss
(2,014)



At end of year
(7,864)

2024
2023
£
£


Accelerated capital allowances
(7,864)
(5,850)


12.


Share capital

2024
2023
£
£
Authorised



1,000,000 (2023 - 1,000,000) Ordinary shares of £0.01 each
10,000
10,000

Allotted, called up and fully paid



77,700 (2023 - 77,700) Ordinary shares of £0.01 each
777
777




Page 9

 
GO MODERN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


13.


Pension commitments

The Company contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £43,413 (2023 - £14,875). Contributions totalling £4,286 (2023 - £5,284) were payable to the fund at the reporting date and are included in creditors.


14.


Commitments under operating leases

At 30 April 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
82,500
82,500

Later than 1 year and not later than 5 years
-
82,500

82,500
165,000

 
Page 10