Registered number
04176775
GOLDSTRIPE LIMITED
Unaudited Filleted Accounts
30 June 2024
GOLDSTRIPE LIMITED
Company Information
Director
Mr S Pattni
Accountants
Key Business Consultants LLP
13 Whitchurch Lane
Edgware
HA8 6JZ
Bankers
National Westminster Bank Plc
Starling Bank Limited
Registered office
13 Whitchurch Lane
Edgware
HA8 6JZ
Registered number
04176775
GOLDSTRIPE LIMITED
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of GOLDSTRIPE LIMITED for the 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 accounts of GOLDSTRIPE LIMITED for the year ended 30 June 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity 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 the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Key Business Consultants LLP
Chartered Accountants
13 Whitchurch Lane
Edgware
HA8 6JZ
12 March 2025
GOLDSTRIPE LIMITED
Registered number: 04176775
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,100,043 1,100,054
Investments 4 103,000 103,000
1,203,043 1,203,054
Current assets
Debtors 5 - 170
Cash at bank and in hand 461 403
461 573
Creditors: amounts falling due within one year 6 (138,129) (131,829)
Net current liabilities (137,668) (131,256)
Total assets less current liabilities 1,065,375 1,071,798
Creditors: amounts falling due after more than one year 7 (611,696) (614,496)
Net assets 453,679 457,302
Capital and reserves
Called up share capital 1 1
Revaluation reserve 9 429,759 429,759
Profit and loss account 23,919 27,542
Shareholder's funds 453,679 457,302
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Pattni
Director
Approved by the board on 12 March 2025
GOLDSTRIPE LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings no depreciation, revaluation every 5 years
Leasehold land and buildings no depreciation, revaluation every 5 years
Fixtures, fittings, tools and equipment 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
1 Accounting policies (cont'd)
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2023 1,100,000 2,001 1,102,001
At 30 June 2024 1,100,000 2,001 1,102,001
Depreciation
At 1 July 2023 - 1,947 1,947
Charge for the year - 11 11
At 30 June 2024 - 1,958 1,958
Net book value
At 30 June 2024 1,100,000 43 1,100,043
At 30 June 2023 1,100,000 54 1,100,054
3 Tangible fixed assets (cont.)
Freehold land and buildings: 2024 2023
£ £
Historical cost 612,801 612,801
Cumulative depreciation based on historical cost 122,560 110,304
490,241 502,497
Revalued by director:
2016 £287,199
2020 £200,000
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 July 2023 103,000
At 30 June 2024 103,000
Historical cost
At 1 July 2023 103,000
At 30 June 2024 103,000
5 Debtors 2024 2023
£ £
Other debtors - 170
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,209 1,755
Trade creditors 4,519 5,889
Taxation and social security costs 36,990 34,185
Other creditors 94,411 90,000
138,129 131,829
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 611,696 614,496
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 611,993 615,442
Bank mortgages secured against the freehold and leasehold properties.
9 Revaluation reserve 2024 2023
£ £
At 1 July 2023 429,759 429,759
At 30 June 2024 429,759 429,759
10 Related party transactions
At the year end, the company owed Mr S Pattni £4,410 (owed by Mr S Pattni in 2023: £171).
11 Controlling party
The ultimate controlling party throughout the year was Mr S Pattni by virtue of his shareholding.
12 Other information
GOLDSTRIPE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
13 Whitchurch Lane
Edgware
HA8 6JZ
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