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COMPANY REGISTRATION NUMBER: 08465616
Goldborough House Kennels & Cattery Ltd
Filleted Unaudited Financial Statements
28 February 2025
Goldborough House Kennels & Cattery Ltd
Statement of Financial Position
28 February 2025
2025
2024
Note
£
£
£
Fixed assets
Intangible assets
5
13
16
Tangible assets
6
6,434
6,843
-------
-------
6,447
6,859
Current assets
Stocks
190
190
Debtors
7
19,244
55,714
Cash at bank and in hand
17,349
4,479
--------
--------
36,783
60,383
Creditors: amounts falling due within one year
8
41,375
68,914
--------
--------
Net current liabilities
4,592
8,531
-------
-------
Total assets less current liabilities
1,855
( 1,672)
Provisions
Taxation including deferred tax
1,608
1,711
-------
-------
Net assets/(liabilities)
247
( 3,383)
-------
-------
Capital and reserves
Called up share capital
200
200
Profit and loss account
47
( 3,583)
----
-------
Shareholders funds/(deficit)
247
( 3,383)
----
-------
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 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Goldborough House Kennels & Cattery Ltd
Statement of Financial Position (continued)
28 February 2025
These financial statements were approved by the board of directors and authorised for issue on 13 March 2025 , and are signed on behalf of the board by:
Mr G W Norris
Mrs D M Norris
Director
Director
Company registration number: 08465616
Goldborough House Kennels & Cattery Ltd
Notes to the Financial Statements
Year ended 28 February 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Oakley House, Tetbury Road, Cirencester, Glos, GL7 1US.
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.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, inclusive of Value Added Tax, as the company is operating under the Flat Rate Scheme.
Income tax
Deferred tax is measured on a discounted/an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
Computer software
-
15% reducing balance
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2024: 8 ).
5. Intangible assets
Goodwill
Computer software
Total
£
£
£
Cost
At 1 March 2024 and 28 February 2025
250,000
101
250,101
---------
----
---------
Amortisation
At 1 March 2024
250,000
85
250,085
Charge for the year
3
3
---------
----
---------
At 28 February 2025
250,000
88
250,088
---------
----
---------
Carrying amount
At 28 February 2025
13
13
---------
----
---------
At 29 February 2024
16
16
---------
----
---------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 March 2024
4,593
3,248
4,261
12,102
Additions
726
726
-------
-------
-------
--------
At 28 February 2025
5,319
3,248
4,261
12,828
-------
-------
-------
--------
Depreciation
At 1 March 2024
2,267
1,065
1,927
5,259
Charge for the year
458
327
350
1,135
-------
-------
-------
--------
At 28 February 2025
2,725
1,392
2,277
6,394
-------
-------
-------
--------
Carrying amount
At 28 February 2025
2,594
1,856
1,984
6,434
-------
-------
-------
--------
At 29 February 2024
2,326
2,183
2,334
6,843
-------
-------
-------
--------
7. Debtors
2025
2024
£
£
Trade debtors
1,066
689
Other debtors
18,178
55,025
--------
--------
19,244
55,714
--------
--------
8. Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
12,857
Social security and other taxes
8,291
12,629
Other creditors
33,084
43,428
--------
--------
41,375
68,914
--------
--------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2025
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr G W Norris
20,570
( 15,438)
5,132
Mrs D M Norris
20,570
( 15,438)
5,132
--------
----
--------
--------
41,140
( 30,876)
10,264
--------
----
--------
--------
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr G W Norris
14,473
10,103
( 4,006)
20,570
Mrs D M Norris
14,474
10,103
( 4,007)
20,570
--------
--------
-------
--------
28,947
20,206
( 8,013)
41,140
--------
--------
-------
--------