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Company registration number: 04368553
Goldfinch (Promotions) Limited
Unaudited filleted financial statements
For the year ended
30 June 2024
Goldfinch (Promotions) Limited
Contents
Statement of financial position
Notes to the financial statements
Goldfinch (Promotions) Limited
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 3 1,497 9,306
Investments 4 780,410 828,474
________ ________
781,907 837,780
Current assets
Stocks - 8,209
Debtors 5 92 1,064
Investments 6 - 25,000
Cash at bank and in hand 9,268 8,096
________ ________
9,360 42,369
Creditors: amounts falling due
within one year 7 ( 20,056) ( 40,256)
________ ________
Net current (liabilities)/assets ( 10,696) 2,113
________ ________
Total assets less current liabilities 771,211 839,893
________ ________
Net assets 771,211 839,893
________ ________
Capital and reserves
Called up share capital 501 501
Capital redemption reserve 499 499
Profit and loss account 770,211 838,893
________ ________
Shareholders funds 771,211 839,893
________ ________
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 March 2025 , and are signed on behalf of the board by:
Mr T R Sayle
Director
Company registration number: 04368553
Goldfinch (Promotions) Limited
Notes to the financial statements
Year ended 30 June 2024
1. Accounting policies
General information
The company is a private company limited by shares, registered in England and Wales, registration number 04368553 . The address of the registered office is Elston, West Road, Weaverham, Cheshire, CW8 3HH.
Basis of preparation
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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 with the same financial statements.
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their present location and condition.
Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
2. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 2 ).
3. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 July 2023 12,202 49,243 61,445
Disposals - ( 49,243) ( 49,243)
________ ________ ________
At 30 June 2024 12,202 - 12,202
________ ________ ________
Depreciation
At 1 July 2023 10,441 41,698 52,139
Charge for the year 264 - 264
Disposals - ( 41,698) ( 41,698)
________ ________ ________
At 30 June 2024 10,705 - 10,705
________ ________ ________
Carrying amount
At 30 June 2024 1,497 - 1,497
________ ________ ________
At 30 June 2023 1,761 7,545 9,306
________ ________ ________
4. Investments
Other investments other than loans Total
£ £
Cost or valuation
At 1 July 2023 828,474 828,474
Additions 5,329 5,329
Disposals ( 118,567) ( 118,567)
Revaluations 65,174 65,174
________ ________
At 30 June 2024 780,410 780,410
________ ________
Impairment
At 1 July 2023 and 30 June 2024 - -
________ ________
Carrying amount
At 30 June 2024 780,410 780,410
________ ________
At 30 June 2023 828,474 828,474
________ ________
5. Debtors
2024 2023
£ £
Other debtors 92 1,064
________ ________
6. Investments
2024 2023
£ £
Interests in associates - cost brought forward 25,000 25,000
Interest in associates - revaluations (25,000) -
________ ________
- 25,000
________ ________
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 87 380
Director's loan account 16,694 35,667
Other creditors 3,275 4,209
________ ________
20,056 40,256
________ ________