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COMPANY REGISTRATION NUMBER: 06484229
GOLDBUG (UK) LIMITED
Filleted Unaudited Financial Statements
31 December 2023
GOLDBUG (UK) LIMITED
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
6,209
7,722
Current assets
Stocks
1,740
6,740
Debtors
6
9,472
1,218
Cash at bank and in hand
20,707
46,959
--------
--------
31,919
54,917
Creditors: amounts falling due within one year
7
69,728
38,542
--------
--------
Net current (liabilities)/assets
( 37,809)
16,375
--------
--------
Total assets less current liabilities
( 31,600)
24,097
Creditors: amounts falling due after more than one year
8
14,058
28,508
--------
--------
Net liabilities
( 45,658)
( 4,411)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 45,758)
( 4,511)
--------
-------
Shareholders deficit
( 45,658)
( 4,411)
--------
-------
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 31 December 2023 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GOLDBUG (UK) LIMITED
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 26 March 2025 , and are signed on behalf of the board by:
J Bodner
Director
Company registration number: 06484229
GOLDBUG (UK) LIMITED
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
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
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
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.
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 , fittings and equipments
-
20% reducing balance
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 4 ).
5. Tangible assets
Plant and machinery
Fixtures, fittings and equipments
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
2,220
16,347
18,567
-------
--------
--------
Depreciation
At 1 January 2023
1,577
9,268
10,845
Charge for the year
97
1,416
1,513
-------
--------
--------
At 31 December 2023
1,674
10,684
12,358
-------
--------
--------
Carrying amount
At 31 December 2023
546
5,663
6,209
-------
--------
--------
At 31 December 2022
643
7,079
7,722
-------
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
6,104
Other debtors
3,368
1,218
-------
-------
9,472
1,218
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,225
4,005
Trade creditors
4,605
10,117
Corporation tax
24
Social security and other taxes
92
277
Other creditors
55,806
24,119
--------
--------
69,728
38,542
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
14,058
28,508
--------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Balance brought forward and outstanding
2023
2022
£
£
J Bodner
( 373)
( 373)
----
----