FOR THE YEAR ENDED 30 JUNE 2024
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GOSS INTERACTIVE LIMITED
COMPANY INFORMATION
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GOSS INTERACTIVE LIMITED
CONTENTS
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GOSS INTERACTIVE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024
The directors present their strategic report for the year ended 30 June 2024.
The Company experienced another successful year, with a 15% increase in top-line revenue, reflecting sustained demand for digital transformation solutions in our core markets. Gross profit rose in tandem with revenue, maintaining a margin of roughly 87%. Cash generation also remained robust, and net assets climbed 15.7% to £6.32m, indicating a strengthened balance sheet.
In addition, we continued to secure strong recurring income growth and notable new contracts in central government, highlighting the solid foundations of the business. While overall profitability was tempered slightly by one-off exceptional costs and an EMI (Enterprise Management Incentive) charge, the Company remains on track with its growth objectives and is well-positioned for the future.
The directors have reviewed the potential effects of AI, security, data risks, and local government reorganisation on the company’s ability to continue as a going concern. Given our strong track record in security, data protection, and data governance, we believe any future impacts—though uncertain—can be managed through robust policies, practical oversight, and adequate insurance. We maintain a formal business continuity plan designed to mitigate unforeseen events. While local government reorganisation brings change, our established footprint in all tiers of local government, coupled with the growing demand for digital and automated solutions, positions the business to leverage these changes as an opportunity.
Finally, although rapid AI adoption represents both a risk and an opportunity, our history of integrating AI into current products and services gives us confidence. We will continue to enhance these capabilities to ensure we stay at the forefront of this evolving technology.
The financial key performance indicators for the Company are as follows:
This report was approved by the board and signed on its behalf.
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GOSS INTERACTIVE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024
The directors present their report and the financial statements for the year ended 30 June 2024.
The profit for the year, after taxation, amounted to £482,175 (2023: £490,491).
The directors do not recommend payment of a dividend.
The directors who served during the year were:
The reorganisation underway in local government presents significant opportunities for Goss. Our established presence across all tiers of local government, combined with ever-increasing demand for digital and automated solutions, positions us well to benefit from this changing landscape. In addition, the ongoing pressure to balance public spending with reduced budgets underscores the need for cost-saving measures through automation.
Our continued investment in digital transformation—particularly in AI—has delivered real-world results, allowing us to move beyond prototypes and quickly deploy operational projects that save clients both time and money. As AI technology evolves further, we plan to expand our AI-driven offerings to meet the growing market need and remain at the forefront of innovation in our sector
There have been no significant events affecting the Company since the year end.
The auditors, Bishop Fleming LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
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GOSS INTERACTIVE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
This report was approved by the board and signed on its behalf.
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GOSS INTERACTIVE LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024
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GOSS INTERACTIVE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GOSS INTERACTIVE LIMITED
We have audited the financial statements of Goss Interactive Limited (the 'Company') for the year ended 30 June 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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GOSS INTERACTIVE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GOSS INTERACTIVE LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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GOSS INTERACTIVE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GOSS INTERACTIVE LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙We have considered the nature of the industry and sector, control environment, business performance and key drivers for directors' remuneration;
∙We have considered the results of enquiries with management about their own identification and assessment of the risk of irregularities;
∙We have reviewed the documentation of key processes and controls and performed walkthroughs of transactions to confirm that the systems are operating in line with documentation.
∙We have considered the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut-off. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override. Further to this we have also identified related party balances to be a significant risk. We have also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, FRS 102 and UK tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company's ability to operate or avoid a material penalty. These included health and safety, employment law, data protection and cyber security legislation. Our procedures to respond to the risks identified included the following:
∙Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙Enquiring of management concerning actual and potential litigation and claims;
∙Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
∙Performing detailed transactional testing in relation to the recognition of revenue with a particular focus around year end cut-off;
∙Performing a review of balances with related parties to ensure completeness; and
∙In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries, and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of the business.
We also communicated relevant identified laws and regulations and potential fraud risk to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout
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GOSS INTERACTIVE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GOSS INTERACTIVE LIMITED (CONTINUED)
the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
Salt Quay House
4 North East Quay
Sutton Harbour
PL4 0BN
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GOSS INTERACTIVE LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024
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GOSS INTERACTIVE LIMITED
REGISTERED NUMBER:03553908
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 25 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023
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