THE GOLDING FAMILY INVESTMENT COMPANY |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
THE GOLDING FAMILY INVESTMENT COMPANY |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
THE GOLDING FAMILY INVESTMENT COMPANY |
LIMITED (REGISTERED NUMBER: 10440096) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
THE GOLDING FAMILY INVESTMENT COMPANY |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Unit 1 Gate Farm |
High Street |
Sutton Benger |
Chippenham |
Wiltshire |
SN15 4RE |
THE GOLDING FAMILY INVESTMENT COMPANY |
LIMITED (REGISTERED NUMBER: 10440096) |
BALANCE SHEET |
31 OCTOBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 | ( |
) | ( |
) |
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 8 |
Retained earnings |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
THE GOLDING FAMILY INVESTMENT COMPANY |
LIMITED (REGISTERED NUMBER: 10440096) |
BALANCE SHEET - continued |
31 OCTOBER 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE GOLDING FAMILY INVESTMENT COMPANY |
LIMITED (REGISTERED NUMBER: 10440096) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
1. | STATUTORY INFORMATION |
The Golding Family Investment Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial instruments |
Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument |
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. |
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period. |
Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management. |
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
THE GOLDING FAMILY INVESTMENT COMPANY |
LIMITED (REGISTERED NUMBER: 10440096) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Foreign currencies |
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. |
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 November 2023 |
Disposals | ( |
) |
Revaluations |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
Cost or valuation at 31 October 2024 is represented by: |
Other |
investments |
£ |
Valuation in 2023 | 1,554,329 |
Valuation in 2024 | 646,682 |
Cost | 4,886,907 |
7,087,918 |
THE GOLDING FAMILY INVESTMENT COMPANY |
LIMITED (REGISTERED NUMBER: 10440096) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
4. | FIXED ASSET INVESTMENTS - continued |
If listed investments had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 4,886,907 | 5,193,580 |
Listed investments were valued on an open market basis on 31 October 2024 by Rothschild & Co Bank International Ltd . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
7. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 550,253 | 388,582 |
Deferred |
tax |
£ |
Balance at 1 November 2023 |
Charge to Income Statement during year |
Balance at 31 October 2024 |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 November 2023 |
Investments Fair Value | 485,012 |
At 31 October 2024 |
9. | RELATED PARTY DISCLOSURES |
Included within other creditors is £4,531,746 (2023 - £4,756,330) due to the directors. No interest was charged on this loan during the year and there is no set date for repayment. |