Acorah Software Products - Accounts Production 16.3.350 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 04011896 Mr T W Goss Mr A T Goss Mr A C Goss Mr P S Goss Mr A T Goss iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04011896 2023-07-31 04011896 2024-07-31 04011896 2023-08-01 2024-07-31 04011896 frs-core:CurrentFinancialInstruments 2024-07-31 04011896 frs-core:Non-currentFinancialInstruments 2024-07-31 04011896 frs-core:FurnitureFittings 2024-07-31 04011896 frs-core:FurnitureFittings 2023-08-01 2024-07-31 04011896 frs-core:FurnitureFittings 2023-07-31 04011896 frs-core:NetGoodwill 2024-07-31 04011896 frs-core:NetGoodwill 2023-08-01 2024-07-31 04011896 frs-core:NetGoodwill 2023-07-31 04011896 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-07-31 04011896 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 04011896 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-31 04011896 frs-core:RevaluationReserve 2023-07-31 04011896 frs-core:RevaluationReserve 2024-07-31 04011896 frs-core:ShareCapital 2024-07-31 04011896 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 04011896 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04011896 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 04011896 frs-bus:SmallEntities 2023-08-01 2024-07-31 04011896 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 04011896 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 04011896 frs-core:CostValuation 2023-07-31 04011896 frs-core:AdditionsToInvestments 2024-07-31 04011896 frs-core:CostValuation 2024-07-31 04011896 frs-core:ProvisionsForImpairmentInvestments 2023-07-31 04011896 frs-core:ProvisionsForImpairmentInvestments 2024-07-31 04011896 frs-bus:Director1 2023-08-01 2024-07-31 04011896 frs-bus:Director2 2023-08-01 2024-07-31 04011896 frs-bus:Director3 2023-08-01 2024-07-31 04011896 frs-bus:Director4 2023-08-01 2024-07-31 04011896 frs-bus:CompanySecretary1 2023-08-01 2024-07-31 04011896 frs-countries:EnglandWales 2023-08-01 2024-07-31 04011896 2022-07-31 04011896 2023-07-31 04011896 2022-08-01 2023-07-31 04011896 frs-core:CurrentFinancialInstruments 2023-07-31 04011896 frs-core:Non-currentFinancialInstruments 2023-07-31 04011896 frs-core:RevaluationReserve 2023-07-31 04011896 frs-core:ShareCapital 2023-07-31 04011896 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 04011896
Goss Bros. Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04011896
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 106,872 116,259
Tangible Assets 5 29,461 41,503
Investments 6 2,484,549 2,322,008
2,620,882 2,479,770
CURRENT ASSETS
Stocks 7 59,915 129,056
Debtors 8 93,828 117,691
Cash at bank and in hand 310,291 185,291
464,034 432,038
Creditors: Amounts Falling Due Within One Year 9 (272,835 ) (433,909 )
NET CURRENT ASSETS (LIABILITIES) 191,199 (1,871 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,812,081 2,477,899
Creditors: Amounts Falling Due After More Than One Year 10 (42,727 ) (83,265 )
NET ASSETS 2,769,354 2,394,634
CAPITAL AND RESERVES
Called up share capital 11 60,100 60,100
Revaluation reserve 13 205,096 205,096
Profit and Loss Account 2,504,158 2,129,438
SHAREHOLDERS' FUNDS 2,769,354 2,394,634
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A T Goss
Director
23 April 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Goss Bros. Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04011896 . The registered office is 55 Whitleigh Avenue Whitleigh Avenue, Plymouth, PL5 3AU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5% staright line.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% reducing balance
Fixtures & Fittings 20% reducing balance
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 29 (2023: 29)
29 29
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 144,420
As at 31 July 2024 144,420
Amortisation
As at 1 August 2023 28,161
Provided during the period 9,387
As at 31 July 2024 37,548
Net Book Value
As at 31 July 2024 106,872
As at 1 August 2023 116,259
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 August 2023 73,334 166,258 239,592
Disposals (4,797 ) (4,594 ) (9,391 )
As at 31 July 2024 68,537 161,664 230,201
Depreciation
As at 1 August 2023 71,421 126,668 198,089
Provided during the period 198 7,286 7,484
Disposals (3,451 ) (1,382 ) (4,833 )
As at 31 July 2024 68,168 132,572 200,740
Net Book Value
As at 31 July 2024 369 29,092 29,461
As at 1 August 2023 1,913 39,590 41,503
Page 4
Page 5
6. Investments
Other
£
Cost
As at 1 August 2023 2,322,008
Additions 162,541
As at 31 July 2024 2,484,549
Provision
As at 1 August 2023 -
As at 31 July 2024 -
Net Book Value
As at 31 July 2024 2,484,549
As at 1 August 2023 2,322,008
This is an investment in Goss Too Partnership which is a partnership with the four directors. The addition in the year is the return on this investment.
7. Stocks
2024 2023
£ £
Stock 59,915 129,056
8. Debtors
2024 2023
£ £
Due within one year
Other debtors 93,828 117,691
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 80,095 218,620
Bank loans and overdrafts 42,554 44,569
Other creditors 8,143 49,598
Taxation and social security 142,043 121,122
272,835 433,909
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 42,727 83,265
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 60,100 60,100
Page 5
Page 6
12. Directors Advances, Credits and Guarantees
During the year the company made cash advances to the directors totalling £82,422 and repayments totalling £48,000 were made. The amount owed to the company at the balance sheet date was £1,070 and this amount is repayable on demand. Interest is charged on the outstanding balance at the official HMRC rate.
13. Reserves
Revaluation Reserve
£
As at 1 August 2023 205,096
As at 31 July 2024 205,096
Page 6