GOSHEN DWELLINGS LTD

Company Registration Number:
15530672 (England and Wales)

Unaudited abridged accounts for the year ended 28 February 2025

Period of accounts

Start date: 28 February 2024

End date: 28 February 2025

GOSHEN DWELLINGS LTD

Contents of the Financial Statements

for the Period Ended 28 February 2025

Balance sheet
Notes

GOSHEN DWELLINGS LTD

Balance sheet

As at 28 February 2025


Notes

2025


£
Fixed assets
Tangible assets: 3 360
Investments: 4 100,481
Total fixed assets: 100,841
Current assets
Debtors: 5 1,120
Cash at bank and in hand: 779
Total current assets: 1,899
Creditors: amounts falling due within one year:   (450)
Net current assets (liabilities): 1,449
Total assets less current liabilities: 102,290
Creditors: amounts falling due after more than one year: 6 (107,783)
Total net assets (liabilities): (5,493)
Capital and reserves
Called up share capital: 2
Profit and loss account: (5,495)
Shareholders funds: (5,493)

The notes form part of these financial statements

GOSHEN DWELLINGS LTD

Balance sheet statements

For the year ending 28 February 2025 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 06 May 2025
and signed on behalf of the board by:

Name: Adeyemi Joseph Ajayi
Status: Director

The notes form part of these financial statements

GOSHEN DWELLINGS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2025

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets and depreciation policy

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Plant and machinery - 20% reducing balance

Other accounting policies

Investments Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. Debtors Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

GOSHEN DWELLINGS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2025

2. Employees

2025
Average number of employees during the period 2

GOSHEN DWELLINGS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2025

3. Tangible Assets

Total
Cost £
Additions 450
At 28 February 2025 450
Depreciation
Charge for year 90
At 28 February 2025 90
Net book value
At 28 February 2025 360

GOSHEN DWELLINGS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2025

4. Fixed investments

An investment property with a carrying value of £100,481 was purchased during the year ended 28th February 2025. Based on the recent market transactions, the directors consider that the value of the property has not been changed since the purchase date.

GOSHEN DWELLINGS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2025

5. Debtors

2025
£
Debtors due after more than one year: 1,120

A deferred tax asset of £1,120 has been recognised, comprising £1,188 relating to unrelieved tax losses and a £68 deferred tax liability arising from temporary differences on plant and machinery. The asset has been recognised on the basis that it is probable that future taxable profits will be available against which the losses can be utilised

GOSHEN DWELLINGS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2025

6. Creditors: amounts falling due after more than one year note

Included within creditors falling due after more than one year is an interest-only mortgage of £76,296, repayable in full at the end of a 34-year term. The mortgage is secured by a legal charge over company property. Interest is payable monthly at a fixed rate of 5.99% for the first 61 months, and thereafter at a variable rate of 8.99% for the remaining 347 months.

GOSHEN DWELLINGS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2025

7. Related party transactions

Name of the related party:
Relationship:
Director
Description of the Transaction: During the year, Mr A J Ajayi and Mrs G O Ajayi, both directors of the company, advanced funds totaling £31,487 to the company. The loan is unsecured, interest-free, and has no fixed repayment terms. As at 28 February 2025, the outstanding balance of the loan was £31,487 (2024: £0). This transaction was conducted on terms not equivalent to an arm's length transaction and is disclosed in accordance with Section 1A of FRS 102 and Section 413 of the Companies Act 2006. The balance is included within creditors falling due after more than one year.
£
Balance at 28 February 2025 31,487