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REGISTERED NUMBER: 08155957 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

GOLDSTROM LIMITED

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


GOLDSTROM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: G D Davis
K Edwards
M Jarvstrom





SECRETARY: K Edwards





REGISTERED OFFICE: The Opal Building Crown Point
Stafford Park 6
Telford
Shropshire
TF3 3AT





REGISTERED NUMBER: 08155957 (England and Wales)





AUDITORS: Crombies Accountants Limited
Chartered Accountants and Statutory Auditor
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their strategic report of the company and the group for the year ended 30 September 2024.

REVIEW OF BUSINESS
The group has over the past year managed to successfully navigate the continued raw material supply challenges as well as the huge impact of the energy crisis. Labour shortage continues to be a limiting factor this year which the group has had to address but will have, undoubtedly, affected the performance of the group as well as many of our suppliers and customers.

The group continues to drive energy efficiency as well as productivity improvements. This work will continue into the new year to mitigate further energy and raw material cost increases as much as possible. There has been several projects completed in the year resulting in reduced energy and carbon footprint with more planned for the following year.

The packaging sector has remained buoyant throughout the year, both for food and non-food items. The drive towards easily recyclable flexible film materials has continued at pace. Many new medium and high barrier applications have been introduced with several still in trial stages.

The combination of highly skilled and motivated people with good infrastructure and sound finances gives the group a strong position to serve the UK market with more of high quality and cost-effective flexible packaging with fast deliveries going forward.

PRINCIPAL RISKS AND UNCERTAINTIES
The group faces a number of risks and uncertainties that may have an impact on its operation or future performance.

It is important for the Board to effectively manage risk and opportunities in seeking to achieve the group's objectives. The directors have overall responsibility for risk management and internal control systems.

The risks and uncertainties described below represent those which the directors consider to be the most significant in achieving the group's objectives.

UK economic conditions - The current economic conditions in the UK have not had a detrimental effect on the group but it is still a risk and uncertainty for the future.

Exchange rate and interest rate fluctuations - These will impact on the operational and finance costs of the group.

Law and regulations - Violations in food hygiene regulations could lead to reputations damage and loss in income.

Competition - Any new competitors in the industry or in the area could be a risk to the group.

ON BEHALF OF THE BOARD:





M Jarvstrom - Director


31 March 2025

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 September 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of the printing, conversion and distribution of polythene packaging film.

DIVIDENDS
Interim dividends were paid throughout the year totalling £154,402.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

G D Davis
K Edwards
M Jarvstrom

KEY PERFORMANCE INDICATORS
Given the straightforward nature of the business, the director's are of the opinion that analysis using KPI's is not necessary for an understanding of the development, performance or position of the company.

GOING CONCERN
No material uncertainties that cast doubt about the ability of the group to continue as a going concern have been identified by the directors. Based on their assessment of the group's financial position, the group's directors have a reasonable expectation that the group will be able to continue in operational existence for the foreseeable future. Therefore, they continue to adopt the going concern basis of accounting in preparing the financial statements.

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


AUDITORS
The auditors, Crombies Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M Jarvstrom - Director


31 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GOLDSTROM LIMITED

Opinion
We have audited the financial statements of Goldstrom Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, 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).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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.

Conclusions relating to going concern
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 group's and the parent 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GOLDSTROM LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GOLDSTROM LIMITED


Auditors' responsibilities for the audit of the financial statements
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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

-the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-we identified the laws and regulations applicable to the company through discussions with directors and other management

-we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental (including Waste Electrical and Electronic Equipment recycling (WEEE) Regulations 2013) and health and safety legislation;

-we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
-making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
-considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
-performed analytical procedures to identify any unusual or unexpected relationships;
-tested journal entries to identify unusual transactions;
-assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and
-investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
-agreeing financial statement disclosures to underlying supporting documentation;
-reading the minutes of meetings of those charged with governance;
-enquiring of management as to actual and potential litigation and claims; and
-reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GOLDSTROM LIMITED


Use of our 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 a Report of the Auditors 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.




Mark Fletcher BSc ACA (Senior Statutory Auditor)
for and on behalf of Crombies Accountants Limited
Chartered Accountants and Statutory Auditor
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

31 March 2025

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £    £   

TURNOVER 11,561,933 10,250,421

Cost of sales 9,146,551 8,070,980
GROSS PROFIT 2,415,382 2,179,441

Administrative expenses 2,112,367 1,963,819
303,015 215,622

Other operating income - 117,504
OPERATING PROFIT 4 303,015 333,126


Interest payable and similar expenses 5 176,327 131,024
PROFIT BEFORE TAXATION 126,688 202,102

Tax on profit 6 (143,957 ) (24,957 )
PROFIT FOR THE FINANCIAL YEAR 270,645 227,059
Profit attributable to:
Owners of the parent 270,645 227,059

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 270,645 227,059


OTHER COMPREHENSIVE INCOME
Purchase of own shares - (164,521 )
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

-

(164,521

)
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

270,645

62,538

Total comprehensive income attributable to:
Owners of the parent 270,645 62,538

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

CONSOLIDATED BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 1,705,725 1,928,099
Investments 10 - -
1,705,725 1,928,099

CURRENT ASSETS
Stocks 11 1,852,364 1,546,688
Debtors 12 2,882,896 2,282,365
Cash at bank 369,210 53,003
5,104,470 3,882,056
CREDITORS
Amounts falling due within one year 13 4,883,980 3,954,194
NET CURRENT ASSETS/(LIABILITIES) 220,490 (72,138 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,926,215

1,855,961

CREDITORS
Amounts falling due after more than one
year

14

(199,268

)

(226,085

)

PROVISIONS FOR LIABILITIES 16 (317,196 ) (336,368 )
NET ASSETS 1,409,751 1,293,508

CAPITAL AND RESERVES
Called up share capital 17 3,570 3,570
Share premium 18 98,930 98,930
Capital redemption reserve 18 2,935 2,935
Retained earnings 18 1,304,316 1,188,073
SHAREHOLDERS' FUNDS 1,409,751 1,293,508

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:





M Jarvstrom - Director


GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

COMPANY BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 - -
Investments 10 2,203,930 2,203,930
2,203,930 2,203,930

CURRENT ASSETS
Debtors 12 41,284 510
Cash at bank 462 2,490
41,746 3,000
CREDITORS
Amounts falling due within one year 13 2,123,425 2,084,540
NET CURRENT LIABILITIES (2,081,679 ) (2,081,540 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

122,251

122,390

CAPITAL AND RESERVES
Called up share capital 17 3,570 3,570
Share premium 18 98,930 98,930
Capital redemption reserve 18 2,935 2,935
Retained earnings 18 16,816 16,955
SHAREHOLDERS' FUNDS 122,251 122,390

Company's profit for the financial year 154,263 297,674

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:





M Jarvstrom - Director


GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 October 2022 4,049 1,280,416 98,930

Changes in equity
Issue of share capital (479 ) - -
Dividends - (154,402 ) -
Total comprehensive income - 62,059 -
Balance at 30 September 2023 3,570 1,188,073 98,930

Changes in equity
Dividends - (154,402 ) -
Total comprehensive income - 270,645 -
Balance at 30 September 2024 3,570 1,304,316 98,930
Capital
redemption Other Total
reserve reserves equity
£    £    £   
Balance at 1 October 2022 2,456 - 1,385,851

Changes in equity
Issue of share capital - - (479 )
Dividends - - (154,402 )
Total comprehensive income 479 - 62,538
Balance at 30 September 2023 2,935 - 1,293,508

Changes in equity
Dividends - - (154,402 )
Total comprehensive income - - 270,645
Balance at 30 September 2024 2,935 - 1,409,751

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 October 2022 4,049 38,683 98,930

Changes in equity
Issue of share capital (479 ) - -
Dividends - (154,402 ) -
Total comprehensive income - 132,674 -
Balance at 30 September 2023 3,570 16,955 98,930

Changes in equity
Dividends - (154,402 ) -
Total comprehensive income - 154,263 -
Balance at 30 September 2024 3,570 16,816 98,930
Capital
redemption Other Total
reserve reserves equity
£    £    £   
Balance at 1 October 2022 2,456 - 144,118

Changes in equity
Issue of share capital - - (479 )
Dividends - - (154,402 )
Total comprehensive income 479 - 133,153
Balance at 30 September 2023 2,935 - 122,390

Changes in equity
Dividends - - (154,402 )
Total comprehensive income - - 154,263
Balance at 30 September 2024 2,935 - 122,251

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 827,232 600,231
Interest paid (156,064 ) (111,701 )
Interest element of hire purchase payments
paid

(20,263

)

(19,323

)
Tax paid (40,091 ) (1,020 )
Net cash from operating activities 610,814 468,187

Cash flows from investing activities
Purchase of tangible fixed assets (60,044 ) (468,455 )
Sale of tangible fixed assets - 8,199
Net cash from investing activities (60,044 ) (460,256 )

Cash flows from financing activities
Capital repayments in year (80,161 ) 152,221
Amount introduced by directors 77,201 -
Amount withdrawn by directors (77,201 ) -
Share buyback - (165,000 )
Equity dividends paid (154,402 ) (154,402 )
Net cash from financing activities (234,563 ) (167,181 )

Increase/(decrease) in cash and cash equivalents 316,207 (159,250 )
Cash and cash equivalents at beginning of
year

2

53,003

212,253

Cash and cash equivalents at end of year 2 369,210 53,003

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2024 2023
£    £   
Profit before taxation 126,688 202,102
Depreciation charges 282,417 296,731
Loss on disposal of fixed assets - 1,615
Finance costs 176,327 131,024
585,432 631,472
Increase in stocks (305,676 ) (187,010 )
(Increase)/decrease in trade and other debtors (473,719 ) 279,698
Increase/(decrease) in trade and other creditors 1,021,195 (123,929 )
Cash generated from operations 827,232 600,231

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2024
30.9.24 1.10.23
£    £   
Cash and cash equivalents 369,210 53,003
Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 53,003 212,253


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.10.23 Cash flow At 30.9.24
£    £    £   
Net cash
Cash at bank 53,003 316,207 369,210
53,003 316,207 369,210
Debt
Finance leases (376,978 ) 80,161 (296,817 )
(376,978 ) 80,161 (296,817 )
Total (323,975 ) 396,368 72,393

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Goldstrom Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The consolidated financial statements comprise the accounts of Goldstrom Limited and its wholly owned subsidiary, TCL Packaging Limited, made up to 30th September 2024. TCL Packaging Limited operates in the polythene packaging film industry.

Significant judgements and estimates
Management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised id the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 5% - 20% on cost
Fixtures and fittings - 10% - 20% on cost
Motor vehicles - 15% on cost

Stocks
Raw material stocks are valued on an average cost basis. Work in Progress is valued based on the degree of completion reached at the balance sheet date. Finished Goods are valued at 90% of the selling value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,294,858 2,096,513
Social security costs 802 -
2,295,660 2,096,513

The average number of employees during the year was as follows:
2024 2023

Salary employees 25 23
Wages employees 51 45
76 68

The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2023 - NIL).

2024 2023
£    £   
Directors' remuneration 31,488 35,313

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 22,981 14,837
Depreciation - owned assets 255,268 213,711
Depreciation - assets on hire purchase contracts 27,150 83,020
Loss on disposal of fixed assets - 1,615
Auditors' remuneration 7,504 11,966

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 117,773 80,494
Sales finance charge 32,460 31,207
Interest payable 5,831 -
Hire purchase 20,263 19,323
176,327 131,024

6. TAXATION

Analysis of the tax credit
The tax credit on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax (24,052 ) (53,540 )
Overprovision in respect of prior years (100,733 ) (7,518 )
Total current tax (124,785 ) (61,058 )

Deferred tax (19,172 ) 36,101
Tax on profit (143,957 ) (24,957 )

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. TAXATION - continued

Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 126,688 202,102
Profit multiplied by the standard rate of corporation tax in the UK of 19 %
(2023 - 22 %)

24,071

44,462

Effects of:
Expenses not deductible for tax purposes 385 434
Depreciation in excess of capital allowances 26,740 -
Adjustments to tax charge in respect of previous periods (100,734 ) (7,518 )
R&D enhanced expenditure (51,195 ) (53,540 )
Deferred Tax (19,172 ) 4,333
Super deduction - (13,128 )
R&D Tax credits (24,052 ) -
Total tax credit (143,957 ) (24,957 )

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 30 September 2024.

2023
Gross Tax Net
£    £    £   
Purchase of own shares (164,521 ) - (164,521 )

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
2024 2023
£    £   
Ordinary A shares of 1 each
Interim 154,402 154,402

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. TANGIBLE FIXED ASSETS

Group
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023 7,121,658 411,310 106,591 7,639,559
Additions 60,044 - - 60,044
At 30 September 2024 7,181,702 411,310 106,591 7,699,603
DEPRECIATION
At 1 October 2023 5,334,793 357,917 18,750 5,711,460
Charge for year 244,650 20,768 17,000 282,418
At 30 September 2024 5,579,443 378,685 35,750 5,993,878
NET BOOK VALUE
At 30 September 2024 1,602,259 32,625 70,841 1,705,725
At 30 September 2023 1,786,865 53,393 87,841 1,928,099

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 October 2023 3,735,194 106,591 3,841,785
Transfer to ownership (3,362,734 ) - (3,362,734 )
At 30 September 2024 372,460 106,591 479,051
DEPRECIATION
At 1 October 2023 3,027,306 18,750 3,046,056
Charge for year 10,150 17,000 27,150
Transfer to ownership (3,003,754 ) - (3,003,754 )
At 30 September 2024 33,702 35,750 69,452
NET BOOK VALUE
At 30 September 2024 338,758 70,841 409,599
At 30 September 2023 707,888 87,841 795,729

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 2,203,930
NET BOOK VALUE
At 30 September 2024 2,203,930
At 30 September 2023 2,203,930


11. STOCKS

Group
2024 2023
£    £   
Stocks 1,451,912 1,025,410
Work-in-progress 150,574 146,071
Finished goods 249,878 375,207
1,852,364 1,546,688

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 2,468,635 2,026,363 - -
Other debtors - 510 - 510
Tax 180,351 53,540 41,284 -
Prepayments 233,910 201,952 - -
2,882,896 2,282,365 41,284 510

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Hire purchase contracts (see note 15) 97,549 150,893 - -
Trade creditors 2,390,667 1,951,564 - -
Amounts owed to group undertakings - - 2,121,425 2,040,125
Tax - 38,065 - 38,065
Social security and other taxes 317,212 288,850 - 4,400
Sales financing account 1,984,791 1,460,140 - -
Accrued expenses 93,761 64,682 2,000 1,950
4,883,980 3,954,194 2,123,425 2,084,540

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2024 2023
£    £   
Hire purchase contracts (see note 15) 199,268 226,085

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 97,549 150,893
Between one and five years 199,268 226,085
296,817 376,978

16. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 317,196 336,368

Group
Deferred
tax
£   
Balance at 1 October 2023 336,368
Provided during year (19,172 )
Balance at 30 September 2024 317,196

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3,515 Ordinary A 1 3,515 3,515
55 Ordinary B 1 55 55
3,570 3,570

GOLDSTROM LIMITED (REGISTERED NUMBER: 08155957)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

18. RESERVES

Group
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 October 2023 1,188,073 98,930 2,935 1,289,938
Profit for the year 270,645 270,645
Dividends (154,402 ) (154,402 )
At 30 September 2024 1,304,316 98,930 2,935 1,406,181

Company
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 October 2023 16,955 98,930 2,935 118,820
Profit for the year 154,263 154,263
Dividends (154,402 ) (154,402 )
At 30 September 2024 16,816 98,930 2,935 118,681