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Registered number: 04585641
Goodvale Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
FB Accountancy Services Limited
Chartered Certified Accountants
Unit 16, Heronsgate Trading Estate
Paycocke Road
Basildon
Essex
SS14 3EU
Contents
Page
Accountant's Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Goodvale Limited For The Year Ended 30 November 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Goodvale Limited which comprise the Income Statement, the Statement of Financial Position and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Goodvale Limited , as a body, in accordance with the terms of our engagement letter dated 06 August 2021. Our work has been undertaken solely to prepare for your approval the accounts of Goodvale Limited and state those matters that we have agreed to state to the directors of Goodvale Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Goodvale Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Goodvale Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Goodvale Limited . You consider that Goodvale Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Goodvale Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
16/06/2025
FB Accountancy Services Limited
Chartered Certified Accountants
Unit 16, Heronsgate Trading Estate
Paycocke Road
Basildon
Essex
SS14 3EU
Page 1
Page 2
Statement of Financial Position
Registered number: 04585641
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 - 2,742
- 2,742
CURRENT ASSETS
Debtors 6 568,727 367,578
Cash at bank and in hand 19,450 26,526
588,177 394,104
Creditors: Amounts Falling Due Within One Year 7 (522,315 ) (376,026 )
NET CURRENT ASSETS (LIABILITIES) 65,862 18,078
TOTAL ASSETS LESS CURRENT LIABILITIES 65,862 20,820
Creditors: Amounts Falling Due After More Than One Year 8 (6,667 ) (16,667 )
NET ASSETS 59,195 4,153
CAPITAL AND RESERVES
Called up share capital 10 5 5
Income Statement 59,190 4,148
SHAREHOLDERS' FUNDS 59,195 4,153
Page 2
Page 3
For the year ending 30 November 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 Income Statement.
On behalf of the board
Mr George Martin
Director
16/06/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Goodvale Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04585641 . The registered office is 16 Heronsgate Trading Estate, Paycocke Road, Basildon, Essex, SS14 3EU.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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 income statement over its estimated economic life.
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:
Plant & Machinery 25% reducing balance
Computer Equipment 33% reducing balance
2.5. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 5
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2023: 17)
18 17
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2023 2,000
As at 30 November 2024 2,000
Amortisation
As at 1 December 2023 2,000
As at 30 November 2024 2,000
Net Book Value
As at 30 November 2024 -
As at 1 December 2023 -
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 December 2023 6,500 2,212 8,712
Disposals (6,500 ) - (6,500 )
As at 30 November 2024 - 2,212 2,212
Depreciation
As at 1 December 2023 3,758 2,212 5,970
Disposals (3,758 ) - (3,758 )
As at 30 November 2024 - 2,212 2,212
Net Book Value
As at 30 November 2024 - - -
As at 1 December 2023 2,742 - 2,742
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 486,512 280,375
Other debtors 53,816 45,894
Deferred tax current asset 28,399 41,309
568,727 367,578
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Page 6
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 176,211 146,977
Bank loans and overdrafts 10,000 10,000
Other taxes and social security 64,913 48,338
Other creditors 271,191 170,711
522,315 376,026
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 6,667 16,667
9. Secured Creditors
Included in other creditors is an amount owed relating to invoice finance, secured against the company's assets.
2024 2023
£ £
Other Creditors 259,779 148,287
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5 5
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 358,909 338,625
Later than one year and not later than five years 700,018 945,316
Later than five years - 33,615
1,058,927 1,317,556
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