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Registration number: 03243137

Goldform Enterprises Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Goldform Enterprises Limited

Company Information

Director

Mr Majid Kahlil Ibrahim

Company secretary

Mrs Byda Nafii Ibrahim

Registered office

46a Park Avenue
Ruislip
Middlesex
HA4 7UH

Accountants

Mehta & Tengra
Chartered Accountants
9 Berners Place
London
W1T 3AD

 

Goldform Enterprises Limited

(Registration number: 03243137)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

2

168

Current assets

 

Stocks

6

64,865

126,365

Debtors

7

22,670

24,970

Investments

8

17,000

-

Cash at bank and in hand

 

103,936

802,803

 

208,471

954,138

Creditors: Amounts falling due within one year

9

(182,735)

(953,672)

Net current assets

 

25,736

466

Net assets

 

25,738

634

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

25,638

534

Shareholders' funds

 

25,738

634

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 July 2025
 

.........................................
Mr Majid Kahlil Ibrahim
Director

 

Goldform Enterprises Limited

Statement of Changes in Equity for the Year Ended 30 September 2024

Share capital
£

Retained earnings
£

Total
£

At 1 October 2023

100

534

634

Profit for the year

-

25,104

25,104

At 30 September 2024

100

25,638

25,738

Share capital
£

Retained earnings
£

Total
£

At 1 October 2022

100

(33,171)

(33,071)

Profit for the year

-

33,705

33,705

At 30 September 2023

100

534

634

 

Goldform Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
46a Park Avenue
Ruislip
Middlesex
HA4 7UH

These financial statements were authorised for issue by the director on 18 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and commission received on sale of heavy machinery in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Goldform Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & fittings

10% on cost

Computer equipment

10& on cost

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Goldform Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 2).

4

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

5,913

7,943

UK corporation tax adjustment to prior periods

(60)

(2)

5,853

7,941

 

Goldform Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 October 2023

630

7,330

7,960

At 30 September 2024

630

7,330

7,960

Depreciation

At 1 October 2023

629

7,163

7,792

Charge for the year

-

166

166

At 30 September 2024

629

7,329

7,958

Carrying amount

At 30 September 2024

1

1

2

At 30 September 2023

1

167

168

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

64,865

126,365

7

Debtors

Current

2024
£

2023
£

Trade debtors

22,620

24,920

Other debtors

50

50

 

22,670

24,970

8

Current asset investments

2024
£

2023
£

Other investments

17,000

-

 

Goldform Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

2,950

1,150

Other creditors

27

-

Due to related company

113,860

857,685

Other loans

36,200

36,200

Corporation tax

5,914

7,945

VAT

3,672

580

Directors current account

20,112

50,112

182,735

953,672

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

11

Related party transactions

Summary of transactions with entities with common control or significant interest

The director and shsreholder of Goldform Emterprise Ltd is also a director and shareholder of an overseas company.
 

Income and receivables from related parties

2024

Entities with joint control or significant influence
£

Sale of goods

743,825

2023

Entities with common control or significant influence
£

Sale of goods

295,250

 

Goldform Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Loans from related parties

2024

Entities with common control or significant influence
£

Total
£

At start of period

857,685

857,685

Repaid

(746,825)

(746,825)

At end of period

110,860

110,860

2023

Entities with common control or significant influence
£

Other related parties
£

Total
£

At start of period

1,192,898

590,000

1,782,898

Repaid

(335,213)

(590,000)

(925,213)

At end of period

857,685

-

857,685