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REGISTERED NUMBER: 08742589 (England and Wales)















Goldex Investments (Kent) Limited

Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 October 2024






Goldex Investments (Kent) Limited (Registered number: 08742589)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 5

Statement of Comprehensive Income 9

Statement of Financial Position 10

Statement of Changes in Equity 11

Statement of Cash Flows 12

Notes to the Statement of Cash Flows 13

Notes to the Financial Statements 14


Goldex Investments (Kent) Limited

Company Information
for the Year Ended 31 October 2024







DIRECTOR: D S Brar



REGISTERED OFFICE: Warwick House
Park Corner Road
Betsham
Southfleet
Kent
DA13 9LN



REGISTERED NUMBER: 08742589 (England and Wales)



SENIOR STATUTORY AUDITOR: Jon Spurling FCCA



AUDITORS: Spurling Cannon Audit Limited
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

Goldex Investments (Kent) Limited (Registered number: 08742589)

Strategic Report
for the Year Ended 31 October 2024

The director presents his strategic report for the accounting period ended 31 October 2024.

The company's main objectives remain to increase revenues by way of increased market penetration by attracting customers from competitors, together with the occasional establishment of new Costa Coffee shops throughout the county of Kent.

REVIEW OF BUSINESS
In the past year Goldex Investments Kent Ltd has maintained its share of the market with their existing stores. The turnover of Goldex Investments Kent Ltd is derived from running Kent based stores.

Goldex Investments Kent Ltd has achieved a turnover for the year of £6,847,474, increased from £6,516,310 in the previous year. The gross profit of the company for the year increased to £2,499,329 from £2,085,417 in the previous year. Furthermore, for the year the company displayed strong performance with an operating profit of £755,267 from £203,039 in the previous year.

This increase in performance is due to a variety of factors: Firstly, there was stability in the cost of living crisis and strong macroeconomic performance across the country which boosted the disposable income of individuals and families. Furthermore, on an internal level the company was able to focus on carrying out an audit of high and low selling products and align their offerings to products displaying consistently strong demand amongst the customer base.

The company was also able to significantly reduce its purchases by focusing on eliminating stock of low selling products and transferring stock between stores instead of making new purchases. Furthermore, the company was also able to significantly reduce its total expenditures due to stability in the energy market as the volatility in the market due to geopolitical shocks subsided and the company was able to lock in better rates compared to previous periods.

The company is well placed in the market for 2025 with strong demand in the restaurant sector. There are no plans to open any new stores in the next financial year.

PRINCIPAL RISKS AND UNCERTAINTIES
A key risk to the company is its dependence upon the Costa Coffee franchise and competitor pricing positions. The focus for Goldex Investments Kent Ltd is to continue to deliver quality products with a range of price points to ensure value for all customers.

From a climate related perspective, the company understands that there can be a variety of risks and opportunities. Key climate related risks which can affect the company can be extreme weather events such as floods, storms and heatwaves which can impact company operations through closures or additional costs and thereby resulting in financial losses. Furthermore, policy and regulatory changes by the government can also affect company operations whereby there can be increased carbon and green levy taxes.

There are significant opportunities arising from a climate related perspective, these can include the investment in energy efficiency equipment and infrastructure which can result in lower operating costs and a reduction in carbon footprint. The risks associated with policy and regulatory changes can be offset by incentives offered to shift towards low emission green energy sources which would not be as susceptible to geopolitical shocks thereby resulting in a stability in energy costs.

The directors have plans and procedures in place to mitigate any risks and uncertainties affecting the company operations and that of its customers and suppliers.


Goldex Investments (Kent) Limited (Registered number: 08742589)

Strategic Report
for the Year Ended 31 October 2024

KEY PERFORMANCE INDICATORS
The directors consider that, in view of the nature of the company's business and its management structure, analysis of KPIs are not necessary to enable evaluation of its performance.

ON BEHALF OF THE BOARD:





D S Brar - Director


25 July 2025

Goldex Investments (Kent) Limited (Registered number: 08742589)

Report of the Director
for the Year Ended 31 October 2024

The director presents his report with the financial statements of the company for the year ended 31 October 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of managing coffee shops.

DIVIDENDS
No dividends will be distributed for the year ended 31 October 2024.

DIRECTOR
D S Brar held office during the whole of the period from 1 November 2023 to the date of this report.

DIRECTOR'S RESPONSIBILITIES STATEMENT
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company 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 director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he 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 company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





D S Brar - Director


25 July 2025

Report of the Independent Auditors to the Members of
Goldex Investments (Kent) Limited

Opinion
We have audited the financial statements of Goldex Investments (Kent) Limited (the 'company') for the year ended 31 October 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 company's affairs as at 31 October 2024 and of its 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 company 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 director's 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 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Goldex Investments (Kent) Limited


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

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, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Director's Responsibilities Statement set out on page four, the director is 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 director determines 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 director is responsible for assessing the 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Goldex Investments (Kent) 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulations, was as follows:-
- 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, and from our commercial knowledge and experience of the business sector;
- 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 and legislation data protection, anti-bribery, employment and health and safety legislation;
- We assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management; and
- Identified laws and regulations that 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 were indicative
of potential bias; and
- Investigated the rationale behind significant or unusual transactions.

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
Goldex Investments (Kent) 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.




Jon Spurling FCCA (Senior Statutory Auditor)
for and on behalf of Spurling Cannon Audit Limited
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

25 July 2025

Goldex Investments (Kent) Limited (Registered number: 08742589)

Statement of Comprehensive
Income
for the Year Ended 31 October 2024

2024 2023
Notes £    £   

TURNOVER 6,847,474 6,516,310

Cost of sales 4,348,145 4,430,893
GROSS PROFIT 2,499,329 2,085,417

Administrative expenses 1,512,675 1,781,881
986,654 303,536

Other operating income 7,813 7,035
994,467 310,571

Interest receivable and similar income 80 -
994,547 310,571

Interest payable and similar expenses 4 - 1,404
PROFIT BEFORE TAXATION 5 994,547 309,167

Tax on profit 7 271,681 106,128
PROFIT FOR THE FINANCIAL YEAR 722,866 203,039

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

722,866

203,039

Goldex Investments (Kent) Limited (Registered number: 08742589)

Statement of Financial Position
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 688,884 798,694
688,884 798,694

CURRENT ASSETS
Inventories 10 61,921 62,271
Debtors 11 6,566,788 5,568,378
Cash at bank and in hand 182,454 245,119
6,811,163 5,875,768
CREDITORS
Amounts falling due within one year 12 898,222 791,079
NET CURRENT ASSETS 5,912,941 5,084,689
TOTAL ASSETS LESS CURRENT LIABILITIES 6,601,825 5,883,383

PROVISIONS FOR LIABILITIES 14 101,596 106,020
NET ASSETS 6,500,229 5,777,363

CAPITAL AND RESERVES
Called up share capital 15 100 100
Retained earnings 6,500,129 5,777,263
SHAREHOLDERS' FUNDS 6,500,229 5,777,363

The financial statements were approved by the director and authorised for issue on 25 July 2025 and were signed by:





D S Brar - Director


Goldex Investments (Kent) Limited (Registered number: 08742589)

Statement of Changes in Equity
for the Year Ended 31 October 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 November 2022 100 5,574,224 5,574,324

Changes in equity
Profit for the year - 203,039 203,039
Total comprehensive income - 203,039 203,039
Balance at 31 October 2023 100 5,777,263 5,777,363

Changes in equity
Profit for the year - 722,866 722,866
Total comprehensive income - 722,866 722,866
Balance at 31 October 2024 100 6,500,129 6,500,229

Goldex Investments (Kent) Limited (Registered number: 08742589)

Statement of Cash Flows
for the Year Ended 31 October 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 74,021 120,393
Interest paid - (1,403 )
Tax paid (102,811 ) (150,802 )
Net cash from operating activities (28,790 ) (31,812 )

Cash flows from investing activities
Purchase of tangible fixed assets (33,955 ) (40,316 )
Interest received 80 -
Net cash from investing activities (33,875 ) (40,316 )

Decrease in cash and cash equivalents (62,665 ) (72,128 )
Cash and cash equivalents at beginning of
year

2

245,119

317,247

Cash and cash equivalents at end of year 2 182,454 245,119

Goldex Investments (Kent) Limited (Registered number: 08742589)

Notes to the Statement of Cash Flows
for the Year Ended 31 October 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 994,547 309,167
Depreciation charges 143,765 205,524
Finance costs - 1,404
Finance income (80 ) -
1,138,232 516,095
Decrease/(increase) in inventories 350 (8,006 )
Increase in trade and other debtors (998,410 ) (500,204 )
(Decrease)/increase in trade and other creditors (66,151 ) 112,508
Cash generated from operations 74,021 120,393

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 October 2024
31.10.24 1.11.23
£    £   
Cash and cash equivalents 182,454 245,119
Year ended 31 October 2023
31.10.23 1.11.22
£    £   
Cash and cash equivalents 245,119 317,247


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.11.23 Cash flow At 31.10.24
£    £    £   
Net cash
Cash at bank and in hand 245,119 (62,665 ) 182,454
245,119 (62,665 ) 182,454
Total 245,119 (62,665 ) 182,454

Goldex Investments (Kent) Limited (Registered number: 08742589)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Goldex Investments (Kent) 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 Company Information page.

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


Monetary amounts in these financial statements are rounded to the nearest £.

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.

The Directors have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the accounts.

Income recognition
Income represents net invoiced sales of goods and services, excluding value added tax. Income is recognised when the company becomes entitled to receive it.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Short leasehold - Over the term of the lease
Fixtures and fittings - 15% on reducing balance

Inventories
Inventories are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first out) basis. Provision is made for obsolete or defective inventories where appropriate.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.


Goldex Investments (Kent) Limited (Registered number: 08742589)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
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 company operates a defined contribution pension scheme. Contributions payable to the company'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 1,906,405 1,740,231
Social security costs 105,178 93,426
Other pension costs 21,542 22,355
2,033,125 1,856,012

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

Staff 123 125

2024 2023
£    £   
Director's remuneration - -

Goldex Investments (Kent) Limited (Registered number: 08742589)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Other interest - 1,404

5. PROFIT BEFORE TAXATION

The profit is stated after charging:

2024 2023
£    £   
Other operating leases 463,116 464,298
Depreciation - owned assets 143,765 205,526

6. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

5,500

6,000

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 276,104 99,643

Deferred tax (4,423 ) 6,485
Tax on profit 271,681 106,128

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

2024 2023
£    £   
Profit before tax 994,547 309,167
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 22.518%)

248,637

69,618

Effects of:
Expenses not deductible for tax purposes 15 70
Depreciation in excess of capital allowances 27,452 29,956
Increase/(release)of deferred tax provision (4,423 ) 6,484
Total tax charge 271,681 106,128

Goldex Investments (Kent) Limited (Registered number: 08742589)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

8. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 November 2023
and 31 October 2024 95,000
AMORTISATION
At 1 November 2023
and 31 October 2024 95,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

9. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 November 2023 774,061 1,962,222 2,736,283
Additions 23,827 10,128 33,955
At 31 October 2024 797,888 1,972,350 2,770,238
DEPRECIATION
At 1 November 2023 594,564 1,343,025 1,937,589
Charge for year 49,852 93,913 143,765
At 31 October 2024 644,416 1,436,938 2,081,354
NET BOOK VALUE
At 31 October 2024 153,472 535,412 688,884
At 31 October 2023 179,497 619,197 798,694

10. INVENTORIES
2024 2023
£    £   
Inventories 61,921 62,271

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 6,510,190 5,501,412
Prepayments and accrued income 56,598 66,966
6,566,788 5,568,378

Goldex Investments (Kent) Limited (Registered number: 08742589)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 344,757 429,675
Corporation tax 276,104 102,811
Social security and other taxes 22,303 20,299
VAT 184,237 208,293
Other creditors 49,591 4,012
Accruals 21,230 25,989
898,222 791,079

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 420,929 432,525
Between one and five years 1,448,937 1,469,660
In more than five years 821,688 998,701
2,691,554 2,900,886

14. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 101,596 106,020

Deferred
tax
£   
Balance at 1 November 2023 106,020
Credit to Statement of Comprehensive Income during year (4,424 )
Balance at 31 October 2024 101,596

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

16. CONTINGENT LIABILITIES

Goldex Investments (Kent) Ltd is part of a group VAT registration. In accordance with HMRC regulations all members of a VAT group are jointly and severally liable for the liability of all members of the group.
At the balance sheet date, the group accounts included a total group VAT creditor amounting to £542,077. Of this amount £186,477 is included within debtors in the balance sheet of Goldex Investments (Kent) Ltd.

Goldex Investments (Kent) Limited (Registered number: 08742589)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

17. FINANCIAL COMMITMENTS

HSBC Bank PLC holds a composite guarantee and debenture over all the company's property and undertaking, totalling £7,500,047.

Charges by way of legal mortgage, all freehold (including commonhold) and leasehold land now vested in the company together with all buildings fixtures, fittings and fixed plant and machinery.

The Company agrees to pay and discharge the Debt when the same is due to be paid and discharged and the debenture comprises a floating charge of 3%.

There were no defaults or breaches of covenants during the year. The carrying value of assets subject to the debenture was £7,500,047.

18. RELATED PARTY DISCLOSURES

Included within debtors are the amounts of £6,437,072 due from Goldex Investments Ltd, £65,888 from Goldeggs Properties Ltd and £7,229 due to Brar.Sterling-Heights Ltd, companies in which the director is a mutual director.

Goldex Investments Limited, a company owned and controlled by D Brar, provides management services to Goldex Investments (Kent) Limited.

19. ULTIMATE CONTROLLING PARTY

The controlling party is D S Brar.