Company registration number 02889662 (England and Wales)
GOODMOVE MOVING AND STORAGE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
GOODMOVE MOVING AND STORAGE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
GOODMOVE MOVING AND STORAGE LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
31,700
53,436
Tangible assets
5
154,266
55,100
185,966
108,536
Current assets
Debtors
6
45,531
215,721
Cash at bank and in hand
34,441
25,614
79,972
241,335
Creditors: amounts falling due within one year
7
(233,120)
(130,684)
Net current (liabilities)/assets
(153,148)
110,651
Total assets less current liabilities
32,818
219,187
Creditors: amounts falling due after more than one year
8
(225,000)
(225,000)
Provisions for liabilities
(15,637)
Net liabilities
(207,819)
(5,813)
Capital and reserves
Called up share capital
9
1
1
Profit and loss reserves
10
(207,820)
(5,814)
Total equity
(207,819)
(5,813)
The notes on pages 2 to 8 form part of these financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 19 June 2025 and are signed on its behalf by:
D J M Vitoria
Director
Company registration number 02889662 (England and Wales)
GOODMOVE MOVING AND STORAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -
1
Accounting policies
Company information
Goodmove Moving and Storage Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hillsons Road, Bottings Industrial Estate, Botley, Southampton, England, SO30 2DY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Whitport Limited. These consolidated financial statements are available from its registered office, Hillsons Road Bottings Industrial Estate, Botley, Southampton, England, SO30 2DY.
1.2
Going concern
These financial statements have been prepared on a going concern basis despite the excess of liabilities over assets at the balance sheet date. The parent company has indicated its willingness to continue to support the parent company for the foreseeable future. true
1.3
Turnover
Turnover arising from services provided is recognised in the period in which the services are provided to customers. Turnover is measured at fair value at the consideration received or receivable, excluding discounts, rebates and other sales taxes.
GOODMOVE MOVING AND STORAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 3 -
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
Over 1 to 8 years
Motor vehicles
Over 2 to 6 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
GOODMOVE MOVING AND STORAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
GOODMOVE MOVING AND STORAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
It is considered that the company has no significant judgements, estimates and assumptions that would have a material impact on the financial statements.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
21
22
GOODMOVE MOVING AND STORAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2024 and 31 January 2025
217,361
Amortisation and impairment
At 1 February 2024
163,925
Amortisation charged for the year
21,736
At 31 January 2025
185,661
Carrying amount
At 31 January 2025
31,700
At 31 January 2024
53,436
5
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 February 2024
77,437
290,851
368,288
Additions
3,915
136,003
139,918
Disposals
(4,137)
(4,137)
At 31 January 2025
81,352
422,717
504,069
Depreciation and impairment
At 1 February 2024
65,229
247,959
313,188
Depreciation charged in the year
4,059
36,693
40,752
Eliminated in respect of disposals
(4,137)
(4,137)
At 31 January 2025
69,288
280,515
349,803
Carrying amount
At 31 January 2025
12,064
142,202
154,266
At 31 January 2024
12,208
42,892
55,100
GOODMOVE MOVING AND STORAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
23,800
21,543
Corporation tax recoverable
13,100
Other debtors
21,731
167,877
45,531
202,520
Deferred tax asset
13,201
45,531
215,721
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
34,828
34,431
Amounts owed to group undertakings
112,999
48,163
Taxation and social security
54,781
20,976
Other creditors
859
Accruals and deferred income
29,653
27,114
233,120
130,684
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Unsecured loan owed to parent company
225,000
225,000
The amount owed to the parent company on loans more than one year are subject to interest charged at 6.75% at 31st January 2025 (2024: 7.25%) being 2% over bank rate.
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
GOODMOVE MOVING AND STORAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 8 -
10
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
(5,814)
59,905
Loss for the year
(202,006)
(65,719)
At the end of the year
(207,820)
(5,814)
11
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Mark Gregory ACA
Statutory Auditor:
Fiander Tovell Limited
Date of audit report:
19 June 2025
12
Capital commitments
Amounts contracted for but not provided in the financial statements:
2025
2024
£
£
Acquisition of tangible fixed assets
151,950
-
13
Related party transactions
Transactions with related parties
The company has taken advantage of the exemptions contained in Financial Reporting Standard 102. The company has not disclosed transactions with other group companies on the grounds that it is a wholly owned subsidiary and the group consolidated accounts are publicly available from Hillsons Road Bottings Industrial Estate, Botley, Southampton, England, SO30 2DY.
14
Parent company
The company is a wholly owned subsidiary of Whitport Limited, a company registered in England and Wales. There is no ultimate controlling party in Whitport Limited.
2025-01-312024-02-01falsefalsefalse19 June 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityD J M VitoriaMr A W WhiteMs I A TurnerI M PalmerMr R W WhiteD A HoareD J M Vitoria028896622024-02-012025-01-31028896622025-01-31028896622024-01-3102889662core:NetGoodwill2025-01-3102889662core:NetGoodwill2024-01-3102889662core:PlantMachinery2025-01-3102889662core:MotorVehicles2025-01-3102889662core:PlantMachinery2024-01-3102889662core:MotorVehicles2024-01-3102889662core:CurrentFinancialInstrumentscore:WithinOneYear2025-01-3102889662core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3102889662core:Non-currentFinancialInstrumentscore:AfterOneYear2025-01-3102889662core:Non-currentFinancialInstrumentscore:AfterOneYear2024-01-3102889662core:CurrentFinancialInstruments2025-01-3102889662core:CurrentFinancialInstruments2024-01-3102889662core:ShareCapital2025-01-3102889662core:ShareCapital2024-01-3102889662core:RetainedEarningsAccumulatedLosses2025-01-3102889662core:RetainedEarningsAccumulatedLosses2024-01-3102889662core:ShareCapitalOrdinaryShareClass12025-01-3102889662core:ShareCapitalOrdinaryShareClass12024-01-3102889662core:RetainedEarningsAccumulatedLosses2024-01-3102889662core:RetainedEarningsAccumulatedLosses2023-01-3102889662bus:CompanySecretaryDirector12024-02-012025-01-3102889662core:Goodwill2024-02-012025-01-3102889662core:PlantMachinery2024-02-012025-01-3102889662core:MotorVehicles2024-02-012025-01-31028896622023-02-012024-01-3102889662core:NetGoodwill2024-01-3102889662core:NetGoodwill2024-02-012025-01-3102889662core:PlantMachinery2024-01-3102889662core:MotorVehicles2024-01-31028896622024-01-3102889662core:WithinOneYear2025-01-3102889662core:WithinOneYear2024-01-3102889662core:Non-currentFinancialInstruments2025-01-3102889662core:Non-currentFinancialInstruments2024-01-3102889662bus:OrdinaryShareClass12024-02-012025-01-3102889662bus:OrdinaryShareClass12025-01-3102889662bus:OrdinaryShareClass12024-01-3102889662bus:PrivateLimitedCompanyLtd2024-02-012025-01-3102889662bus:FRS1022024-02-012025-01-3102889662bus:Audited2024-02-012025-01-3102889662bus:Director12024-02-012025-01-3102889662bus:Director22024-02-012025-01-3102889662bus:Director32024-02-012025-01-3102889662bus:Director42024-02-012025-01-3102889662bus:Director52024-02-012025-01-3102889662bus:Director62024-02-012025-01-3102889662bus:CompanySecretary12024-02-012025-01-3102889662bus:SmallCompaniesRegimeForAccounts2024-02-012025-01-3102889662bus:FilletedAccounts2024-02-012025-01-31xbrli:purexbrli:sharesiso4217:GBP