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REGISTERED NUMBER: 05593821 (England and Wales)















Goldex Investments Limited

Group Strategic Report, Report of the Director and

Consolidated Financial Statements for the Year Ended 31 October 2024






Goldex Investments Limited (Registered number: 05593821)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 6

Consolidated Statement of Comprehensive Income 10

Consolidated Statement of Financial Position 11

Company Statement of Financial Position 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Statement of Cash Flows 15

Notes to the Consolidated Statement of Cash Flows 16

Notes to the Consolidated Financial Statements 17


Goldex Investments Limited

Company Information
for the Year Ended 31 October 2024







DIRECTOR: D S Brar



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



REGISTERED NUMBER: 05593821 (England and Wales)



SENIOR STATUTORY AUDITOR: Jon Spurling FCCA



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

Goldex Investments Limited (Registered number: 05593821)

Group Strategic Report
for the Year Ended 31 October 2024

The directors present their Strategic Report for the year ended 31 October 2024.

OBJECTIVES
The Group's main objectives are to increase revenues by way of increased market penetration by attracting customers from competitors, together with the establishment of new Costa Coffee shops throughout the South East of England.

REVIEW OF BUSINESS
In the past year Goldex Investments Ltd and its subsidiary companies have maintained their share of the market with their existing stores. The turnover of Goldex Investments Ltd is derived from running Kent based stores, managing the trading activities of its subsidiary companies and other trading activities.

Turnover for the year was £12,972,324, giving a gross profit for the year of £3,920,740, an slight increase from last year of £3,847,787.

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.

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 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.

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.


Goldex Investments Limited (Registered number: 05593821)

Group Strategic Report
for the Year Ended 31 October 2024

GOING CONCERN
The financial statements are prepared on the going concern basis.

ON BEHALF OF THE BOARD:





D S Brar - Director


29 July 2025

Goldex Investments Limited (Registered number: 05593821)

Report of the Director
for the Year Ended 31 October 2024

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

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of managing coffee shops and refitting restaurants.

DIVIDENDS
The total distribution of dividends for the year ended 31 October 2024 was £175,000.

FUTURE DEVELOPMENTS
The director of the group proposes to continue their expansion of acquiring shops under the Costa Franchise chain throughout the South East of England.

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

POLITICAL AND CHARITABLE DONATIONS
The group did not make any political donations during the year.

EMPLOYEES
It is the policy of the Group to encourage and develop all members of staff to realise their maximum potential. The Group supports the principle of equal opportunities in employment and opposes all forms of unlawful or unfair discrimination on the grounds of race, age, nationality, religion, ethnic or national origin, marital status or disability. It is also the policy of the Group, where possible, to give sympathetic consideration to disabled persons in their application for employment within the Group and to protect the interests of existing members of the staff who are disabled.

DIRECTOR'S RESPONSIBILITIES STATEMENT
The director is responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 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 director is 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 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 group's auditors are aware of that information.

Goldex Investments Limited (Registered number: 05593821)

Report of the Director
for the Year Ended 31 October 2024


AUDITORS
The auditors, Spurling Cannon Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D S Brar - Director


29 July 2025

Report of the Independent Auditors to the Members of
Goldex Investments Limited

Opinion
We have audited the financial statements of Goldex Investments Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 October 2024 and of the group's loss 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 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 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 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 Group 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.

Report of the Independent Auditors to the Members of
Goldex Investments Limited


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 Director 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 Director have been prepared in accordance with applicable legal requirements.

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 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 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 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 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 director either intends to liquidate the group or the parent 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 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 group 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 group, 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 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 group'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.

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; and

- Enquiring of management as to actual and potential litigation and claims.


Report of the Independent Auditors to the Members of
Goldex Investments Limited

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.

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

29 July 2025

Goldex Investments Limited (Registered number: 05593821)

Consolidated
Statement of Comprehensive
Income
for the Year Ended 31 October 2024

2024 2023
Notes £    £   

TURNOVER 3 12,972,324 13,303,150

Cost of sales 9,051,584 9,455,272
GROSS PROFIT 3,920,740 3,847,878

Administrative expenses 4,450,933 4,405,976
(530,193 ) (558,098 )

Other operating income 282,560 450,230
(247,633 ) (107,868 )

Interest receivable and similar income 68,141 63,470
(179,492 ) (44,398 )

Interest payable and similar expenses 5 22,396 21,383
LOSS BEFORE TAXATION 6 (201,888 ) (65,781 )

Tax on loss 8 72,972 74,641
LOSS FOR THE FINANCIAL YEAR (274,860 ) (140,422 )

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE LOSS FOR THE YEAR (274,860 ) (140,422 )

Loss attributable to:
Owners of the parent (274,860 ) (140,422 )

Total comprehensive loss attributable to:
Owners of the parent (274,860 ) (140,422 )

Goldex Investments Limited (Registered number: 05593821)

Consolidated Statement of Financial Position
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 2,983,310 2,601,083
Investments 13
Interest in associate 113 71
Other investments 3 3
2,983,426 2,601,157

CURRENT ASSETS
Inventories 14 95,895 107,300
Debtors 15 19,143,868 18,207,931
Cash at bank and in hand 1,270,851 2,120,000
20,510,614 20,435,231
CREDITORS
Amounts falling due within one year 16 8,799,441 7,679,667
NET CURRENT ASSETS 11,711,173 12,755,564
TOTAL ASSETS LESS CURRENT LIABILITIES 14,694,599 15,356,721

CREDITORS
Amounts falling due after more than one
year

17

(245,747

)

(440,642

)

PROVISIONS FOR LIABILITIES 21 (194,789 ) (212,156 )
NET ASSETS 14,254,063 14,703,923

CAPITAL AND RESERVES
Called up share capital 22 380 400
Capital redemption reserve 140 120
Retained earnings 14,253,543 14,703,403
SHAREHOLDERS' FUNDS 27 14,254,063 14,703,923

The financial statements were approved by the director and authorised for issue on 29 July 2025 and were signed by:





D S Brar - Director


Goldex Investments Limited (Registered number: 05593821)

Company Statement of Financial Position
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 2,438,494 1,993,250
Investments 13 1,774,737 1,774,695
4,213,231 3,767,945

CURRENT ASSETS
Inventories 14 61,971 66,305
Debtors 15 18,998,366 18,190,497
Cash at bank and in hand 1,054,073 1,924,938
20,114,410 20,181,740
CREDITORS
Amounts falling due within one year 16 8,610,110 7,679,931
NET CURRENT ASSETS 11,504,300 12,501,809
TOTAL ASSETS LESS CURRENT LIABILITIES 15,717,531 16,269,754

CREDITORS
Amounts falling due after more than one
year

17

(140,849

)

(440,642

)

PROVISIONS FOR LIABILITIES 21 (134,438 ) (151,677 )
NET ASSETS 15,442,244 15,677,435

CAPITAL AND RESERVES
Called up share capital 22 380 400
Capital redemption reserve 140 120
Retained earnings 15,441,724 15,676,915
SHAREHOLDERS' FUNDS 27 15,442,244 15,677,435

Company's (loss)/profit for the financial
year

(60,191

)

114,855

The financial statements were approved by the director and authorised for issue on 29 July 2025 and were signed by:





D S Brar - Director


Goldex Investments Limited (Registered number: 05593821)

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

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 November 2022 400 15,018,825 120 15,019,345

Changes in equity
Deficit for the year - (140,422 ) - (140,422 )
Total comprehensive loss - (140,422 ) - (140,422 )
Dividends - (175,000 ) - (175,000 )
Balance at 31 October 2023 400 14,703,403 120 14,703,923

Changes in equity
Deficit for the year - (274,860 ) - (274,860 )
Total comprehensive loss - (274,860 ) - (274,860 )
Reduction in share capital (20 ) - 20 -
Dividends - (175,000 ) - (175,000 )
Balance at 31 October 2024 380 14,253,543 140 14,254,063

Goldex Investments Limited (Registered number: 05593821)

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

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 November 2022 400 15,737,060 120 15,737,580

Changes in equity
Profit for the year - 114,855 - 114,855
Total comprehensive income - 114,855 - 114,855
Dividends - (175,000 ) - (175,000 )
Balance at 31 October 2023 400 15,676,915 120 15,677,435

Changes in equity
Deficit for the year - (60,191 ) - (60,191 )
Total comprehensive loss - (60,191 ) - (60,191 )
Reduction in share capital (20 ) - 20 -
Dividends - (175,000 ) - (175,000 )
Balance at 31 October 2024 380 15,441,724 140 15,442,244

Goldex Investments Limited (Registered number: 05593821)

Consolidated Statement of Cash Flows
for the Year Ended 31 October 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 558,603 (1,337,344 )
Interest paid (22,396 ) (21,383 )
Tax paid 10,024 (186,592 )
Net cash from operating activities 546,231 (1,545,319 )

Cash flows from investing activities
Purchase of tangible fixed assets (1,277,784 ) (760,420 )
Purchase of fixed asset investments (42 ) (22 )
Sale of tangible fixed assets 153,000 158,334
Loans to associates (29,802 ) (63,534 )
Interest received 68,141 63,470
Net cash from investing activities (1,086,487 ) (602,172 )

Cash flows from financing activities
Loan repayments in year (220,248 ) (286,200 )
Hire purchase finance in year 62,282 -
Amount introduced by directors 24,073 433
Equity dividends paid (175,000 ) (175,000 )
Net cash from financing activities (308,893 ) (460,767 )

Decrease in cash and cash equivalents (849,149 ) (2,608,258 )
Cash and cash equivalents at beginning of
year

2

2,120,000

4,728,258

Cash and cash equivalents at end of year 2 1,270,851 2,120,000

Goldex Investments Limited (Registered number: 05593821)

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

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

2024 2023
£    £   
Loss before taxation (201,888 ) (65,781 )
Depreciation charges 765,893 626,017
Profit on disposal of fixed assets (23,336 ) (12,336 )
Finance costs 22,396 21,383
Finance income (68,141 ) (63,470 )
494,924 505,813
Decrease/(increase) in inventories 11,405 (23,716 )
Increase in trade and other debtors (898,360 ) (2,452,339 )
Increase in trade and other creditors 950,634 632,898
Cash generated from operations 558,603 (1,337,344 )

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 1,270,851 2,120,000
Year ended 31 October 2023
31.10.23 1.11.22
£    £   
Cash and cash equivalents 2,120,000 4,728,258


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 2,120,000 (849,149 ) 1,270,851
2,120,000 (849,149 ) 1,270,851
Debt
Finance leases - (62,282 ) (62,282 )
Debts falling due within 1 year (287,276 ) (25,621 ) (312,897 )
Debts falling due after 1 year (440,642 ) 245,869 (194,773 )
(727,918 ) 157,966 (569,952 )
Total 1,392,082 (691,183 ) 700,899

Goldex Investments Limited (Registered number: 05593821)

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

1. STATUTORY INFORMATION

Goldex Investments Ltd 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 (£). 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 Director has prepared financial projections, taking into consideration the current economic conditions
and has, 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.

Basis of consolidation
The Group financial statements consolidate the financial statements of the Company drawn up to 31 October each year. All intra-group transactions, balances, income and expenses are eliminated on consolidation. The results of the subsidiaries acquired or sold are consolidated for the periods from or to the date on which control passed.

Income recognition
Income represents the fair value of consideration received or receivable derived from the provision of goods and services to customers during the year (excluding value added tax) and is recognised when the group becomes entitled to it.

Goodwill
Goodwill arising on the acquisition of subsidiary undertakings and businesses, representing any excess of the fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired, is capitalised and written off on a straight line basis over its useful economic life, which is 5 years. Provision is made for any impairment.

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
Motor vehicles - 25% on reducing balance
Office equipment - 33% on cost and 25% on reducing balance

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Inventories
Stocks 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) method. Provision is made for obsolete or defective stock where appropriate.

Goldex Investments Limited (Registered number: 05593821)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The Group 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.

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

Employee 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. TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Coffee shop sales 12,605,931 13,126,169
Shop refitting 55,681 24,179
Fitness sales 310,712 152,802
12,972,324 13,303,150

Goldex Investments Limited (Registered number: 05593821)

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

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 4,862,743 4,516,713
Social security costs 337,560 284,968
Other pension costs 65,612 60,121
5,265,915 4,861,802

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

Directors 1 1
Administrative staff 22 58
Shop staff 250 238
273 297

2024 2023
£    £   
Director's remuneration 9,056 9,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 13,460 20,790
Bank loan interest 2,962 -
Hire purchase interest 1,183 -
Other interest 4,791 593
22,396 21,383

6. LOSS BEFORE TAXATION

The loss is stated after charging/(crediting):

2024 2023
£    £   
Other operating leases 864,409 920,341
Depreciation - owned assets 765,893 626,019
Profit on disposal of fixed assets (23,336 ) (12,336 )

Goldex Investments Limited (Registered number: 05593821)

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

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

6,000

6,030

8. TAXATION

Analysis of the tax charge
The tax charge on the loss for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 89,223 26,763
Adjustment in respect of
previous periods 1,116 30
Total current tax 90,339 26,793

Deferred tax (17,367 ) 47,848
Tax on loss 72,972 74,641

UK corporation tax has been charged at 25 % (2023 - 22.52 %).

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
£    £   
Loss before tax (201,888 ) (65,781 )
Loss multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 22.518 %)

(50,472

)

(14,813

)

Effects of:
Expenses not deductible for tax purposes 2,092 1,438
Depreciation in excess of capital allowances 116,456 68,307
Utilisation of tax losses (3,534 ) (24,062 )


Increase / (release) of deferred tax provision (17,367 ) 47,848
Loss on disposal of assets (5,833 ) (2,778 )

Provision for tax amendment 1,116 30
Mixed rate of tax charge (145 ) (1,329 )
Overprovision in subsidiary 30,659 -
Total tax charge 72,972 74,641

Deferred tax has been provided on accelerated capital allowances at the substantively enacted rate of 25%. Deferred tax is expected to become chargeable in line with writing down allowances and depreciation charges.

Goldex Investments Limited (Registered number: 05593821)

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

9. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

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


10. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 175,000 175,000

11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 1,917,956
AMORTISATION
At 1 November 2023
and 31 October 2024 1,917,956
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

Company
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 650,000
AMORTISATION
At 1 November 2023
and 31 October 2024 650,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

Goldex Investments Limited (Registered number: 05593821)

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

12. TANGIBLE FIXED ASSETS

Group
Fixtures
Short and Motor Office
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 3,156,811 4,165,065 498,728 19,372 7,839,976
Additions 1,102,531 159,953 15,300 - 1,277,784
Disposals - - (174,425 ) - (174,425 )
At 31 October 2024 4,259,342 4,325,018 339,603 19,372 8,943,335
DEPRECIATION
At 1 November 2023 2,090,781 2,901,421 232,383 14,308 5,238,893
Charge for year 456,206 245,782 59,988 3,917 765,893
Eliminated on disposal - - (44,761 ) - (44,761 )
At 31 October 2024 2,546,987 3,147,203 247,610 18,225 5,960,025
NET BOOK VALUE
At 31 October 2024 1,712,355 1,177,815 91,993 1,147 2,983,310
At 31 October 2023 1,066,030 1,263,644 266,345 5,064 2,601,083

Company
Fixtures
Short and Motor Office
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 1,719,312 2,171,875 498,727 14,358 4,404,272
Additions 1,037,039 31,291 15,300 - 1,083,630
Disposals - - (174,425 ) - (174,425 )
At 31 October 2024 2,756,351 2,203,166 339,602 14,358 5,313,477
DEPRECIATION
At 1 November 2023 947,718 1,221,456 232,383 9,465 2,411,022
Charge for year 300,030 144,830 59,988 3,874 508,722
Eliminated on disposal - - (44,761 ) - (44,761 )
At 31 October 2024 1,247,748 1,366,286 247,610 13,339 2,874,983
NET BOOK VALUE
At 31 October 2024 1,508,603 836,880 91,992 1,019 2,438,494
At 31 October 2023 771,594 950,419 266,344 4,893 1,993,250

Goldex Investments Limited (Registered number: 05593821)

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

13. FIXED ASSET INVESTMENTS

Group
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 November 2023 3 71 74
Additions - 42 42
At 31 October 2024 3 113 116
NET BOOK VALUE
At 31 October 2024 3 113 116
At 31 October 2023 3 71 74
Company
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST OR VALUATION
At 1 November 2023 1,774,624 71 1,774,695
Additions - 42 42
At 31 October 2024 1,774,624 113 1,774,737
NET BOOK VALUE
At 31 October 2024 1,774,624 113 1,774,737
At 31 October 2023 1,774,624 71 1,774,695

Cost or valuation at 31 October 2024 is represented by:

Shares in Interest
group in
undertakings associate Totals
£    £    £   
Valuation in 2024 1,774,624 113 1,774,737

Goldex Investments Limited (Registered number: 05593821)

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

13. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Goldex Investments (Sussex) Limited
Registered office: Warwick House, Park Corner Road, Southfleet, Gravesend, Kent, England, DA13 9LN
Nature of business: Managing coffee shops
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 631,127 831,358
Profit/(loss) for the year 9,619 (14,877 )

Goldex Chatham Dockside Ltd
Registered office: Warwick House, Park Corner Road, Southfleet, Gravesend, Kent, England, DA13 9LN
Nature of business: Managing coffee shops
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 174,271 82,600
Profit for the year 91,671 73,955

Goldex Fitness Limited
Registered office: Warwick House, Park Corner Road, Southfleet, Gravesend, Kent, England, DA13 9LN
Nature of business: Operating gyms and fitness centres
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (321,028 ) (215,071 )
Loss for the year (105,959 ) (104,355 )

Associated companies

Workspace by Goldex Limited
Registered office: Warwick House, Park Corner Road, Southfleet, Gravesend, Kent, England, DA13 9LN
Nature of business: Provision of office space to individuals.
%
Class of shares: holding
Ordinary 33.00
2024 2023
£    £   
Aggregate capital and reserves (65,572 ) (2,351 )
Loss for the year (60,870 ) (1,993 )

Goldex Investments Limited (Registered number: 05593821)

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

13. FIXED ASSET INVESTMENTS - continued

D2S Group Ltd
Registered office: Warwick House, Park Corner Road, Southfleet, Gravesend, Kent, England, DA13 9LN
Nature of business: Dormant company.
%
Class of shares: holding
Ordinary 56.00
2024 2023
£    £   
Aggregate capital and reserves 70 70


The fixed asset investments of the Company relate to wholly owned subsidiary companies, that are included within these consolidated Group statements, and associate companies as detailed above. The Group has no other fixed or current asset investments.

14. INVENTORIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Inventories 95,895 107,300 61,971 66,305

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 104,244 36,905 91,086 56,200
Amounts owed by associates 943,977 914,175 1,023,199 947,153
Other debtors 14,567,697 13,732,000 14,397,985 13,712,705
Directors' current accounts 2,517,010 2,541,083 2,517,010 2,541,083
Tax 857,808 825,960 857,808 825,960
Prepayments and accrued income 153,132 157,808 111,278 107,396
19,143,868 18,207,931 18,998,366 18,190,497

Goldex Investments Limited (Registered number: 05593821)

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

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 18) 312,897 287,276 293,538 287,276
Hire purchase contracts (see note 19) 11,308 - - -
Trade creditors 1,013,572 752,708 809,005 681,124
Amounts owed to group undertakings - - 342,621 309,239
Corporation tax 64,214 (29,927 ) - 19,789
S.455 tax liability 329,300 291,230 329,300 291,230
Social security and other taxes 108,567 83,442 73,508 51,548
VAT 356,692 456,320 238,403 325,166
Other creditors 6,465,531 5,648,637 6,462,298 5,645,867
Accruals 137,360 189,981 61,437 68,692
8,799,441 7,679,667 8,610,110 7,679,931

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

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 18) 194,773 440,642 140,849 440,642
Hire purchase contracts (see note 19) 50,974 - - -
245,747 440,642 140,849 440,642

18. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 312,897 287,276 293,538 287,276
Amounts falling due between one and two years:
Bank loans 158,629 287,276 139,271 287,276
Amounts falling due between two and five years:
Bank loans 36,144 153,366 1,578 153,366

Goldex Investments Limited (Registered number: 05593821)

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

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 11,308 -
Between one and five years 50,974 -
62,282 -

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 449,212 492,127
Between one and five years 1,228,889 972,997
In more than five years 1,179,794 968,044
2,857,895 2,433,168

Company
Non-cancellable operating leases
2024 2023
£    £   
Within one year 345,005 330,338
Between one and five years 942,890 701,520
In more than five years 542,559 306,767
1,830,454 1,338,625

20. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans 507,670 727,918 434,387 727,918

HSBC Bank PLC hold fixed and floating charges, and a composite guarantee over the group's assets.

Goldex Investments Limited (Registered number: 05593821)

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

21. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax 194,789 212,156 134,438 151,677

Group
Deferred
tax
£   
Balance at 1 November 2023 212,156
Credit to Statement of Comprehensive Income during year (17,367 )
Balance at 31 October 2024 194,789

Company
Deferred
tax
£   
Balance at 1 November 2023 151,677
Credit to Statement of Comprehensive Income during year (17,239 )
Balance at 31 October 2024 134,438

Deferred tax assets and liabilities are offset only where the Group has a legally enforceable right to do so and where the assets and liabilities relate to income taxes levied by the same taxation authority on the same taxable entity or another entity within the Group.

There is no expiry date on timing difference, unused tax losses or tax credits.

22. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
380 Ordinary A £1 380 380
NIL Ordinary C £1 - 20
380 400

23. CONTINGENT LIABILITIES

Goldex Investments Ltd is part of a group VAT registration with its subsidiary undertaking, Goldex Investments (Kent) Limited with Goldex Investments (Kent) South Limited, Goldex Chatham Dockside Ltd and Goldex Fitness Limited. 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 total group VAT creditor amounted to £542007 Of this liability £356,692 is included within creditors in the the Consolidated Balance Sheet of Goldex Investments Ltd.

Goldex Investments Limited (Registered number: 05593821)

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

24. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
D S Brar
Balance outstanding at start of year 2,541,085 2,541,516
Amounts advanced 75,448 78,569
Amounts repaid (99,523 ) (79,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,517,010 2,541,085

25. RELATED PARTY DISCLOSURES

Entities over which the entity has control, joint control or significant influence
2024 2023
£    £   
Management charge income 362,000 324,000
Amount due to related parties 5,895,079 5,868,554

Goldex Investments Limited manages the trade of Goldex Investments (Kent) Limited, a company owned by the director, D Brar.

Key management personnel of the entity or its parent (in the aggregate)
2024 2023
£    £   
Shop refitting sales 54,255 24,179
Rent paid 148,500 141,000
Management charges 15,565 7,710
Costs paid on behalf of related party 15,126 58,187
Amount due from related party 15,419,493 13,879,293
Guarantees from related party on behalf of the company 250,000 250,000

26. ULTIMATE CONTROLLING PARTY

The controlling party is D S Brar.

Goldex Investments Limited (Registered number: 05593821)

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

27. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

Group
2024 2023
£    £   
Loss for the financial year (274,860 ) (140,422 )
Dividends (175,000 ) (175,000 )
Purchase of own shares
Net reduction of shareholders' funds (449,860 ) (315,422 )
Opening shareholders' funds 14,703,923 15,019,345
Closing shareholders' funds 14,254,063 14,703,923


Company
2024 2023
£    £   
(Loss)/profit for the financial year (60,191 ) 114,855
Dividends (175,000 ) (175,000 )
Purchase of own shares
Reduction in share capital
Net reduction of shareholders' funds (235,191 ) (60,145 )
Opening shareholders' funds 15,677,435 15,737,580
Closing shareholders' funds 15,442,244 15,677,435

28. GUARANTEE IN RELATION TO SUBSIDIARY AUDIT EXEMPTION

The parent company has provided guarantees covering all the outstanding liabilities of its trading subsidiary companies as at the balance sheet date, in accordance with section 479C of the Companies Act 2006. As a result, the following subsidiary entities of the company are exempt from the requirements of the Companies Act 2006 relating to the audit of accounts under section 479A of the Companies Act 2006:

Goldex Investments (Sussex) Ltd (07851583)
Goldex Chatham Dockside Ltd (13231034)
Goldex Fitness Limited (13692548)