Company registration number 00794160 (England and Wales)
GOODENOUGH (ST AUSTELL) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
GOODENOUGH (ST AUSTELL) LIMITED
COMPANY INFORMATION
Directors
Mr J R Goodenough
Mr M D Goodenough
Company number
00794160
GOODENOUGH (ST AUSTELL) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
GOODENOUGH (ST AUSTELL) LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
19,157
34,324
Tangible assets
5
237,571
1,726,739
256,728
1,761,063
Current assets
Stocks
759,111
757,349
Debtors
6
541,704
81,226
Cash at bank and in hand
392,991
588,656
1,693,806
1,427,231
Creditors: amounts falling due within one year
7
(975,247)
(779,433)
Net current assets
718,559
647,798
Total assets less current liabilities
975,287
2,408,861
Creditors: amounts falling due after more than one year
8
(32,312)
(784,390)
Provisions for liabilities
(48,252)
(72,521)
Net assets
894,723
1,551,950
Capital and reserves
Called up share capital
1,150
1,150
Capital redemption reserve
850
850
Profit and loss reserves
892,723
1,549,950
Total equity
894,723
1,551,950
GOODENOUGH (ST AUSTELL) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2025
31 January 2025
- 2 -

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of 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 14 August 2025 and are signed on its behalf by:
Mr M D Goodenough
Director
Company registration number 00794160 (England and Wales)
GOODENOUGH (ST AUSTELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
1
Accounting policies
Company information

Goodenough (St Austell) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19/20 King Street, Truro, Cornwall, TR1 2RQ.

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.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
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 5 years.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Other intangible assets
5 years on the straight line method
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.

GOODENOUGH (ST AUSTELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -

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:

Land and buildings Freehold
2% per annum on the straight line method
Land and buildings Leasehold
10 years on the straight line method
Fixtures, fittings and equipment
15% per annum on the reducing balance method
Computer equipment
33.3% per annum on the straight line method
Motor vehicles
25% per annum on the reducing balance method and 25% per annum on the straight line method

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.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price. Cost is determined as retail value excluding VAT, less the appropriate margin on goods sold in the year.

1.8
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.9
Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.

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.

GOODENOUGH (ST AUSTELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -
1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
94
106
3
Taxation
2025
2024
£
£
Current tax
Adjustments in respect of prior periods
-
0
(656)
Deferred tax
Origination and reversal of timing differences
(24,269)
39,435
Total tax (credit)/charge
(24,269)
38,779
GOODENOUGH (ST AUSTELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
4
Intangible fixed assets
Goodwill
Other intangible assets
Total
£
£
£
Cost
At 1 February 2024 and 31 January 2025
148,550
58,492
207,042
Amortisation and impairment
At 1 February 2024
128,550
44,168
172,718
Amortisation charged for the year
9,999
5,168
15,167
At 31 January 2025
138,549
49,336
187,885
Carrying amount
At 31 January 2025
10,001
9,156
19,157
At 31 January 2024
20,000
14,324
34,324
5
Tangible fixed assets
Land and buildings Freehold
Land and buildings Leasehold
Fixtures, fittings and equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 February 2024
1,585,939
-
0
535,493
12,210
59,317
2,192,959
Additions
-
0
8,978
1,100
3,906
43,218
57,202
Disposals
(1,585,939)
-
0
(80,726)
-
0
(42,435)
(1,709,100)
At 31 January 2025
-
0
8,978
455,867
16,116
60,100
541,061
Depreciation and impairment
At 1 February 2024
143,995
-
0
302,107
7,827
12,291
466,220
Depreciation charged in the year
23,789
224
34,409
3,447
12,483
74,352
Eliminated in respect of disposals
(167,784)
-
0
(57,824)
-
0
(11,474)
(237,082)
At 31 January 2025
-
0
224
278,692
11,274
13,300
303,490
Carrying amount
At 31 January 2025
-
0
8,754
177,175
4,842
46,800
237,571
At 31 January 2024
1,441,944
-
0
233,386
4,383
47,026
1,726,739

A motor vehicle with a carrying value of £38,715 (2024: £Nil) is held under a hire purchase contract.

GOODENOUGH (ST AUSTELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -
6
Debtors: amounts falling due within one year
2025
2024
Amounts owed by group undertakings
451,946
-
0
Other debtors
89,758
81,226
541,704
81,226
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loan (secured)
-
0
80,858
CBIL loan
20,000
20,000
Trade creditors
626,962
566,818
Taxation and social security
245,770
37,659
Other creditors
82,515
74,098
975,247
779,433
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loan (secured)
-
0
757,723
Other creditors
32,312
26,667
32,312
784,390

Hire purchase agreement is secured against the asset to which it relates. The outstanding amount at 31 January 2025 was £25,645 (2024: £Nil). See note 5.

Creditors which fall due after five years are as follows:
2025
2024
£
£
Payable by instalments
-
404,432
GOODENOUGH (ST AUSTELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 8 -
9
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
1,543,820
486,190
10
Parent company

Following a share for share exchange, with effect from 21 March 2024 the ultimate parent company was Goodenough (St Austell) Holdings Ltd which holds 100% of the issued share capital of Goodenough (St Austell) Limited.

 

The registered office of the parent company is 9 Tregarne Terrace, St Austell, Cornwall, United Kingdom, PL25 4DD and the principal place of business is 19/20 King Street, Truro, Cornwall, TR1 2RQ.

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