| GROUP STRATEGIC REPORT, |
| REPORT OF THE DIRECTORS AND |
| CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| GOODMAN (HOLDINGS) LIMITED |
| GROUP STRATEGIC REPORT, |
| REPORT OF THE DIRECTORS AND |
| CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| GOODMAN (HOLDINGS) LIMITED |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
| for the year ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Group Strategic Report | 2 |
| Report of the Directors | 4 |
| Report of the Independent Auditors | 5 |
| Consolidated Income Statement | 8 |
| Consolidated Other Comprehensive Income | 9 |
| Consolidated Balance Sheet | 10 |
| Company Balance Sheet | 11 |
| Consolidated Statement of Changes in Equity | 12 |
| Company Statement of Changes in Equity | 13 |
| Consolidated Cash Flow Statement | 14 |
| Notes to the Consolidated Cash Flow Statement | 15 |
| Notes to the Consolidated Financial Statements | 16 |
| GOODMAN (HOLDINGS) LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 March 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| 70-72 Nottingham Road |
| Mansfield |
| Nottinghamshire |
| NG18 1BN |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| GROUP STRATEGIC REPORT |
| for the year ended 31 March 2025 |
| The directors present their strategic report of the company and the group for the year ended 31 March 2025. |
| REVIEW OF BUSINESS |
| The company has had a successful year with improved trading results which have again strengthened the company balance sheet with an increase in shareholders' funds and net current assets. |
| The company has had a successful year with strong trading results which have strengthened the company balance sheet with an increase in shareholders' funds and net current assets. |
| The company has continues to focus on improving and enhancing both operating and engineering effectiveness and capabilities. The company has made significant investment in new updated modern plant and machinery, and it is considered that this has, and continues to, contribute to the string trading results. |
| KPI Results | 2025 | 2024 |
| Gross profit | £2,783k | £2,748k |
| GP % | 30% | 28% |
| Net Profit | £646k | £845k |
| Shareholders' funds | £3,237k | £2,723k |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| GROUP STRATEGIC REPORT |
| for the year ended 31 March 2025 |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| Business risk |
| Risk is associated with both external business environment and the business itself |
| As an integral part of the company's business planning it undertakes a constant review and assessment of all business risks. |
| A business risk is "the threat that an event or action will adversely affect the business's ability to achieve its ongoing objectives". |
| The company's capability of offering a complete range of engineering services has enabled the development of a diverse range of products supplied across diverse market sectors. The company actively tries to maintain this balance over its widespread customer base |
| The company is ISO 9001 accredited, and is regularly audited to ensure compliance. |
| Cash flow management |
| Ongoing monitoring of funds position and ensuring sufficient fund facility is in place - Invoice discounting facility secured on company debtor book currently gives flexibility to accommodate this. |
| Along with this the company continuously reviews it's jobs order book to look for peaks and troughs in its cashflow needs. |
| Financial risk |
| Effective management and monitoring of customer account and debt levels and avoiding any concentration of risk . Currently considered to have a good balance supply engineering to customers across a range of sectors and markets |
| Responding to changing conditions and circumstances both from a trading and engineering perspective - The company manages this through involved and informed management, together with an integrated real time management information reporting system to regularly produce financial and operating information on which management at all levels can act. This is further enhanced through regular and systematised review of trading performance together with stock, debtors, cash and creditor levels |
| Sustainability risk |
| The company is aware of its responsibility to conduct operations in a sustainable manner. Goodman Metalworks Limited works actively with its customers to ensure working practices have a minimal impact on the environment. |
| Employees are supported by the company fostering a positive working environment through the promoting a work life balance and offering resources and support to staff. |
| The company takes corruption and bribery seriously, with a number of measures built into working practices to mitigate risks, including segregation of duties and financial controls. |
| Climate related risks |
| The company is very aware of climate issues and the wider objectives of net- zero carbon emissions. It actively looks to limit emissions and has recently installed solar panels and carried out various energy efficient upgrades to the premises .It also continues to invest in modern energy efficient machinery. Along with this the company is pursuing accreditation under ISO 14001 International standard for Environmental Management Systems standard. |
| Engagement with customers and suppliers |
| The company carries out a thorough assessment of new customers and uses credit rating services software for vetting before engaging with customers. Due to the nature of work being project based, staff are in constant contact with customers and suppliers throughout the length of the project and are able to fluidly adjust to changes that arise in large construction projects of this nature. It is considered that good customer service and satisfaction levels are extremely important to the company's ongoing success and that effective communication with the client as well as suppliers is essential to achieve this. |
| ON BEHALF OF THE BOARD: |
| 22 August 2025 |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| REPORT OF THE DIRECTORS |
| for the year ended 31 March 2025 |
| The directors present their report with the financial statements of the company and the group for the year ended 31 March 2025. |
| DIVIDENDS |
| No dividends will be distributed for the year ended 31 March 2025. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are 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 directors are 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 directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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 directors are 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 each director 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. |
| AUDITORS |
| The auditors, Hewitt Card Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| GOODMAN (HOLDINGS) LIMITED |
| Opinion |
| We have audited the financial statements of Goodman (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 March 2025 and of the group's 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 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 directors' 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 directors with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, 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 Group Strategic Report and the Report of the Directors 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 Directors have been prepared in accordance with applicable legal requirements. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| GOODMAN (HOLDINGS) LIMITED |
| 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 Directors. |
| 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 directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so. |
| 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: |
| We have adopted a risk based approach based upon analytical procedures and knowledge of the clients systems and environment it operates in. |
| This enables us to design and perform audit procedures responsive to those risks; and obtain audit evidence that is sufficient and appropriate to provide a basis for the audit opinion. |
| To obtain an understanding of internal control where relevant to the audit to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the companys internal control. |
| To evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. |
| To conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern. |
| The likelihood of detecting irregularities is inherently difficult and we have designed our tests and procedures to reduce this risk. |
| - We have enquired of management and the company's solicitors around actual and potential litigation and claims. - Review of company minutes of meetings of those charged with governance. |
| - Reviewing financial statements disclosure and testing supporting documentation to assess compliance with applicable laws and regulations |
| - Review and testing of management override of controls, including through testing journal entries and other adjustments for appropriateness and evaluating the business rationale of significant 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 |
| GOODMAN (HOLDINGS) 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. |
| for and on behalf of |
| Statutory Auditors |
| 70-72 Nottingham Road |
| Mansfield |
| Nottinghamshire |
| NG18 1BN |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| CONSOLIDATED |
| INCOME STATEMENT |
| for the year ended 31 March 2025 |
| 31.3.25 | 31.3.24 |
| Notes | £ | £ |
| TURNOVER | 9,302,840 | 9,833,385 |
| Cost of sales | 6,519,440 | 7,085,107 |
| GROSS PROFIT | 2,783,400 | 2,748,278 |
| Administrative expenses | 2,149,635 | 1,999,049 |
| 633,765 | 749,229 |
| Other operating income | 69,345 | 87,560 |
| OPERATING PROFIT | 4 | 703,110 | 836,789 |
| Interest payable and similar expenses | 5 | 57,302 | 63,410 |
| PROFIT BEFORE TAXATION | 645,808 | 773,379 |
| Tax on profit | 6 | 132,310 | 9,818 |
| PROFIT FOR THE FINANCIAL YEAR |
| Profit attributable to: |
| Owners of the parent | 513,498 | 763,561 |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| CONSOLIDATED |
| OTHER COMPREHENSIVE INCOME |
| for the year ended 31 March 2025 |
| 31.3.25 | 31.3.24 |
| Notes | £ | £ |
| PROFIT FOR THE YEAR | 513,498 | 763,561 |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
513,498 |
763,561 |
| Total comprehensive income attributable to: |
| Owners of the parent | 513,498 | 763,561 |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| CONSOLIDATED BALANCE SHEET |
| 31 March 2025 |
| 31.3.25 | 31.3.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 8 | 3,184,631 | 3,001,249 |
| Investments | 9 | - | - |
| 3,184,631 | 3,001,249 |
| CURRENT ASSETS |
| Stocks | 10 | 467,370 | 604,787 |
| Debtors | 11 | 2,139,840 | 1,909,220 |
| Cash at bank and in hand | 569,944 | 751,370 |
| 3,177,154 | 3,265,377 |
| CREDITORS |
| Amounts falling due within one year | 12 | 2,059,930 | 2,175,730 |
| NET CURRENT ASSETS | 1,117,224 | 1,089,647 |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 4,301,855 | 4,090,896 |
| CREDITORS |
| Amounts falling due after more than one year | 13 | (243,740 | ) | (795,945 | ) |
| PROVISIONS FOR LIABILITIES | 16 | (430,678 | ) | (181,012 | ) |
| NET ASSETS | 3,627,437 | 3,113,939 |
| CAPITAL AND RESERVES |
| Called up share capital | 17 | 10,000 | 10,000 |
| Retained earnings | 18 | 3,617,437 | 3,103,939 |
| SHAREHOLDERS' FUNDS | 3,627,437 | 3,113,939 |
| The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2025 and were signed on its behalf by: |
| Mr R T Goodman - Director |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| COMPANY BALANCE SHEET |
| 31 March 2025 |
| 31.3.25 | 31.3.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 8 |
| Investments | 9 |
| CURRENT ASSETS |
| Debtors | 11 |
| Cash in hand |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 17 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| Company's loss for the financial year | - | (42,083 | ) |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
| for the year ended 31 March 2025 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 April 2023 | 10,000 | 2,340,378 | 2,350,378 |
| Changes in equity |
| Total comprehensive income | - | 763,561 | 763,561 |
| Balance at 31 March 2024 | 10,000 | 3,103,939 | 3,113,939 |
| Changes in equity |
| Total comprehensive income | - | 513,498 | 513,498 |
| Balance at 31 March 2025 | 10,000 | 3,617,437 | 3,627,437 |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| COMPANY STATEMENT OF CHANGES IN EQUITY |
| for the year ended 31 March 2025 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 April 2023 |
| Changes in equity |
| Total comprehensive income | - | ( |
) | ( |
) |
| Balance at 31 March 2024 |
| Changes in equity |
| Balance at 31 March 2025 |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| CONSOLIDATED CASH FLOW STATEMENT |
| for the year ended 31 March 2025 |
| 31.3.25 | 31.3.24 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | 1,104,353 | 2,245,955 |
| Interest paid | (37,642 | ) | (51,667 | ) |
| Interest element of hire purchase payments paid |
(19,660 |
) |
(11,743 |
) |
| Tax paid | - | 104,338 |
| Net cash from operating activities | 1,047,051 | 2,286,883 |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | (648,610 | ) | (1,347,390 | ) |
| Sale of tangible fixed assets | 5,000 | 147,568 |
| Grants received | 32,736 | - |
| Net cash from investing activities | (610,874 | ) | (1,199,822 | ) |
| Cash flows from financing activities |
| New loans in year | - | 54,000 |
| Loan repayments in year | (513,536 | ) | (253,119 | ) |
| Capital repayments in year | (104,067 | ) | 354,045 |
| Net cash from financing activities | (617,603 | ) | 154,926 |
| (Decrease)/increase in cash and cash equivalents | (181,426 | ) | 1,241,987 |
| Cash and cash equivalents at beginning of year |
2 |
751,370 |
(490,617 |
) |
| Cash and cash equivalents at end of year | 2 | 569,944 | 751,370 |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
| for the year ended 31 March 2025 |
| 1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Profit before taxation | 645,808 | 773,379 |
| Depreciation charges | 426,893 | 423,377 |
| Loss/(profit) on disposal of fixed assets | 600 | (72,501 | ) |
| Finance costs | 57,302 | 63,410 |
| 1,130,603 | 1,187,665 |
| Decrease/(increase) in stocks | 137,417 | (4,258 | ) |
| (Increase)/decrease in trade and other debtors | (113,265 | ) | 716,738 |
| (Decrease)/increase in trade and other creditors | (50,402 | ) | 345,810 |
| Cash generated from operations | 1,104,353 | 2,245,955 |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 31 March 2025 |
| 31.3.25 | 1.4.24 |
| £ | £ |
| Cash and cash equivalents | 569,944 | 751,370 |
| Year ended 31 March 2024 |
| 31.3.24 | 1.4.23 |
| £ | £ |
| Cash and cash equivalents | 751,370 | 49,408 |
| Bank overdrafts | - | (540,025 | ) |
| 751,370 | (490,617 | ) |
| 3. | ANALYSIS OF CHANGES IN NET DEBT |
| At 1.4.24 | Cash flow | At 31.3.25 |
| £ | £ | £ |
| Net cash |
| Cash at bank and in hand | 751,370 | (181,426 | ) | 569,944 |
| 751,370 | (181,426 | ) | 569,944 |
| Debt |
| Finance leases | (396,278 | ) | 104,067 | (292,211 | ) |
| Debts falling due within 1 year | (87,231 | ) | 87,231 | - |
| Debts falling due after 1 year | (426,305 | ) | 426,305 | - |
| (909,814 | ) | 617,603 | (292,211 | ) |
| Total | (158,444 | ) | 436,177 | 277,733 |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
| for the year ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Goodman (Holdings) Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Long leasehold | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| 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 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. | EMPLOYEES AND DIRECTORS |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Wages and salaries | 3,130,913 | 2,940,178 |
| Social security costs | 307,517 | 291,045 |
| Other pension costs | 172,086 | 284,262 |
| 3,610,516 | 3,515,485 |
| The average number of employees during the year was as follows: |
| 31.3.25 | 31.3.24 |
| The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2024 - NIL). |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Directors' remuneration | 172,005 | 100,208 |
| 4. | OPERATING PROFIT |
| The operating profit is stated after charging/(crediting): |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Hire of plant and machinery | 7,261 | 5,436 |
| Depreciation - owned assets | 337,896 | 377,078 |
| Depreciation - assets on hire purchase contracts | 121,732 | 98,991 |
| Loss/(profit) on disposal of fixed assets | 600 | (72,501 | ) |
| Auditors' remuneration | 7,000 | 6,500 |
| 5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Bank loan interest | - | 10,178 |
| Loan | 37,642 | 41,489 |
| Hire purchase | 19,660 | 11,743 |
| 57,302 | 63,410 |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2025 |
| 6. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Current tax: |
| UK corporation tax | (117,356 | ) | - |
| Adjustments for prior year | - | 494 |
| Total current tax | (117,356 | ) | 494 |
| Deferred tax | 249,666 | 9,324 |
| Tax on profit | 132,310 | 9,818 |
| 7. | INDIVIDUAL INCOME STATEMENT |
| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
| 8. | TANGIBLE FIXED ASSETS |
| Group |
| Improvements |
| Freehold | Long | to | Plant and |
| property | leasehold | property | machinery |
| £ | £ | £ | £ |
| COST |
| At 1 April 2024 | 1,450,966 | 161,365 | 299,478 | 3,803,797 |
| Additions | - | - | 285,683 | 321,171 |
| Disposals | - | - | - | (7,000 | ) |
| At 31 March 2025 | 1,450,966 | 161,365 | 585,161 | 4,117,968 |
| DEPRECIATION |
| At 1 April 2024 | 461,960 | 87,758 | 299,478 | 2,213,697 |
| Charge for year | 19,346 | 11,498 | 3,721 | 314,321 |
| Eliminated on disposal | - | - | - | (1,400 | ) |
| At 31 March 2025 | 481,306 | 99,256 | 303,199 | 2,526,618 |
| NET BOOK VALUE |
| At 31 March 2025 | 969,660 | 62,109 | 281,962 | 1,591,350 |
| At 31 March 2024 | 989,006 | 73,607 | - | 1,590,100 |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2025 |
| 8. | TANGIBLE FIXED ASSETS - continued |
| Group |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2024 | 309,709 | 167,977 | 166,226 | 6,359,518 |
| Additions | 3,017 | - | 38,739 | 648,610 |
| Disposals | - | - | - | (7,000 | ) |
| At 31 March 2025 | 312,726 | 167,977 | 204,965 | 7,001,128 |
| DEPRECIATION |
| At 1 April 2024 | 104,236 | 102,667 | 88,473 | 3,358,269 |
| Charge for year | 38,850 | 27,099 | 44,793 | 459,628 |
| Eliminated on disposal | - | - | - | (1,400 | ) |
| At 31 March 2025 | 143,086 | 129,766 | 133,266 | 3,816,497 |
| NET BOOK VALUE |
| At 31 March 2025 | 169,640 | 38,211 | 71,699 | 3,184,631 |
| At 31 March 2024 | 205,473 | 65,310 | 77,753 | 3,001,249 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2024 |
| and 31 March 2025 | 881,505 | 63,209 | 944,714 |
| DEPRECIATION |
| At 1 April 2024 | 83,188 | 21,070 | 104,258 |
| Charge for year | 105,930 | 15,802 | 121,732 |
| At 31 March 2025 | 189,118 | 36,872 | 225,990 |
| NET BOOK VALUE |
| At 31 March 2025 | 692,387 | 26,337 | 718,724 |
| At 31 March 2024 | 798,317 | 42,139 | 840,456 |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2025 |
| 9. | FIXED ASSET INVESTMENTS |
| Company |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2024 |
| and 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 10. | STOCKS |
| Group |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Stocks | 94,538 | 83,079 |
| Work-in-progress | 372,832 | 521,708 |
| 467,370 | 604,787 |
| 11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 31.3.25 | 31.3.24 | 31.3.25 | 31.3.24 |
| £ | £ | £ | £ |
| Trade debtors | 1,835,878 | 1,682,646 |
| Amounts owed by group undertakings | - | 1 |
| Other debtors | 27,811 | 600 |
| Tax | 117,356 | - |
| Prepayments | 158,795 | 225,973 |
| 2,139,840 | 1,909,220 |
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Bank loans and overdrafts (see note 14) | - | 87,231 |
| Hire purchase contracts (see note 15) | 104,067 | 104,067 |
| Payments on account | 164,230 | 65,697 |
| Trade creditors | 1,415,656 | 1,514,403 |
| Amounts owed to group undertakings | 2 | - |
| Social security and other taxes | 77,150 | 74,046 |
| VAT | 108,170 | 152,939 |
| Other creditors | 58,605 | 44,368 |
| Deferred capital grant | 21,834 | 32,737 |
| Accrued expenses | 110,216 | 100,242 |
| 2,059,930 | 2,175,730 |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2025 |
| 13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| Group |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Bank loans (see note 14) | - | 426,305 |
| Hire purchase contracts (see note 15) | 188,144 | 292,211 |
| Deferred capital grant | 55,596 | 77,429 |
| 243,740 | 795,945 |
| 14. | LOANS |
| An analysis of the maturity of loans is given below: |
| Group |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Amounts falling due within one year or on | demand: |
| Bank loans | - | 87,231 |
| Amounts falling due between one and two | years: |
| Bank loans - 1-2 years | - | 94,362 |
| Amounts falling due between two and five | years: |
| Bank loans - 2-5 years | - | 331,943 |
| 15. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Group |
| Hire purchase |
| contracts |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Gross obligations repayable: |
| Within one year | 123,650 | 123,650 |
| Between one and five years | 215,704 | 339,354 |
| 339,354 | 463,004 |
| Finance charges repayable: |
| Within one year | 19,583 | 19,583 |
| Between one and five years | 27,560 | 47,143 |
| 47,143 | 66,726 |
| Net obligations repayable: |
| Within one year | 104,067 | 104,067 |
| Between one and five years | 188,144 | 292,211 |
| 292,211 | 396,278 |
| GOODMAN (HOLDINGS) LIMITED (REGISTERED NUMBER: 05064443) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2025 |
| 16. | PROVISIONS FOR LIABILITIES |
| Group |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Deferred tax | 430,678 | 181,012 |
| Group |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 | 181,012 |
| Charge to Income Statement during year | 249,666 |
| Balance at 31 March 2025 | 430,678 |
| 17. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.25 | 31.3.24 |
| value: | £ | £ |
| Ordinary | 0.01 | 10,000 | 10,000 |
| 18. | RESERVES |
| Group |
| Retained |
| earnings |
| £ |
| At 1 April 2024 | 3,103,939 |
| Profit for the year | 513,498 |
| At 31 March 2025 | 3,617,437 |
| 19. | RELATED PARTY DISCLOSURES |
| Entities with control, joint control or significant influence over the entity |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Sales | (20,000 | ) | 190,000 |
| Purchases | 18,200 | - |
| Rent | 81,000 | 81,000 |
| Amount due from related party | - | 128,000 |
| Amount due to related party | 1,326 | - |
| 20. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is D J Goodman. |