REGISTERED NUMBER: 09355638 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Goodwill Solutions Property Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

Mr D R Pickard

Mr G L Tomkins

REGISTERED OFFICE:

1056 Deer Park Road

Moulton Park

Northampton

Northamptonshire

NN3 6RX

REGISTERED NUMBER:

09355638 (England and Wales)

ACCOUNTANTS:

Clifford Roberts

Chartered Accountants

Pacioli House

9 Brookfield

Duncan Close

Northampton

Northamptonshire

NN3 6WL

FIXED ASSETS

Tangible assets

4

2,881,929

3,002,166

CURRENT ASSETS

Debtors

5

641,072

387,228

Cash at bank

970,258

573,078

1,611,330

960,306

CREDITORS

Amounts falling due within one year

6

273,169

276,139

NET CURRENT ASSETS

1,338,161

684,167

TOTAL ASSETS LESS CURRENT LIABILITIES

4,220,090

3,686,333

CREDITORS

Amounts falling due after more than one year

7

(1,430,695

)

(1,541,510

)

PROVISIONS FOR LIABILITIES

(82,444

)

(101,337

)

NET ASSETS

2,706,951

2,043,486

CAPITAL AND RESERVES

Called up share capital

10

100

100

Fair value reserve

11

179,752

184,136

Retained earnings

11

2,527,099

1,859,250

SHAREHOLDERS' FUNDS

2,706,951

2,043,486

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2025 and were signed on its behalf by:

Mr D R Pickard - Director

Mr G L Tomkins - Director

1.	STATUTORY INFORMATION

Goodwill Solutions Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102 section 1A") and with the Companies Act 2006 including the Triennial review 2017 amendments. The financial statements have been prepared on the historical cost basis modified to include the deemed cost of freehold land.

The financial statements are presented in Sterling (£) and cover the period to 31st December each year.

Going Concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future particularly in light of the continued support from fellow group members. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is comprised of rental income charged to a fellow subsidiary and a third party relating to the use of the freehold property held by the company, in addition to insurance and asset rental recharges to a fellow subsidiary.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Improvements to property

-

10% on cost

Plant and machinery

-

33% on cost and 17% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost and 20% on cost

Freehold Property

The property is held at deemed cost and depreciated over it's useful life of 50 years. Deferred tax has been calculated and offset against the fair value reserve. This is then unwound each year over the same useful life as the property. Although the property is let out, it is not treated as an investment property as the amount rented to third parties is considered to be immaterial. The remainder of the property is let to fellow group companies.

Taxation

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

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Interest bearing borrowings

Interest bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the statement of comprehensive income over the period of the borrowings, together with any interest and fees payable, using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 January 2024

2,975,000

207,161

130,392

Additions

-

-

2,395

At 31 December 2024

2,975,000

207,161

132,787

DEPRECIATION

At 1 January 2024

337,599

30,118

93,759

Charge for year

42,200

20,716

14,178

At 31 December 2024

379,799

50,834

107,937

NET BOOK VALUE

At 31 December 2024

2,595,201

156,327

24,850

At 31 December 2023

2,637,401

177,043

36,633

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

212,894

10,600

122,760

3,658,807

Additions

-

-

5,687

8,082

At 31 December 2024

212,894

10,600

128,447

3,666,889

DEPRECIATION

At 1 January 2024

132,900

10,600

51,665

656,641

Charge for year

22,516

-

28,709

128,319

At 31 December 2024

155,416

10,600

80,374

784,960

NET BOOK VALUE

At 31 December 2024

57,478

-

48,073

2,881,929

At 31 December 2023

79,994

-

71,095

3,002,166

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

15,300

2,400

Amounts owed by group undertakings

614,467

378,531

Other debtors

11,305

6,297

641,072

387,228

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

107,503

107,503

Trade creditors

2,561

15,882

Amounts owed to group undertakings

877

260

Taxation and social security

121,448

135,994

Other creditors

40,780

16,500

273,169

276,139

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

1,430,695

1,541,510

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,108,185

1,111,497

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

1,538,198

1,649,013

Barclays Bank plc hold two charges, one a fixed and floating charge over all property held by the company, and another as a fixed charge over freehold property.

9.	FINANCIAL RISK MANAGEMENT

The company does not have significant exposure to credit, liquidity and interest rate risks. These risks are limited by the company's financial management policies and practices described below:

Credit risk

Goodwill Solutions Property Limited rents the majority of the property to another group company. As such the company has limited exposure to credit risk outside of the group. Where rental income is generated from customers outside of the group their credit worthiness is continually monitored so that any potential problems are detected at an early stage.

Liquidity risk

The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves, banking facilities and borrowing facilities. Active management of the cash position is undertaken with future cash flows being reviewed to ensure that resources are available.

Interest rate risk

Interest rates are fixed and so risk associated with movement in the base rate is all but eliminated.

The company holds no derivative financial instruments at the year end.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2024

1,859,250

184,136

2,043,386

Profit for the year

663,465

-

663,465

Revaluation adjustment

5,845

(5,845

)

-

Deferred tax adjustment

(1,461

)

1,461

-

At 31 December 2024

2,527,099

179,752

2,706,851

12.	RELATED PARTY DISCLOSURES

During the year, support costs totalling £40,855 were charged by related parties, these amounts were deemed to be market value. At the balance sheet date the company owed £4,091 (2023 - £5,470) in respect of these charges.

The company invoiced amounts totalling £1,128 to group entities not 100% owned by the group. All 100% group entity charges and balances are not disclosed in line with the accounting policies.

13.	PARENT COMPANY

Goodwill Solutions (Holdings) CIC is the parent company of Goodwill Solutions Property Limited. Goodwill Solutions (Holdings) CIC is a private company incorporated in England. The company's registered office address is 1056 Deer Park Road, Moulton Park, Northampton, NN3 6RX.