| GOODLIFFE PROPERTIES LIMITED |
| Registered number: |
00290759 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
6 |
|
|
13,100,000 |
|
|
12,300,000 |
|
| Current assets |
| Debtors |
7 |
|
751,069 |
|
|
118,580 |
| Cash at bank and in hand |
|
|
1,441,999 |
|
|
1,756,266 |
|
|
|
2,193,068 |
|
|
1,874,846 |
|
| Creditors: amounts falling due within one year |
8 |
|
(1,969,741) |
|
|
(783,176) |
|
| Net current assets |
|
|
|
223,327 |
|
|
1,091,670 |
|
| Net assets |
|
|
|
13,323,327 |
|
|
13,391,670 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
247,500 |
|
|
247,500 |
| Revaluation reserve |
9 |
|
|
1,910,270 |
|
|
1,110,270 |
| Profit and loss account |
|
|
|
11,165,557 |
|
|
12,033,900 |
|
| Shareholders' funds |
|
|
|
13,323,327 |
|
|
13,391,670 |
|
|
|
|
|
|
|
|
| The Directors are satisfied that the Company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The Members have not required the Company to obtain an audit in accordance with section 476 of the Act. |
| The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| I.C. Cracknell |
| Director |
| Approved by the Board on 15 July 2025 |
|
| GOODLIFFE PROPERTIES LIMITED |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Rental income |
|
Rental income is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold investments, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
20% straight line |
|
Investment land and buildings |
Nil |
|
|
Investment property |
|
Investment property is initially recognised at cost and then subsequently measured at fair value. Changes in value are recognised in the Profit and Loss Account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
| 2 |
Operating profit |
2025 |
|
2024 |
| £ |
£ |
|
This is stated after charging: |
|
Directors' remuneration |
61,612 |
|
66,383 |
|
Accountants remuneration |
4,910 |
|
4,754 |
|
|
|
|
|
|
|
|
|
| 3 |
Net Interest receivable/(payable) |
2025 |
|
2024 |
| £ |
£ |
|
Interest payable to asociated company |
(13,673) |
|
(13,597) |
|
Interest receivable |
55,818 |
|
55,676 |
|
|
|
|
|
|
42,145 |
|
42,079 |
|
|
|
|
|
|
|
|
|
| 4 |
Taxation |
2025 |
|
2024 |
| £ |
£ |
|
Corporation tax current year |
- |
|
158,294 |
|
Adjustment |
- |
|
- |
|
Deferred tax |
- |
|
- |
|
|
|
|
|
|
- |
|
158,294 |
|
|
|
|
|
|
|
|
|
| 5 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
4 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Tangible fixed assets |
|
|
|
|
Investment Properties |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost/ Valuation |
|
At 1 April 2024 |
12,300,000 |
|
24,444 |
|
12,324,444 |
|
Surpus on revaluation |
800,000 |
|
- |
|
800,000 |
|
At 31 March 2025 |
13,100,000 |
|
24,444 |
|
13,124,444 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
- |
|
(24,444) |
|
(24,444) |
|
At 31 March 2025 |
- |
|
(24,444) |
|
(24,444) |
|
Net book value |
|
At 31 March 2025 |
13,100,000 |
|
- |
|
13,100,000 |
|
At 31 March 2024 |
12,300,000 |
|
- |
|
12,300,000 |
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
11,189,730 |
|
11,189,730 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
11,189,730 |
|
11,189,730 |
|
The freehold investment properties were revalued by the Directors as at 31 March 2025 at fair value with professional advice. |
|
| 7 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
27,878 |
|
14,406 |
|
Other taxes and social security costs |
|
|
|
|
20,354 |
|
- |
|
Other debtors |
702,837 |
|
104,174 |
|
|
|
|
|
|
751,069 |
|
118,580 |
|
|
|
|
|
|
|
|
|
| 8 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Rents and deposits |
25,011 |
|
39,434 |
|
Trade creditors |
164,926 |
|
1,637 |
|
Amounts owed to group undertakings |
|
- |
|
188,100 |
|
Amount due to related undertaking with common shareholders |
|
358,869 |
|
353,234 |
|
Corporation tax |
- |
|
158,294 |
|
Other taxes and social security costs |
- |
|
24,209 |
|
Other creditors |
1,420,935 |
|
18,268 |
|
|
|
|
|
|
1,969,741 |
|
783,176 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Revaluation reserve |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 April 2024 |
1,110,270 |
|
1,567,270 |
|
Transfer of realised and unrealised net gains and losses on revaluation of investment properties net of deferred tax |
|
800,000 |
|
(457,000) |
|
|
At 31 March 2025 |
1,910,270 |
|
1,110,270 |
|
|
|
|
|
|
|
|
|
|
| 10 |
Related party transactions |
|
|
Transactions with related parties have all been concluded under normal market conditions. |
|
|
| 11 |
Controlling party |
|
|
The Company is wholly owned by Goodliffe Estates Limited which has no ultimate controlling party. |
|
| 12 |
Other information |
|
|
GOODLIFFE PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
C/o Elliott & Partners |
|
1 Sudley Terrace, High Street |
|
Bognor Regis |
|
West Sussex |
|
PO21 1EY |