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Registered number: 12329927
Good Will Lets Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12329927
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 571 761
Investment Properties 5 155,606 132,702
156,177 133,463
CURRENT ASSETS
Debtors 6 379,169 397,717
Cash at bank and in hand 6,598 5,261
385,767 402,978
Creditors: Amounts Falling Due Within One Year 7 (535,612 ) (528,658 )
NET CURRENT ASSETS (LIABILITIES) (149,845 ) (125,680 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,332 7,783
NET ASSETS 6,332 7,783
CAPITAL AND RESERVES
Called up share capital 8 100 1
Profit and Loss Account 6,232 7,782
SHAREHOLDERS' FUNDS 6,332 7,783
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr William Dodd
Director
16th September 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Good Will Lets Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12329927 . The registered office is Suite A James Carter Road, Mildenhall, Bury St. Edmunds, IP28 7DE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Reducing Balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 December 2023 1,483
As at 30 November 2024 1,483
Depreciation
As at 1 December 2023 722
Provided during the period 190
As at 30 November 2024 912
...CONTINUED
Page 3
Page 4
Net Book Value
As at 30 November 2024 571
As at 1 December 2023 761
5. Investment Property
2024
£
Fair Value
As at 1 December 2023 155,606
Depreciation and impairment -
As at 30 November 2024 155,606
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 379,169 397,717
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 535,160 528,658
Taxation and social security 452 -
535,612 528,658
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 1
Page 4