REGISTERED NUMBER: 12166940 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GOODCO GROUP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C S W Hopwood

SECRETARY:

REGISTERED OFFICE:

1 Pittman Way

Fulwood

Preston

PR2 9ZD

REGISTERED NUMBER:

12166940 (England and Wales)

ACCOUNTANTS:

MBE Accountancy Ltd

Chartered Certified Practice

10 High Street

Windermere

Cumbria

LA231AF

FIXED ASSETS

Intangible assets

4

2,660

3,007

Tangible assets

5

2,196,155

2,074,599

2,198,815

2,077,606

CURRENT ASSETS

Stocks

153,850

231,075

Debtors

6

786,902

759,863

Cash at bank

1,257,012

1,224,129

2,197,764

2,215,067

CREDITORS

Amounts falling due within one year

7

673,408

787,642

NET CURRENT ASSETS

1,524,356

1,427,425

TOTAL ASSETS LESS CURRENT LIABILITIES

3,723,171

3,505,031

CREDITORS

Amounts falling due after more than one year

8

(402,129

)

(539,862

)

PROVISIONS FOR LIABILITIES

(627,997

)

(605,353

)

NET ASSETS

2,693,045

2,359,816

CAPITAL AND RESERVES

Called up share capital

11

11

Share premium

60,004

60,004

Retained earnings

2,633,030

2,299,801

SHAREHOLDERS' FUNDS

2,693,045

2,359,816

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 director acknowledges his 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 director and authorised for issue on 26 September 2025 and were signed by:

C S W Hopwood - Director

1.	STATUTORY INFORMATION

GoodCo Group Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

in accordance with the lease

Plant and machinery

-

at variable rates on different policies

Motor vehicles

-

at variable rates on different policies

Computer equipment

-

30% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

4,995

Additions

170

At 31 December 2024

5,165

AMORTISATION

At 1 January 2024

1,988

Charge for year

517

At 31 December 2024

2,505

NET BOOK VALUE

At 31 December 2024

2,660

At 31 December 2023

3,007

5.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

Computer

leasehold

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

37,124

2,321,872

52,433

13,441

2,424,870

Additions

-

376,521

34,250

2,014

412,785

Disposals

(5,485

)

(73,876

)

(8,500

)

(384

)

(88,245

)

At 31 December 2024

31,639

2,624,517

78,183

15,071

2,749,410

DEPRECIATION

At 1 January 2024

3,712

330,292

12,282

3,985

350,271

Charge for year

3,713

223,056

2,515

3,259

232,543

Eliminated on disposal

(1,097

)

(24,514

)

(3,774

)

(174

)

(29,559

)

At 31 December 2024

6,328

528,834

11,023

7,070

553,255

NET BOOK VALUE

At 31 December 2024

25,311

2,095,683

67,160

8,001

2,196,155

At 31 December 2023

33,412

1,991,580

40,151

9,456

2,074,599

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

612,782

DEPRECIATION

At 1 January 2024

87,474

Charge for year

44,030

At 31 December 2024

131,504

NET BOOK VALUE

At 31 December 2024

481,278

At 31 December 2023

525,308

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

410,255

444,524

Other debtors

376,647

315,339

786,902

759,863

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

99,667

136,646

Trade creditors

243,747

166,750

Taxation and social security

108,992

227,980

Other creditors

221,002

256,266

673,408

787,642

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

140,380

198,749

Other creditors

261,749

341,113

402,129

539,862

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

C S W Hopwood

Balance outstanding at start of year

(261,432

)

(285,246

)

Amounts advanced

168,698

157,981

Amounts repaid

(150,370

)

(134,167

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(243,104

)

(261,432

)

10.	ULTIMATE CONTROLLING PARTY

The controlling party is C S W Hopwood.