UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

GOODROWES OF CHICHESTER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D A Sadler

D Sadler

SECRETARY:

K Lane

REGISTERED OFFICE:

6 The Hornet

Chichester

West Sussex

PO19 7JQ

REGISTERED NUMBER:

00383209 (England and Wales)

ACCOUNTANTS:

Evans Weir

The Victoria

25 St Pancras

Chichester

West Sussex

PO19 7LT

BANKERS:

Barclays Bank Plc

74 - 75 East Street

Chichester

West Sussex

PO19 1HR

FIXED ASSETS

Tangible assets

4

2,750,553

2,757,177

CURRENT ASSETS

Stocks

180,241

208,993

Debtors

5

80,368

77,600

Cash at bank and in hand

62,926

39,548

323,535

326,141

CREDITORS

Amounts falling due within one year

6

244,719

244,944

NET CURRENT ASSETS

78,816

81,197

TOTAL ASSETS LESS CURRENT LIABILITIES

2,829,369

2,838,374

CREDITORS

Amounts falling due after more than one year

7

(7,492

)

(17,615

)

PROVISIONS FOR LIABILITIES

(423,893

)

(423,893

)

NET ASSETS

2,397,984

2,396,866

CAPITAL AND RESERVES

Called up share capital

10,745

10,745

Revaluation reserve

8

1,790,264

1,790,264

Capital redemption reserve

(8,265

)

(8,265

)

Retained earnings

605,240

604,122

SHAREHOLDERS' FUNDS

2,397,984

2,396,866

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 29th September 2025 and were signed on its behalf by:

D A Sadler - Director

D Sadler - Director

1.	STATUTORY INFORMATION

Goodrowes Of Chichester 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 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 as modified by the revaluation of certain assets.

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

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

Land and buildings

-

not provided

Plant and machinery etc

-

25% on reducing balance and 10% 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

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1st January 2024

and 31st December 2024

2,525,000

774,232

3,299,232

DEPRECIATION

At 1st January 2024

-

542,055

542,055

Charge for year

-

6,624

6,624

At 31st December 2024

-

548,679

548,679

NET BOOK VALUE

At 31st December 2024

2,525,000

225,553

2,750,553

At 31st December 2023

2,525,000

232,177

2,757,177

Cost or valuation at 31st December 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 1996

273,173

-

273,173

Valuation in 2008

2,200,000

-

2,200,000

Cost

51,827

774,232

826,059

2,525,000

774,232

3,299,232

If land and buildings had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

51,827

51,827

Freehold land and buildings were valued on an open market value basis on 20th November 2008 by Gilbert & Cleveland .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

74,035

70,217

Other debtors

6,333

7,383

80,368

77,600

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

19,271

31,567

Trade creditors

125,804

139,387

Taxation and social security

35,694

34,840

Other creditors

63,950

39,150

244,719

244,944

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

7,492

17,615

8.

RESERVES

Revaluation

reserve

£

At 1st January 2024

and 31st December 2024

1,790,264