REGISTERED NUMBER: 10183330 (England and Wales)

Goldwell Manufacturing Services Limited

Unaudited Financial Statements

for the year ended

31 October 2024

Page

Balance Sheet

1

Notes to the Financial Statements

2

to

5

FIXED ASSETS

Tangible assets

5

250,883

381,435

CURRENT ASSETS

Stocks

6

100,000

140,000

Debtors

7

16,705

160,281

Cash at bank

628,011

279,879

744,716

580,160

CREDITORS

Amounts falling due within one year

8

(401,230

)

(439,258

)

NET CURRENT ASSETS

343,486

140,902

TOTAL ASSETS LESS CURRENT LIABILITIES

594,369

522,337

PROVISIONS FOR LIABILITIES

(62,721

)

(92,113

)

NET ASSETS

531,648

430,224

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

531,548

430,124

SHAREHOLDERS' FUNDS

531,648

430,224

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

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

M S Beck - Director

M J Edwards - Director

1.	STATUTORY INFORMATION

Goldwell Manufacturing Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

10183330

Registered office:

Unit C

Salmon Road

Great Yarmouth

Norfolk

NR30 3QS

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

4.	EMPLOYEES AND DIRECTORS

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

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 November 2023

646,103

1,414

39,481

3,676

690,674

Additions

15,452

1,134

-

1,514

18,100

Disposals

(70,573

)

-

-

-

(70,573

)

At 31 October 2024

590,982

2,548

39,481

5,190

638,201

DEPRECIATION

At 1 November 2023

284,142

279

21,626

3,192

309,239

Charge for year

81,506

259

4,464

386

86,615

Eliminated on disposal

(8,536

)

-

-

-

(8,536

)

At 31 October 2024

357,112

538

26,090

3,578

387,318

NET BOOK VALUE

At 31 October 2024

233,870

2,010

13,391

1,612

250,883

At 31 October 2023

361,961

1,135

17,855

484

381,435

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

Plant and

machinery

£

COST

At 1 November 2023

and 31 October 2024

136,200

DEPRECIATION

At 1 November 2023

73,775

Charge for year

17,025

At 31 October 2024

90,800

NET BOOK VALUE

At 31 October 2024

45,400

At 31 October 2023

62,425

6.

STOCKS

2024

2023

£

£

Stocks

30,000

50,000

Work-in-progress

70,000

90,000

100,000

140,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

15,500

136,870

VAT

-

22,573

Prepayments

1,205

838

16,705

160,281

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

21,996

80,530

Corporation tax

125,400

46,345

Social security and other taxes

8,138

11,515

VAT

28,231

-

Other creditors

1,232

3,037

Directors' current accounts

189,923

263,820

Accrued expenses

2,310

2,011

Deferred government grants

24,000

32,000

401,230

439,258

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

60

Ordinary A

£1

60

60

40

Ordinary B

£1

40

40

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

2024

2023

£

£

M S Beck

Balance outstanding at start of year

(183,124

)

(157,071

)

Amounts advanced

58,620

-

Amounts repaid

(16,904

)

(26,053

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(141,408

)

(183,124

)

M J Edwards

Balance outstanding at start of year

(80,696

)

(78,016

)

Amounts advanced

41,000

5,000

Amounts repaid

(8,819

)

(7,680

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(48,515

)

(80,696

)

The loans are provided on an interest free basis with no set repayment terms.

11.	DEFERRED INCOME

Included in other creditors is £24,000 (2023 - £32,000) received from the New Anglia Local Enterprise Partnership Growing Business Fund towards the cost of a new machine. The grant is being released to profit and loss over a period of 84 months as set out in the terms of the grant, commencing in the year ended 31 October 2019.