Good Innovation Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 07552374

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		4,733		9,587

			4,733		9,587
CURRENT ASSETS
Debtors	6	359,390		335,150
Cash at bank and in hand		497,748		261,286

		857,138		596,436
Creditors: Amounts Falling Due Within One Year	7	(674,440 )		(488,540 )

NET CURRENT ASSETS (LIABILITIES)			182,698		107,896

TOTAL ASSETS LESS CURRENT LIABILITIES			187,431		117,483

NET ASSETS			187,431		117,483

CAPITAL AND RESERVES
Called up share capital	8		110		110
Share premium account			10,690		10,690
Profit and Loss Account			176,631		106,683

SHAREHOLDERS' FUNDS			187,431		117,483

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Good Innovation Ltd

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 Andrew Bathgate Director	Mr Kevin Waudby Director
17/10/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Good Innovation Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07552374 . The registered office is Kemp House, 160 City Road, London, EC1V 2NX.

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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

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 on estimated milestones within the project.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible asset is website. It is amortised to profit and loss account over its estimated economic life of 9 years.

2.4. 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	20%
Computer Equipment	33%

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 17 (2024: 21)

4. Intangible Assets

	Other
	£
Cost
As at 1 April 2024	8,500

As at 31 March 2025	8,500

Amortisation
As at 1 April 2024	8,500

As at 31 March 2025	8,500

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

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Good Innovation Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2024	89,525	40,432	129,957
Additions	-	248	248

As at 31 March 2025	89,525	40,680	130,205

Depreciation
As at 1 April 2024	86,985	33,385	120,370
Provided during the period	934	4,168	5,102

As at 31 March 2025	87,919	37,553	125,472

Net Book Value
As at 31 March 2025	1,606	3,127	4,733

As at 1 April 2024	2,540	7,047	9,587

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	311,870	298,462
Prepayments and accrued income	24,341	27,988
Other debtors	23,091	8,700
Net wages	87	-
Directors' loan accounts	1	-

	359,390	335,150

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	21,394	30,465
Bank loans and overdrafts	18	-
Corporation tax	141,994	52,962
Other taxes and social security	29,417	42,343
VAT	81,998	54,060
Other creditors	184,589	83,460
HMRC Payments	73,250	153,159
Accruals and deferred income	141,780	72,091

	674,440	488,540

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	110	110

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