REGISTERED NUMBER: 06541564 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

GOING FASTER LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms S E Walters

Mr M J Walters

Ms E M A Walters

SECRETARY:

Company Services (Uk) Ltd

REGISTERED OFFICE:

Equinox House

Clifton Park Avenue

York

YO30 5PA

REGISTERED NUMBER:

06541564 (England and Wales)

ACCOUNTANTS:

Fortus Limited

Business Advisors & Accountants

Equinox House

Clifton Park, Shipton Road

York

YO30 5PA

FIXED ASSETS

Intangible assets

4

2,132

4,264

Tangible assets

5

219,556

87,090

221,688

91,354

CURRENT ASSETS

Debtors

6

160,714

2,125

Cash at bank

666,485

875,956

827,199

878,081

CREDITORS

Amounts falling due within one year

7

70,115

73,095

NET CURRENT ASSETS

757,084

804,986

TOTAL ASSETS LESS CURRENT LIABILITIES

978,772

896,340

PROVISIONS FOR LIABILITIES

950

21,772

NET ASSETS

977,822

874,568

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

977,812

874,558

977,822

874,568

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 5 November 2025 and were signed on its behalf by:

Mr M J Walters - Director

1.	STATUTORY INFORMATION

Going Faster 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.

These financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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.

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.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown with borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

36,086

AMORTISATION

At 1 April 2024

31,822

Charge for year

2,132

At 31 March 2025

33,954

NET BOOK VALUE

At 31 March 2025

2,132

At 31 March 2024

4,264

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

-

27,532

97,953

12,891

138,376

Additions

149,894

5,264

-

-

155,158

At 31 March 2025

149,894

32,796

97,953

12,891

293,534

DEPRECIATION

At 1 April 2024

-

13,907

24,488

12,891

51,286

Charge for year

-

4,326

18,366

-

22,692

At 31 March 2025

-

18,233

42,854

12,891

73,978

NET BOOK VALUE

At 31 March 2025

149,894

14,563

55,099

-

219,556

At 31 March 2024

-

13,625

73,465

-

87,090

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

3,547

2,125

Other debtors

157,167

-

160,714

2,125

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

68,016

64,812

Other creditors

2,099

8,283

70,115

73,095

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other debtors is £138,153 owed from the director. (2024: £33 in other creditors owing to the director). Interest on the overdrawn director's loan account has been charged at HMRC's approved rate.