REGISTERED NUMBER: 04306354 (England and Wales)

Goldcross Commercial Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Lababedi

N Lababedi

SECRETARY:

N Lababedi

REGISTERED OFFICE:

Homestead Court Hotel

Homestead Lane

Welwyn Garden City

Hertfordshire

AL7 4LX

REGISTERED NUMBER:

04306354 (England and Wales)

ACCOUNTANTS:

Baker Watkin Accounting Ltd

Chartered Accountants

Middlesex House

Rutherford Close

Stevenage

Hertfordshire

SG1 2EF

FIXED ASSETS

Tangible assets

3

2,640,712

2,666,176

CURRENT ASSETS

Stocks

1,731

2,081

Debtors

4

1,760,493

1,339,958

Cash at bank and in hand

138,915

245,309

1,901,139

1,587,348

CREDITORS

Amounts falling due within one year

5

(341,606

)

(415,276

)

NET CURRENT ASSETS

1,559,533

1,172,072

TOTAL ASSETS LESS CURRENT LIABILITIES

4,200,245

3,838,248

PROVISIONS FOR LIABILITIES

(30,353

)

(35,192

)

NET ASSETS

4,169,892

3,803,056

CAPITAL AND RESERVES

Called up share capital

6

2,000

2,000

Retained earnings

4,167,892

3,801,056

SHAREHOLDERS' FUNDS

4,169,892

3,803,056

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2025 and were signed on its behalf by:

N Lababedi - Director

1.	ACCOUNTING POLICIES

COMPANY INFORMATION

Goldcross Commercial Limited T/A Homestead Court Hotel is a private company limited by shares incorporated in England and Wales. The registered office is Homestead Court Hotel, Homestead Lane, Welwyn Garden City, Herts, AL7 4LX.

ACCOUNTING CONVENTION

These financial statements have been prepared in accordance with FRS 102 The Financial reporting standard applicable in the UK and Republic of Ireland (FRS 102)and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

TURNOVER

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

TANGIBLE FIXED ASSETS

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation of freehold land and buildings is at a 0% rate on the basis that the residual value is greater than cost.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and building Freehold

0%

Plant and Machinery

20% reducing balance

Fixtures,fittings & equipment

25% or 20% reducing balance or 33 1/3 on cost

Motor vehicles

25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

IMPAIRMENT OF FIXED ASSETS

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

STOCKS

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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 within borrowings in current liabilities.

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BASIC FINANCIAL ASSETS

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CLASSIFICATION OF FINANCIAL LIABILITIES

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BASIC FINANCIAL LIABILITIES

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

EQUITY INSTRUMENTS

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

TAXATION

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

CURRENT TAX

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

DEFERRED TAX

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

EMPLOYEE BENEFITS

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

RETIREMENT BENEFITS

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2024 - 25 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2024

2,483,443

25,048

1,163,847

Additions

-

3,171

11,609

At 31 March 2025

2,483,443

28,219

1,175,456

DEPRECIATION

At 1 April 2024

-

12,493

1,058,985

Charge for year

-

2,786

21,988

At 31 March 2025

-

15,279

1,080,973

NET BOOK VALUE

At 31 March 2025

2,483,443

12,940

94,483

At 31 March 2024

2,483,443

12,555

104,862

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

87,000

4,301

3,763,639

Additions

-

1,210

15,990

At 31 March 2025

87,000

5,511

3,779,629

DEPRECIATION

At 1 April 2024

24,620

1,365

1,097,463

Charge for year

15,595

1,085

41,454

At 31 March 2025

40,215

2,450

1,138,917

NET BOOK VALUE

At 31 March 2025

46,785

3,061

2,640,712

At 31 March 2024

62,380

2,936

2,666,176

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

14,259

1,773

Other debtors

1,746,234

1,338,185

1,760,493

1,339,958

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

97,965

89,778

Taxation and social security

226,290

256,046

Other creditors

17,351

69,452

341,606

415,276

The company's bankers hold a fixed and floating charge over all assets of the company for loan and overdraft facilities made available to the company. At 31 March 2025 the balance owing to the bank on these facilities amounted to £nil (2024: £nil).

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,994

Ordinary share capital

1

1,994

1,994

6

Ordinary A shares

1

6

6

2,000

2,000

7.	FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENCIES

Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease

payments under non-cancellable operating leases of £1,504.92 (2024 £2,006.60).