REGISTERED NUMBER: 14016940 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

One Good Thing Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Bedford

D Bedford

REGISTERED OFFICE:

Unit 3 Trust Industrial Estate

Wilbury Way

Hitchin

Hertfordshire

SG4 0UZ

REGISTERED NUMBER:

14016940 (England and Wales)

ACCOUNTANTS:

Braceys Accountants Limited

Unit 1 The Cam Centre

Wilbury Way

Hitchin

Hertfordshire

SG4 0TW

FIXED ASSETS

Intangible assets

4

166,540

178,331

Tangible assets

5

180,041

212,541

346,581

390,872

CURRENT ASSETS

Stocks

13,506

21,879

Debtors

6

396,603

154,919

Cash at bank

104,436

68,817

514,545

245,615

CREDITORS

Amounts falling due within one year

7

4,001,398

2,674,409

NET CURRENT LIABILITIES

(3,486,853

)

(2,428,794

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,140,272

)

(2,037,922

)

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

(3,140,282

)

(2,037,932

)

(3,140,272

)

(2,037,922

)

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 23 December 2025 and were signed on its behalf by:

D Bedford - Director

1.	STATUTORY INFORMATION

One Good Thing 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.

Turnover

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

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

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

Long leasehold

-

10% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

33% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable,

direct labour costs and those overheads that have been incurred in bringing the inventories to their

present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss

Taxation

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except tha a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits

reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they willbe recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively

enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

The Directors have conducted an annual review of deferred tax and concluded that a deferred tax

asset should not be recognised until the entity can demonstrate that future profitability is probable.

Foreign currencies

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are

retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the

ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Going concern

At balance sheet date the company has net current liabilities of £3,486,853 (2024: £2,428,794) and retained losses of £3,140,282 (2024: 2,037,932). The Director pledges to financially support the business for the forseable future and on this basis has concluded the preparation under a going concern basis to be appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

203,952

Additions

20,705

At 31 March 2025

224,657

AMORTISATION

At 1 April 2024

25,621

Charge for year

32,496

At 31 March 2025

58,117

NET BOOK VALUE

At 31 March 2025

166,540

At 31 March 2024

178,331

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

48,537

107,806

52,366

44,446

253,155

Additions

15,599

3,360

307

1,239

20,505

At 31 March 2025

64,136

111,166

52,673

45,685

273,660

DEPRECIATION

At 1 April 2024

3,835

14,389

12,517

9,873

40,614

Charge for year

6,187

17,770

17,372

11,676

53,005

At 31 March 2025

10,022

32,159

29,889

21,549

93,619

NET BOOK VALUE

At 31 March 2025

54,114

79,007

22,784

24,136

180,041

At 31 March 2024

44,702

93,417

39,849

34,573

212,541

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,880

-

Amounts owed by group undertakings

252,896

-

Other debtors

140,827

154,919

396,603

154,919

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

7,643

35,806

Taxation and social security

23,609

3,800

Other creditors

3,970,146

2,634,803

4,001,398

2,674,409

8.	RELATED PARTY TRANSACTIONS

At the balance sheet date the company owed £3,963,361 (2024: £2,614,272) to Mr M Bedford. There are no terms relating to the repayment of this loan and no interest is charged.

At the balance sheet date the company was owed £252,895 by Ryeharvest Ltd, its parent company. This loan is provided interest free and is repayable on demand.