Goodguyz Oval Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03952001

Goodguyz Oval Limited

Filleted Unaudited Financial Statements

31 March 2025

Goodguyz Oval Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Current assets

Stocks		3,000	3,000
Debtors	4	244	244
		-------	-------
		3,244	3,244

Creditors: amounts falling due within one year	5	601,225		600,865
		---------		---------
Net current liabilities			597,981	597,621
			---------	---------
Total assets less current liabilities			( 597,981)	( 597,621)
			---------	---------
Net liabilities			( 597,981)	( 597,621)
			---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 597,982)	( 597,622)
	---------	---------
Shareholders deficit	( 597,981)	( 597,621)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 24 December 2025 , and are signed on behalf of the board by:

Mr S. Bassett
Director

Company registration number: 03952001

Goodguyz Oval Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 64 Alma Street, Luton, LU1 2PL, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The directors are aware that the company has excess of liabilities over assets. No material uncertainties related to events or conditions have been identified by the directors that may cast significant doubt about the ability of the company to continue as a going concern. The Directors will continue to support the company financially till it recovers from its current losses. Included in creditors is the Directors Loan Account balance of £. There is no intention to withdraw these funds in the foreseeable future.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Debtors

	2025	2024
	£	£
Other debtors	244	244
	----	----

5. Creditors: amounts falling due within one year

	2025	2024
	£	£
Other creditors	601,225	600,865
	---------	---------

6. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr S. Bassett	( 598,101)	( 360)	( 598,461)
	---------	----	---------

	2024
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr S. Bassett	( 598,041)	( 60)	( 598,101)
	---------	----	---------

7. Related party transactions

The company was under the control of Mr S. Bassett throughout the current and previous financial years. Mr S. Bassett is the managing director and sole shareholder.