IRIS Accounts Production v25.4.0.155 02483590 director 1.4.24 31.3.25 31.3.25 false true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 02483590 2024-03-31 02483590 2025-03-31 02483590 2024-04-01 2025-03-31 02483590 2023-03-31 02483590 2023-04-01 2024-03-31 02483590 2024-03-31 02483590 ns15:EnglandWales 2024-04-01 2025-03-31 02483590 ns14:PoundSterling 2024-04-01 2025-03-31 02483590 ns10:Director1 2024-04-01 2025-03-31 02483590 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 02483590 ns10:SmallEntities 2024-04-01 2025-03-31 02483590 ns10:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 02483590 ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 02483590 ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 02483590 ns10:FullAccounts 2024-04-01 2025-03-31 02483590 ns10:CompanySecretary1 2024-04-01 2025-03-31 02483590 ns10:RegisteredOffice 2024-04-01 2025-03-31 02483590 ns5:CurrentFinancialInstruments 2025-03-31 02483590 ns5:CurrentFinancialInstruments 2024-03-31 02483590 ns5:Non-currentFinancialInstruments 2025-03-31 02483590 ns5:Non-currentFinancialInstruments 2024-03-31 02483590 ns5:ShareCapital 2025-03-31 02483590 ns5:ShareCapital 2024-03-31 02483590 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 02483590 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 02483590 ns5:PlantMachinery 2024-04-01 2025-03-31 02483590 ns5:PlantMachinery 2024-03-31 02483590 ns5:PlantMachinery 2025-03-31 02483590 ns5:PlantMachinery 2024-03-31 02483590 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 02483590 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 02483590 ns5:Secured 2025-03-31 02483590 ns5:Secured 2024-03-31 02483590 ns10:Director1 1 2024-03-31 02483590 ns10:Director1 1 2023-03-31 02483590 ns10:Director1 1 2024-04-01 2025-03-31 02483590 ns10:Director1 1 2023-04-01 2024-03-31 02483590 ns10:Director1 1 2025-03-31 02483590 ns10:Director1 1 2024-03-31

REGISTERED NUMBER: 02483590 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Goodwells Limited

Goodwells Limited (Registered number: 02483590)

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Goodwells Limited

Company Information

for the Year Ended 31 March 2025

| DIRECTOR: | A P Redmond

| SECRETARY: | Mrs H Redmond

| REGISTERED OFFICE: | 100 Crosswells Road

| Oldbury

| West Midlands

| B68 8HH

| REGISTERED NUMBER: | 02483590 (England and Wales)

| ACCOUNTANTS: | Harris & Co

| (The practising name of

| Harris Accountants Limited)

| 1 Trinity Place

| Midland Drive

| Sutton Coldfield

| B72 1TX

Goodwells Limited (Registered number: 02483590)

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 774 |  | 1,549 |  |

CURRENT ASSETS

Stocks | 31,332 |  | 77,447 |  |

Debtors | 5 | 444,593 |  | 203,307 |  |

Cash at bank | 100,500 |  | 390,602 |  |

576,425 |  | 671,356 |  |

CREDITORS

Amounts falling due within one year | 6 | 173,263 |  | 255,453 |  |

NET CURRENT ASSETS | 403,162 |  | 415,903 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 403,936 |  | 417,452 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 1,747 |  | 12,193 |  |

NET ASSETS | 402,189 |  | 405,259 |  |

Goodwells Limited (Registered number: 02483590)

Balance Sheet - continued

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 5,001 |  | 5,001 |  |

Retained earnings | 397,188 |  | 400,258 |  |

SHAREHOLDERS' FUNDS | 402,189 |  | 405,259 |  |

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 director acknowledges his 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 director and authorised for issue on 2 April 2026 and were signed by:

A P Redmond - Director

Goodwells Limited (Registered number: 02483590)

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Goodwells Limited 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Owing to the continuing availability of funding and the on-going support of the company's shareholder, the director believes that it is appropriate to prepare the financial statements on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future.If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

| Turnover

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

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Plant and machinery etc | - | 10% on cost

| Freehold buildings are not depreciated as it is the company's policy to maintain its property in good repair and the life and residual value are such that depreciation would not be material. Freehold land has not been depreciated. There have not been any changes in the bases from the previous year.

| Stocks

| Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Goodwells Limited (Registered number: 02483590)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| 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.

Goodwells Limited (Registered number: 02483590)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| The company provides a range of benefits to employees, including annual bonus arrangements and defined contribution pension plans.

| i. Short term benefits

| Short term benefits , including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

| ii.Defined contribution pension plans

| The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

| Debtors and creditors receivable / payable within one year

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

| Cash and cash equivalents

| Cash comprises cash in hand and demand deposits. Cash equivalents are short-term, highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with an insignificant risk of change in value.

| Impairment

| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date .If such indication exists, the recoverable amount of the asset or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2024 - 4 ) .

Goodwells Limited (Registered number: 02483590)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 53,904 |  |

| DEPRECIATION

| At 1 April 2024 | 52,355 |  |

| Charge for year | 775 |  |

| At 31 March 2025 | 53,130 |  |

| NET BOOK VALUE

| At 31 March 2025 | 774 |  |

| At 31 March 2024 | 1,549 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade debtors | 310,527 |  | 1,018 |  |

| Other debtors | 134,066 |  | 202,289 |  |

444,593 |  | 203,307 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans and overdrafts | 10,920 |  | 10,920 |  |

| Trade creditors | 35,158 |  | 62,534 |  |

| Taxation and social security | 91,593 |  | 143,811 |  |

| Other creditors | 35,592 |  | 38,188 |  |

173,263 |  | 255,453 |  |

Goodwells Limited (Registered number: 02483590)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans | 1,747 |  | 12,193 |  |

8. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans | 12,667 |  | 23,113 |  |

9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

| 31.3.25 |  | 31.3.24

£ | £ |

| A P Redmond

| Balance outstanding at start of year | 96,665 |  | 96,883 |  |

| Amounts advanced | 133,212 |  | - |  |

| Amounts repaid | (136,500 | ) | (218 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 93,377 |  | 96,665 |  |