Company No: 05298729 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	100,526		128,544
Investment property	4	2,686,043		2,686,043
Investments	5	102		102
		2,786,671		2,814,689
Current assets
Debtors	6	645,479		522,450
Cash at bank and in hand		1,135		648
		646,614		523,098
Creditors: amounts falling due within one year	7	( 474,189)		( 243,376)
Net current assets		172,425		279,722
Total assets less current liabilities		2,959,096		3,094,411
Creditors: amounts falling due after more than one year	8	( 2,553,129)		( 2,593,794)
Net assets		405,967		500,617
Capital and reserves
Called-up share capital		1,000		1,000
Fair value reserve		339,607		339,607
Profit and loss account		65,360		160,010
Total shareholders' funds		405,967		500,617

For the financial year ending 30 November 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Goodliff Limited (registered number: 05298729) were approved and authorised for issue by the Board of Directors on 26 June 2026. They were signed on its behalf by:

M S Ghuman Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Goodliff Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Knoll Nursing Home, 33 Preston Road, Yeovil, BA21 3AE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the rental of the company's investment property.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that 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
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the Company's net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the Company's net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The directors undertake an annual valuation of the investment property, taking into account prevailing market conditions, rental income, and other relevant factors. To provide additional assurance on the valuation, independent professional valuations are commissioned periodically, typically every three to five years. These independent valuations serve to corroborate the directors’ assessments and ensure that the carrying value of the investment property is fairly stated in the financial statements.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 December 2024	116,217		62,180		50,246		228,643
Additions	5,067		0		0		5,067
At 30 November 2025	121,284		62,180		50,246		233,710
Accumulated depreciation
At 01 December 2024	71,979		11,659		16,461		100,099
Charge for the financial year	12,009		12,630		8,446		33,085
At 30 November 2025	83,988		24,289		24,907		133,184
Net book value
At 30 November 2025	37,296		37,891		25,339		100,526
At 30 November 2024	44,238		50,521		33,785		128,544

4. Investment property

	Investment property
	£
Valuation
As at 01 December 2024	2,686,043
As at 30 November 2025	2,686,043

Valuation

The directors have assessed the value of the investment property at the balance sheet date and consider it to be recorded at the correct value on an open market basis. There has been no valuation of investment property by an independent valuer.

5. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 December 2024	102
At 30 November 2025	102
Carrying value at 30 November 2025	102
Carrying value at 30 November 2024	102

At the balance sheet date the company had 2 (2024 - 2) wholly owned subsidiaries.

6. Debtors

	2025		2024
	£		£
Amounts owed by own subsidiaries	642,472		521,820
Prepayments	3,007		326
Other debtors	0		304
	645,479		522,450

Amounts owed by own subsidiaries are repayable on demand and do not bear interest.

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured £ 23,744)	27,633		39,187
Trade creditors	7,910		6,082
Amounts owed to own subsidiaries	172,549		27,429
Amounts owed to connected companies	48,304		29,708
Amounts owed to related parties	120,626		81,264
Amounts owed to directors	30,083		0
Accruals	23,035		43,373
Obligations under finance leases and hire purchase contracts (secured)	6,841		6,719
Other creditors	37,208		9,614
	474,189		243,376

Amounts owed to own subsidiaries, connected companies, directors and related parties are repayable on demand and do not bear interest.

Other creditors is made up of credit card liabilities.

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured £ 2,504,519)	2,518,923		2,552,746
Obligations under finance leases and hire purchase contracts (secured)	34,206		41,048
	2,553,129		2,593,794

Within bank loans is a balance of £2,528,263 (2024 - £2,569,847) which is secured by a directors' guarantee of £1,000,000 and a fixed and floating charge over all the assets and undertakings of the company and those of its subsidiary.

Also within bank loans is a balance of £18,293 (2024 - £22,086) relating to an outstanding amount due from a Coronavirus Bounce Back Loan. The UK government have guaranteed 100% of the value of the loan.

The hire purchase contracts are secured on the assets concerned which are included within vehicles. The total net book value of the assets held on hire purchase is £37,891 (2024 - £50,521).

9. Related party transactions

Transactions with the entity's directors

Guarantees

The directors have provided a personal guarantee of £500,000 each against the company's bank borrowings.

Other related party transactions

The company acts as guarantor for a loan facility of £50,000 for one of its subsidiaries. At the year end date the balance owed under this agreement was £14,326 (2024 - £25,180).