Goodwin Plastering Limited iXBRL

Company Registration Number: NI058623

Goodwin Plastering Limited

Unaudited Financial Statements

for the financial year ended 31 March 2026

Goodwin Plastering Limited

Company Registration Number: NI058623

BALANCE SHEET

as at 31 March 2026

		2026	2025
	Notes	£	£

Fixed Assets

Tangible assets

8,657

9,894

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Current Assets

Cash and cash equivalents

5,137

5,981

Creditors: amounts falling due within one year

(1,200)

(1,200)

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Net Current Assets

3,937

4,781

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Total Assets less Current Liabilities

12,594

14,675

Creditors:

amounts falling due after more than one year

(22,961)

(59,223)

Provisions for liabilities

7,274

14,289

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Net Liabilities

(3,093)

(30,259)

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Capital and Reserves

Called up share capital

Retained earnings

(3,095)

(30,261)

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Equity attributable to owners of the company

(3,093)

(30,259)

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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 16 June 2026 and signed on its behalf by



________________________________			________________________________
Seamus Goodwin			Mary Goodwin
Director			Director

Goodwin Plastering Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2026

General Information

Goodwin Plastering Limited is a company limited by shares incorporated in Northern Ireland. 26 Fintona Road, Dromore, Co Tyrone, BT78 3EF is the registered office, which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the year ended 31 March 2026 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Goodwill

Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery

12.5% Reducing balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

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.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Ordinary share capital

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

Going concern

The balance sheet shows a deficiency of assets on a historical cost basis of £3,093. However, as £22,961 of the deficiency has been created by the existence of loans from the directors which are not payable in the foreseeable future, it is considered that the preparation of the accounts on the going concern basis is appropriate.


4.	Employees

		2026	2025
		Number	Number

	Employees	1	1
		═════════	═════════


5.	Intangible assets

		Goodwill
		£
	Cost
	At 1 April 2025	77,000
		─────────

	At 31 March 2026	77,000
		─────────
	Amortisation

	At 31 March 2026	77,000
		─────────
	Net book value
	At 31 March 2026	-
		═════════


6.	Tangible assets
		Plant and
		machinery

		£
	Cost
	At 1 April 2025	43,005
		─────────

	At 31 March 2026	43,005
		─────────
	Depreciation
	At 1 April 2025	33,111
	Charge for the financial year	1,237
		─────────
	At 31 March 2026	34,348
		─────────
	Net book value
	At 31 March 2026	8,657
		═════════
	At 31 March 2025	9,894
		═════════


7.	Creditors	2026	2025
	Amounts falling due within one year	£	£

	Accruals	1,200	1,200
		═════════	═════════


8.	Creditors	2026	2025
	Amounts falling due after more than one year	£	£

	Directors' loan accounts	22,961	59,223
		═════════	═════════

Provisions for liabilities

The amounts provided for deferred taxation are analysed below:

Capital

Losses

Total

Total

allowances

2026

2025

At financial year start

1,880

(16,169)

(14,289)

(12,132)

Charged to profit and loss

285

6,730

7,015

(2,157)

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At financial year end

2,165

(9,439)

(7,274)

(14,289)

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10.

Related party transactions

At the start of the year the company had an opening liability of £59,223 owed to the director. During the year, the company borrowed a further £1,638 and repaid £37,900 leaving a closing balance owed to the director of £22,961 (2025: £59,223). This is included in the creditors section of the balance sheet.