1 February 2025 v2026.41.1 limited_company_frs_102_section_1a_v1_1_4 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP117697522025-02-012026-01-31117697522026-01-31117697522025-01-3111769752core:WithinOneYear2026-01-3111769752core:WithinOneYear2025-01-3111769752core:AfterOneYear2026-01-3111769752core:AfterOneYear2025-01-3111769752core:ShareCapital2026-01-3111769752core:ShareCapital2025-01-3111769752core:RetainedEarningsAccumulatedLosses2026-01-3111769752core:RetainedEarningsAccumulatedLosses2025-01-3111769752bus:Director12025-02-012026-01-3111769752bus:RegisteredOffice2025-02-012026-01-3111769752core:OfficeEquipment2025-02-012026-01-31117697522024-02-012025-01-3111769752core:PlantMachinery2026-01-3111769752core:CostValuation2025-02-0111769752core:AdditionsToInvestments2026-01-3111769752core:RevaluationsIncreaseDecreaseInInvestments2026-01-3111769752core:CostValuation2026-01-311176975212025-02-012026-01-3111769752countries:EnglandWales2025-02-012026-01-3111769752bus:AuditExemptWithAccountantsReport2025-02-012026-01-3111769752bus:PrivateLimitedCompanyLtd2025-02-012026-01-3111769752bus:SmallEntities2025-02-012026-01-3111769752bus:FullAccounts2025-02-012026-01-31
Company registration number:
11769752
GOAB Limited
Unaudited Filleted Financial Statements for the year ended
31 January 2026
GOAB Limited
Statement of Financial Position
31 January 2026
20262025
Note££
Fixed assets    
Investments 6
395,000
 
266,635
 
Current assets    
Debtors 7
9,219
 
7,694
 
Cash at bank and in hand
173
 
5,584
 
9,392
 
13,278
 
Creditors: amounts falling due within one year 8
(9,202
 )
(10,144
 )
Net current assets
190
 
3,134
 
Total assets less current liabilities 395,190   269,769  
Creditors: amounts falling due after more than one year 9
(363,520
 )
(254,632
 )
Provisions for liabilities
(3,454
 ) -  
Net assets
28,216
 
15,137
 
Capital and reserves    
Called up share capital
30
 
30
 
Profit and loss account
28,186
 
15,107
 
Shareholders funds
28,216
 
15,137
 
For the year ending
31 January 2026
, 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
29 October 2026
, and are signed on behalf of the board by:
Mr A Akande
Director
Company registration number:
11769752
GOAB Limited
Notes to the Financial Statements
Year ended
31 January 2026

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
24 Y Deri Duon
,
Lisvane
,
Cardiff
,
CF14 0AA
, United Kingdom.

2 Statement of compliance

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

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
33% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2025:
1.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 February 2025
and
31 January 2026
750
 
Depreciation  
At
1 February 2025
and
31 January 2026
750
 
Carrying amount  
At
31 January 2026
 -  
At 31 January 2025 -  

6 Investments

Other investments other than loans
£
Cost or valuation  
At
1 February 2025
266,635
 
Additions
110,185
 
Revaluations
18,180
 
At
31 January 2026
395,000
 
Impairment  
At
1 February 2025
and
31 January 2026
 -  
Carrying amount  
At
31 January 2026
395,000
 
At 31 January 2025
266,635
 
Other investments are four investment properties and are stated at fair value at the balance sheet date. The investment properties are carried at fair value. The properties were valued at the year-end balance sheet date by Mr A Akande (company director) on an open-market basis. The valuations were determined using recent market transactions in the area.

Investments held at valuation

In respect of fixed asset investments held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
20262025
Other investmentsOther investments
££
Aggregate historical cost 376,820   266,635  
Carrying amount 376,820   266,635  
The investment properties are carried at fair value. The properties were valued at the year-end balance sheet date by Mr A Akande (company director) on an open-market basis. The valuations were determined using recent market transactions in the area.

7 Debtors

20262025
££
Trade debtors
304
  -  
Other debtors
8,915
 
7,694
 
9,219
 
7,694
 

8 Creditors: amounts falling due within one year

20262025
££
Bank loans and overdrafts
2,000
 
3,000
 
Taxation and social security -  
1,308
 
Other creditors
7,202
 
5,836
 
9,202
 
10,144
 

9 Creditors: amounts falling due after more than one year

20262025
££
Bank loans and overdrafts
8,208
 
9,146
 
Other creditors
355,312
 
245,486
 
363,520
 
254,632
 

10 Director's advances, credit and guarantees

The following advances and credits to directors subsisted during the year ended 31 January 2026 and for the year ended 31 January 2025:
Mr A Akande
For the year ended 31st January 2026 the balance outstanding at start of year was £32,186, amounts advanced was £24,965, amounts repaid was £34,049 and the balance outstanding at end of year was £41,270. £41,270 was owed to Mr A Akande from the company, £Nil is stated within creditors: amounts falling due within one year and £41,270 is stated within creditors: amounts falling due after more than one year.
For the year ended 31st January 2025 the balance outstanding at start of year was £57,175, amounts advanced was £42,970, amounts repaid was £17,981 and the balance outstanding at end of year was £32,186. £32,186 was owed to Mr A Akande from the company, £Nil is stated within creditors: amounts falling due within one year and £32,186 is stated within creditors: amounts falling due after more than one year.
Mrs GO Badero
For the year ended 31st January 2026 the balance outstanding at start of year was £36,654, amounts advanced was £15,430, amounts repaid was £40,510 and the balance outstanding at end of year was £61,734. £61,734 was owed to Mrs GO Badero from the company, £Nil is stated within creditors: amounts due within one year and £61,734 is stated within creditors: amounts falling due after more than one year.
For the year ended 31st January 2025 the balance outstanding at start of year was £22,907, amounts advanced was £2,567, amounts repaid was £16,314 and the balance outstanding at end of year was £36,654. £36,654 was owed to Mrs GO Badero from the company, £Nil is stated within creditors: amounts due within one year and £34,654 is stated within creditors: amounts falling due after more than one year.

11 Controlling party

The shareholders of the company during the year ended 31 January 2026 and for the year ended 31 January 2025 were:
4 Ordinary Class A Shares - Ganiat Olaide Badero
24 Ordinary Class B Shares - Ademola Akande
2 Ordinary Class C Shares - Bukola Badero
The company was under the control of Ademola Akende for the year ended 31 January 2026 and for the year ended 31 January 2025.