Goldex Investments (Kent) Limited - Accounts to registrar (filleted) - small 18.2
Goldex Investments (Kent) Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Goldex Investments (Kent) Limited |
Unaudited Financial Statements for the Year Ended 31 October 2021 |
Goldex Investments (Kent) Limited (Registered number: 08742589) |
Contents of the Financial Statements |
for the Year Ended 31 October 2021 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Goldex Investments (Kent) Limited |
Company Information |
for the Year Ended 31 October 2021 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
5 London Road |
Rainham |
Gillingham |
Kent |
ME8 7RG |
Goldex Investments (Kent) Limited (Registered number: 08742589) |
Statement of Financial Position |
31 October 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Inventories |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Goldex Investments (Kent) Limited (Registered number: 08742589) |
Statement of Financial Position - continued |
31 October 2021 |
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 |
Goldex Investments (Kent) Limited (Registered number: 08742589) |
Notes to the Financial Statements |
for the Year Ended 31 October 2021 |
1. | STATUTORY INFORMATION |
Goldex Investments (Kent) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Income recognition |
Income represents net invoiced sales of goods and services, excluding value added tax. Income is recognised when the company becomes entitled to receive it. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Inventories |
Inventories are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first out) basis. Provision is made for obsolete or defective inventories where appropriate. |
Financial instruments |
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
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 statement of financial position date. |
Goldex Investments (Kent) Limited (Registered number: 08742589) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2021 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Going concern |
In common with many other companies, the impact of the COVID-19 virus and the measures being taken to control its spread, have had a detrimental affect on the business, as the lockdowns and social restrictions curtailed the company's income. |
However, taking into consideration the UK Government's financial support, the directors planning and the expansion of take-away income streams, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future and that revenues will recover in due course. |
Government grants |
Government grants in relation to COVID-19 are recognised on the accruals basis and credited to the Income Statement and any related expenditure is charged to the Income Statement. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 November 2020 |
and 31 October 2021 |
AMORTISATION |
At 1 November 2020 |
and 31 October 2021 |
NET BOOK VALUE |
At 31 October 2021 |
At 31 October 2020 |
Goldex Investments (Kent) Limited (Registered number: 08742589) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2021 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 November 2020 |
Additions |
At 31 October 2021 |
DEPRECIATION |
At 1 November 2020 |
Charge for year |
At 31 October 2021 |
NET BOOK VALUE |
At 31 October 2021 |
At 31 October 2020 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | LEASING AGREEMENTS |
The total operating lease commitment at the Balance Sheet date is £3,556,312. |
9. | SECURED DEBTS |
HSBC Bank PLC holds a composite guarantee over the company's assets, the loan is within Goldex Investments Ltd, a company controlled by the director. |
10. | CONTINGENT LIABILITIES |
Goldex Investments (Kent) Ltd is part of a group VAT registration comprising Goldex Investments Ltd and its subsidiary undertaking, Goldex Investments (Sussex) Ltd. In accordance with HMRC regulations all members of a VAT group are jointly and severally liable for the liability of all members of the group. |
At the balance sheet date, the group accounts included a total group VAT debtor amounting to £57,474. Of this amount £20,731 is included within debtors in the balance sheet of Goldex Investments (Kent) Ltd. |
Goldex Investments (Kent) Limited (Registered number: 08742589) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2021 |
11. | RELATED PARTY DISCLOSURES |
Included within debtors are the amounts of £4,329,291 due from Goldex Investments Ltd and £71,442 from Goldeggs Properties Ltd, companies in which the director is a mutual director. |
Included within creditors is the amount of £1,171 due to Brar.Sterling-Heights Ltd, a company in which the director is a mutual director. |