Goldstone Laine Limited - Period Ending 2020-09-30

Goldstone Laine Limited

Contents

Company Information	1
Accountants' Report	2
Statement of Comprehensive Income	3
Balance Sheet	4
Statement of Changes in Equity	5
Notes to the Financial Statements	6 to 8

Goldstone Laine Limited

Company Information

Directors

Mr MV Hazzard Mr S D James

Registered office

24 Southfield Polegate East Sussex BN26 5LX

Accountants

Gold Accountants Limited 24 Southfield Polegate East Sussex BN26 5LX

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Goldstone Laine Limited
for the Year Ended 30 September 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Goldstone Laine Limited for the year ended 30 September 2020 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Goldstone Laine Limited, as a body, in accordance with the terms of our engagement letter dated 2 September 2014. Our work has been undertaken solely to prepare for your approval the accounts of Goldstone Laine Limited and state those matters that we have agreed to state. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Goldstone Laine Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Goldstone Laine Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Goldstone Laine Limited. You consider that Goldstone Laine Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Goldstone Laine Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Gold Accountants Limited
24 Southfield
Polegate
East Sussex
BN26 5LX

22 January 2021

Goldstone Laine Limited

Statement of Comprehensive Income for the Year Ended 30 September 2020

	Note	2020 £	2019 £
Profit/(loss) for the year		6,841	(6,431)
Total comprehensive income for the year		6,841	(6,431)

Goldstone Laine Limited

(Registration number: 09199612)
Balance Sheet as at 30 September 2020

	Note	2020 £	2019 £
Current assets
Debtors	4	11,880	5,220
Cash at bank and in hand		8,828	1,744
		20,708	6,964
Creditors: Amounts falling due within one year	5	(20,689)	(13,786)
Net assets/(liabilities)		19	(6,822)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(81)	(6,922)
Total equity		19	(6,822)

For the financial year ending 30 September 2020 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 January 2021 and signed on its behalf by:
 

.........................................

Mr MV Hazzard

Director

Goldstone Laine Limited

Notes to the Financial Statements for the Year Ended 30 September 2020

1	General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
24 Southfield
Polegate
East Sussex
BN26 5LX
United Kingdom

These financial statements were authorised for issue by the Board on 22 January 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Goldstone Laine Limited

Notes to the Financial Statements for the Year Ended 30 September 2020

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2019 - 0).

4

Debtors

	2020 £	2019 £
Trade debtors	11,880	5,220
Total current trade and other debtors	11,880	5,220

5

Creditors

	Note	2020 £	2019 £
Due within one year
Trade creditors		782	20
Amounts owed to group undertakings and undertakings in which the company has a participating interest	6	8,751	9,771
Taxation and social security		9,893	2,933
Other creditors		1,263	1,062
		20,689	13,786

6	Related party transactions

Summary of transactions with entities with joint control or significant interest

The directors and shareholders Mark Hazzard and Stephen James
 had director loan accounts credits of £4,363.19 and £4,387.32 respectively (down from £4,873.24 and £4,897.37 - 2019)
 

Expenditure with and payables to related parties

2020	Entities with joint control or significant influence £
Rendering of services	56,692
Amounts payable to related party	8,751

Goldstone Laine Limited

Notes to the Financial Statements for the Year Ended 30 September 2020

2019	Entities with joint control or significant influence £
Rendering of services	66,119
Amounts payable to related party	9,771