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Unaudited Financial Statements |
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for the Period 9 October 2020 to 31 December 2021 |
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for |
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The Good For Group Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period 9 October 2020 to 31 December 2021 |
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for |
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The Good For Group Ltd |
The Good For Group Ltd (Registered number: 12940055) |
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Contents of the Financial Statements |
for the Period 9 October 2020 to 31 December 2021 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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The Good For Group Ltd |
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Company Information |
for the Period 9 October 2020 to 31 December 2021 |
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Directors: |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Accountants |
114-120 Northgate Street |
Chester |
CH1 2HT |
The Good For Group Ltd (Registered number: 12940055) |
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Statement of Financial Position |
31 December 2021 |
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Notes | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Debtors | 5 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 6 | ( |
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Net current liabilities | ( |
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Total assets less current liabilities | ( |
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Capital and reserves |
Called up share capital | 7 |
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Retained earnings | ( |
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Shareholders' funds | ( |
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The directors acknowledge their 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. |
The Good For Group Ltd (Registered number: 12940055) |
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Statement of Financial Position - continued |
31 December 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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The Good For Group Ltd (Registered number: 12940055) |
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Notes to the Financial Statements |
for the Period 9 October 2020 to 31 December 2021 |
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1. | Statutory information |
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The Good For Group Ltd is a
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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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. |
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Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable |
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Tangible fixed assets |
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Computer equipment | - |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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The Good For Group Ltd (Registered number: 12940055) |
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Notes to the Financial Statements - continued |
for the Period 9 October 2020 to 31 December 2021 |
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2. | Accounting policies - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
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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. |
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Going concern |
The financial statements are prepared on the going concern basis on the assumption that the directors and shareholders will continue to provide financial support to enable the company to meet its current liabilities, which exceeded its current assets at 31 December 2021. |
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3. | Employees and directors |
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The average number of employees during the period was
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4. | Tangible fixed assets |
Computer |
equipment |
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Cost |
Additions |
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At 31 December 2021 |
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Net book value |
At 31 December 2021 |
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5. | Debtors: amounts falling due within one year |
£ |
Trade debtors |
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Other debtors |
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The Good For Group Ltd (Registered number: 12940055) |
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Notes to the Financial Statements - continued |
for the Period 9 October 2020 to 31 December 2021 |
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6. | Creditors: amounts falling due within one year |
£ |
Trade creditors |
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Other creditors |
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7. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
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Ordinary shares | £1 | 100 |
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One ordinary share was issued at par for cash upon incorporation. On 1 June 2021 a further 99 shares were issued at par for cash. |
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8. | Related party disclosures |
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During the period the directors made loans to the company. The balance on these loans at 31 December 2021 was £2,185. These loans are interest-free and repayable on demand. |