Gosling Trust
Company No. 04451021
Directors' Report and Unaudited Accounts
31 December 2024
Gosling Trust Contents
| Pages | |
|---|---|
| Company Information | 2 |
| Directors' Report | 3 |
| Accountant's Report | 4 |
| Income and Expenditure Account | 5 |
| Balance Sheet | 6 |
| Statement of Changes in Equity | 7 |
| Notes to the Accounts | 8 to 10 |
Page 1
Gosling Trust Company Information
Directors
T. Green L. Lambert M. Leader E. Tunley A. White
Secretary
J. Taylor
Registered Office
Goosewell Primary School Goosewell Road Plymstock Devon PL9 9HD
Accountants
Marc Lawson & Co Limited Unit 4 Sandy Court Ashleigh Way Plympton Plymouth PL7 5JX
Page 2
Gosling Trust Directors Report
The Directors present their report and the accounts for the year ended 31 December 2024.
Principal activities
The principal activity of the company during the year under review was a school club. The principal activity of the company during the year under review was a school club.
Directors
The Directors who served at any time during the year were as follows:
T. Green
L. Lambert
M. Leader
E. Tunley A. White
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
E. Tunley Director 13 May 2025
Page 3
Gosling Trust Accountants Report ICAEW
Chartered Accountant's Report to the Board of Directors of Gosling Trust on the preparation of the unaudited statutory accounts for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006 , we have prepared for your approval the accounts of Gosling Trust for the year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the Notes to the Accounts from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Gosling Trust, as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Gosling Trust and state those matters that we have agreed to state to the Board of Directors of Gosling Trust, as a body, in this report in accordance with AAF 07/16 as detailed at
www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gosling Trust and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Gosling Trust has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and deficit of Gosling Trust. You consider that Gosling Trust 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 Gosling Trust. 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.
Marc Lawson & Co Limited Accountants Unit 4 Sandy Court Ashleigh Way Plympton Plymouth PL7 5JX 13 May 2025
Page 4
Gosling Trust Income and Expenditure Account
for the year ended 31 December 2024
| for the year ended 31 December 2024 | ||
|---|---|---|
| Turnover Cost of Sales Gross profit Administrative expenses Other operating income Operating deficit Other interest receivable Deficit on ordinary activities before taxation Taxation Deficit for the financial year after taxation |
2024 £ 83,552 (4,606) 78,946 (93,293) - (14,347) 241 (14,106) - (14,106) |
2023 £ 72,114 (4,254) |
| 67,860 (68,106) 8 |
||
| (238) 177 |
||
| (61) - |
||
| (61) |
Page 5
Gosling Trust Balance Sheet
at 31 December 2024
| at 31 December 2024 | |
|---|---|
| Company No. 04451021 Notes 2024 £ Fixed assets Tangible assets 4 522 522 Current assets Debtors 5 144 Cash at bank and in hand 30,690 30,834 Creditors:Amount falling due within one year 6 (6,159) Net current assets 24,675 Total assets less current liabilities 25,197 Net assets 25,197 Reserves Income and expenditure account 7 25,197 Total equity 25,197 |
2023 £ 1,093 |
| 1,093 1,030 43,265 |
|
| 44,295 (6,085) |
|
| 38,210 39,303 |
|
| 39,303 | |
| 39,303 | |
| 39,303 |
Total equity
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 13 May 2025 and signed on its behalf by:
E. Tunley Director 13 May 2025
Page 6
Gosling Trust Statement of Changes in Equity
for the year ended 31 December 2024
| for the year ended 31 December 2024 | ||
|---|---|---|
| At 1 January 2023 Deficit for the year At 31 December 2023 and 1 January 2024 Deficit for the year At 31 December 2024 |
Income and Expenditure Account £ 39,364 (61) 39,303 |
Total equity £ 39,364 |
| (61) | ||
| 39,303 | ||
| (14,106) | (14,106) | |
| 25,197 | ||
| 25,197 | ||
Page 7
Gosling Trust Notes to the Accounts
for the year ended 31 December 2024
- 1 General information
Gosling Trust is a private company limited by guarantee and incorporated in England and Wales. Its registered number is: 04451021 Its registered office is: Goosewell Primary School Goosewell Road Plymstock Devon PL9 9HD
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
- 2 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
-
the Company has transferred to the buyer the significant risks and rewards of ownership of the goods;
-
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
-
the amount of revenue can be measured reliably;
-
it is probable that the economic benefits associated with the transaction will flow to the Company; and
-
the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery 25% Reducing balance Motor vehicles 35% Straight line Furniture, fittings and 25% Straight line equipment
Page 8
Gosling Trust Notes to the Accounts
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
- 3 Employees
| mployees | ||
|---|---|---|
| 2024 | 2023 | |
| Number | Number | |
| The average monthly number of employees (including directors) during the year was: |
17 | 17 |
4 Tangible fixed assets
| Cost or revaluation At 1 January 2024 At 31 December 2024 Depreciation At 1 January 2024 Charge for the year At 31 December 2024 Net book values At 31 December 2024 At 31 December 2023 ebtors Trade debtors Prepayments and accrued income |
Plant and machinery £ 3,489 |
Fixtures, fittings and equipment £ 9,652 |
Total £ 13,141 |
|---|---|---|---|
| 3,489 | 9,652 | 13,141 | |
| 3,042 112 |
9,006 459 |
12,048 571 |
|
| 3,154 | 9,465 | 12,619 | |
| 335 | 187 | 522 | |
| 447 | 646 | 1,093 | |
| 2024 £ 35 109 |
2023 £ 210 820 |
||
| 144 | 1,030 |
- 5 Debtors
Page 9
Gosling Trust Notes to the Accounts
6 Creditors:
amounts falling due within one year
| reditors: amounts falling due within one year |
||
|---|---|---|
| Taxes and social security Other creditors Accruals and deferred income |
2024 £ 1,868 108 4,183 6,159 |
2023 £ 1,702 44 4,339 |
| 6,085 |
7 Reserves
Income and expenditure account - includes all current and prior period retained surpluses and deficits.
Page 10
Gosling Trust Detailed Income and Expenditure Account
for the year ended 31 December 2024
| Turnover Cost of sales Purchases Cost of sales Gross profit Other administrative costs Employee costs Salaries/wages Pension costs Staff training Premises costs Rent General administrative costs, including depreciation and amortisation Depreciation of fixtures, fittings and equipment Charitable donations Equipment repairs and maintenance General insurances Software, IT support and related costs Stationery and printing Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Administrative expenses Other operating income Operating deficit Other interest receivable Bank interest receivable |
2024 £ 83,552 4,606 4,606 4,606 78,946 69,183 240 420 69,843 7,055 7,055 570 7,000 270 711 690 904 3,811 736 14,692 879 824 1,703 93,293 - (14,347) 241 241 |
2023 £ 72,114 4,254 |
|---|---|---|
| 4,254 | ||
| 4,254 67,860 56,143 113 - |
||
| 56,256 | ||
| 4,229 | ||
| 4,229 | ||
| 935 2 |
||
| 585 | ||
| 680 664 779 2,038 484 |
||
| 6,167 | ||
| 798 | ||
| 656 | ||
| 1,454 | ||
| 68,106 8 |
||
| (238) 177 |
||
| 177 |
Page 11
Gosling Trust Detailed Income and Expenditure Account
Deficit on ordinary activities before taxation
(14,106)
(61)
Page 12