REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020 |
|
FOR |
|
PROJECT GOAT LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020 |
|
FOR |
|
PROJECT GOAT LIMITED |
PROJECT GOAT LIMITED (REGISTERED NUMBER: 09806108) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2020 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
PROJECT GOAT LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2020 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
35 Wilkinson Street |
Sheffield |
South Yorkshire |
S10 2GB |
PROJECT GOAT LIMITED (REGISTERED NUMBER: 09806108) |
|
BALANCE SHEET |
30 JUNE 2020 |
|
2020 | 2019 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
7 |
|
|
NET LIABILITIES |
( |
) |
( |
) |
|
CAPITAL AND RESERVES |
Called up share capital | 9 |
|
|
Retained earnings |
( |
) |
( |
) |
SHAREHOLDERS' FUNDS |
( |
) |
( |
) |
|
|
|
|
|
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. |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
PROJECT GOAT LIMITED (REGISTERED NUMBER: 09806108) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2020 |
|
1. | STATUTORY INFORMATION |
|
Project Goat Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
These financial statements cover the entity as an individual company. |
|
The figures in the financial statements are rounded to the nearest £. |
|
2. | STATEMENT OF COMPLIANCE |
|
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with the provisions of FRS 102 Section 1A – small entities. |
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
The company's balance sheet is reporting net overall liabilities, but as the company's funders have indicated that they will continue to provide ongoing facilities to the company, the directors have prepared the accounts on the basis that the company is a going concern. |
|
Turnover |
Turnover represents rents received and other property related income. Turnover is recognised when the company has the right to the income received. |
|
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition |
|
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. |
|
Financial instruments |
Financial Assets and Liabilities |
|
The company's loans payable meet the definition of a basic financial instrument, so they are originally recognised at the transaction price, with subsequent measurement being at amortised costs, using the effective interest rate method. |
|
Debt instruments which are financing transactions at a rate of interest that is not a market rate. |
|
Where debt instruments are classified as long term liabilities, then the company measures these at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
|
Where debt instruments are classified as current liabilities, then there is no present value adjustment to the initial measurement based on amortised cost. |
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was NIL (2019 - NIL). |
PROJECT GOAT LIMITED (REGISTERED NUMBER: 09806108) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2020 |
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
|
|
Other creditors |
|
|
|
|
|
7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2019 |
£ | £ |
Other creditors |
|
|
|
8. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2020 | 2019 |
£ | £ |
Other loan | 37,584,574 | 31,303,501 |
Accruals | 25,312,902 | 15,574,941 |
|
|
|
The loan and accruing interest cost above are secured by a legal mortgage over certain properties owned by the company and carried in stocks. |
|
9. | CALLED UP SHARE CAPITAL |
|
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
|
Ordinary A | £1 | 100 | 100 |
|
Ordinary B | £1 | 100 | 100 |
200 | 200 |
PROJECT GOAT LIMITED (REGISTERED NUMBER: 09806108) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2020 |
|
10. | RELATED PARTY DISCLOSURES |
|
Sparrowhawk Properties 606 Limited (incorporated in Jersey) |
Holds a participating interest in the company. |
|
During the year, Sparrowhawk Properties 606 Limited has continued to provide the company with an interest free loan of £999,900. This amount remains outstanding at the period end. |
|
Project Goat Holdco Limited |
Holds a participating interest in the company. |
|
During the period, Project Goat Holdco Limited has continued to provide the company with an interest free loan of £999,900. This amount remains outstanding at the period end. |