Goodway (Properties) Limited - Accounts to registrar (filleted) - small 18.2

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Goodway (Properties) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss A H Goodway

Mrs K Goodway

SECRETARY:

Mrs K Goodway

REGISTERED OFFICE:

8/10 South Street

Epsom

Surrey

KT18 7PF

REGISTERED NUMBER:

00802515 (England and Wales)

ACCOUNTANTS:

Williams & Co

Chartered Accountants

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Tangible assets

4

-

5,204

Investment property

5

1,200,000

1,200,000

1,200,000

1,205,204

CURRENT ASSETS

Debtors

6

43,575

38,072

Cash at bank

129,856

150,057

173,431

188,129

CREDITORS

Amounts falling due within one year

7

51,004

50,220

NET CURRENT ASSETS

122,427

137,909

TOTAL ASSETS LESS CURRENT LIABILITIES

1,322,427

1,343,113

PROVISIONS FOR LIABILITIES

8

144,833

130,690

NET ASSETS

1,177,594

1,212,423

CAPITAL AND RESERVES

Called up share capital

9

20,000

20,000

Fair value reserve

10

939,411

939,411

Retained earnings

10

218,183

253,012

SHAREHOLDERS' FUNDS

1,177,594

1,212,423

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 4 December 2020 and were signed on its behalf by:

Miss A H Goodway - Director

1.	STATUTORY INFORMATION

Goodway (Properties) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rents receivable, excluding value added tax where applicable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2019

and 31 March 2020

22,710

7,063

29,773

DEPRECIATION

At 1 April 2019

17,506

7,063

24,569

Charge for year

5,204

-

5,204

At 31 March 2020

22,710

7,063

29,773

NET BOOK VALUE

At 31 March 2020

-

-

-

At 31 March 2019

5,204

-

5,204

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

and 31 March 2020

1,200,000

NET BOOK VALUE

At 31 March 2020

1,200,000

At 31 March 2019

1,200,000

Fair value at 31 March 2020 is represented by:

£

Valuation in 2019

1,069,121

Cost

130,879

1,200,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

20,174

26,212

Other debtors

6,785

3,530

Prepayments

16,616

8,330

43,575

38,072

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

1

-

Tax

932

17,851

Social security and other taxes

586

588

Net wages paid

1,115

1,114

Directors' current accounts

10

10

Deferred income

26,576

25,657

Accrued expenses

21,784

5,000

51,004

50,220

8.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

144,833

130,690

Deferred

tax

£

Balance at 1 April 2019

130,690

Provided during year

14,143

Balance at 31 March 2020

144,833

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

20,000

Ordinary

£1

20,000

20,000

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2019

253,012

939,411

1,192,423

Deficit for the year

(18,829

)

(18,829

)

Dividends

(16,000

)

(16,000

)

At 31 March 2020

218,183

939,411

1,157,594

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors, who own 100% of the share capital.