Goodkind Estates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03499894 (England and Wales)

GOODKIND ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs L Goodkind

Mr G C Goodkind

SECRETARY:

Mrs L Goodkind

REGISTERED OFFICE:

1 Brookmans Avenue

Brookmans Park

Hatfield

Hertfordshire

AL9 7QH

REGISTERED NUMBER:

03499894 (England and Wales)

ACCOUNTANTS:

P G ASSOCIATES

Accountants

1 Brookmans Avenue

Brookmans Park

Hatfield

Hertfordshire

AL9 7QH

FIXED ASSETS

Tangible assets

4

12,256

16,341

Investments

5

51

51

Investment property

6

8,396,632

8,396,632

8,408,939

8,413,024

CURRENT ASSETS

Debtors

7

2,568,775

2,620,793

Cash at bank

75,298

25,619

2,644,073

2,646,412

CREDITORS

Amounts falling due within one year

8

3,561,237

3,693,404

NET CURRENT LIABILITIES

(917,164

)

(1,046,992

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,491,775

7,366,032

CREDITORS

Amounts falling due after more than one year

9

168,300

157,300

NET ASSETS

7,323,475

7,208,732

CAPITAL AND RESERVES

Called up share capital

100

100

Non distributable reserves

3,611,803

3,611,803

Retained earnings

3,711,572

3,596,829

SHAREHOLDERS' FUNDS

7,323,475

7,208,732

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2022 and were signed on its behalf by:

Mrs L Goodkind - Director

1.	STATUTORY INFORMATION

Goodkind Estates 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 reducing balance

Fixtures and fittings

-

25% on reducing balance

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

the methods and significant assumptions used to ascertain the fair value at the balance sheet date and fair value movement included in the profit for the year are as follows:

Properties are valued by the directors of the company following detailed discussions with experienced professionals within the property sector. The last valuation occurred on the 31 March 2016 and it has not been thought necessary to make any further adjustment in the current year.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

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.

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.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2020

and 31 March 2021

33,394

31,912

65,306

DEPRECIATION

At 1 April 2020

22,653

26,312

48,965

Charge for year

2,685

1,400

4,085

At 31 March 2021

25,338

27,712

53,050

NET BOOK VALUE

At 31 March 2021

8,056

4,200

12,256

At 31 March 2020

10,741

5,600

16,341

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2020

and 31 March 2021

51

NET BOOK VALUE

At 31 March 2021

51

At 31 March 2020

51

On the 29 November 2013 the Company acquired one B Share in Property Financial Capital Limited for £50.00

On the 8 May 2015 the Company acquired 1 share in Woodchurch Limited (Being 100% of the issued Share Capital) for £1

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

and 31 March 2021

8,396,632

NET BOOK VALUE

At 31 March 2021

8,396,632

At 31 March 2020

8,396,632

The valuation was provided by the directors of the company following detailed discussions with experienced professionals within the property sector. They believe the revaluation is conservative and no adjustments are required in the year..

7.

DEBTORS

31.3.21

31.3.20

£

£

Amounts falling due within one year:

Other debtors

2,974

28,973

Deferred tax asset

722,361

722,361

Prepayments

7,855

8,246

733,190

759,580

Amounts falling due after more than one year:

Other debtors

1,835,585

1,861,213

Aggregate amounts

2,568,775

2,620,793

At the balance sheet date there was £1,835,585 (2020- £1,861,213) owing to Goodkind Estates from fWoodchurch Limited, a company who's issued share capital is owned 100% by Goodkind Estates. This amount is included in Debtors falling due after more than one year.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

2

1

Tax

29,230

25,940

Social security and other taxes

-

446

Other creditors

38,766

42,636

Directors' loan accounts

3,473,955

3,601,673

Deferred income

7,730

10,186

Accrued expenses

11,554

12,522

3,561,237

3,693,404

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans - 2-5 years

50,000

-

Other loans more 5yrs instal

118,300

157,300

168,300

157,300

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

118,300

157,300

During the year to 31st March 2017, £325,000 of the Deferred Consideration was transferred to the Goodkind Trust Account and this loan is repayable as and when funds are available with no agreed completion date. This loan is therefore shown as repayable after more than five years in Creditors falling due after more than one year. At the 31st March 2021 there was balance of £118,300 remaining.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The balance on the director's loan account at the 31 March 2021 was £3,473,955 (2020 - £3,601,673). The balance is repayable on demand as financial restraints allow. This is included in Creditors due within one year.

At the 31 March 2021 the company owed £16,034 (2020- £12,736) to The Goodkind Agency Limited. The company's directors have a material share interest in this company. These loans are interest free.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs L Goodkind and Mr G Goodkind.