Goodway (Properties) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 00802515 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Goodway (Properties) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

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

2

137,540

115,492

CURRENT ASSETS

Debtors

17,559

18,698

Cash at bank

95,199

114,092

112,758

132,790

CREDITORS

Amounts falling due within one year

45,126

27,192

NET CURRENT ASSETS

67,632

105,598

TOTAL ASSETS LESS CURRENT
LIABILITIES

205,172

221,090

PROVISIONS FOR LIABILITIES

4,430

2,927

NET ASSETS

200,742

218,163

CAPITAL AND RESERVES

Called up share capital

3

20,000

Profit and loss account

180,742

198,163

SHAREHOLDERS' FUNDS

200,742

218,163

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 2 November 2016 and were signed on
its behalf by:

Miss A H Goodway - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

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

Deferred tax

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

the balance sheet date.

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are

accounted for in accordance with SSAP 19.

No depreciation is provided in respect of investment properties.

This treatment as regards the company's investment properties may be a departure from the

requirements of the Companies Act concerning the depreciation of fixed assets. However, these

properties are not held for consumption but for investment an the directors consider that systematic

annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for

the financial statements to give a true and fair view. Depreciation or amortisation is only one of many

factors reflected in the annual valuation and the amount which might otherwise have been shown

cannot be separately identified or quantified.

The properties are stated at cost since in the opinion of the directors they have a value in excess of

cost but in the present economic conditions a valuation at current market value will serve no useful

purpose.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

122,366

Additions

22,710

At 31 March 2016

145,076

DEPRECIATION

At 1 April 2015

6,874

Charge for year

662

At 31 March 2016

7,536

NET BOOK VALUE

At 31 March 2016

137,540

At 31 March 2015

115,492

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

20,000

Ordinary

£1

20,000

4.	ULTIMATE CONTROLLING PARTY

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