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

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Goodway (Properties) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

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

4

136,601

131,862

CURRENT ASSETS

Debtors

5

18,909

14,940

Cash at bank

142,869

123,137

161,778

138,077

CREDITORS

Amounts falling due within one year

6

41,256

36,533

NET CURRENT ASSETS

120,522

101,544

TOTAL ASSETS LESS CURRENT LIABILITIES

257,123

233,406

PROVISIONS FOR LIABILITIES

7

2,057

3,298

NET ASSETS

255,066

230,108

CAPITAL AND RESERVES

Called up share capital

8

20,000

20,000

Retained earnings

235,066

210,108

SHAREHOLDERS' FUNDS

255,066

230,108

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 29 November 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2017

115,303

22,710

7,063

145,076

Additions

10,416

-

-

10,416

At 31 March 2018

125,719

22,710

7,063

155,492

DEPRECIATION

At 1 April 2017

-

6,151

7,063

13,214

Charge for year

-

5,677

-

5,677

At 31 March 2018

-

11,828

7,063

18,891

NET BOOK VALUE

At 31 March 2018

125,719

10,882

-

136,601

At 31 March 2017

115,303

16,559

-

131,862

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

10,755

9,204

Other debtors

5,736

5,736

Prepayments

2,418

-

18,909

14,940

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

-

1

Tax

10,433

8,701

Social security and other taxes

594

237

Net wages paid

1,113

47

Directors' current accounts

10

10

Deferred income

24,106

22,537

Accrued expenses

5,000

5,000

41,256

36,533

7.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

2,057

3,298

Deferred

tax

£

Balance at 1 April 2017

3,298

Credit to Income Statement during year

(1,241

)

Balance at 31 March 2018

2,057

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

20,000

Ordinary

£1

20,000

20,000

9.	ULTIMATE CONTROLLING PARTY

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