Goodbrews Limited - Accounts to registrar (filleted) - small 18.2

Goodbrews Limited - Accounts to registrar (filleted) - small 18.2

GOODBREWS LIMITED - Company Information

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REGISTERED NUMBER: 08810756 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2018

for

Goodbrews Limited
Goodbrews Limited (Registered number: 08810756)






Contents of the Financial Statements
for the year ended 31 December 2018




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Goodbrews Limited

Company Information
for the year ended 31 December 2018







DIRECTORS: A M Dickson
K S Smallwood





REGISTERED OFFICE: Gateshead Interchange
West Street
Gateshead
Tyne and Wear
NE8 1BH





REGISTERED NUMBER: 08810756 (England and Wales)





ACCOUNTANTS: TTR Barnes Limited
Chartered Accountants
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG
Page 1
Goodbrews Limited (Registered number: 08810756)

Statement of Financial Position
31 December 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,535 10,224

CURRENT ASSETS
Stocks 5 900 650
Debtors 6 2,292 8,256
Cash at bank and in hand 16,348 16,258
19,540 25,164
CREDITORS
Amounts falling due within one year 7 25,954 30,676
NET CURRENT LIABILITIES (6,414 ) (5,512 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,121
4,712

PROVISIONS FOR LIABILITIES 1,622 1,731
NET ASSETS 499 2,981

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 497 2,979
SHAREHOLDERS' FUNDS 499 2,981

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 notes form part of these financial statements

Page 2 continued...
Goodbrews Limited (Registered number: 08810756)

Statement of Financial Position - continued
31 December 2018


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 13 May 2019 and were signed on its behalf by:




A M Dickson - Director



K S Smallwood - Director


The notes form part of these financial statements

Page 3
Goodbrews Limited (Registered number: 08810756)

Notes to the Financial Statements
for the year ended 31 December 2018

1. STATUTORY INFORMATION

Goodbrews 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.

The accounts have been prepared on the going concern basis, which assumes that the company will continue in
operational existence for the foreseeable future, which the directors consider appropriate.

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.
Equipment - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowances for perishable items.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their
settlement value.

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Page 4 continued...
Goodbrews Limited (Registered number: 08810756)

Notes to the Financial Statements - continued
for the year ended 31 December 2018

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
Equipment fittings Totals
£    £    £   
COST
At 1 January 2018 17,041 3,230 20,271
Additions 369 - 369
At 31 December 2018 17,410 3,230 20,640
DEPRECIATION
At 1 January 2018 8,420 1,627 10,047
Charge for year 1,737 321 2,058
At 31 December 2018 10,157 1,948 12,105
NET BOOK VALUE
At 31 December 2018 7,253 1,282 8,535
At 31 December 2017 8,621 1,603 10,224

5. STOCKS
2018 2017
£    £   
Stocks 900 650

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other debtors 1,500 7,500
Prepayments 792 756
2,292 8,256

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Tax 219 2
Social security and other taxes 1,258 120
Other creditors 4,000 -
Directors' current accounts 20,436 30,554
Accrued expenses 41 -
25,954 30,676

Page 5 continued...
Goodbrews Limited (Registered number: 08810756)

Notes to the Financial Statements - continued
for the year ended 31 December 2018

8. CONTROL

The controlling party is A M Dickson and K S Smallwood.

Page 6