A.d. Goddard Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08339273 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

A.d. Goddard Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Stobbart

REGISTERED OFFICE:

34 Longmeadows

East Herrington

Sunderland

Tyne and Wear

SR3 3SB

REGISTERED NUMBER:

08339273 (England and Wales)

ACCOUNTANT:

Brian Thurlbeck

Chartered Accountant

33 Beechwood Terrace

Sunderland

SR2 7LY

FIXED ASSETS

Tangible assets

3

8,338

8,077

Investments

4

293,713

300,333

302,051

308,410

CURRENT ASSETS

Stocks

5

11,760

11,480

Debtors

6

9,716

8,907

Cash at bank

27

417

21,503

20,804

CREDITORS

Amounts falling due within one year

7

37,463

31,794

NET CURRENT LIABILITIES

(15,960

)

(10,990

)

TOTAL ASSETS LESS CURRENT LIABILITIES

286,091

297,420

CREDITORS

Amounts falling due after more than one year

8

328,052

330,699

NET LIABILITIES

(41,961

)

(33,279

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(42,061

)

(33,379

)

SHAREHOLDERS' FUNDS

(41,961

)

(33,279

)

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 director acknowledges his 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 director on 27 September 2019 and were signed by:

R Stobbart - Director

1.	STATUTORY INFORMATION

A.d. Goddard Ltd. 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.

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.

Production samples & demos

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Intellectual property

This is written off in equal annual instalments over a period of 50 years from the date of acquisition.

3.	TANGIBLE FIXED ASSETS

Production

Fixtures

samples &

and

Computer

demos

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2018

7,200

4,000

2,430

13,630

Additions

2,280

-

-

2,280

At 31 December 2018

9,480

4,000

2,430

15,910

DEPRECIATION

At 1 January 2018

1,080

2,813

1,660

5,553

Charge for year

1,530

297

192

2,019

At 31 December 2018

2,610

3,110

1,852

7,572

NET BOOK VALUE

At 31 December 2018

6,870

890

578

8,338

At 31 December 2017

6,120

1,187

770

8,077

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2018

and 31 December 2018

331,000

PROVISIONS

At 1 January 2018

30,667

Provision for year

6,620

At 31 December 2018

37,287

NET BOOK VALUE

At 31 December 2018

293,713

At 31 December 2017

300,333

The investment refers to intellectual property acquired from an unconnected party.

5.

STOCKS

2018

2017

£

£

Stocks

11,760

11,480

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

2,779

682

Amounts recoverable on contract

5,645

6,885

VAT

1,292

1,340

9,716

8,907

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed to associates

36,741

30,788

Directors' current accounts

149

149

Accrued expenses

573

857

37,463

31,794

The amounts due to an associate company includes amounts due to 4earth Solutions (Uk) Ltd and Raycoast Ltd.

Both companies are controlled by Mr Stobbart, a director of A.d. Goddard Ltd.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Amounts owed to group undertakings

328,052

330,699

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Karol Property Company Ltd

300,475

300,475

The loan is subject to an unlimited debenture over the assets of the company in respect of the loan from that

company and of the third party loan to Karol Property Company Limited.

10.	SECURED DEBTS

A loan of £300,475 (2017 - £300,475) is included in the amount outstanding to the parent company of

Ad.Goddard Limited, (Karol Property Company Limited), a company registered in England. The loan is subject

to an unlimited debenture over the assets of the company in respect of that loan and of a third party loan to Karol

Property Company Limited.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is R Stobbart.

The ultimate controlling party is R Stobbart.