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

REGISTERED NUMBER: 02715493 (England and Wales)

Unaudited Financial Statements

For The Year Ended

31 May 2019

for

GOLDMANS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

6

DIRECTORS:

J D Whyatt

R Whyatt

SECRETARY:

R A Whyatt

REGISTERED OFFICE:

8 Eastway

Sale

Cheshire

M33 4DX

REGISTERED NUMBER:

02715493 (England and Wales)

ACCOUNTANTS:

Leavitt Walmsley Associates Limited

Chartered Certified Accountants

8 Eastway

Sale

Cheshire

M33 4DX

BANKERS:

Barclays Bank plc

Altrincham Business Centre

63 Stamford New Road

Altrincham

Cheshire

WA14 1DR

FIXED ASSETS

Tangible assets

4

3,884

5,311

CURRENT ASSETS

Stocks

2,680

-

Debtors

-

3,216

Cash at bank

32,908

28,222

35,588

31,438

CREDITORS

Amounts falling due within one year

32,759

31,855

NET CURRENT ASSETS/(LIABILITIES)

2,829

(417

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,713

4,894

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

6,613

4,794

SHAREHOLDERS' FUNDS

6,713

4,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors on 2 December 2019 and were signed on its behalf by:

J D Whyatt - Director

1.	STATUTORY INFORMATION

Goldmans 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 presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of FRS 102 "The Financial

Reporting Standard applicable in the UK and Republic of Ireland" including Section 1A "Small Entities" and the

Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

The company's policy of revenue recognition is to recognise a sale when the contractual obligations to the

customer have been fulfilled. For contracts where obligations to the customer have not been fulfilled, but have

been invoiced the sale is recognised within deferred income in current liabilities until such time a right to

consideration arises.

The total turnover of the company for the year has been derived from its principal activity wholly undertaken with

the United Kingdom.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Cost includes costs which are directly attributable in bringing the asset to its location and condition so that it is

capable of operating in the manner intended by management.

Profits and losses on the disposal of fixed assets are included in the calculation of profit for the year.

The directors assess the company's tangible assets for evidence of impairment at each reporting date. Where

there are indicators of impairment, the directors calculate recoverable amount of the asset(s) and compare this

with the carrying amount. If recoverable amount is lower than carrying amount, the asset is written down to

recoverable amount by way of an impairment loss which is recognised in profit or loss for the year. Impairment

losses are reversed when there is evidence that the reasons giving rise to the original impairment loss have

ceased to apply. Impairment losses are reversed through profit and loss, but only to the extent that the reversal

does not increase the carrying amount of the asset to the amount which would have been stated, net of

depreciation, had no impairment loss been recognised.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes

all costs of purchase, freight, irrecoverable taxes and costs of conversion and other directly attributable costs

which are incurred by the entity in bringing the stock to its present location and condition. The cost methodology

employed by the entity is the first-in first-out method.

Financial instruments

A financial asset or financial liability is recognised only when the entity becomes a party to the contractual

provisions of the instrument.

Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the

effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their

fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through

profit or loss. All other investments are subsequently measured at cost less impairment.

Debtors and creditors which fall due within one year are recorded in the financial statements at transaction price

and subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are

measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting

date and any impairments are recorded in profit or loss and shown within administrative expenses when there is

objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the

customer is unable to settle amounts owing to the company or the customer becomes bankrupt.

Debtors do not carry interest and are stated at their nominal value.

Trade creditors are not interest-bearing and are stated at their nominal value.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of

impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is

recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial

assets that are individually significant, are assessed individually for impairment. Other financial assets are either

assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not

result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had

the impairment loss not previously been recognised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account,

except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for

the employee's services to the company. Where employees have accrued short-term benefits which the entity

has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one

year with an associated expense in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2018

14,077

Additions

2,135

Disposals

(5,524

)

At 31 May 2019

10,688

DEPRECIATION

At 1 June 2018

8,766

Charge for year

3,562

Eliminated on disposal

(5,524

)

At 31 May 2019

6,804

NET BOOK VALUE

At 31 May 2019

3,884

At 31 May 2018

5,311

5.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.5.19

31.5.18

£

£

Within one year

1,221

1,221

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the director(s) received advances of £97,020 and credits of £97,058. The advances are

interest-free and are repayable on demand.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Goldmans Limited for the year ended 31 May 2019 which comprise the Profit and Loss account,

Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records

and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Goldmans Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Goldmans Limited and state those matters that we have agreed to state to the Board of Directors of Goldmans Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Goldmans Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Goldmans Limited. You consider that Goldmans Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Goldmans Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Leavitt Walmsley Associates Limited

Chartered Certified Accountants

8 Eastway

Sale

Cheshire

M33 4DX

Date: .............................................