Findley & Son (Cooden) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06549106 (England and Wales)

FINDLEY & SON (COODEN) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2019

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

K B Findley

Mrs M E Findley

SECRETARY:

K B Findley

REGISTERED OFFICE:

215 Cooden Sea Road

Cooden

BEXHILL-ON-SEA

East Sussex

TN39 4TT

REGISTERED NUMBER:

06549106 (England and Wales)

ACCOUNTANTS:

Gibbons Mannington & Phipps LLP

Chartered Accountants

20 Eversley Road

Bexhill-on-Sea

East Sussex

TN40 1HE

FIXED ASSETS

Intangible assets

4

-

31,250

Tangible assets

5

70,124

74,228

70,124

105,478

CURRENT ASSETS

Debtors

6

33,600

645

Cash at bank

4,961

72,870

38,561

73,515

CREDITORS

Amounts falling due within one year

7

37,360

124,284

NET CURRENT ASSETS/(LIABILITIES)

1,201

(50,769

)

TOTAL ASSETS LESS CURRENT LIABILITIES

71,325

54,709

PROVISIONS FOR LIABILITIES

-

507

NET ASSETS

71,325

54,202

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

71,225

54,102

SHAREHOLDERS' FUNDS

71,325

54,202

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

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 6th December 2019 and were signed on its behalf by:

K B Findley - Director

1.	STATUTORY INFORMATION

Findley & Son (Cooden) 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.

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 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Freehold property

-

2% on cost

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2018

62,500

Disposals

(62,500

)

At 31st March 2019

-

AMORTISATION

At 1st April 2018

31,250

Eliminated on disposal

(31,250

)

At 31st March 2019

-

NET BOOK VALUE

At 31st March 2019

-

At 31st March 2018

31,250

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1st April 2018

74,623

7,417

5,259

87,299

Disposals

-

(7,417

)

(5,259

)

(12,676

)

At 31st March 2019

74,623

-

-

74,623

DEPRECIATION

At 1st April 2018

3,007

4,982

5,082

13,071

Charge for year

1,492

-

-

1,492

Eliminated on disposal

-

(4,982

)

(5,082

)

(10,064

)

At 31st March 2019

4,499

-

-

4,499

NET BOOK VALUE

At 31st March 2019

70,124

-

-

70,124

At 31st March 2018

71,616

2,435

177

74,228

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

33,600

-

Prepayments

-

645

33,600

645

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Tax

8,612

8,834

VAT

-

5,035

Monies held for clients

-

28,292

Directors' current accounts

27,098

75,193

Accrued expenses

1,650

6,930

37,360

124,284

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100