ACCOUNTS - Final Accounts

RICHARD GOODWIN LTD - Company Information

Registered number:09154979

RICHARD GOODWIN LTD

UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019


RICHARD GOODWIN LTD

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 6


RICHARD GOODWIN LTD REGISTERED NUMBER:09154979

STATEMENT OF FINANCIAL POSITION

AS AT 31 JULY 2019

		2019		2018
Note		£		£

Fixed assets
Tangible assets	4		2,508		1,657
Current assets
Debtors: amounts falling due within one year	5	110,304		11,925
Cash at bank and in hand		308,160		255,163
		418,464		267,088
Creditors: amounts falling due within one year	6	(234,200)		(131,128)
Net current assets			184,264		135,960
Total assets less current liabilities			186,772		137,617

Net assets			186,772		137,617

Capital and reserves
Called up share capital	7	2	2
Profit and loss account		186,770	137,615
		186,772	137,617

Page 1


RICHARD GOODWIN LTD REGISTERED NUMBER:09154979

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 JULY 2019

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

R Goodwin

Director

Date: 30 April 2020

The notes on pages 3 to 6 form part of these financial statements.

Page 2


RICHARD GOODWIN LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

1.	General information

Richard Goodwin Limited is a limited liability company registered in England and Wales with its registered office at 24 Browning Road,Harpenden, Herts, United Kingdom, AL5 4TR.

The principal activity of the company is that of film production.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied
during the period, exclusive of Value Added Tax and trade discounts.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment

25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

Page 3


RICHARD GOODWIN LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

2.Accounting policies (continued)

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

2.6

Creditors

Short term creditors are measured at the transaction price.

2.7

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.9

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 2 (2018 - 2).

Page 4


RICHARD GOODWIN LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 August 2018	2,562
	Additions	1,687
	At 31 July 2019	4,249
	Depreciation
	At 1 August 2018	905
	Charge for the year on owned assets	836
	At 31 July 2019	1,741
	Net book value
	At 31 July 2019	2,508
	At 31 July 2018	1,657

Debtors

					2019	2018
					£	£


Trade debtors	101,685	11,925
Prepayments and accrued income	8,619	-
	110,304	11,925

Page 5


RICHARD GOODWIN LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

6.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Other taxation and social security	58,100	50,670
Other creditors	162,486	60,132
Accruals and deferred income	13,614	20,326
	234,200	131,128

7.	Share capital
		2019	2018
		£	£

Allotted, called up and fully paid

2 (2018 - 2) Ordinary shares of £1 each	2	2

Page 6