N & I Goodwin Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08125754 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2021

for

N & I Goodwin Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N B Goodwin

I C Goodwin

REGISTERED OFFICE:

Cherry Tree Court

Cross Street

Leek

Staffordshire

ST13 6BL

REGISTERED NUMBER:

08125754 (England and Wales)

ACCOUNTANTS:

Bennett Brooks (Leek) Ltd

T/A Fearns Marriott

Cherry Tree Court

Cross Street

Leek

Staffordshire

ST13 6BL

FIXED ASSETS

Tangible assets

4

2,045

3,818

CURRENT ASSETS

Stocks

300

300

Debtors

5

3,623

6,068

Cash at bank

53,967

56,538

57,890

62,906

CREDITORS

Amounts falling due within one year

6

(30,840

)

(29,326

)

NET CURRENT ASSETS

27,050

33,580

TOTAL ASSETS LESS CURRENT LIABILITIES

29,095

37,398

CREDITORS

Amounts falling due after more than one year

7

(16,960

)

(20,000

)

PROVISIONS FOR LIABILITIES

(390

)

(750

)

NET ASSETS

11,745

16,648

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

11,743

16,646

SHAREHOLDERS' FUNDS

11,745

16,648

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2021 and were signed on its behalf by:

N B Goodwin - Director

1.	STATUTORY INFORMATION

N & I Goodwin 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.

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

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 Statement of Income and Retained Earnings, 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.

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 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 July 2020

3,566

24,450

28,016

Additions

1,697

-

1,697

At 30 June 2021

5,263

24,450

29,713

DEPRECIATION

At 1 July 2020

2,748

21,450

24,198

Charge for year

470

3,000

3,470

At 30 June 2021

3,218

24,450

27,668

NET BOOK VALUE

At 30 June 2021

2,045

-

2,045

At 30 June 2020

818

3,000

3,818

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

1,331

3,791

Other debtors

2,292

2,277

3,623

6,068

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

3,040

-

Hire purchase contracts

-

297

Trade creditors

2,875

2,178

Taxation and social security

20,150

22,232

Other creditors

4,775

4,619

30,840

29,326

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans

16,960

20,000