Goodbrews Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 08810756 (England and Wales)

Abbreviated Unaudited Accounts

for the period

11 December 2013 to 31 December 2014

for

Goodbrews Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A M Dickson

K S Smallwood

REGISTERED OFFICE:

Gateshead Interchange

West Street

Gateshead

Tyne and Wear

NE8 1BH

REGISTERED NUMBER:

08810756 (England and Wales)

ACCOUNTANTS:

TTR Barnes Limited

Chartered Accountants

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

FIXED ASSETS

Tangible assets

2

14,268

CURRENT ASSETS

Stocks

575

Debtors

4,554

Cash at bank and in hand

2,218

7,347

CREDITORS

Amounts falling due within one year

26,318

NET CURRENT LIABILITIES

(18,971

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,703

)

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

(4,705

)

SHAREHOLDERS' FUNDS

(4,703

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 June 2015 and were signed on its behalf by:

A M Dickson - Director

K S Smallwood - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on the going concern basis, which assumes that the company will continue in operational

existence for the foreseeable future, which the directors consider appropriate.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small

company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Equipment

-

20% on reducing balance

Fixtures and fittings

-

20% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it

can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the

underlying timing differences can be deducted.

Deferred tax is measured on a non-discounted basis at the average rates that are expected to apply in the periods in which the

timing differences are expected to reverse, based on the tax rates and laws that have been enacted or substantively enacted by

the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

15,888

At 31 December 2014

15,888

DEPRECIATION

Charge for period

1,620

At 31 December 2014

1,620

NET BOOK VALUE

At 31 December 2014

14,268

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

2

Ordinary

£1

2