Company Registration No. 01209272 (England and Wales)
GARFORTH AND GOODMAN LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2015
GARFORTH AND GOODMAN LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
GARFORTH AND GOODMAN LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
135,351
218,561
Current assets
Stocks
65,750
51,500
Debtors
134,682
108,884
Cash at bank and in hand
13,752
37,478
214,184
197,862
Creditors: amounts falling due within one year
(144,485)
(221,059)
Net current assets/(liabilities)
69,699
(23,197)
Total assets less current liabilities
205,050
195,364
Provisions for liabilities
(20,654)
(24,425)
184,396
170,939
Capital and reserves
Called up share capital
3
4,500
4,500
Profit and loss account
179,896
166,439
Shareholders' funds
184,396
170,939
For the financial year ended 31 May 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 3 November 2015
Mr B. J. Goodman
Director
Company Registration No. 01209272
GARFORTH AND GOODMAN LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents net invoiced sales of goods, excluding value added tax..
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
- 15% on reducing balance
Computer equipment
- 25% on cost
Fixtures, fittings & equipment
- 15% on reducing balance
Motor vehicles
- 25% on reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2014
662,061
Additions
34,133
Disposals
(226,241)
At 31 May 2015
469,662
Depreciation
At 1 June 2014
443,500
On disposals
(129,064)
Charge for the year
19,875
At 31 May 2015
334,311
Net book value
At 31 May 2015
135,351
At 31 May 2014
218,561
GARFORTH AND GOODMAN LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
4,500 Ordinary of £1 each
4,500
4,500
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