Goddards Brewery Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02338202 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

GODDARDS BREWERY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

Mr A H Goddard

Mrs A O Goddard

Miss J M Goddard

Mr R C Harvey

REGISTERED OFFICE:

Barnsley Farm

Bullen Road

Ryde

Isle of Wight

PO33 1QF

REGISTERED NUMBER:

02338202 (England and Wales)

ACCOUNTANTS:

Garbetts (IOW) Limited

Exchange House

St Cross Lane

Newport

Isle of Wight

PO30 5BZ

FIXED ASSETS

Tangible assets

2

69,210

81,854

CURRENT ASSETS

Stocks

57,602

87,107

Debtors

259,673

259,586

Cash at bank and in hand

19,517

36,283

336,792

382,976

CREDITORS

Amounts falling due within one year

229,239

246,336

NET CURRENT ASSETS

107,553

136,640

TOTAL ASSETS LESS CURRENT LIABILITIES

176,763

218,494

PROVISIONS FOR LIABILITIES

-

16,371

NET ASSETS

176,763

202,123

CAPITAL AND RESERVES

Called up share capital

3

900,000

Profit and loss account

(723,237

)

(697,877

)

SHAREHOLDERS' FUNDS

176,763

202,123

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 6 May 2016 and were signed on its behalf by:

Mr A H Goddard - Director

1.	ACCOUNTING POLICIES

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 January 2015).

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.

Land and buildings

-

10% on cost

Plant and machinery etc

-

25% on reducing balance, 20% on cost and at variable rates 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.

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.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

425,619

Additions

4,065

At 31 December 2015

429,684

DEPRECIATION

At 1 January 2015

343,765

Charge for year

16,709

At 31 December 2015

360,474

NET BOOK VALUE

At 31 December 2015

69,210

At 31 December 2014

81,854

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

150,000

Ordinary

£1

150,000

750,000

2% Preference

£1

750,000

900,000

4.	ULTIMATE PARENT COMPANY

RP157 Ltd is regarded by the directors as being the company's ultimate parent company.

5.	GOING CONCERN

The company has incurred significant trading losses over last few years, but still has net current assets.

Additionally amounts owing to the directors comprise the majority of liabilities and the directors have

undertaken not to require repayments of amounts owed to them by the company, should this be considered

prejudicial to the company's financial position.

On the above basis the company is considered to be a going concern, and the accounts have been prepared on

this basis.