Goodwill Projects Limited - Period Ending 2015-11-30

Registration number: 07654560

Goodwill Projects Limited Unaudited Abbreviated Accounts for the Year Ended 30 November 2015

A Wood and Co LLP
Chartered Accountants
18-20 Moorland Road
Burslem
Stoke-on-Trent
Staffordshire
ST6 1DW

Goodwill Projects Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Goodwill Projects Limited
(Registration number: 07654560)
Abbreviated Balance Sheet at 30 November 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					-			13,727
Current assets
Stocks					-			258,469
Debtors					-			125,519
Cash at bank and in hand					-			78
					-			384,066
Creditors: Amounts falling due within one year					(849,184)			(1,004,458)
Net current liabilities					(849,184)			(620,392)
Net liabilities					(849,184)			(606,665)
Capital and reserves
Called up share capital		3			200			200
Share premium account					9,930			9,930
Profit and loss account					(859,314)			(616,795)
Shareholders' deficit					(849,184)			(606,665)

For the year ending 30 November 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 10 August 2016

.........................................
D J I List
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Goodwill Projects Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.The company ceased to trade on 7 October 2015.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% on reducing balance
Motor vehicles	25% on reducing balance
Office equipment	20% on reducing balance

Deferred tax

Deferred tax, is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing difference are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Goodwill Projects Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2014		21,983			21,983
Disposals		(21,983)			(21,983)
At 30 November 2015		-			-
Depreciation
At 1 December 2014		8,256			8,256
Eliminated on disposals		(8,256)			(8,256)
At 30 November 2015		-			-
Net book value
At 30 November 2015		-			-
At 30 November 2014		13,727			13,727

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		200			200			200			200

4	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
D J I List
Directors loan	59,398	-	62,927	-
R O D Forkan
Directors loan	13,154	-	12,680	-
P Forkan
Directors laon	13,224	-	13,371	-

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