Abbreviated Company Accounts - THE GOODRIDGE PARTNERSHIP

Abbreviated Company Accounts - THE GOODRIDGE PARTNERSHIP

THE GOODRIDGE PARTNERSHIP - Company Information

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Registered Number 08399901

THE GOODRIDGE PARTNERSHIP

Abbreviated Accounts

29 February 2016

THE GOODRIDGE PARTNERSHIP Registered Number 08399901

Abbreviated Balance Sheet as at 29 February 2016

Notes 2016 2015
£ £
Current assets
Debtors 9,269 5,867
Cash at bank and in hand 522 581
9,791 6,448
Creditors: amounts falling due within one year (9,791) (6,448)
Net current assets (liabilities) 0 0
Total assets less current liabilities 0 0
Total net assets (liabilities) 0 0
Reserves
Income and expenditure account 0 0
Members' funds 0 0
  • For the year ending 29 February 2016 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 directors acknowledge their 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 Board on 29 November 2016

And signed on their behalf by:
Joanna Goodridge, Director

THE GOODRIDGE PARTNERSHIP Registered Number 08399901

Notes to the Abbreviated Accounts for the period ended 29 February 2016

1Accounting Policies

Basis of measurement and preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Turnover policy
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Depreciation is provided after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Freehold buildings 2% on cost or revalued amounts, Plant and Machinery 15% on cost, Fixtures and fittings 20% on cost, Motor vehicles 25% on cost.

Intangible assets amortisation policy
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Valuation information and policy
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Other accounting policies
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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

Research and Development Expenditure on research and development is written off in the year in which it is incurred.

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. Deferred taxation is calculated at the rates of tax that are expected to apply in the periods when the timing differences will reverse and has not been discounted.

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital.