S M Goodchild Limited - Period Ending 2016-04-30

Registration number: 1151973

S M Goodchild Limited

Abbreviated Accounts

for the Year Ended 30 April 2016
 

787878787
S M Goodchild Limited
Registration number: 1151973
Abbreviated Balance Sheet at 30 April 2016

		Note			2016						2015
	£			£			£			£
Fixed assets
Tangible fixed assets		2						76,340						85,382
Current assets
Stocks					2,421						2,362
Debtors					56,495						83,553
Cash at bank and in hand					363,005						266,156
					421,921						352,071
Creditors: Amounts falling due within one year		3			(192,129)						(239,208)
Net current assets								229,792						112,863
Total assets less current liabilities								306,132						198,245
Creditors: Amounts falling due after more than one year								-						(786)
Provisions for liabilities								(12,624)						(14,202)
Net assets								293,508						183,257
Capital and reserves
Called up share capital		4			20,000						20,000
Profit and loss account					273,508						163,257
Shareholders' funds								293,508						183,257

For the year ending 30 April 2016 the company was entitled to exemption from audit 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board on 31 January 2017 and signed on its behalf by:

Mr S C Goodchild
Director

The notes on pages 2 to 4 form an integral part of these financial statements.

787878787
S M Goodchild Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016

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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, 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
Motor vehicles	25% per annum on written down value
Plant and machinery	15% per annum on written down value

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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 differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

The notes on pages 2 to 4 form an integral part of these financial statements.

787878787
S M Goodchild Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2015		217,279			217,279
Additions		6,422			6,422
At 30 April 2016		223,701			223,701
Amortisation
At 1 May 2015		131,897			131,897
Charge for the year		15,464			15,464
At 30 April 2016		147,361			147,361
Net book value
At 30 April 2016		76,340			76,340
At 30 April 2015		85,382			85,382

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		786			8,908
Amounts falling due after more than one year		-			786
Total secured creditors		786			9,694

The notes on pages 2 to 4 form an integral part of these financial statements.

787878787
S M Goodchild Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		20,000			20,000			20,000			20,000

The notes on pages 2 to 4 form an integral part of these financial statements.