The Goodwill Company Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04070363 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30th September 2016

for

The Goodwill Company Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Miss F Taylor

M Funes-Gallanzi

SECRETARY:

Miss F Taylor

REGISTERED OFFICE:

29 Old Farm Road

Guildford

Surrey

GU1 1QN

REGISTERED NUMBER:

04070363 (England and Wales)

ACCOUNTANTS:

Whiteleys

Chartered Certified Accountants

Sovereign House

155 High Street

Aldershot

Hampshire

GU11 1TT

FIXED ASSETS

Tangible assets

2

2,456

4,897

CURRENT ASSETS

Debtors

2,904

708

Cash at bank

5

34,010

2,909

34,718

CREDITORS

Amounts falling due within one year

24,916

42,173

NET CURRENT LIABILITIES

(22,007

)

(7,455

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(19,551

)

(2,558

)

CAPITAL AND RESERVES

Called up share capital

3

50,000

50,000

Share premium

100

100

Profit and loss account

(69,651

)

(52,658

)

SHAREHOLDERS' FUNDS

(19,551

)

(2,558

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2016 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 30th June 2017 and were signed on its behalf by:

M Funes-Gallanzi - 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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company

qualifies as a small company.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of

service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Office equipment

-

25% on reducing balance

Research and development

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

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either 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.

Going concern

The financial statements have been prepared on a going concern basis. This basis assumes that the

company will be able to continue to trade for the foreseeable future, and the directors have confirmed

their support to the company for this purpose.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st October 2015

and 30th September 2016

11,226

DEPRECIATION

At 1st October 2015

6,329

Charge for year

2,441

At 30th September 2016

8,770

NET BOOK VALUE

At 30th September 2016

2,456

At 30th September 2015

4,897

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

50,000

Ordinary

1.00

50,000

50,000

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES