Godfrey and Lappage Services Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03858926

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

GODFREY AND LAPPAGE SERVICES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Godfrey

M Lappage

REGISTERED OFFICE:

115b Drysdale Street

Hoxton

London

N1 6ND

REGISTERED NUMBER:

03858926

ACCOUNTANTS:

P J Marks and Co. Ltd

Chartered Certified Accountants

115b Drysdale Street

Hoxton

London

N1 6ND

FIXED ASSETS

Tangible assets

4

27,104

36,053

CURRENT ASSETS

Stocks

85,000

83,000

Debtors

5

278,511

320,093

Cash at bank and in hand

(1,502

)

93,803

362,009

496,896

CREDITORS

Amounts falling due within one year

6

411,821

439,214

NET CURRENT (LIABILITIES)/ASSETS

(49,812

)

57,682

TOTAL ASSETS LESS CURRENT LIABILITIES

(22,708

)

93,735

CREDITORS

Amounts falling due after more than one year

7

3,024

5,997

NET (LIABILITIES)/ASSETS

(25,732

)

87,738

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

(30,732

)

82,738

SHAREHOLDERS' FUNDS

(25,732

)

87,738

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 23 June 2017 and were signed on its behalf by:

A Godfrey - Director

M Lappage - Director

1.	STATUTORY INFORMATION

Godfrey and Lappage Services Ltd is a private company, limited by shares , registered in Not specified/Other.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2016

17,720

29,201

42,970

89,891

Additions

2,004

443

-

2,447

At 31 December 2016

19,724

29,644

42,970

92,338

DEPRECIATION

At 1 January 2016

9,915

10,648

33,275

53,838

Charge for year

2,452

3,799

5,145

11,396

At 31 December 2016

12,367

14,447

38,420

65,234

NET BOOK VALUE

At 31 December 2016

7,357

15,197

4,550

27,104

At 31 December 2015

7,805

18,553

9,695

36,053

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2016

and 31 December 2016

20,580

DEPRECIATION

At 1 January 2016

and 31 December 2016

10,885

NET BOOK VALUE

At 31 December 2016

9,695

At 31 December 2015

9,695

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

223,298

264,605

Other debtors

55,213

55,488

278,511

320,093

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

12,585

-

Hire purchase contracts

2,973

4,023

Trade creditors

165,398

123,938

Taxation and social security

185,261

187,214

Other creditors

45,604

124,039

411,821

439,214

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Hire purchase contracts

3,024

5,997