F Goddard & Sons Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04367580 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2017

for

F GODDARD & SONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R P Goddard

R Goddard

SECRETARY:

R P Goddard

REGISTERED OFFICE:

Telecom House

125-135 Preston Road

Brighton

East Sussex

BN1 6AF

REGISTERED NUMBER:

04367580 (England and Wales)

ACCOUNTANTS:

McPhersons Walpole Harding

Chartered Certified Accountants

Telecom House

125-135 Preston Road

Brighton

East Sussex

BN1 6AF

FIXED ASSETS

Tangible assets

4

6,323

7,338

CURRENT ASSETS

Stocks

17,500

18,849

Debtors

5

34,759

37,695

Cash at bank and in hand

32,427

8,344

84,686

64,888

CREDITORS

Amounts falling due within one year

6

(81,118

)

(62,344

)

NET CURRENT ASSETS

3,568

2,544

TOTAL ASSETS LESS CURRENT LIABILITIES

9,891

9,882

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

9,789

9,780

9,891

9,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 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 30 November 2017 and were signed on its behalf by:

R P Goddard - Director

R Goddard - Director

1.	STATUTORY INFORMATION

F Goddard & Sons Limited is a private company, limited by shares , registered in England and Wales. 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.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

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

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2016

70,962

Additions

670

At 28 February 2017

71,632

DEPRECIATION

At 1 March 2016

63,624

Charge for year

1,685

At 28 February 2017

65,309

NET BOOK VALUE

At 28 February 2017

6,323

At 29 February 2016

7,338

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

as restated

£

£

Trade debtors

32,527

37,695

Other debtors

2,232

-

34,759

37,695

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

as restated

£

£

Trade creditors

48,038

30,921

Taxation and social security

25,167

29,771

Other creditors

7,913

1,652

81,118

62,344

7.	ULTIMATE CONTROLLING PARTY

The company's two directors each control 50% of the votes at company meetings.

8.	FIRST YEAR ADOPTION

These financial statements are the first prepared under Financial Reporting Standard 102, The Financial

Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 from the

previously extant UK GAAP is therefore 1 March 2015.

No accounting adjustments were necessary on the transition from the previously extant UK GAAP to Financial

Reporting Standard 102.