Goodscope Limited - Period Ending 2017-09-30

Registration number: 05539840

Goodscope Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2017

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

Goodscope Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Financial Statements	4 to 5

Goodscope Limited

Company Information

Directors

Mrs C Taylor Mr C Taylor

Registered office

12 Reeds Close Reedsholme Rossendale Lancashire BB4 8ND

Accountants

Hargreaves Brown & Benson Chartered Accountants 1 Bond Street Colne Lancashire BB8 9DG

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Goodscope Limited
for the Year Ended 30 September 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Goodscope Limited for the year ended 30 September 2017 as set out on pages 3 to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Goodscope Limited. Our work has been undertaken solely to prepare for your approval the accounts of Goodscope Limited and state those matters that we have agreed to state to the Board of Directors of Goodscope Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Goodscope Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Goodscope Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Goodscope Limited. You consider that Goodscope Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Goodscope Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

16 November 2017

Page 2

Goodscope Limited

(Registration number: 05539840)
Balance Sheet as at 30 September 2017

	Note	2017 £	2016 £
Current assets
Debtors	3	133,147	133,147
Cash at bank and in hand		4	7
		133,151	133,154
Creditors: Amounts falling due within one year	4	(109,107)	(108,604)
Net assets		24,044	24,550
Capital and reserves
Called up share capital		100	100
Profit and loss account		23,944	24,450
Total equity		24,044	24,550

For the financial year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 16 November 2017 and signed on its behalf by:
 

.........................................

Mrs C Taylor

Director

.........................................

Mr C Taylor

Director

The notes on pages 4 to 5 form an integral part of these financial statements.

Page 3

Goodscope Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
12 Reeds Close
Reedsholme
Rossendale
Lancashire
BB4 8ND

These financial statements were authorised for issue by the Board on 16 November 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Page 4

Goodscope Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Debtors

	2017 £	2016 £
Trade debtors	133,147	133,147
Total current trade and other debtors	133,147	133,147

4

Creditors

	Note	2017 £	2016 £
Due within one year
Directors' loan		109,107	108,604

5	Transition to FRS 102

This is the first year that the company has presented its financial statements adopting FRS 102 ‘The Financial Reporting Standard Applicable in the United Kingdom and Ireland’. The previous financial statements, for the year ended 30th September 2016, were, prepared under UK GAAP.

The date of transition to FRS 102 was 1st October 2015. The transition to FRS 102 has not resulted in any changes in accounting which would require a reconciliation of the profit for the financial year ended 30th September 2016 or total equity as at 1st October 2015 and 30th September 2016 between previously reported UK GAAP and FRS 102.

Page 5