Company Registration No. 6430284 (England and Wales)
Good Ventures Limited
Unaudited accounts
for the year ended 31 March 2017
Good Ventures Limited
Unaudited accounts
Contents
Good Ventures Limited
Company Information
for the year ended 31 March 2017
Director
Laura Francesca Rudoe
Company Number
6430284 (England and Wales)
Registered Office
STUDIO 20, HERTFORDSHIRE BUSINESS CENTRE
LONDON COLNEY
ST. ALBANS
HERTFORDSHIRE
AL2 1JG
ENGLAND
Accountants
Evenstone Ltd
Suite 19-20 Pure Offices
Kembrey Park
Swindon
Wiltshire
SN2 8BW
Good Ventures Limited
Statement of financial position
as at 31 March 2017
Tangible assets
7,336
5,848
Inventories
105,259
50,619
Cash at bank and in hand
1,562
605
Creditors: amounts falling due within one year
(68,341)
(37,451)
Net current assets
93,139
30,075
Total assets less current liabilities
100,545
36,406
Creditors: amounts falling due after more than one year
(199,719)
(170,677)
Net liabilities
(99,174)
(134,271)
Called up share capital
100
100
Profit and loss account
(99,274)
(134,371)
Shareholders' funds
(99,174)
(134,271)
For the year ending 31 March 2017 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 18 December 2017.
Laura Francesca Rudoe
Director
Company Registration No. 6430284
Good Ventures Limited
Notes to the Accounts
for the year ended 31 March 2017
Good Ventures Limited is a private company, limited by shares, registered in England and Wales, registration number 6430284. The registered office is STUDIO 20, HERTFORDSHIRE BUSINESS CENTRE, LONDON COLNEY, ST. ALBANS, HERTFORDSHIRE, AL2 1JG, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Expenditure on research and development is written off in the year in which it is incurred.
Good Ventures Limited
Notes to the Accounts
for the year ended 31 March 2017
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2016
5,678
1,833
4,160
11,671
Additions
2,596
1,902
876
5,374
At 31 March 2017
8,274
3,735
5,036
17,045
At 1 April 2016
2,991
886
1,946
5,823
Charge for the year
2,171
934
781
3,886
At 31 March 2017
5,162
1,820
2,727
9,709
At 31 March 2017
3,112
1,915
2,309
7,336
At 31 March 2016
2,687
947
2,214
5,848
Finished goods
105,259
50,619
Trade debtors
41,461
11,178
Accrued income and prepayments
13,198
5,124
Good Ventures Limited
Notes to the Accounts
for the year ended 31 March 2017
8
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
11,586
14,988
Trade creditors
48,647
13,478
Taxes and social security
(2,936)
(148)
Other creditors
3,982
9,133
Loans from directors
7,062
-
9
Creditors: amounts falling due after more than one year
2017
2016
Other creditors
188,469
154,427
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Transactions with related parties
Laura Francesca Rudoe is a director of Good Ventures Limited.
Loan to assist with day to day cash flow - no interest is charged (balance included in Director's Loan and other creditors greater than 1 year).
12
Average number of employees
During the year the average number of employees was 6 (2016: 3).
