Goodgame Properties Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07564615

GOODGAME PROPERTIES LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

33,087

37,451

CURRENT ASSETS

Stocks

-

356,929

Debtors

5

5,454

12,603

Cash at bank

766,004

165,316

771,458

534,848

CREDITORS

Amounts falling due within one year

6

265,602

244,961

NET CURRENT ASSETS

505,856

289,887

TOTAL ASSETS LESS CURRENT LIABILITIES

538,943

327,338

PROVISIONS FOR LIABILITIES

6,617

-

NET ASSETS

532,326

327,338

CAPITAL AND RESERVES

Called up share capital

250,100

250,100

Retained earnings

282,226

77,238

SHAREHOLDERS' FUNDS

532,326

327,338

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 21 December 2017 and were signed on its behalf by:

P R Goodgame - Director

1.	STATUTORY INFORMATION

Goodgame Properties Limited is a private company limited by shares. The company is

registered in England under number 07564615 and the address of the registered office is

Barclays Bank Chambers, Bridge Street, Stratford-Upon-Avon, CV37 6AH. The company's

place of business is Highview Bungalow, Waystone Lane, Broom Hill, Belbroughton,

Stourbridge, DY9 0AY.

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 the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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 Profit and

Loss Account, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

51,037

Additions

7,449

At 31 March 2017

58,486

DEPRECIATION

At 1 April 2016

13,586

Charge for year

11,813

At 31 March 2017

25,399

NET BOOK VALUE

At 31 March 2017

33,087

At 31 March 2016

37,451

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

5,454

12,603

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

6,014

15,557

Taxation and social security

45,632

-

Other creditors

213,956

229,404

265,602

244,961

7.	FIRST YEAR ADOPTION

On first-time adoption of FRS 102 Section 1A there were no adjustments arising from the

transition from the previous UK GAAP financial reporting framework. As a consequence

there is no necessity to produce notes itemising reconciliations of equity at the date of

transition and date of previous year end, or a reconciliation of profit at the previous year end,

or any explanatory notes.