George Northwood Limited - Accounts to registrar (filleted) - small 17.3
George Northwood Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2017 |
| FOR |
| GEORGE NORTHWOOD LIMITED |
| GEORGE NORTHWOOD LIMITED (REGISTERED NUMBER: 08603783) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 July 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| GEORGE NORTHWOOD LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 July 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Herschel House |
| 58 Herschel Street |
| Slough |
| Berkshire |
| SL1 1PG |
| GEORGE NORTHWOOD LIMITED (REGISTERED NUMBER: 08603783) |
| BALANCE SHEET |
| 31 July 2017 |
| 31.7.17 | 31.7.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| GEORGE NORTHWOOD LIMITED (REGISTERED NUMBER: 08603783) |
| BALANCE SHEET - continued |
| 31 July 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| GEORGE NORTHWOOD LIMITED (REGISTERED NUMBER: 08603783) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 July 2017 |
| 1. | STATUTORY INFORMATION |
| George Northwood Limited is a |
| 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 |
| Turnover |
| Turnover comprises revenue recognised by the company in respect of goods and services supplies during the |
| year, exclusive of Value Added Tax and trade discounts. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 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. |
| 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. |
| Financial instruments |
| Basic Financial Instruments as covered by Section 11 of FRS 102 are measured at amortised cost. The company |
| does not have any Other Financial Instruments as covered by Section 12 of FRS 102. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| GEORGE NORTHWOOD LIMITED (REGISTERED NUMBER: 08603783) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 July 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 August 2016 |
| Additions |
| At 31 July 2017 |
| DEPRECIATION |
| At 1 August 2016 |
| Charge for year |
| At 31 July 2017 |
| NET BOOK VALUE |
| At 31 July 2017 |
| At 31 July 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.7.17 | 31.7.16 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.7.17 | 31.7.16 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors & accruals |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.7.17 | 31.7.16 |
| £ | £ |
| Bank loans |
| GEORGE NORTHWOOD LIMITED (REGISTERED NUMBER: 08603783) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 July 2017 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31.7.17 | 31.7.16 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.7.17 | 31.7.16 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 10. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 August 2016 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 July 2017 |
| 11. | RELATED PARTY DISCLOSURES |
| During the year, G Northwood, a director, received £12,000 (2016: £155,500) from the company. The company |
| paid expenses on behalf of G Northwood totalling £0 (2016: £27,050). The company paid dividend to G |
| Northwood totalling £125,000 (2016: £81,000). As at the balance sheet date G Northwood owed the company |
| £119,490. At the prior year end, the company owed G Northwood £6,038. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The controlling party is G Northwood. |
| 13. | FIRST YEAR ADOPTION |
| The company adopted FRS 102 for the accounting year 31 July 2017. There were no adjustments arising at the |
| transition date or at the end of the comparative period, therefore there is no difference between equity under the |
| previous financial reporting framework and equity under FRS 102. |