Proper Goose Limited
Proper Goose Limited
Registered number: 09119257
Unaudited Financial Statements
For The Year Ended 31 July 2017
TONY R J ELSDON FCCA
Chartered Certified Accountant
31 Wildcroft Drive
North Holmwood
Dorking
Surrey
RH5 4TL
Proper Goose Limited
Unaudited Financial Statements
For The Year Ended 31 July 2017
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Proper Goose Limited
Balance Sheet
As at
31 July 2017
Balance Sheet
Registered number:
09119257
For the year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 2 |
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| CURRENT ASSETS | |||||
| Stocks | 3 |
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| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (394,507) | (509,395) | |||
Page 1
Proper Goose Limited
Balance Sheet (continued)
As at
31 July 2017
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his 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. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Proper Goose Limited
Notes to the Unaudited Accounts
For The Year Ended 31 July 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
The financial statements have been prepared on a going concern basis. The director has provided notice that he will support the operational needs of the company for a period of at least twelve months from the date of approval of the financial statements in oder to allow the company to meet it's liabilities as and when they fall due. For this reason the going concern basis remains appropriate.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Computer Equipment |
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1.5.
Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Proper Goose Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 July 2017
2.
Tangible Assets
| Plant & Machinery | Computer Equipment | Total | |
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| Cost | |||
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| Additions |
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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3.
Stocks
| 2017 | 2016 | ||
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| £ | £ | ||
| Stock - materials and work in progress | 28,672 | - | |
| Stock - materials |
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| Stock - finished goods |
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4.
Debtors
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| VAT |
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Page 4
Proper Goose Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 July 2017
5.
Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Trade creditors |
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| Other taxes and social security |
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| Other creditors |
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| Accruals and deferred income |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Directors loan account |
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8.
Related Party Transactions
During the period the director, Mark Gosling, advanced further net loans to the company amounting to £314,035 (2016: £419,139). £399,999 of the directors loans was capitalised during the year. At the balance sheet date the amount owed to the director, Mark Gosling, was £553,196 (2016: £639,160).
9.
Ultimate Controlling Party
The company's ultimate controlling party is the director Mark Gosling by virtue of his ownership of 100% of the issued share capital in the company.
10.
General Information
Proper Goose Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09119257 . The registered office is Karno House, Hampton Court Road, East Molesey, Surrey, KT8 9BP.
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