Goddards Brewery Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 02338202 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

GODDARDS BREWERY LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mr A H Goddard

Mrs A O Goddard

Miss J M Goddard

Mr R C Harvey

Mr X L Baker

REGISTERED OFFICE:

Barnsley Farm

Bullen Road

Ryde

Isle of Wight

PO33 1QF

REGISTERED NUMBER:

02338202 (England and Wales)

ACCOUNTANTS:

Garbetts (IOW) Limited

Exchange House

St Cross Lane

Newport

Isle of Wight

PO30 5BZ

FIXED ASSETS

Tangible assets

4

176,180

177,773

CURRENT ASSETS

Stocks

80,543

60,469

Debtors

5

266,379

245,027

Cash at bank and in hand

57,076

27,129

403,998

332,625

CREDITORS

Amounts falling due within one year

6

362,135

307,456

NET CURRENT ASSETS

41,863

25,169

TOTAL ASSETS LESS CURRENT LIABILITIES

218,043

202,942

CREDITORS

Amounts falling due after more than one year

7

17,150

15,925

NET ASSETS

200,893

187,017

CAPITAL AND RESERVES

Called up share capital

900,000

900,000

Retained earnings

(699,107

)

(712,983

)

SHAREHOLDERS' FUNDS

200,893

187,017

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 10 April 2018 and were signed on its behalf by:

Mr A H Goddard - Director

1.	STATUTORY INFORMATION

Goddards Brewery Limited is a private company, limited by shares , registered in England and Wales. The

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

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.

Capital grants are released to the income and expenditure account over the expected useful life of the assets.

Revenue grants are released to the income and expenditure account as the related expenditure is incurred.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

10% on cost

Plant and machinery etc

-

25% on reducing balance, 20% on cost and at variable rates on reducing balance

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2016 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2017

46,635

524,762

571,397

Additions

-

26,409

26,409

At 31 December 2017

46,635

551,171

597,806

DEPRECIATION

At 1 January 2017

45,757

347,867

393,624

Charge for year

838

27,164

28,002

At 31 December 2017

46,595

375,031

421,626

NET BOOK VALUE

At 31 December 2017

40

176,140

176,180

At 31 December 2016

878

176,895

177,773

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

98,623

73,956

Amounts owed by group undertakings

167,756

167,443

Other debtors

-

3,628

266,379

245,027

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

23,180

23,289

Taxation and social security

28,521

11,473

Other creditors

310,434

272,694

362,135

307,456

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

17,150

15,925

8.	GOING CONCERN

The company has incurred significant trading losses in the past, but still has net current assets. Additionally

amounts owing to the directors comprise the majority of liabilities and the directors have undertaken not to

require repayments of amounts owed to them by the company, should this be considered prejudicial to the

company's financial position.

On the above basis the company is considered to be a going concern, and the accounts have been prepared on

this basis.