Goodacre Properties Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09134431 (England and Wales)

Financial Statements

for the Year Ended 31 July 2017

for

Goodacre Properties Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

J Herman

REGISTERED OFFICE:

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

REGISTERED NUMBER:

09134431 (England and Wales)

ACCOUNTANTS:

Barnbrook Sinclair

Chartered Accountants

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

FIXED ASSETS

Property, plant and equipment

5

334

445

Investments

6

33

33

367

478

CURRENT ASSETS

Debtors

7

30,305

34,400

Cash at bank

4

6

30,309

34,406

CREDITORS

Amounts falling due within one year

8

(29,827

)

(33,723

)

NET CURRENT ASSETS

482

683

TOTAL ASSETS LESS CURRENT LIABILITIES

849

1,161

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

848

1,160

SHAREHOLDERS' FUNDS

849

1,161

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 19 April 2018 and were signed by:

J Herman - Director

1.	STATUTORY INFORMATION

Goodacre Properties Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31 July 2017 are the first that are prepared in accordance with FRS

102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 1 August 2015.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Turnover represents the value of services provided during the period.

Tangible fixed assets

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

Computer equipment

-

25% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Fixed asset investments

Fixed asset investments are stated at cost less any provision for impairment.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

5.	PROPERTY, PLANT AND EQUIPMENT

Computer

equipment

£

Cost

At 1 August 2016

and 31 July 2017

593

Depreciation

At 1 August 2016

148

Charge for year

111

At 31 July 2017

259

Net book value

At 31 July 2017

334

At 31 July 2016

445

6.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

Cost

At 1 August 2016

and 31 July 2017

33

Net book value

At 31 July 2017

33

At 31 July 2016

33

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/17

31/7/16

£

£

Other debtors

30,305

34,400

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/17

31/7/16

£

£

Amounts owed to joint ventures

-

10,000

Taxation and social security

24,565

18,929

Other creditors

5,262

4,794

29,827

33,723

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the period the company loaned its director £7,000 which remained outstanding at the year end but has

since been repaid in full. The company's director owed £34,401 to the company at the end of the comparative

period which was repaid in full during the period. Interest has been charged by the company on both loans at 3%

p.a. and amounted to £1,212 for the year.