John Gould and Son (Bangor) Ltd Micro-entity accounts

John Gould and Son (Bangor) Ltd Micro-entity accounts

JOHN GOULD & SON (BANGOR) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: NI016207
John Gould and Son (Bangor) Ltd
Unaudited Financial Statements
31 October 2017
John Gould and Son (Bangor) Ltd
Financial Statements
Year ended 31 October 2017
Contents
Page
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Income statement
2
Statement of financial position and the notes to the financial statements
3
The following pages do not form part of the financial statements
Detailed income statement
6
Notes to the detailed income statement
7
John Gould and Son (Bangor) Ltd
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of John Gould and Son (Bangor) Ltd
Year ended 31 October 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of John Gould and Son (Bangor) Ltd for the year ended 31 October 2017, which comprise the income statement, statement of financial position and the notes to the financial statements from the company's accounting records and from information and explanations you have given us. As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie. This report is made solely to the Board of Directors of John Gould and Son (Bangor) Ltd, as a body, in accordance with the terms of our engagement letter dated 1 October 2015. Our work has been undertaken solely to prepare for your approval the financial statements of John Gould and Son (Bangor) Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than John Gould and Son (Bangor) Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that John Gould and Son (Bangor) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of John Gould and Son (Bangor) Ltd. You consider that John Gould and Son (Bangor) Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of John Gould and Son (Bangor) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
AUBREY CAMPBELL ACCOUNTANTS LIMITED Chartered Accountants
222 Upper Newtownards Road Belfast N. Ireland BT4 3ET
2 May 2018
John Gould and Son (Bangor) Ltd
Income Statement
Year ended 31 October 2017
2017
2016
(restated)
£
£
Turnover
740,173
736,617
Other income
37
39
---------
---------
740,210
736,656
Cost of raw materials and consumables
530,317
540,912
Staff costs
104,160
104,440
Depreciation and other amounts written off assets
9,100
4,820
Other charges
68,485
68,511
Tax
5,463
3,610
---------
---------
Profit
22,685
14,363
---------
---------
John Gould and Son (Bangor) Ltd
Statement of Financial Position
31 October 2017
2017
2016
(restated)
£
£
£
Fixed assets
27,410
36,510
--------
--------
Current assets
262,504
268,600
Prepayments and accrued income
8,681
8,681
---------
---------
271,185
277,281
Creditors: amounts falling due within one year
145,613
289,526
---------
---------
Net current assets/(liabilities)
125,572
( 12,245)
---------
--------
Total assets less current liabilities
152,982
24,265
Creditors: amounts falling due after more than one year
157,527
16,569
Provisions for liabilities
533
1,266
Accruals and deferred income
3,500
3,193
---------
--------
(8,578)
3,237
---------
--------
Capital and reserves
( 8,578)
3,237
-------
-------
Notes to the financial statements
1. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2017
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr Gavin Gould
( 35,179)
29,385
( 29,779)
( 35,573)
Mrs Margaret Gould
( 147,288)
10,833
( 5,000)
( 141,455)
---------
--------
--------
---------
( 182,467)
40,218
( 34,779)
( 177,028)
---------
--------
--------
---------
2016
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr Gavin Gould
( 26,802)
25,200
( 33,576)
(35,178)
Mrs Margaret Gould
( 154,455)
9,167
( 2,000)
( 147,288)
---------
--------
--------
---------
( 181,257)
34,367
( 35,576)
(182,466)
---------
--------
--------
---------
For the year ending 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the micro-entity provisions.
These financial statements were approved by the board of directors and authorised for issue on 2 May 2018 , and are signed on behalf of the board by:
Mr Gavin Gould
Director
Company registration number: NI016207
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 222 Upper Newtownards Road, Belfast, BT4 3ET, Northern Ireland.
John Gould and Son (Bangor) Ltd
Management Information
Year ended 31 October 2017
The following page does not form part of the financial statements.
John Gould and Son (Bangor) Ltd
Detailed Income Statement
Year ended 31 October 2017
2017
2016
(restated)
£
£
Turnover
740,173
736,617
Other income
37
39
Cost of raw materials and consumables
Opening stock
88,537
88,973
Purchases
529,308
540,476
---------
---------
617,845
629,449
Closing stock
87,528
88,537
---------
---------
530,317
540,912
---------
---------
Staff costs
104,160
104,440
Depreciation and other amounts written off assets
9,100
4,820
Other charges
68,485
68,511
--------
--------
28,148
17,973
--------
--------
John Gould and Son (Bangor) Ltd
Notes to the Detailed Income Statement
Year ended 31 October 2017
2017
2016
(restated)
£
£
Other income
Deposit account interest
37
39
----
----
Staff costs
Wages and salaries
94,269
94,840
Staff pension contributions
291
-
Directors salaries - Mr G J Gould
7,200
7,200
Directors pensions - Mr G J Gould
2,400
2,400
---------
---------
104,160
104,440
---------
---------
Depreciation and other amounts written off assets
Depreciation of tangible assets
9,100
6,030
(Gain)/loss on disposal of tangible assets
-
(1,210)
-------
-------
9,100
4,820
-------
-------
Other charges
Rent
7,500
1,875
Rates and water
5,768
3,261
Light and heat
2,814
2,007
Insurance
1,890
2,859
Repairs and renewals
2,278
7,073
Motor and travelling
5,698
5,954
Telephone
1,358
1,183
Advert, postage, stationery
3,430
3,955
Staff training
16
365
Sundry expenses
227
434
Cleaning
315
334
Donations
100
80
Subscriptions
785
615
Bank charges
1,069
1,227
Legal and professional fees (allowable)
3,150
2,578
Locums
27,788
30,370
Accountancy fees
3,200
3,700
Hire purchase interest
1,099
641
--------
--------
68,485
68,511
--------
--------