The Goodwill Company Limited - Accounts to registrar (filleted) - small 18.1
The Goodwill Company Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30th September 2017 |
| for |
| The Goodwill Company Limited |
| The Goodwill Company Limited (Registered number: 04070363) |
| Contents of the Financial Statements |
| for the Year Ended 30th September 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| The Goodwill Company Limited |
| Company Information |
| for the Year Ended 30th September 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Sovereign House |
| 155 High Street |
| Aldershot |
| Hampshire |
| GU11 1TT |
| The Goodwill Company Limited (Registered number: 04070363) |
| Balance Sheet |
| 30th September 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| 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 behalf by: |
| The Goodwill Company Limited (Registered number: 04070363) |
| Notes to the Financial Statements |
| for the Year Ended 30th September 2017 |
| 1. | STATUTORY INFORMATION |
| The Goodwill Company Limited is a |
| 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 |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
| These financial statements for the year ended 30th September 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 1st October 2015. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable and represents |
| amounts receivable for goods supplied and services rendered, stated net of discounts and of Value |
| Added Tax. |
| The company recognises revenue when the amount of revenue can be measured reliably, when it is |
| probable that future economic benefits will flow to the entity. |
| Tangible fixed assets |
| Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment |
| losses. |
| Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, |
| over their estimated useful lives as follows: |
| Plant and machinery - 25% on cost |
| Office equipment - 25% on reducing balance |
| On disposal, the difference between the net disposal proceeds and the carrying amount of the item |
| sold is recognised in profit or loss. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| The Goodwill Company Limited (Registered number: 04070363) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th September 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of |
| financial assets and liabilities like trade and other accounts receivable and payable, loans from banks |
| and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each |
| reporting period for objective evidence of impairment. If objective evidence of impairment is found, an |
| impairment loss is recognised in profit or loss. |
| For financial assets measured at amortised cost, the impairment loss is measured as the difference |
| between an asset's carrying amount and the present value of estimated cash flows discounted at the |
| asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate |
| for measuring any impairment loss is the current effective interest rate determined under the contract. |
| For financial assets measured at cost less impairment, the impairment loss is measured as the |
| difference between an asset's carrying amount and the best estimate, which is an approximation, of |
| the amount that the company would receive for the asset if it were to be sold at the reporting date. |
| Financial assets and liabilities are offset and the net amount reported in the statement of financial |
| position when there is an enforceable right to set off the recognised amounts and there is an intention |
| to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Going concern |
| The financial statements have been prepared on a going concern basis. This basis assumes that the |
| company will be able to continue to trade for the foreseeable future, and the directors have confirmed |
| their support to the company for this purpose. |
| Impairment of non-financial assets |
| At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property |
| and equipment, are reviewed to determine whether there is an indication that an asset may be |
| impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group |
| of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated |
| and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the |
| asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit |
| or loss. |
| If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related |
| assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount |
| that would have been determined had no impairment loss been recognised for the asset or group of |
| related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or |
| loss. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| The Goodwill Company Limited (Registered number: 04070363) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th September 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and | Office |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1st October 2016 |
| and 30th September 2017 |
| DEPRECIATION |
| At 1st October 2016 |
| Charge for year |
| At 30th September 2017 |
| NET BOOK VALUE |
| At 30th September 2017 |
| At 30th September 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |