Registered Number 00518198
GODFREY & TURNBULL LIMITED
Abbreviated Accounts
5 April 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Investments | 4 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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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 |
( |
( |
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Provisions for liabilities |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 5 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Tangible assets depreciation policy
Freehold property - Over 10 years
Plant & machinery - At 15% per annum on cost
Motor vehicles - At rates varying between 20% and 33.33% per annum on cost
Office equipment - At 33.33% per annum on cost
Intangible assets amortisation policy
Amortisation is provided at the following rates:
Storage rights - Over 74 months
Entitlements - Over 20 years
Other accounting policies
Investments held as fixed assets are shown at cost less provision for impairment.
Stocks
Stocks 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.
Deferred Tax
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
£ | |
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Cost | |
At 6 April 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 5 April 2015 |
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Amortisation | |
At 6 April 2014 |
|
Charge for the year |
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On disposals |
|
At 5 April 2015 |
|
Net book values | |
At 5 April 2015 | 658 |
At 5 April 2014 | 783 |
£ | |
---|---|
Cost | |
At 6 April 2014 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 5 April 2015 |
|
Depreciation | |
At 6 April 2014 |
|
Charge for the year |
|
On disposals |
|
At 5 April 2015 |
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Net book values | |
At 5 April 2015 | 1,558,363 |
At 5 April 2014 | 1,346,206 |
4
Fixed assets Investments
£
At 6 April 2014 and 5 April 2015 5,158
Net book value
At 5 April 2015 5,158
At 5 April 2014 5,158