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Unaudited Financial Statements for the Year Ended 5 April 2019 |
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Godfrey & Turnbull Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 5 April 2019 |
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for |
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Godfrey & Turnbull Limited |
Godfrey & Turnbull Limited (Registered number: 00518198) |
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Contents of the Financial Statements |
for the Year Ended 5 April 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Godfrey & Turnbull Limited |
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Company Information |
for the Year Ended 5 April 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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BANKERS: |
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84 High Street |
Scunthorpe |
North Lincolnshire |
DN15 6HQ |
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SOLICITORS: |
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2 Park Square |
Laneham Street |
Scunthorpe |
North Lincolnshire |
DN15 6JH |
Godfrey & Turnbull Limited (Registered number: 00518198) |
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Balance Sheet |
5 April 2019 |
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5.4.19 | 5.4.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Property, plant and equipment | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Inventories |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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( |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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Godfrey & Turnbull Limited (Registered number: 00518198) |
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Balance Sheet - continued |
5 April 2019 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Godfrey & Turnbull Limited (Registered number: 00518198) |
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Notes to the Financial Statements |
for the Year Ended 5 April 2019 |
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1. | STATUTORY INFORMATION |
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Godfrey & Turnbull Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Intangible fixed assets and amortisation |
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of |
the identifiable assets and liabilities. It is amortised to the profit and loss account over its estimated |
economic life. |
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Amortisation is provided at the following rates: |
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Storage rights - Over 74 months |
Entitlements - Over 20 years |
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Tangible fixed assets |
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Freehold property - Over 10 years |
Plant and 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 |
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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 |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Godfrey & Turnbull Limited (Registered number: 00518198) |
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Notes to the Financial Statements - continued |
for the Year Ended 5 April 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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Investments |
Investments held as fixed assets are shown at cost less provision for impairment. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Storage |
rights | Entitlements | Totals |
£ | £ | £ |
COST |
At 6 April 2018 |
and 5 April 2019 |
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AMORTISATION |
At 6 April 2018 |
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Amortisation for year |
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At 5 April 2019 |
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NET BOOK VALUE |
At 5 April 2019 |
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At 5 April 2018 |
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Godfrey & Turnbull Limited (Registered number: 00518198) |
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Notes to the Financial Statements - continued |
for the Year Ended 5 April 2019 |
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5. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 6 April 2018 |
and 5 April 2019 |
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DEPRECIATION |
At 6 April 2018 |
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Charge for year |
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At 5 April 2019 |
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NET BOOK VALUE |
At 5 April 2019 |
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At 5 April 2018 |
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Included in land and buildings is freehold land at a cost of £1,220,221 (2018: £1,220,221) which is |
not depreciated |
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6. | FIXED ASSET INVESTMENTS |
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5.4.19 | 5.4.18 |
£ | £ |
Other investments not loans |
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Other loans |
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Additional information is as follows: |
Other |
investments |
£ |
COST |
At 6 April 2018 |
and 5 April 2019 |
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NET BOOK VALUE |
At 5 April 2019 |
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At 5 April 2018 |
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Godfrey & Turnbull Limited (Registered number: 00518198) |
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Notes to the Financial Statements - continued |
for the Year Ended 5 April 2019 |
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6. | FIXED ASSET INVESTMENTS - continued |
Other |
loans |
£ |
At 6 April 2018 |
and 5 April 2019 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.19 | 5.4.18 |
£ | £ |
Trade debtors |
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VAT |
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Deferred tax asset |
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Prepayments |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.19 | 5.4.18 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Directors' loan accounts |
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Accruals and deferred income |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
5.4.19 | 5.4.18 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 years |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 years | 6,630 | 43,300 |
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The bank loan is secured against the company's land and buildings at Low Farm. |
Godfrey & Turnbull Limited (Registered number: 00518198) |
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Notes to the Financial Statements - continued |
for the Year Ended 5 April 2019 |
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10. | RELATED PARTY DISCLOSURES |
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5.4.19 | 5.4.18 |
£ | £ |
Sales to related parties | 13,909 | 48,394 |
Sales ledger balances owing from related parties | 841 | - |
Purchases from related parties | 187,270 | 214,685 |
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The related parties are companies which are under the control of the directors immediate family. |
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11. | ULTIMATE CONTROLLING PARTY |
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Mr A T G Turnbull, a director, holds 52% of the issued share capital and together with members of |
his family controls the company as a result of controlling directly or indirectly 100% of the issued |
share capital of the company. |