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Unaudited Financial Statements |
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for the Year Ended 31st December 2019 |
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Goredd Limited |
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Unaudited Financial Statements |
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for the Year Ended 31st December 2019 |
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for |
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Goredd Limited |
Goredd Limited (Registered number: 03627773) |
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Contents of the Financial Statements |
for the year ended 31st December 2019 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Goredd Limited |
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Company Information |
for the year ended 31st December 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Lewis House |
56 Manchester Road |
Altrincham |
Cheshire |
WA14 4PJ |
Goredd Limited (Registered number: 03627773) |
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Abridged Balance Sheet |
31st December 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Commercial Property | 6 |
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CURRENT ASSETS |
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 |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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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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Share premium |
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Fair value reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Goredd Limited (Registered number: 03627773) |
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Abridged Balance Sheet - continued |
31st December 2019 |
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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 and authorised for issue on
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Goredd Limited (Registered number: 03627773) |
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Notes to the Financial Statements |
for the year ended 31st December 2019 |
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1. | STATUTORY INFORMATION |
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Goredd Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover comprises rental income, income from woodlands and contract farming income, net of value added tax. Rental income is recognised on a accrual basis. |
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Intangible fixed assets |
Included in intangible fixed assets are single farm entitlements which are written off over their estimated life of five years. |
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Tangible fixed assets |
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Farmland | - |
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Woodland | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Freehold land is not depreciated. |
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Commercial property |
Commercial property for which fair value can be measured reliably without undue cost or effort is measured at fair value at each reporting date with changes in fair value recognised in the Income Statement. |
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The methods and significant assumptions used to ascertain the fair value at the balance sheet date and fair value movement included in the Income Statement for the year are as follows; |
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Properties are valued on a open market valuation conducted by Mr J P Brooke, a director of the company. |
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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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Goredd Limited (Registered number: 03627773) |
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Notes to the Financial Statements - continued |
for the year ended 31st December 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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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 |
Totals |
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COST |
At 1st January 2019 |
and 31st December 2019 |
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AMORTISATION |
At 1st January 2019 |
and 31st December 2019 |
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NET BOOK VALUE |
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At 31st December 2019 |
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At 31st December 2018 |
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Goredd Limited (Registered number: 03627773) |
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Notes to the Financial Statements - continued |
for the year ended 31st December 2019 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st January 2019 |
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Additions |
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Disposals | ( |
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At 31st December 2019 |
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DEPRECIATION |
At 1st January 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31st December 2019 |
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NET BOOK VALUE |
At 31st December 2019 |
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At 31st December 2018 |
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Included in cost of land and buildings is freehold land of £ 407,654 (2018 - £ 407,654 ) which is not depreciated. |
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6. | COMMERCIAL PROPERTY |
Total |
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FAIR VALUE |
At 1st January 2019 |
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Additions |
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At 31st December 2019 |
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NET BOOK VALUE |
At 31st December 2019 |
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At 31st December 2018 |
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Included in commercial property is quarry land valued at £250,000 (2018 £250,000). |