Company Registration No. 06962398 (England and Wales)
GOOD ADVICE UK LIMITED
Unaudited accounts
for the year ended 31 March 2020
GOOD ADVICE UK LIMITED
Unaudited accounts
Contents
GOOD ADVICE UK LIMITED
Company Information
for the year ended 31 March 2020
Director
Mr Atef Elmarakby
Company Number
06962398 (England and Wales)
Registered Office
OFFICE 1.02 VAUXHALL SKY GARDENS
153 WANDSWORTH ROAD
LONDON
SW8 2GB
UNITED KINGDOM
GOOD ADVICE UK LIMITED
Statement of financial position
as at
31 March 2020
Intangible assets
2,466
3,288
Tangible assets
2,202,247
2,319,454
Cash at bank and in hand
18,076
554
Creditors: amounts falling due within one year
(824,356)
(905,383)
Net current liabilities
(732,215)
(694,380)
Total assets less current liabilities
1,472,498
1,628,362
Creditors: amounts falling due after more than one year
(1,413,638)
(1,449,249)
Net assets
58,860
179,113
Called up share capital
100
100
Profit and loss account
58,760
179,013
Shareholders' funds
58,860
179,113
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 December 2020 and were signed on its behalf by
Mr Atef Elmarakby
Director
Company Registration No. 06962398
GOOD ADVICE UK LIMITED
Notes to the Accounts
for the year ended 31 March 2020
GOOD ADVICE UK LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06962398. The registered office is OFFICE 1.02 VAUXHALL SKY GARDENS, 153 WANDSWORTH ROAD, LONDON, SW8 2GB, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5% on straight line method.
Plant & machinery
20% on reducing balance method.
Fixtures & fittings
20% on reducing balance method.
Computer equipment
20% on reducing balance method.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Due to COVID 19 pandemic and the further preventative measures to stop its spreading taken by the British government, the industry is suffering huge financial loss due to substantial drop in clients. Giving the unpresentable nature and impact of virus outbreak it remains unsure how much time it will take the company to get back to stable footing. The management has a reasonable expectation that the company has adequate resources to continue in operations for foreseeable future.
GOOD ADVICE UK LIMITED
Notes to the Accounts
for the year ended 31 March 2020
4
Intangible fixed assets
Other
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2019
2,154,653
10,487
220,067
31,153
2,416,360
Additions
-
-
40,000
133
40,133
At 31 March 2020
2,154,653
10,487
260,067
31,286
2,456,493
At 1 April 2019
43,093
2,205
44,013
7,595
96,906
Charge for the year
107,733
1,657
43,211
4,739
157,340
At 31 March 2020
150,826
3,862
87,224
12,334
254,246
At 31 March 2020
2,003,827
6,625
172,843
18,952
2,202,247
At 31 March 2019
2,111,560
8,282
176,054
23,558
2,319,454
Other debtors
74,065
210,449
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
35,611
260,587
Trade creditors
94,758
94,758
Taxes and social security
24,546
37,821
Other creditors
379,720
-
Loans from directors
288,221
512,217
GOOD ADVICE UK LIMITED
Notes to the Accounts
for the year ended 31 March 2020
8
Creditors: amounts falling due after more than one year
2020
2019
Bank loans
1,413,638
1,449,249
9
Average number of employees
During the year the average number of employees was 30 (2019: 26).