5
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2021-08-01
Sage Accounts Production Advanced 2021 - FRS102_2021
22,995
22,995
xbrli:pure
xbrli:shares
iso4217:GBP
08597832
2021-08-01
2022-07-31
08597832
2022-07-31
08597832
2021-07-31
08597832
2020-08-01
2021-07-31
08597832
2021-07-31
08597832
core:NetGoodwill
2021-08-01
2022-07-31
08597832
core:PlantMachinery
2021-08-01
2022-07-31
08597832
core:FurnitureFittings
2021-08-01
2022-07-31
08597832
bus:Director2
2021-08-01
2022-07-31
08597832
bus:Director1
2021-08-01
2022-07-31
08597832
core:NetGoodwill
2022-07-31
08597832
core:PlantMachinery
2021-07-31
08597832
core:FurnitureFittings
2021-07-31
08597832
core:PlantMachinery
2022-07-31
08597832
core:FurnitureFittings
2022-07-31
08597832
core:AfterOneYear
2022-07-31
08597832
core:AfterOneYear
2021-07-31
08597832
core:WithinOneYear
2022-07-31
08597832
core:WithinOneYear
2021-07-31
08597832
core:ShareCapital
2022-07-31
08597832
core:ShareCapital
2021-07-31
08597832
core:RetainedEarningsAccumulatedLosses
2022-07-31
08597832
core:RetainedEarningsAccumulatedLosses
2021-07-31
08597832
core:PlantMachinery
2021-07-31
08597832
core:FurnitureFittings
2021-07-31
08597832
bus:Director1
2021-07-31
08597832
bus:Director1
2020-07-31
08597832
bus:SmallEntities
2021-08-01
2022-07-31
08597832
bus:AuditExemptWithAccountantsReport
2021-08-01
2022-07-31
08597832
bus:FullAccounts
2021-08-01
2022-07-31
08597832
bus:SmallCompaniesRegimeForAccounts
2021-08-01
2022-07-31
08597832
bus:PrivateLimitedCompanyLtd
2021-08-01
2022-07-31
08597832
core:ComputerEquipment
2021-08-01
2022-07-31
08597832
core:ComputerEquipment
2022-07-31
08597832
core:ComputerEquipment
2021-07-31
COMPANY REGISTRATION NUMBER:
08597832
Goodchilds (Erdington) Limited
|
|
Filleted Unaudited Financial Statements
|
|
Goodchilds (Erdington) Limited
|
|
Statement of Financial Position
|
|
31 July 2022
Fixed assets
Tangible assets
|
6
|
|
2,203
|
3,388
|
|
|
|
|
|
Current assets
Debtors
|
7
|
(
1,975)
|
|
(
1,975)
|
Cash at bank and in hand
|
170
|
|
256
|
|
-------
|
|
-------
|
|
(
1,805)
|
|
(
1,719)
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
8
|
100,222
|
|
108,373
|
|
---------
|
|
---------
|
Net current liabilities
|
|
102,027
|
110,092
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
(
99,824)
|
(
106,704)
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
9
|
|
253,624
|
214,781
|
|
|
---------
|
---------
|
Net liabilities
|
|
(
353,448)
|
(
321,485)
|
|
|
---------
|
---------
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
200
|
200
|
Profit and loss account
|
|
(
353,648)
|
(
321,685)
|
|
|
---------
|
---------
|
Shareholders deficit
|
|
(
353,448)
|
(
321,485)
|
|
|
---------
|
---------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Goodchilds (Erdington) Limited
|
|
Statement of Financial Position (continued)
|
|
31 July 2022
These financial statements were approved by the
board of directors
and authorised for issue on
1 March 2023
, and are signed on behalf of the board by:
Company registration number:
08597832
Goodchilds (Erdington) Limited
|
|
Notes to the Financial Statements
|
|
Year ended 31 July 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 14 Beeches Walk, Sutton Coldfield, Birmingham, B73 6HN, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The Company meets its day to day capital requirements through cash generated from trading and its cash resources raised from investors. The Director believes that the Company has access to considerable financial resources and, as a consequence, believe that it is well places to manage its business risks successfully. The Company's forecasts and projections show that the Director has a reasonable expectation that the Company has sufficient resources to continue in existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Changes in formats
In the transition to section 1A of FRS from old UK GAAP, the Company has made no measurement and recognition adjustments.
Changes in accounting policies
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. These financial statements were prepared in accordance with Section 1A of the Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS102") as issued in August 2014. The amendments to FRS 102 issued in July 2015 have been applied. The presentation currency of these financial statements is Sterling Pounds. In the transition to section 1A of FRS from old UK GAAP, the Company has made no measurement and recognition adjustments.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill Amortisation
|
-
|
14% straight line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant & Machinery Depreciation
|
-
|
25% straight line
|
|
Fixtures & Fittings Depreciation
|
-
|
20% straight line
|
|
Equipment Depreciation
|
-
|
33% straight line
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2021:
5
).
5.
Intangible assets
|
Goodwill
|
|
£
|
Cost
|
|
At 1 August 2021 and 31 July 2022
|
22,995
|
|
--------
|
Amortisation
|
|
At 1 August 2021 and 31 July 2022
|
22,995
|
|
--------
|
Carrying amount
|
|
At 31 July 2022
|
–
|
|
--------
|
At 31 July 2021
|
–
|
|
--------
|
|
|
6.
Tangible assets
|
Plant and machinery
|
Fixtures and fittings
|
Equipment
|
Total
|
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
At 1 August 2021 and 31 July 2022
|
2,017
|
7,176
|
8,117
|
17,310
|
|
-------
|
-------
|
-------
|
--------
|
Depreciation
|
|
|
|
|
At 1 August 2021
|
241
|
6,092
|
7,589
|
13,922
|
Charge for the year
|
402
|
519
|
264
|
1,185
|
|
-------
|
-------
|
-------
|
--------
|
At 31 July 2022
|
643
|
6,611
|
7,853
|
15,107
|
|
-------
|
-------
|
-------
|
--------
|
Carrying amount
|
|
|
|
|
At 31 July 2022
|
1,374
|
565
|
264
|
2,203
|
|
-------
|
-------
|
-------
|
--------
|
At 31 July 2021
|
1,776
|
1,084
|
528
|
3,388
|
|
-------
|
-------
|
-------
|
--------
|
|
|
|
|
|
7.
Debtors
|
2022
|
2021
|
|
£
|
£
|
Trade debtors
|
(
1,975)
|
(
1,975)
|
|
-------
|
-------
|
|
|
|
8.
Creditors:
amounts falling due within one year
|
2022
|
2021
|
|
£
|
£
|
Trade creditors
|
26,584
|
41,996
|
Social security and other taxes
|
63,638
|
56,377
|
Other creditors
|
10,000
|
10,000
|
|
---------
|
---------
|
|
100,222
|
108,373
|
|
---------
|
---------
|
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2022
|
2021
|
|
£
|
£
|
Bank loans and overdrafts
|
27,151
|
34,213
|
Other creditors
|
226,473
|
180,568
|
|
---------
|
---------
|
|
253,624
|
214,781
|
|
---------
|
---------
|
|
|
|
10.
Financial instruments
In accordance with FRS 102.22, financial instruments issued by the Company are treated as equity only to the extent that they meet the following two conditions: (a) They include no contractual obligations upon the Company to deliver cash or other financial assets or to exchange financial assets or financial liabilities with another party under conditions that are potentially unfavourable to the Company; and (b) Where the instrument will or may be settled in the Company's own equity instruments, it is either a non-derivative that includes no obligation to deliver a variable number of the Company's own equity instruments or is a derivative that will be settled by the Company's exchanging a fixed amount of cash or other financial assets for a fixed number of its own equity instruments. To the extent that this definition is not met, the proceeds of issue are classified as a financial liability. Where the instrument so classified takes the legal form of the Company's own shares, the amounts presented in these financial statements for called up share capital and share premium account exclude amounts in relation to those shares
In accordance with FRS 102.22, financial instruments issued by the Company are treated as equity only to the extent that they meet the following two conditions:
(a) They include no contractual obligations upon the Company to deliver cash or other financial assets or to exchange financial assets or financial liabilities with another party under conditions that are potentially unfavourable to the Company; and
(b) Where the instrument will or may be settled in the Company's own equity instruments, it is either a non-derivative that includes no obligation to deliver a variable number of the Company's own equity instruments or is a derivative that will be settled by the Company's exchanging a fixed amount of cash or other financial assets for a fixed number of its own equity instruments.
To the extent that this definition is not met, the proceeds of issue are classified as a financial liability. Where the instrument so classified takes the legal form of the Company's own shares, the amounts presented in these financial statements for called up share capital and share premium account exclude amounts in relation to those shares
11.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
|
Balance brought forward and outstanding
|
|
2022
|
2021
|
|
£
|
£
|
Mr JH Hipkiss
|
(
208,288)
|
(
180,568)
|
|
---------
|
---------
|
|
|
|
12.
Related party transactions
The company was under the control of Mr J Hipkiss throughout the current and previous year. Mr J Hipliss is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities.