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Registered number: |
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Balance Sheet | |||||||
as at |
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Notes | 2016 | 2015 | |||||
£ | £ | ||||||
Current assets | |||||||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 5 | ( |
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Net current liabilities | ( |
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Net liabilities | ( |
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Capital and reserves | |||||||
Called up share capital | 6 |
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Profit and loss account | ( |
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Shareholders' funds | ( |
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Dominic Goold | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Financial Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council. Information on the impact of first-time adoption of FRS 102 is given in note 9. |
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Turnover | ||||||||
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Creditors | ||||||||
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Taxation | ||||||||
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2 | Staff costs | |||||||
The company had no employees (2015: nil) and is managed by its parent company, Goold Estates Limited. | ||||||||
3 | Taxation | 2016 | 2015 | |||||
£ | £ | |||||||
Tax on Profit on Ordinary Activities | ||||||||
Current tax: | ||||||||
UK corporation tax on profits of the period | - | 90,007 | ||||||
Total current tax | - | 90,007 | ||||||
Deferred tax: | ||||||||
Origination and reversal of timing differences | - | - | ||||||
Effect of changes in tax rates | - | - | ||||||
Total deferred tax | - | - | ||||||
Tax on profit on ordinary activities | - | 90,007 | ||||||
Factors affecting tax charge for the current period | ||||||||
The tax charge for the period differs from the standard rate of corporation tax in the UK of 20.00% | ||||||||
The differences are explained below: | ||||||||
(Loss)/Profit on ordinary activities before tax | (4,382) | 444,556 | ||||||
Tax on profit at standard UK tax rate of 20.00% (2015: 20.25%) | (876) | 90,007 | ||||||
Effects of: | ||||||||
Expenses not deductible for tax purposes | - | - | ||||||
Capital Allowances for period in excess of depreciation | - | - | ||||||
Group relief surrendered | 876 | - | ||||||
Current tax charge/(credit) for the period | - | 90,007 | ||||||
4 | Debtors | 2016 | 2015 | |||||
£ | £ | |||||||
Amounts owed by group undertakings and undertakings in which the company has a participating interest | - |
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Other debtors |
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Amounts owed by group undertakings represent £Nil due from Goold Estates Limited (31 December 2015: £70,726). | ||||||||
5 | Creditors: amounts falling due within one year | 2016 | 2015 | |||||
£ | £ | |||||||
Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Corporation tax | - |
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Other taxes and social security costs | ( |
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Other creditors |
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Amounts owed to group undertakings represent £856,580 due to Goold Estates Limited (31 December 2015: £Nil). | ||||||||
6 | Share Capital | 2016 | 2015 | |||||
£ | £ | |||||||
Alloted, called up and fully paid: 100 Ordinary shares of £1 each |
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7 | Controlling party | |||||||
17 Lichfield Street Walsall WS1 1TU The ultimate parent company is G.Estates Holdings Limited, a company registered in England and Wales. The ultimate controlling party is Dominic Goold, who owns 100% of G.Estates Holdings Limited. |
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8 | Other information | |||||||
Goold Estates (Midland Road) Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
17 Lichfield Street | ||||||||
Walsall | ||||||||
WS1 1TU | ||||||||
9 | First time adoption of FRS 102 | |||||||
The financial statements for the period ended 31 December 2016 are the first financial statements of Goold Estates (Midland Road) Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 is 01 January 2015. The transition is not considered to have a material effect on the financial statements previously presented under FRSSE, including the balance sheet at 31 December 2014 and the financial statements for the period ended 31 December 2015. |