Company registration number:
for the Year Ended
Albert Goodman Lewis Limited
(Registration number: 09466289)
Balance Sheet as at 30 April 2020
Note |
2020 |
2019 |
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Fixed assets |
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Intangible assets |
- |
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Tangible assets |
- |
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- |
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Current assets |
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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/(liabilities) |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.
Approved and authorised by the
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Albert Goodman Lewis Limited
Notes to the Financial Statements
for the Year Ended 30 April 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling (£).
Going concern
On 30 April 2020, the trade and associated assets and liabilities were transferred to the parent, Albert Goodman LLP. Since this date, the company has been settling its affairs only.
Turnover recognition
Turnover reflects the right to consideration earned in respect of services performed during the year, exclusive of value added tax. Unbilled revenue is included in other debtors.
Tax
The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Albert Goodman Lewis Limited
Notes to the Financial Statements
for the Year Ended 30 April 2020
Tangible assets
Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation of tangible assets
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
10% to 33% straight line |
Goodwill
Goodwill arising on the acquisition of a trade represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities associated with the trade recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
straight line over five years |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Albert Goodman Lewis Limited
Notes to the Financial Statements
for the Year Ended 30 April 2020
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Staff numbers |
The average number of persons employed by the company (including the director) during the year was
This includes employees who have employment contracts with the parent Albert Goodman LLP but who undertake their work for the clients of Albert Goodman Lewis Limited.
Albert Goodman Lewis Limited
Notes to the Financial Statements
for the Year Ended 30 April 2020
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 May 2019 |
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Disposals |
( |
( |
At 30 April 2020 |
- |
- |
Amortisation |
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At 1 May 2019 |
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Amortisation charge |
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Amortisation eliminated on disposals |
( |
( |
At 30 April 2020 |
- |
- |
Carrying amount |
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At 30 April 2020 |
- |
- |
At 30 April 2019 |
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Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 May 2019 |
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Disposals |
( |
( |
At 30 April 2020 |
- |
- |
Depreciation |
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At 1 May 2019 |
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Charge for the year |
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Eliminated on disposal |
( |
( |
At 30 April 2020 |
- |
- |
Carrying amount |
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At 30 April 2020 |
- |
- |
At 30 April 2019 |
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Albert Goodman Lewis Limited
Notes to the Financial Statements
for the Year Ended 30 April 2020
Debtors |
2020 |
2019 |
|
Trade debtors |
- |
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Other debtors |
- |
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Total current trade and other debtors |
- |
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Creditors |
Creditors: amounts falling due within one year
Note |
2020 |
2019 |
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Due within one year |
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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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Taxation and social security |
- |
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Corporation tax |
8,691 |
4,898 |
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Other creditors |
- |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
Financial commitments
The total amount of financial commitments not included in the balance sheet is £Nil (2019 - £
Guarantees
The company has entered into a group overdraft facility, providing a guarantee for the bank borrowings of other members of the group. The total amount of borrowing by other group companies at 30 April 2020 was £1,101,140 (2019 - £1,233,812). A debenture has been provided to the bank.
Albert Goodman Lewis Limited
Notes to the Financial Statements
for the Year Ended 30 April 2020
Related party transactions |
Summary of transactions with parent
On 30 April 2020, the assets and business of the company were transferred to the parent Albert Goodman LLP at book value.
Parent and ultimate parent undertaking |
The company's immediate parent is
The parent of the largest group in which these financial statements are consolidated is
The address of Albert Goodman LLP is:
Audit Report |