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REGISTERED NUMBER: SC275014 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2018

for

Good News (Cowdenbeath) Ltd

Good News (Cowdenbeath) Ltd (Registered number: SC275014)






Contents of the Financial Statements
for the Year Ended 31 July 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Good News (Cowdenbeath) Ltd

Company Information
for the Year Ended 31 July 2018







DIRECTOR: M Idrees





SECRETARY: Mrs S Idrees





REGISTERED OFFICE: 101 Broad Street
Cowdenbeath
Fife
KY4 8JR





REGISTERED NUMBER: SC275014 (Scotland)





ACCOUNTANTS: akb Chartered Accountants
86 Albert Road
Glasgow
Lanarkshire
G42 8DR

Good News (Cowdenbeath) Ltd (Registered number: SC275014)

Balance Sheet
31 July 2018

31.7.18 31.7.17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 260,175 258,631
260,175 258,631

CURRENT ASSETS
Stocks 29,158 28,448
Debtors 6 1,116 1,116
Cash at bank and in hand 219,487 179,114
249,761 208,678
CREDITORS
Amounts falling due within one year 7 58,737 55,559
NET CURRENT ASSETS 191,024 153,119
TOTAL ASSETS LESS CURRENT
LIABILITIES

451,199

411,750

PROVISIONS FOR LIABILITIES 1,578 1,318
NET ASSETS 449,621 410,432

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 449,619 410,430
SHAREHOLDERS' FUNDS 449,621 410,432

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Good News (Cowdenbeath) Ltd (Registered number: SC275014)

Balance Sheet - continued
31 July 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 12 November 2018 and were signed by:





M Idrees - Director


Good News (Cowdenbeath) Ltd (Registered number: SC275014)

Notes to the Financial Statements
for the Year Ended 31 July 2018

1. STATUTORY INFORMATION

Good News (Cowdenbeath) Ltd is a private company, limited by shares , registered in Scotland. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less
any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

Good News (Cowdenbeath) Ltd (Registered number: SC275014)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2018

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2017 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2017
and 31 July 2018 60,000
AMORTISATION
At 1 August 2017
and 31 July 2018 60,000
NET BOOK VALUE
At 31 July 2018 -
At 31 July 2017 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2017 252,040 35,694 287,734
Additions - 4,482 4,482
Disposals - (3,000 ) (3,000 )
At 31 July 2018 252,040 37,176 289,216
DEPRECIATION
At 1 August 2017 - 29,103 29,103
Charge for year - 2,769 2,769
Eliminated on disposal - (2,831 ) (2,831 )
At 31 July 2018 - 29,041 29,041
NET BOOK VALUE
At 31 July 2018 252,040 8,135 260,175
At 31 July 2017 252,040 6,591 258,631

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.18 31.7.17
£    £   
Other debtors 1,116 1,116

Good News (Cowdenbeath) Ltd (Registered number: SC275014)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2018

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.18 31.7.17
£    £   
Trade creditors 1,244 1,403
Taxation and social security 14,163 14,172
Other creditors 43,330 39,984
58,737 55,559

8. ULTIMATE CONTROLLING PARTY

Mr M Idrees is the sole director and 50% shareholder in the company. Mrs S Idrees is the company secretary and
50% shareholder in the company.