IRIS Accounts Production v18.3.0.590 07242471 Board of Directors Board of Directors 1.6.17 31.5.18 31.5.18 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure072424712017-05-31072424712018-05-31072424712017-06-012018-05-31072424712016-05-31072424712016-06-012017-05-31072424712017-05-3107242471ns15:EnglandWales2017-06-012018-05-3107242471ns14:PoundSterling2017-06-012018-05-3107242471ns10:Director12017-06-012018-05-3107242471ns10:Director22017-06-012018-05-3107242471ns10:PrivateLimitedCompanyLtd2017-06-012018-05-3107242471ns10:SmallEntities2017-06-012018-05-3107242471ns10:AuditExempt-NoAccountantsReport2017-06-012018-05-3107242471ns10:SmallCompaniesRegimeForDirectorsReport2017-06-012018-05-3107242471ns10:SmallCompaniesRegimeForAccounts2017-06-012018-05-3107242471ns10:FullAccounts2017-06-012018-05-3107242471ns10:RegisteredOffice2017-06-012018-05-3107242471ns5:CurrentFinancialInstruments2018-05-3107242471ns5:CurrentFinancialInstruments2017-05-3107242471ns5:Non-currentFinancialInstruments2018-05-3107242471ns5:Non-currentFinancialInstruments2017-05-3107242471ns5:ShareCapital2018-05-3107242471ns5:ShareCapital2017-05-3107242471ns5:RetainedEarningsAccumulatedLosses2018-05-3107242471ns5:RetainedEarningsAccumulatedLosses2017-05-3107242471ns5:LeaseholdImprovements2017-06-012018-05-3107242471ns5:FurnitureFittings2017-06-012018-05-3107242471ns5:MotorVehicles2017-06-012018-05-3107242471ns5:ComputerEquipment2017-06-012018-05-3107242471ns5:LeaseholdImprovements2017-05-3107242471ns5:FurnitureFittings2017-05-3107242471ns5:MotorVehicles2017-05-3107242471ns5:ComputerEquipment2017-05-3107242471ns5:LeaseholdImprovements2018-05-3107242471ns5:FurnitureFittings2018-05-3107242471ns5:MotorVehicles2018-05-3107242471ns5:ComputerEquipment2018-05-3107242471ns5:LeaseholdImprovements2017-05-3107242471ns5:FurnitureFittings2017-05-3107242471ns5:MotorVehicles2017-05-3107242471ns5:ComputerEquipment2017-05-3107242471ns5:LeasedAssetsHeldAsLesseens5:MotorVehicles2017-05-3107242471ns5:LeasedAssetsHeldAsLesseens5:MotorVehicles2017-06-012018-05-3107242471ns5:LeasedAssetsHeldAsLesseens5:MotorVehicles2018-05-3107242471ns5:LeasedAssetsHeldAsLesseens5:MotorVehicles2017-05-3107242471ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-05-3107242471ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-05-31


REGISTERED NUMBER: 07242471 (England and Wales)

















Goodwin Fox Limited

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2018






Goodwin Fox Limited (Registered number: 07242471)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Goodwin Fox Limited

COMPANY INFORMATION
for the Year Ended 31 May 2018







DIRECTORS: Mrs K Goodwin
Mrs J Fox





REGISTERED OFFICE: 181 Queen Street
Withernsea
East Yorkshire
HU19 2JR





REGISTERED NUMBER: 07242471 (England and Wales)





ACCOUNTANTS: Southgates
Chartered Certified Accountants
Owthorne Manor
2 Hubert Street
Withernsea
East Yorkshire
HU19 2AT

Goodwin Fox Limited (Registered number: 07242471)

BALANCE SHEET
31 May 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,146 73,947

CURRENT ASSETS
Debtors 5 26,557 24,201
Cash at bank and in hand 14,419 39,244
40,976 63,445
CREDITORS
Amounts falling due within one year 6 78,614 82,328
NET CURRENT LIABILITIES (37,638 ) (18,883 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,508

55,064

CREDITORS
Amounts falling due after more than one
year

7

(9,499

)

(34,466

)

PROVISIONS FOR LIABILITIES (450 ) (625 )
NET ASSETS 3,559 19,973

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,459 19,873
SHAREHOLDERS' FUNDS 3,559 19,973

Goodwin Fox Limited (Registered number: 07242471)

BALANCE SHEET - continued
31 May 2018


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

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

The directors acknowledge their 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.

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 Board of Directors on 12 November 2018 and were signed on its behalf
by:




Mrs K Goodwin - Director



Mrs J Fox - Director


Goodwin Fox Limited (Registered number: 07242471)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2018

1. STATUTORY INFORMATION

Goodwin Fox Limited is a private company, limited by shares , registered in England and Wales. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to leasehold property - 20% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 2-3 years on cost less residual value
Computer equipment - 50% on cost

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Goodwin Fox Limited (Registered number: 07242471)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2018

2. ACCOUNTING POLICIES - continued

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,
as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that
evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 8 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Fixtures
leasehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2017 7,962 16,550 100,588 11,413 136,513
Disposals - (417 ) (15,720 ) - (16,137 )
At 31 May 2018 7,962 16,133 84,868 11,413 120,376
DEPRECIATION
At 1 June 2017 7,891 13,259 30,004 11,412 62,566
Charge for year 71 788 10,756 - 11,615
Eliminated on disposal - (285 ) (4,666 ) - (4,951 )
At 31 May 2018 7,962 13,762 36,094 11,412 69,230
NET BOOK VALUE
At 31 May 2018 - 2,371 48,774 1 51,146
At 31 May 2017 71 3,291 70,584 1 73,947

Goodwin Fox Limited (Registered number: 07242471)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2018

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 June 2017 100,588
Disposals (15,720 )
At 31 May 2018 84,868
DEPRECIATION
At 1 June 2017 30,004
Charge for year 10,756
Eliminated on disposal (4,666 )
At 31 May 2018 36,094
NET BOOK VALUE
At 31 May 2018 48,774
At 31 May 2017 70,584

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 21,150 19,103
Agents Mutual Loan 2,000 2,000
Prepayments 3,407 3,098
26,557 24,201

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Finance leases 45,101 42,693
Trade creditors 1,372 279
Tax 12,394 18,065
Social security and other taxes 5,140 4,776
VAT 12,454 14,051
Directors' current accounts 3 148
Accruals 2,150 2,316
78,614 82,328

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Finance leases 9,499 34,466