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Registration number: 07172029

R Goodwin Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

R Goodwin Consulting Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

R Goodwin Consulting Limited

Company Information

Director

Richard Goodwin

Registered office

70 Royal Hill
Greenwich
London
SE10 8RF

Accountants

Field Sullivan Limited
70 Royal Hill
Greenwich
London
SE10 8RF

 

R Goodwin Consulting Limited

(Registration number: 07172029)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

fixed assets

 

tangible assets

5

94

142

Current assets

 

Debtors

6

31,923

500

Cash at bank and in hand

 

4,393

7,596

 

36,316

8,096

Creditors: Amounts falling due within one year

7

(18,105)

(14,740)

Net current assets/(liabilities)

 

18,211

(6,644)

Total assets less current liabilities

 

18,305

(6,502)

Provisions for liabilities

4

(18)

(27)

Net assets/(liabilities)

 

18,287

(6,529)

capital and reserves

 

Called up share capital

8

1

1

Profit and loss account

18,286

(6,530)

Total equity

 

18,287

(6,529)

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

R Goodwin Consulting Limited

(Registration number: 07172029)
Balance Sheet as at 31 March 2022

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 9 August 2022
 

.........................................
Richard Goodwin
Director

 

R Goodwin Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
70 Royal Hill
Greenwich
London
SE10 8RF

The principal place of business is:
195 Shooters Hill Road
London
SE3 8UL

These financial statements were authorised for issue by the director on 9 August 2022.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods..

 

R Goodwin Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
Income is recognised when the service is delivered, where the service being is delivered straddles the accounting period end the income is apportioned on a pro rata basis.

Tax

The tax expenses for the period comprises current tax. Tax is recognised in profit or loss, 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 income 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investements that are readily convertible to a known amount of cash and subject to an insignificant risk of change in value.

 

R Goodwin Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or 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.

Trade 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 dfeere 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.

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.

Dividends

Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

 

R Goodwin Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

4

Taxation

Tax charged/(credited) in the income statement

2022
£

2021
£

Current taxation

UK corporation tax

11,694

8,844

Deferred taxation

Arising from origination and reversal of timing differences

(9)

(94)

Tax expense in the income statement

11,685

8,750

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2021

3,565

3,565

Disposals

(1,545)

(1,545)

At 31 March 2022

2,020

2,020

Depreciation

At 1 April 2021

3,423

3,423

Charge for the year

48

48

Eliminated on disposal

(1,545)

(1,545)

At 31 March 2022

1,926

1,926

Carrying amount

At 31 March 2022

94

94

At 31 March 2021

142

142

6

Debtors

2022
£

2021
£

Trade debtors

31,923

-

Other debtors

-

500

 

31,923

500

 

R Goodwin Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

7

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Taxation and social security

17,590

14,285

Accruals and deferred income

495

455

Other creditors

20

-

18,105

14,740

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

9

Dividends

   

2022

 

2021

   

£

 

£

Interim dividend of £25,000.00 (2021 - £32,500.00) per ordinary share

 

25,000

 

32,500

         
 

R Goodwin Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

10

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2022
£

2021
£

Contributions paid to money purchase schemes

4,000

1,300

Summary of transactions with other related parties

Richard Goodwin
 (Director)
 During the year Richard received dividends of £25,000 (2021: £32,500), the director also paid business expenditure personally of £520 (2021: £nil). At the balance sheet date there was £20 (2021: £500 due from the director) due to Richard Goodwin.