Corad Group Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08285628 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2018

for

Corad Group Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

O Korf

REGISTERED OFFICE:

Birchin Court

20 Birchin Lane

London

EC3V 9DJ

REGISTERED NUMBER:

08285628 (England and Wales)

ACCOUNTANTS:

Adbell International Limited

Birchin Court

20 Birchin Lane

London

EC3V 9DJ

FIXED ASSETS

Tangible assets

3

-

-

Investments

4

29,793

29,843

29,793

29,843

CURRENT ASSETS

Debtors

5

9,938

29,560

Cash at bank and in hand

114,546

16,201

124,484

45,761

CREDITORS

Amounts falling due within one year

6

(28,595

)

(18,065

)

NET CURRENT ASSETS

95,889

27,696

TOTAL ASSETS LESS CURRENT LIABILITIES

125,682

57,539

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Retained earnings

124,682

56,539

SHAREHOLDERS' FUNDS

125,682

57,539

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 30 July 2019 and were signed by:

O Korf - Director

1.	STATUTORY INFORMATION

Corad Group Ltd 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

The financial statements have been prepared in accordance with Financial Reporting Standard 102 "The

Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Companies

Act 2006. The financial statements have been prepared under the historical cost convention except for the

modification to fair value for the revaluation of the investment property.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

The accounting policies have been consistently applied within the financial statements.

The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used

previously.

The nature of these changes and their impact on opening equity and profit for the comparative period are

explained in the notes.

The company's functional and presentation currency is £ Sterling.

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards

(United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as

otherwise stated).

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Office Equipment 33.3%

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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

lease.

Turnover

Turnover represents amounts receivable from consultancy services net of VAT and trade discounts.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company

becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there

is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or

to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially

measured at transaction price including transaction costs and are subsequently carried at amortised cost using the

effective interest method unless the arrangement constitutes a financing transaction, where the transaction is

measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of

the company after deducting all of its liabilities.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group

companies and preference shares that are classified as debt, are initially recognised at transaction price unless the

arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the

future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payment is due within one year or

less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of

the company.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are

required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are

received.

Termination benefits are recognised immediately as an expense when the company is demonstrably

committed to terminate the employment of an employee or to provide termination benefits.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a

straight line basis over the term of the relevant lease except where another more systematic basis is more

representative of the time pattern in which economic benefits from the lease asset are consumed.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2017

and 31 October 2018

2,120

DEPRECIATION

At 1 November 2017

and 31 October 2018

2,120

NET BOOK VALUE

At 31 October 2018

-

4.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.10.18

31.10.17

£

£

Gold coins

29,793

29,843

The market values as at 31 October 2018 and as at 31 October 2017 were determined by the bank of england

spot rate at those dates.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Trade debtors

-

18,153

Other debtors

9,938

11,407

9,938

29,560

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Bank loans and overdrafts

7,104

5,845

Taxation and social security

20,253

11,420

Other creditors

1,238

800

28,595

18,065

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.10.18

31.10.17

value:

£

£

1,000

Share capital 1

£1

1,000

1,000

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is O Korf.