The Cotton Print Factory Shop Limited Filleted accounts for Companies House (small and micro)
The Cotton Print Factory Shop Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
NI015551
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Financial Statements |
Year ended 31st July 2018
Contents |
Page |
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements |
1 |
Statement of financial position |
2 |
Notes to the financial statements |
4 |
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Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
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Year ended 31st July 2018
43 Lockview Road
Stranmillis
Belfast
BT9 5FJ
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Statement of Financial Position |
2018 |
2017 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Stocks |
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Debtors |
6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
7 |
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Net current assets |
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Total assets less current liabilities |
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Provisions
Taxation including deferred tax |
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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
25 April 2019
, and are signed on behalf of the board by:
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Director |
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Company registration number:
NI015551
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Notes to the Financial Statements |
Year ended 31st July 2018
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 16/18 Dargan Crescent, Belfast, BT3 9JP, Northern Ireland.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Finance leases and hire purchase contracts
Provisions
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
19
(2017:
26
).
5.
Tangible assets
Leasehold improvements |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1st August 2017 |
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Additions |
– |
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– |
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At 31st July 2018 |
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Depreciation |
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At 1st August 2017 |
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Charge for the year |
– |
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At 31st July 2018 |
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Carrying amount |
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At 31st July 2018 |
– |
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At 31st July 2017 |
– |
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6.
Debtors
2018 |
2017 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
– |
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7.
Creditors:
amounts falling due within one year
2018 |
2017 |
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£ |
£ |
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Trade creditors |
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Amounts owed to group undertakings |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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8.
Financial instruments at fair value
The company has no financial instruments.
9.
Related party transactions
The company has taken advantage of the exemption under the terms of FRS 102 section 1A, from disclosing related party transactions with entities that are wholly owned subsidiaries of the Talbot Textile & Upholstery Supply Co. Limited group of companies. The following companies are considered related parties for the purposes of Financial Reporting Standards 102:- Company: Relationship: Fibre Naturelle Ltd Common control Amounts owed by the company (included in note 7)
2018 | 2017 | ||
£ | £ | ||
Fibre Naturelle Ltd | 2,225 | – | |
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10.
Controlling party
The immediate parent and ultimate holding company is Talbot Textile & Upholstery Supply Co. Limited, a company registered in Northern Ireland, which is controlled by
Mr Ronald Kelly
and Mrs Dorothea Kelly and, who together own 100% of the issued share capital.