Noble Manhattan Coaching Ltd - Period Ending 2018-12-31

Noble Manhattan Coaching Ltd - Period Ending 2018-12-31


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Registration number: 04363413

Noble Manhattan Coaching Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2018

Spirare Limited
Chartered Certified Accountants
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

 

Noble Manhattan Coaching Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Abridged Financial Statements

4 to 8

 

Noble Manhattan Coaching Ltd

Company Information

Directors

Mr Gerard Daniel Francis O'Donovan

Mrs Gail O'Donovan

Registered office

Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

Accountants

Spirare Limited
Chartered Certified Accountants
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

 

Noble Manhattan Coaching Ltd

(Registration number: 04363413)
Abridged Balance Sheet as at 31 December 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

247

661

Current assets

 

Stocks

5

204

300

Debtors

66,320

17,756

Cash at bank and in hand

 

21,654

27,997

 

88,178

46,053

Prepayments and accrued income

 

-

205

Creditors: Amounts falling due within one year

(23,040)

(6,694)

Net current assets

 

65,138

39,564

Total assets less current liabilities

 

65,385

40,225

Provisions for liabilities

(47)

6,999

Accruals and deferred income

 

(1,650)

(1,650)

Net assets

 

63,688

45,574

Capital and reserves

 

Called up share capital

6

100

100

Profit and loss account

63,588

45,474

Total equity

 

63,688

45,574

For the financial year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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.

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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Noble Manhattan Coaching Ltd

(Registration number: 04363413)
Abridged Balance Sheet as at 31 December 2018

Approved and authorised by the Board on 20 September 2019 and signed on its behalf by:
 

.........................................

Mr Gerard Daniel Francis O'Donovan
Director

.........................................

Mrs Gail O'Donovan
Director

 

Noble Manhattan Coaching Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2018

1

General information

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

The address of its registered office is:
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

These financial statements were authorised for issue by the Board on 20 September 2019.

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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.

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;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

 

Noble Manhattan Coaching Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2018

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 statement of financial position 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

Plant and machinery

25% Straight line basis

Fixtures and fittings

25% Straight line basis

Cash and cash equivalents

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

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Noble Manhattan Coaching Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2018

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 defer 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2017 - 1).

 

Noble Manhattan Coaching Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2018

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2018

4,437

21,850

26,287

At 31 December 2018

4,437

21,850

26,287

Depreciation

At 1 January 2018

4,437

21,189

25,626

Charge for the year

-

414

414

At 31 December 2018

4,437

21,603

26,040

Carrying amount

At 31 December 2018

-

247

247

At 31 December 2017

-

661

661

5

Stocks

2018
£

2017
£

Finished goods and goods for resale

204

300

6

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

7

Related party transactions

Transactions with directors

2018

At 1 January 2018
£

Advances to directors
£

Repayments by director
£

At 31 December 2018
£

Mr Gerard Daniel Francis O'Donovan

The director maintains an interest free loan account with the company which is repayable on demand

(2,222)

(26,808)

29,492

462

         
       

 
 

Noble Manhattan Coaching Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2018

2017

At 1 January 2017
£

Advances to directors
£

Repayments by director
£

At 31 December 2017
£

Mr Gerard Daniel Francis O'Donovan

The director maintains an interest free loan account with the company which is repayable on demand

12,422

(16,162)

1,518

(2,222)