Coates and Morgan Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04543826

Coates and Morgan Limited

Unaudited Financial Statements

for the Year Ended 30 April 2019

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

Chartered Accountants' Report

7

DIRECTORS:

Mr D Morgan

Mr R G Coates

Mr M Perkin

SECRETARY:

Mr D Morgan

REGISTERED OFFICE:

44-46 Regent Street

Rugby

Warwickshire

CV21 2PS

REGISTERED NUMBER:

04543826

ACCOUNTANTS:

Astute Services Ltd

44-46 Regent Street

Rugby

Warwickshire

CV21 2PS

FIXED ASSETS

Tangible assets

4

35,695

36,701

CURRENT ASSETS

Stocks

523,023

445,780

Debtors

5

-

8,488

Cash at bank

17,500

48

540,523

454,316

CREDITORS

Amounts falling due within one year

6

(271,273

)

(332,009

)

NET CURRENT ASSETS

269,250

122,307

TOTAL ASSETS LESS CURRENT LIABILITIES

304,945

159,008

PROVISIONS FOR LIABILITIES

7

(764

)

(956

)

NET ASSETS

304,181

158,052

CAPITAL AND RESERVES

Called up share capital

8

900

900

Retained earnings

9

303,281

157,152

SHAREHOLDERS' FUNDS

304,181

158,052

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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 applicable to companies subject to the small companies regime.

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 11 September 2019 and were signed on its behalf by:

Mr D Morgan - Director

Mr R G Coates - Director

1.	STATUTORY INFORMATION

Coates and Morgan Limited is a private company, limited by shares , registered in Not specified/Other. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Plant and machinery

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Long

Plant and

leasehold

machinery

Totals

£

£

£

COST

At 1 May 2018

and 30 April 2019

31,672

31,829

63,501

DEPRECIATION

At 1 May 2018

-

26,800

26,800

Charge for year

-

1,006

1,006

At 30 April 2019

-

27,806

27,806

NET BOOK VALUE

At 30 April 2019

31,672

4,023

35,695

At 30 April 2018

31,672

5,029

36,701

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/19

30/4/18

£

£

Directors' current accounts

-

8,488

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/19

30/4/18

£

£

Bank loans and overdrafts

238

36,169

Trade creditors

139,178

77,666

Tax

4,171

9,784

Social security and other taxes

2,390

20,091

VAT

29,547

36,332

Other creditors

13,196

151,967

Directors' current accounts

82,553

-

271,273

332,009

7.	PROVISIONS FOR LIABILITIES

30/4/19

30/4/18

£

£

Deferred tax

764

956

Deferred

tax

£

Balance at 1 May 2018

956

Credit to Income Statement during year

(192

)

Balance at 30 April 2019

764

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/4/19

30/4/18

value:

£

£

900

Ordinary

1

900

900

9.

RESERVES

Retained

earnings

£

At 1 May 2018

157,152

Profit for the year

147,629

Dividends

(1,500

)

At 30 April 2019

303,281

10.	TRANSACTIONS WITH THE DIRECTORS

The company operates from premises owned by the Coates & Morgan Partnership. This partnership is made up

of Mr RG Coates and Mr D Morgan who are the directors of the company. During the period, the company paid

rent of £46,200 (2017 - £46,200) to the directors.

During the period the company traded on a normal commercial basis with Barby Sporting Limited, a company

under common control.

Other creditors include £nil (2018 - £130,373) due to Barby Sporting Limited.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Coates and Morgan Limited for the year ended 30 April 2019 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Coates and Morgan Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Coates and Morgan Limited and state those matters that we have agreed to state to the Board of Directors of Coates and Morgan Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coates and Morgan Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Coates and Morgan Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Coates and Morgan Limited. You consider that Coates and Morgan Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Coates and Morgan Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Astute Services Ltd

44-46 Regent Street

Rugby

Warwickshire

CV21 2PS

Date: .............................................