C B Collier FD Limited - Period Ending 2019-05-31
C B Collier FD Limited - Period Ending 2019-05-31
Registration number:
C B Collier FD Limited
for the
Year Ended 31 May 2019
Bewell House
Bewell Street
Hereford
Herefordshire
HR4 0BA
C B Collier FD Limited
(Registration number: 10677539)
Balance Sheet as at 31 May 2019
Note |
2019 |
2018 |
|
Current assets |
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Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Profit and loss account |
88,794 |
53,618 |
|
Total equity |
88,894 |
53,718 |
For the financial year ending 31 May 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
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.
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C B Collier FD Limited
(Registration number: 10677539)
Balance Sheet as at 31 May 2019
(continued)
Approved and authorised by the
.........................................
Director
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C B Collier FD Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2019
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
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C B Collier FD Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2019
(continued)
2 |
Accounting policies (continued) |
Tax
Taxation represents the sum of tax currently payable and deferred tax.
The company's liability for current tax is calculated using tax rates that have been enacted or substantially enacted by the end of the reporting period.
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantially enacted by the end of the reporting period.
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.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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C B Collier FD Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2019
(continued)
Stocks |
2019 |
2018 |
|
Work in progress |
|
- |
Other inventories |
- |
|
|
|
Debtors |
2019 |
2018 |
|
Prepayments |
|
|
Other debtors |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
2019 |
2018 |
|
Due within one year |
||
Trade creditors |
|
|
Accruals and deferred income |
|
|
Other creditors |
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
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C B Collier FD Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2019
(continued)
7 |
Share capital (continued) |
2019 |
2018 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Loans and borrowings |
Other borrowings
The carrying amount of at year end is £2,283,942 (2018 - £2,140,149). The third party loan is from Atlas Trust Company Limited as Trustees of The Codex Trust, Codex Capital Investments Limited and Brett Palos Capital Limited. It totals £2,283,942 and is secured by a charge over all the assets of the company. The loan has interest being charged at 7% and is repayable on demand. |
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