Coombs of Medway Limited - Accounts

COOMBS OF MEDWAY LIMITED - Company Information

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Registered Number: 07026323

England

Abridged Accounts

for the year ended 31 December 2021

for

COOMBS OF MEDWAY LIMITED

Coombs of Medway Limited
Contents Page
For the year ended 31 December 2021

Statement of financial position	1
Notes to the financial statements	2

Coombs of Medway Limited
Statement of Financial Position
As at 31 December 2021

	2021 £	2020 £
Fixed assets
Tangible fixed assets	1,027	1,284
	1,027	1,284
Current assets
Stocks	70,795	166,200
Debtors	3,773	220
Cash at bank and in hand	72,351	62,600
	146,919	229,020
Creditors: amount falling due within one year	(15,755)	(48,373)
Net current assets	131,164	180,647

Total assets less current liabilities	132,191	181,931
Creditors: amount falling due after more than one year	-	(50,000)
Provisions for liabilities	(195)	(244)
Net assets	131,996	131,687

Capital and reserves
Called up share capital	1	1
Profit and loss account	131,995	131,686
Shareholder's funds	131,996	131,687

For the year ended 31 December 2021 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.
The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the board of directors on 18 July 2022 and were signed on its behalf by:

--------------------------------
J Coombs
Director

Coombs of Medway Limited
Notes to the Abridged Financial Statements
For the year ended 31 December 2021

General Information

Coombs of Medway Limited is a private company, limited by shares, registered in England, registration number 07026323, registration address 4 Sirling House, Sunderland Quay, Culpeper Close, Medway City Estate, Rochester, Kent, ME2 4HN

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment	20% Reducing Balance
Fixtures and Fittings	20% Reducing Balance
Motor Vehicles	20% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.	Average number of employees Average number of employees during the year was 3 (2020 : 2).

Tangible fixed assets

Cost or valuation	Computer Equipment	Motor Vehicles	Fixtures and Fittings	Total
	£	£	£	£
At 01 January 2021	1,310	5,250	2,251	8,811
Additions	-	-	-	-
Disposals	-	-	-	-
At 31 December 2021	1,310	5,250	2,251	8,811
Depreciation
At 01 January 2021	816	4,795	1,916	7,527
Charge for year	99	91	67	257
On disposals	-	-	-	-
At 31 December 2021	915	4,886	1,983	7,784
Net book values
Closing balance as at 31 December 2021	395	364	268	1,027
Opening balance as at 01 January 2021	494	455	335	1,284