Cordello Home Limited 31/05/2022 iXBRL

Cordello Home Limited 31/05/2022 iXBRL

CORDELLO HOME LIMITED - Company Information

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Company registration number: 08695172
Cordello Home Limited
Unaudited filleted financial statements
31 May 2022
Cordello Home Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Cordello Home Limited
Directors and other information
Directors Mr D Shaw
Mrs K Shaw
Secretary Mrs K Shaw
Company number 08695172
Registered office 145 City Road
2nd Floor
London
EC1V 1AZ
Cordello Home Limited
Statement of financial position
31 May 2022
2022 2021
Note £ £ £ £
Current assets
Stocks - 2,053
Debtors 4 100 1,015
Cash at bank and in hand - 274
_______ _______
100 3,342
Creditors: amounts falling due
within one year 5 ( 1,380) ( 1,780)
_______ _______
Net current (liabilities)/assets ( 1,280) 1,562
_______ _______
Total assets less current liabilities ( 1,280) 1,562
_______ _______
Net (liabilities)/assets ( 1,280) 1,562
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 1,380) 1,462
_______ _______
Shareholders (deficit)/funds ( 1,280) 1,562
_______ _______
For the year ending 31 May 2022 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 August 2022 , and are signed on behalf of the board by:
Mrs K Shaw
Director
Company registration number: 08695172
Cordello Home Limited
Notes to the financial statements
Year ended 31 May 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 145 City Road, 2nd Floor, London, EC1V 1AZ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
After reviewing the company’s forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
2022 2021
£ £
Trade debtors - 547
Other debtors 100 468
_______ _______
100 1,015
_______ _______
5. Creditors: amounts falling due within one year
2022 2021
£ £
Other creditors 1,380 1,780
_______ _______
6. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr D Shaw - ( 780) ( 780)
_______ _______ _______
2021
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr D Shaw - - -
_______ _______ _______