Coracow Limited Filleted accounts for Companies House (small and micro)

Coracow Limited Filleted accounts for Companies House (small and micro)


0 false false false false false false false false false true false false false false false false No description of principal activity 2020-01-01 Sage Accounts Production Advanced 2020 - FRS102_2019 48,836 5,607 54,443 54,443 48,836 xbrli:pure xbrli:shares iso4217:GBP 07856643 2020-01-01 2020-12-31 07856643 2020-12-31 07856643 2019-12-31 07856643 2019-01-01 2019-12-31 07856643 2019-12-31 07856643 bus:OrdinaryShareClass1 2020-01-01 2020-12-31 07856643 bus:Director1 2020-01-01 2020-12-31 07856643 core:WithinOneYear 2020-12-31 07856643 core:WithinOneYear 2019-12-31 07856643 core:LandBuildings core:OwnedOrFreeholdAssets 2020-01-01 2020-12-31 07856643 core:ShareCapital 2020-12-31 07856643 core:ShareCapital 2019-12-31 07856643 core:RetainedEarningsAccumulatedLosses 2020-12-31 07856643 core:RetainedEarningsAccumulatedLosses 2019-12-31 07856643 core:LandBuildings core:OwnedOrFreeholdAssets 2020-12-31 07856643 core:LandBuildings core:OwnedOrFreeholdAssets 2019-12-31 07856643 core:LandBuildings core:OwnedOrFreeholdAssets 2019-12-31 07856643 bus:SmallEntities 2020-01-01 2020-12-31 07856643 bus:AuditExemptWithAccountantsReport 2020-01-01 2020-12-31 07856643 bus:FullAccounts 2020-01-01 2020-12-31 07856643 bus:SmallCompaniesRegimeForAccounts 2020-01-01 2020-12-31 07856643 bus:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31 07856643 bus:OrdinaryShareClass1 2020-12-31 07856643 bus:OrdinaryShareClass1 2019-12-31
COMPANY REGISTRATION NUMBER: 07856643
CORACOW LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2020
CORACOW LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 3
CORACOW LIMITED
BALANCE SHEET
31 December 2020
2020
2019
Note
£
£
Fixed assets
Tangible assets
4
54,443
48,836
Current assets
Cash at bank and in hand
93,302
26,556
Creditors: amounts falling due within one year
5
( 148,388)
( 76,127)
------------
------------
Net current liabilities
( 55,086)
( 49,571)
------------
------------
Total assets less current liabilities
( 643)
( 735)
------------
------------
Net liabilities
( 643)
( 735)
------------
------------
Capital and reserves
Called up share capital
6
1
1
Profit and loss account
( 644)
( 736)
------------
------------
Shareholders deficit
( 643)
( 735)
------------
------------
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 profit and loss account has not been delivered.
For the year ending 31 December 2020 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 were approved by the board of directors and authorised for issue on 17 September 2021 , and are signed on behalf of the board by:
Mrs M C Scott Director
Company registration number: 07856643
CORACOW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Higher Lydgate Park, Grasscroft, Oldham, OL4 4EF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Freehold property
£
Cost
At 1 January 2020
48,836
Additions
5,607
------------
At 31 December 2020
54,443
------------
Depreciation
At 1 January 2020 and 31 December 2020
------------
Carrying amount
At 31 December 2020
54,443
------------
At 31 December 2019
48,836
------------
Included in the cost of land and buildings is freehold land of £53,543 (2019: £48,836) which is not depreciated.
5. Creditors: amounts falling due within one year
2020
2019
£
£
Accruals and deferred income
420
660
Other creditors
30,000
Directors' loan account
147,968
45,467
------------
------------
148,388
76,127
------------
------------
6. Called up share capital
Issued, called up and fully paid
2020
2019
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
------------
------------
------------
------------
7. Related party transactions
Transactions with directors The directors' loan account of £147,968 (2019: £45,467) set out at note 6 above is unsecured, repayable on demand and currently interest free. Included within other creditors is an amount of £Nil (2019: £30,000) in respect of an outstanding loan owed to Domalo Limited. This loan was unsecured, repayable on demand and currently interest-free. This company had common directors and shareholders.
8. Ultimate controlling party
There is no one controlling party of the company.