| Cordel Trading Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Cordel Trading Limited for the year ended 31 March 2015 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Cordel Trading Limited for the year ended 31 March 2015 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
| This report is made solely to the Board of Directors of Cordel Trading Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Cordel Trading Limited and state those matters that we have agreed to state to the Board of Directors of Cordel Trading Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cordel Trading Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Cordel Trading Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Cordel Trading Limited. You consider that Cordel Trading 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 accounts of Cordel Trading 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 abbreviated accounts. |
|
| Rossiter Smith & Co. |
| Chartered Accountants |
| Bank House |
| 1 Burlington Road |
| Bristol |
| BS6 6TJ |
|
| 23 November 2015 |
|
| Cordel Trading Limited |
| Registered number: |
07205684 |
| Abbreviated Balance Sheet |
| as at 31 March 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
250,000 |
|
|
300,000 |
| Tangible assets |
3 |
|
|
3,327 |
|
|
3,446 |
|
|
|
|
253,327 |
|
|
303,446 |
|
| Current assets |
| Debtors |
|
|
39,455 |
|
|
49,669 |
| Cash at bank and in hand |
|
|
600,416 |
|
|
433,176 |
|
|
|
639,871 |
|
|
482,845 |
|
| Creditors: amounts falling due within one year |
|
|
(79,305) |
|
|
(87,472) |
|
| Net current assets |
|
|
|
560,566 |
|
|
395,373 |
|
| Total assets less current liabilities |
|
|
|
813,893 |
|
|
698,819 |
|
|
| Provisions for liabilities |
|
|
|
(372) |
|
|
(396) |
|
|
| Net assets |
|
|
|
813,521 |
|
|
698,423 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
813,421 |
|
|
698,323 |
|
| Shareholder's funds |
|
|
|
813,521 |
|
|
698,423 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| N S C Cordel |
| Director |
| Approved by the board on 23 November 2015 |
|
| Cordel Trading Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
25% reducing balance and 3 years straight line |
|
|
Goodwill |
|
Goodwill is included in the accounts at cost. Amortisation is provided at the rate of 10% on a straight line basis in order to write off the cost of goodwill over its useful economic life. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2014 |
500,000 |
|
At 31 March 2015 |
500,000 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2014 |
200,000 |
|
Provided during the year |
50,000 |
|
At 31 March 2015 |
250,000 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2015 |
250,000 |
|
At 31 March 2014 |
300,000 |
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2014 |
9,339 |
|
Additions |
1,876 |
|
At 31 March 2015 |
11,215 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2014 |
5,893 |
|
Charge for the year |
1,995 |
|
At 31 March 2015 |
7,888 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2015 |
3,327 |
|
At 31 March 2014 |
3,446 |
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
