Cobe Consulting Limited - Period Ending 2015-06-30

Registration number: 4114093

Cobe Consulting Limited

Unaudited Abbreviated Accounts

30 June 2015
 

Cobe Consulting Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 7

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 7) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Cobe Consulting Limited
for the Year Ended 30 June 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cobe Consulting Limited for the year ended 30 June 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Cobe Consulting Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Cobe Consulting Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cobe Consulting Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Cobe Consulting 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 Cobe Consulting Limited. You consider that Cobe Consulting 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 Cobe Consulting 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 statutory accounts.

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Cobe Consulting Limited
abbreviated balance sheet
30 June 2015

		Note			2015						2014 £
	£			£
Fixed assets
Tangible fixed assets								1,628,105			1,627,226
Investments								22,163			19,304
								1,650,268			1,646,530
Current assets
Debtors					412,557						218,329
Cash at bank and in hand					2,861						14,343
					415,418						232,672
Creditors: Amounts falling due within one year					(626,165)						(317,857)
Net current liabilities								(210,747)			(85,185)
Total assets less current liabilities								1,439,521			1,561,345
Creditors: Amounts falling due after more than one year								(1,252,217)			(1,390,606)
Provisions for liabilities								(247)			-
Net assets								187,057			170,739
Capital and reserves
Called up share capital		4			45						45
Profit and loss account					187,012						170,694
Shareholders' funds								187,057			170,739

For the year ending 30 June 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

The notes on pages 4 to 7 form an integral part of these financial statements.
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Cobe Consulting Limited
abbreviated balance sheet ......... continued
30 June 2015

Approved by the Board on 24 March 2016 and signed on its behalf by:

.........................................
Mr A Broadhurst
Director

Company Registration Number: 4114093

The notes on pages 4 to 7 form an integral part of these financial statements.
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Cobe Consulting Limited
Notes to the Abbreviated Accounts
Year Ended 30 June 2015

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold property	2% Straight line
Plant & machinery	20% Reducing balance
Office equipment	25% Reducing balance
Computer equipment	33% Reducing balance

Investment properties

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Cobe Consulting Limited
Notes to the Abbreviated Accounts
Year Ended 30 June 2015

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

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Cobe Consulting Limited
Notes to the Abbreviated Accounts
Year Ended 30 June 2015

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 July 2014		1,760,655			19,304			1,779,959
Revaluations		-			2,859			2,859
Additions		12,319			-			12,319
At 30 June 2015		1,772,974			22,163			1,795,137
Depreciation
At 1 July 2014		133,429			-			133,429
Charge for the year		11,440			-			11,440
At 30 June 2015		144,869			-			144,869
Net book value
At 30 June 2015		1,628,105			22,163			1,650,268
At 30 June 2014		1,627,226			19,304			1,646,530

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		312,580			109,598
Amounts falling due after more than one year		1,252,217			1,390,606
Total secured creditors		1,564,797			1,500,204

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Cobe Consulting Limited
Notes to the Abbreviated Accounts
Year Ended 30 June 2015

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		45			45			45			45

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