Cosy Homes Online.Com Limited - Period Ending 2016-05-31

Registration number: 04307102

Cosy Homes Online.Com Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

Carter Nicholls Ltd
Victoria House
Stanbridge Park
Staplefield Lane
Staplefield
West Sussex
RH17 6AS

Cosy Homes Online.Com Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

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 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Cosy Homes Online.Com Limited
for the Year Ended 31 May 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cosy Homes Online.Com Limited for the year ended 31 May 2016 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 http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Cosy Homes Online.Com 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 Cosy Homes Online.Com Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cosy Homes Online.Com Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Cosy Homes Online.Com 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 loss of Cosy Homes Online.Com Limited. You consider that Cosy Homes Online.Com 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 Cosy Homes Online.Com 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.

......................................

Carter Nicholls Ltd
Victoria House
Stanbridge Park
Staplefield Lane
Staplefield
West Sussex
RH17 6AS

24 February 2017

Page 1

Cosy Homes Online.Com Limited
(Registration number: 04307102)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					1,857			752,512
Current assets
Stocks					1,594,158			728,716
Debtors					57,462			71,888
Cash at bank and in hand					19,287			92,297
					1,670,907			892,901
Creditors: Amounts falling due within one year					(1,709,829)			(1,584,025)
Net current liabilities					(38,922)			(691,124)
Net (liabilities)/assets					(37,065)			61,388
Capital and reserves
Called up share capital		4			100			100
Revaluation reserve					-			70,497
Profit and loss account					(37,165)			(9,209)
Shareholders' (deficit)/funds					(37,065)			61,388

For the year ending 31 May 2016 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 director acknowledges her 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 .

Approved by the director on 24 February 2017

.........................................
Miss S F Marshall
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Cosy Homes Online.Com Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

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 January 2015).

Turnover

Turnover represents amounts chargeable 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
Office equipment	40% reducing balance
Website	25% reducing balance

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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.

Page 3

Cosy Homes Online.Com Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2015		776,598			776,598
Revaluations		(70,496)			(70,496)
Disposals		(679,504)			(679,504)
At 31 May 2016		26,598			26,598
Depreciation
At 1 June 2015		24,086			24,086
Charge for the year		655			655
At 31 May 2016		24,741			24,741
Net book value
At 31 May 2016		1,857			1,857
At 31 May 2015		752,512			752,512

3

Creditors

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

		2016 £			2015 £
Amounts falling due within one year		901,370			629,172

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4

Cosy Homes Online.Com Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

5	Related party transactions

Director's advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Miss S F Marshall
Loan from director	(806,790)	146,393	(953,183)	-

Page 5