Cobe Consulting Limited - Period Ending 2016-06-30

Registration number: 4114093

Cobe Consulting Limited

Unaudited Abbreviated Accounts

30 June 2016
 

Cobe Consulting Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 6

Cobe Consulting Limited
abbreviated balance sheet
30 June 2016

		Note			2016						2015 £
	£			£
Fixed assets
Tangible fixed assets								1,617,875			1,628,106
Investments								14,056			22,163
								1,631,931			1,650,269
Current assets
Debtors					1,459,252						412,557
Cash at bank and in hand					59,492						2,861
					1,518,744						415,418
Creditors: Amounts falling due within one year					(850,760)						(626,164)
Net current assets/(liabilities)								667,984			(210,746)
Total assets less current liabilities								2,299,915			1,439,523
Creditors: Amounts falling due after more than one year								(2,066,103)			(1,252,217)
Provisions for liabilities								(455)			(247)
Net assets								233,357			187,059
Capital and reserves
Called up share capital		4			45						45
Profit and loss account					233,312						187,014
Shareholders' funds								233,357			187,059

The notes on pages 3 to 6 form an integral part of these financial statements.
1

Cobe Consulting Limited
abbreviated balance sheet ......... continued
30 June 2016

For the year ending 30 June 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 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.

Approved by the Board on 30 March 2017 and signed on its behalf by:

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

Company Registration Number: 4114093

The notes on pages 3 to 6 form an integral part of these financial statements.
2

Cobe Consulting Limited
Notes to the Abbreviated Accounts
Year Ended 30 June 2016

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).

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

3

Cobe Consulting Limited
Notes to the Abbreviated Accounts
Year Ended 30 June 2016

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.

4

Cobe Consulting Limited
Notes to the Abbreviated Accounts
Year Ended 30 June 2016

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 July 2015		1,772,975			22,163			1,795,138
Revaluations		-			(8,107)			(8,107)
At 30 June 2016		1,772,975			14,056			1,787,031
Depreciation
At 1 July 2015		144,869			-			144,869
Charge for the year		10,231			-			10,231
At 30 June 2016		155,100			-			155,100
Net book value
At 30 June 2016		1,617,875			14,056			1,631,931
At 30 June 2015		1,628,106			22,163			1,650,269

3

Creditors

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

		2016 £			2015 £
Amounts falling due within one year		35,516			312,580
Amounts falling due after more than one year		2,066,103			1,252,217
Total secured creditors		2,101,619			1,564,797

5

Cobe Consulting Limited
Notes to the Abbreviated Accounts
Year Ended 30 June 2016

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		45			45			45			45

6