We are Coco Ltd - Period Ending 2016-08-31

Registration number: 04263566

We are Coco Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

Pillow May Ltd
Chartered Accountants
The Coach House
Bremhill Grove Farm
East Tytherton
Chippenham
Wiltshire
SN15 4LX

We are Coco Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

We are Coco Ltd
(Registration number: 04263566)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					906			440
Current assets
Debtors					16,882			16,812
Cash at bank and in hand					18,607			28,753
					35,489			45,565
Creditors: Amounts falling due within one year					(34,546)			(35,910)
Net current assets					943			9,655
Total assets less current liabilities					1,849			10,095
Provisions for liabilities					(181)			(88)
Net assets					1,668			10,007
Capital and reserves
Called up share capital		3			103			103
Share premium account					132			132
Profit and loss account					1,433			9,772
Shareholders' funds					1,668			10,007

For the year ending 31 August 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 .

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

We are Coco Ltd
(Registration number: 04263566)
Abbreviated Balance Sheet at 31 August 2016
......... continued

Approved by the Board on 19 April 2017 and signed on its behalf by:

.........................................
Mrs M Waters
Director

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

We are Coco Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 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, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Negative goodwill is included within fixed assets and released to the profit and loss account in the periods in which the fair values of the non-monetary assets purchased on the same acquisition are recovered, whether through sale or depreciation.

Amortisation

The trade name has been fully written down to its recoverable value

Asset class	Amortisation method and rate
Trade Name	100%

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
Computer Equipment	25% Reducing balance

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.

Page 3

We are Coco Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 September 2015		100			1,119			1,219
Additions		-			691			691
Disposals		(100)			-			(100)
At 31 August 2016		-			1,810			1,810
Depreciation
At 1 September 2015		100			679			779
Charge for the year		-			225			225
Eliminated on disposals		(100)			-			(100)
At 31 August 2016		-			904			904
Net book value
At 31 August 2016		-			906			906
At 31 August 2015		-			440			440

Page 4

We are Coco Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A class shares of £1 each		100			100			100			100
Ordinary B class shares of £1 each		3			3			3			3
		103			103			103			103

Page 5