Croome Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07384339 (England and Wales)

Croome Limited

Unaudited Financial Statements for the Year Ended 31 December 2016

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D Croome

L C D Croome

REGISTERED OFFICE:

C/o Mackrell Turner Garrett

Savoy Hill House

7-10 Savoy Hill

London

WC2R 0BU

BUSINESS ADDRESS:

Croome House

Cullet Drive

Queenborough

Kent

ME11 5JS

REGISTERED NUMBER:

07384339 (England and Wales)

ACCOUNTANTS:

Aggarwal & Co Limited

Chartered Accountants

5 London Road

Rainham

Gillingham

Kent

ME8 7RG

FIXED ASSETS

Tangible assets

4

12,169

14,770

CURRENT ASSETS

Stocks

24,753

4,590

Debtors

5

2,544,570

1,876,630

Cash at bank and in hand

131,088

71,886

2,700,411

1,953,106

CREDITORS

Amounts falling due within one year

6

2,619,664

1,886,249

NET CURRENT ASSETS

80,747

66,857

TOTAL ASSETS LESS CURRENT LIABILITIES

92,916

81,627

CAPITAL AND RESERVES

Called up share capital

7

50,002

50,002

Retained earnings

42,914

31,625

SHAREHOLDERS' FUNDS

92,916

81,627

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 25 September 2017 and were signed on its behalf by:

D Croome - Director

1.	STATUTORY INFORMATION

Croome Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income recognition

Turnover represents net invoiced sale of services, excluding value added tax. Turnover is recognised when the

company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

The Company enters into basic financial instruments that result in the recognition of financial assets and

liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and

loans to related parties.

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible

preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit

or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes

recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the average rate of exchange for each month.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2016

and 31 December 2016

24,646

1,360

26,006

DEPRECIATION

At 1 January 2016

10,579

657

11,236

Charge for year

2,465

136

2,601

At 31 December 2016

13,044

793

13,837

NET BOOK VALUE

At 31 December 2016

11,602

567

12,169

At 31 December 2015

14,067

703

14,770

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

2,492,178

1,796,715

Other debtors

52,392

79,915

2,544,570

1,876,630

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

2,364,151

1,693,563

Taxation and social security

60,628

39,019

Other creditors

194,885

153,667

2,619,664

1,886,249

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1,000

Ordinary

£1

50,002

50,002

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2016 and

31 December 2015:

2016

2015

£

£

D Croome

Balance outstanding at start of year

56,594

-

Amounts advanced

19,225

62,394

Amounts repaid

(58,938

)

(5,800

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

16,881

56,594

L C D Croome

Balance outstanding at start of year

85

2,188

Amounts advanced

6,643

13,669

Amounts repaid

(5,558

)

(15,772

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,170

85

9.	RELATED PARTY DISCLOSURES

During the year the following transactions took place with the following companies in which D Croome and L C

D Croome are directors:

Croome Holdings Ltd

£

Cost of sales and recharges from

242,303

Recharges to

1,695

Administration charge to

220,794

Trade debtor at 31.12.2016

1,601,567

Croome International Transport (Leeds) Ltd

£

Administration charge to

450

Trade debtor at 31.12.2016

310

During the year the following transactions took place with the following companies in which D Croome is a

director and controlling shareholder:

Croome European Express Ltd

£

Sales to

48,527

Cost of sales and recharges from

28,268

Trade debtor at 31.12.2016

215,572

UAB Croome International Transport (Lithuania)

£

Transport services from

2,076,800

Creditor at 31.12.2016

2,213,130

Croome International Transport Spolka ZOO ( Poland)

£

Transport services from

67,901

Trade creditor at 31.12.2016

39,419

Rent of £106,500 is charged to the Profit and Loss account and is payable to the David Croome Executive

Pension Scheme, a scheme in which the director Mr D Croome is a trustee.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is D Croome.

11.	FIRST YEAR ADOPTION

It is the first year that the company has presented its financial statements under FRS 102. The last financial

statements prepared under previous UK GAAP were for the year ended 31 December 2015 and the date of

transition to FRS 102 was therefore 1 January 2015.

As a consequence of adopting FRS 102, none of the accounting policies have changed to comply with those

standards.