Coaction Management Ltd - Period Ending 2016-12-31

Registration number: 07249933

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Coaction Management Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2016

KRW Accountants Ltd
Chartered Accountants & Tax Advisers
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

Coaction Management Ltd

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Financial Statements	4 to 7

Coaction Management Ltd

Company Information

Director

Mr Michael Ian Rhodes

Registered office

15 Gayhurst House Gayhurst Court Gayhurst Newport Pagnell MK16 8LG

Accountants

KRW Accountants Ltd Chartered Accountants & Tax Advisers The Mill Pury Hill Business Park Alderton Road Towcester NN12 7LS

Page 1

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Coaction Management Ltd
for the Year Ended 31 December 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Coaction Management Ltd for the year ended 31 December 2016 as set out on pages 3 to 7 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 Coaction Management Ltd, 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 Coaction Management Ltd and state those matters that we have agreed to state to the Board of Directors of Coaction Management Ltd, 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 Coaction Management Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Coaction Management Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Coaction Management Ltd. You consider that Coaction Management Ltd 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 Coaction Management Ltd. 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.

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

KRW Accountants Ltd
Chartered Accountants & Tax Advisers
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

26 September 2017

Page 2

Coaction Management Ltd

(Registration number: 07249933)
Balance Sheet as at 31 December 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	4	403	403
Current assets
Debtors	5	5,448	5,448
Cash at bank and in hand		6,162	6,162
		11,610	11,610
Creditors: Amounts falling due within one year	6	(11,445)	(11,445)
Net current assets		165	165
Net assets		568	568
Capital and reserves
Called up share capital		100	100
Profit and loss account		468	468
Total equity		568	568

For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 26 September 2017
 

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

Mr Michael Ian Rhodes

Director

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 3

Coaction Management Ltd

Notes to the Financial Statements for the Year Ended 31 December 2016

1	General information

The company is a private company limited by share capital incorporated in England.

The company registration number is 07249933

The address of its registered office is:
15 Gayhurst House
Gayhurst Court
Gayhurst
Newport Pagnell
MK16 8LG

The principal place of business is:
Blackhill Drive
Wolverton Mill
Milton Keynes
MK12 5TS

These financial statements were authorised for issue by the director on 26 September 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office Equipment	20% reducing balance

Page 4

Coaction Management Ltd

Notes to the Financial Statements for the Year Ended 31 December 2016

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2015 - 1).

Page 5

Coaction Management Ltd

Notes to the Financial Statements for the Year Ended 31 December 2016

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2016	880	880
At 31 December 2016	880	880
Depreciation
At 1 January 2016	477	477
At 31 December 2016	477	477
Carrying amount
At 31 December 2016	403	403
At 31 December 2015	403	403

5

Debtors

	2016 £	2015 £
Trade debtors	5,448	5,448
Total current trade and other debtors	5,448	5,448

6

Creditors

	Note	2016 £	2015 £
Due within one year
Trade creditors		1,303	1,303
Amounts owed to group undertakings and undertakings in which the company has a participating interest		4,479	4,479
Taxation and social security		1,391	1,392
Other creditors		4,272	4,271
		11,445	11,445

7	Share capital

Allotted, called up and fully paid shares

Page 6

Coaction Management Ltd

Notes to the Financial Statements for the Year Ended 31 December 2016

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

8

Dividends

	2016	2015
	£	£
Final dividend of £Nil (2015 - £75.00) per ordinary share	-	-

9	Transition to FRS 102

This is the first year that the company has presented its results under FRS102a. The last financial statements under UK GAAP were for the year ended 31 December 2015. The date of transition to FRS102a was 1 January 2015. There were no changes to the profit following the changes in accounting policies for the financial year 31 December 2015 and no changes to the total equity as at 1 January 2015 and 31 December 2015 between UK GAAP as previously reported and FRS102a

Page 7