Coyne Group UK Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04246869 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Coyne Group Uk Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

M A P Coyne

SECRETARY:

Mrs M Germaine-Coyne

REGISTERED OFFICE:

High Trees

Cadbury Camp Lane

Clapton in Gordano

Bristol

North Somerset

BS20 7SA

REGISTERED NUMBER:

04246869 (England and Wales)

ACCOUNTANTS:

Stanley Joseph Limited

Chartered Accountants

Suite 1

Liberty House

South Liberty Lane

Bristol

BS3 2ST

FIXED ASSETS

Property, plant and equipment

4

101,792

87,752

Investments

5

5

1,005

101,797

88,757

CURRENT ASSETS

Debtors

6

1,091,228

406,225

Cash at bank

38,299

10,550

1,129,527

416,775

CREDITORS

Amounts falling due within one year

7

2,176,244

1,589,248

NET CURRENT LIABILITIES

(1,046,717

)

(1,172,473

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(944,920

)

(1,083,716

)

CREDITORS

Amounts falling due after more than one year

8

5,400

-

NET LIABILITIES

(950,320

)

(1,083,716

)

CAPITAL AND RESERVES

Called up share capital

9

9

9

Retained earnings

10

(950,329

)

(1,083,725

)

SHAREHOLDERS' FUNDS

(950,320

)

(1,083,716

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 29 December 2017 and were signed by:

M A P Coyne - Director

1.	STATUTORY INFORMATION

Coyne Group Uk 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.

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.

Preparation of consolidated financial statements

The financial statements contain information about Coyne Group Uk Limited as an individual company

and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial

statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related

party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents the amounts receivable, excluding VAT and trade discounts, by the company for

goods and services provided during the year. All transactions arose in the United Kingdom.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

at variable rates on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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.

Going concern

The financial statements have been prepared on the going concern basis which assumes that the

company will continue in existence for the foreseeable future. The validity of this assumption depends

on the continued financial support of the director which they intend to provide for the foreseeable future.

The financial statements do not include any adjustments that would be necessary if this support was

withdrawn.

The director has pledged their continued support to meet the company's liabilities and obligations for

the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2016 - 6 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2016

13,030

55,841

22,175

49,521

140,567

Additions

6,280

-

18,595

8,499

33,374

At 31 March 2017

19,310

55,841

40,770

58,020

173,941

DEPRECIATION

At 1 April 2016

3,337

11,577

11,088

26,813

52,815

Charge for year

3,870

1,225

7,563

6,676

19,334

At 31 March 2017

7,207

12,802

18,651

33,489

72,149

NET BOOK VALUE

At 31 March 2017

12,103

43,039

22,119

24,531

101,792

At 31 March 2016

9,693

44,264

11,087

22,708

87,752

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

11,600

At 31 March 2017

11,600

DEPRECIATION

Charge for year

1,208

At 31 March 2017

1,208

NET BOOK VALUE

At 31 March 2017

10,392

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2016

1,005

Disposals

(1,000

)

At 31 March 2017

5

NET BOOK VALUE

At 31 March 2017

5

At 31 March 2016

1,005

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

1,855

334,113

Amounts owed by group undertakings

4,200

4,200

Amounts owed by associates

734,522

62,827

Other debtors

42,506

1,545

VAT

-

3,479

Prepayments and accrued income

308,145

61

1,091,228

406,225

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

2,400

-

Trade creditors

107,331

17,024

Commitment deposits

30,000

-

Amounts owed to group undertakings

1,350,309

1,305,357

Amounts owed to associates

11,275

-

Social security and other taxes

8,190

5,035

VAT

7,152

-

Other creditors

653,488

18,835

Pensions

123

-

Directors' current accounts

4,076

234,747

Accrued expenses

1,900

8,250

2,176,244

1,589,248

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

5,400

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

9

Ordinary

£1

9

9

10.

RESERVES

Retained

earnings

£

At 1 April 2016

(1,083,725

)

Profit for the year

133,396

At 31 March 2017

(950,329

)

11.	RELATED PARTY DISCLOSURES

At the year end the amount due from the related party was £nil (2016 - £nil).

Square Peg Investments Limited

A company in which Mrs M Germaine-Coyne owns 100% of the share capital.

2017

2016

Loans received from related party

6,335

-

At the year end the amount due to the related party was £6,335 (2016 - £nil).

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M A P Coyne.