Cornbridge Limited - Filleted accounts

CORNBRIDGE LIMITED - Company Information

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Registered number

00947082

(England and Wales)

Cornbridge Limited

Unaudited Filleted Accounts

for the year ended 31 December 2017

HCA Group

Chartered Accountants

Leeds

Cornbridge Limited


Balance Sheet as at 31 December 2017


Notes			2017			2016
£				£
Fixed assets
Tangible assets	3		740,509			741,186

Current assets
Debtors	4	21,827			37,475

Creditors: amounts falling due within one year	5	(7,118)			(5,053)

Net current assets			14,709			32,422

Total assets less current liabilities			755,218			773,608


Provisions for liabilities			(154)			(297)


Net assets			755,064			773,311

Capital and reserves
Called up share capital			6,000			6,000
Profit and loss account			749,064			767,311

Shareholders' funds			755,064			773,311

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Registered Number:
00947082


........................................
M W Beddard
Director

Approved by the Board on 14 February 2018

Cornbridge Limited


Notes to the accounts for the year ended 31 December 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:

	Plant and machinery			20% Straight line
	Integral features			10% Straight line

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees					2017		2016
Number							Number

	Average number of persons employed by the company					-		-


3	Tangible fixed assets
		Land and buildings		Plant and machinery		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2017	739,700		18,051		6,771		764,522
	At 31 December 2017	739,700		18,051		6,771		764,522

	Depreciation
	At 1 January 2017	-		18,051		5,285		23,336
	Charge for the year	-		-		677		677
	At 31 December 2017	-		18,051		5,962		24,013

	Net book value
	At 31 December 2017	739,700		-		809		740,509
	At 31 December 2016	739,700		-		1,486		741,186




4	Debtors					2017		2016
£							£

	Other debtors					21,827		37,475


5	Creditors: amounts falling due within one year					2017		2016
£							£

	Corporation tax					5,798		3,733
	Other creditors					1,320		1,320
						7,118		5,053




6	Related party transactions

	During the year the company paid a dividend totalling £24,524 (2016: £Nil) to the directors of the company.


7	Controlling party

	The directors consider that there is no controlling party by virtue of the shareholdings.


8	Other information

	Cornbridge Limited is a private company limited by shares and incorporated in England and Wales. The company's registered office is:

	Dewsbury Business Centre
	13 Wellington Road
	Dewsbury
	West Yorkshire
	WF13 1HF

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