Cotswold Creative Living Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09055064 (England and Wales)

COTSWOLD CREATIVE LIVING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs T L Deacon

J Bidwell

REGISTERED OFFICE:

Unit 4

The Old Dairy Rushley Lane

Winchcombe

Cheltenham

Gloucestershire

GL54 5JE

REGISTERED NUMBER:

09055064 (England and Wales)

ACCOUNTANTS:

Miller & Co

Chartered Accountants

5 Imperial Court

Laporte Way

Luton

Bedfordshire

LU4 8FE

FIXED ASSETS

Tangible assets

5

58,156

37,541

CURRENT ASSETS

Stocks

41,111

29,499

Debtors

6

67,007

82,503

Cash at bank and in hand

150

9,806

108,268

121,808

CREDITORS

Amounts falling due within one year

7

125,382

113,274

NET CURRENT (LIABILITIES)/ASSETS

(17,114

)

8,534

TOTAL ASSETS LESS CURRENT LIABILITIES

41,042

46,075

CREDITORS

Amounts falling due after more than one year

8

(28,913

)

-

PROVISIONS FOR LIABILITIES

-

(4,179

)

NET ASSETS

12,129

41,896

CAPITAL AND RESERVES

Called up, paid and allotted share capital

100

100

Retained earnings

12,029

41,796

SHAREHOLDERS' FUNDS

12,129

41,896

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 29 March 2018 and were signed on its behalf by:

J Bidwell - Director

1.	STATUTORY INFORMATION

Cotswold Creative Living 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, rounded to the nearest £.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Income is recognised when goods/services have been delivered to customers such that risks and rewards of

ownership have transferred to them.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the

current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax

rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial

statements of current and previous periods. It is recognised in respect of all timing differences, with certain

exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated

in the financial statements that arise from the inclusion of income and expense in tax assessments in periods

different from those in which they are recognised in the financial statements. 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

balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued

non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that

apply to the sale of the asset.

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

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

lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2016

13,533

32,172

2,600

-

48,305

Additions

-

443

26,000

608

27,051

At 30 June 2017

13,533

32,615

28,600

608

75,356

DEPRECIATION

At 1 July 2016

3,653

5,973

1,138

-

10,764

Charge for year

1,482

3,965

908

81

6,436

At 30 June 2017

5,135

9,938

2,046

81

17,200

NET BOOK VALUE

At 30 June 2017

8,398

22,677

26,554

527

58,156

At 30 June 2016

9,880

26,199

1,462

-

37,541

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

43,252

70,461

Other debtors

23,755

12,042

67,007

82,503

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

13,410

-

Hire purchase contracts

5,780

-

Trade creditors

75,772

56,017

Taxation and social security

17,249

30,794

Other creditors

13,171

26,463

125,382

113,274

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

19,761

-

Other creditors

9,152

-

28,913

-

9.	RELATED PARTY DISCLOSURES

The directors operate loan accounts with the company. During the year additional loans in aggregate of £5,064

were provided by the directors and £23,940 was repaid.

10.	FIRST YEAR ADOPTION

The policies applied under the entity's previous accounting framework are not materially different to FRS 102

and have not impacted on equity or profit or loss.