Catalpa Consultants Ltd - Period Ending 2017-07-31

Registration number: 07716520

Catalpa Consultants Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2017

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

Catalpa Consultants Ltd

(Registration number: 07716520)
Balance Sheet as at 31 July 2017

	Note	2017 £	2016 £
Current assets
Debtors	3	910	910
Creditors: Amounts falling due within one year	4	(710)	(710)
Net assets		200	200
Capital and reserves
Called up share capital	5	200	200
Total equity		200	200

For the financial year ending 31 July 2017 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the Board on 5 April 2018 and signed on its behalf by:
 

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

Mr Neil Cumming

Director

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

Mrs Catherine Jane Cumming

Director

The notes on pages 2 to 4 form an integral part of these financial statements.

Page 1

Catalpa Consultants Ltd

Notes to the Financial Statements for the Year Ended 31 July 2017

1	General information

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

The address of its registered office is:
Suite 26 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

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.

Going concern

The company ceased trading as of 31 July 2016 therefore these financial statements have not been prepared on a going concern basis. The balance sheet is showing a surplus on shareholders' funds of £200 as at 31 July 2017 (2016: £200 surplus).

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.

Page 2

Catalpa Consultants Ltd

Notes to the Financial Statements for the Year Ended 31 July 2017

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.

3

Debtors

	2017 £	2016 £
Director's current account - Mr N Cumming	455	455
Director's current account - Mrs C Cumming	455	455
	910	910

4

Creditors

	Note	2017 £	2016 £
Due within one year
Corporation tax		710	710

5	Share capital

Allotted, called up and fully paid shares

	2017		2016
	No.	£	No.	£
Ordinary A shares of £1 each	100	100	100	100
Ordinary B shares of £1 each	100	100	100	100
	200	200	200	200

Page 3

Catalpa Consultants Ltd

Notes to the Financial Statements for the Year Ended 31 July 2017

6	Transition to FRS 102

This is the first year that the company has presented its results under FRS 102. The last financial statements under United Kingdom Generally Accepted Accounting Practice (UK GAAP) were for the year ended 31 July 2016. The date of transition to FRS 102 was 1 August 2015.

The changes in accounting policies have had no impact on the profit for the financial year ended 31 July 2016 nor the total equity as at 1 August 2015 and 31 July 2016 between UK GAAP as previously reported and FRS 102.

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