Carson's Group Ltd Company Accounts

CARSON'S GROUP LTD - Company Information

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COMPANY REGISTRATION NUMBER: 9892735

Carson's Group Ltd

Filleted Unaudited Financial Statements

30 November 2017

Carson's Group Ltd

Financial Statements

Year ended 30 November 2017

Contents	Page

Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Statement of changes in equity	3

Notes to the financial statements	4

Carson's Group Ltd

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Carson's Group Ltd

Year ended 30 November 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Carson's Group Ltd for the year ended 30 November 2017, which comprise the statement of financial position, statement of changes in equity and the related notes 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 www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.

WALTER HUNTER & CO LIMITED Chartered accountant

24 Bridge Street Newport South Wales NP20 4SF

11 April 2018

Carson's Group Ltd

Statement of Financial Position

30 November 2017

	2017	2016
Note	£	£

Current assets

Debtors	5	136,368	83,907
Cash at bank and in hand		1,178	334
		---------	--------
		137,546	84,241

Creditors: amounts falling due within one year	6	137,047	84,012
		---------	--------
Net current assets		499	229
		----	----
Total assets less current liabilities		499	229
		----	----
Net assets		499	229
		----	----

Capital and reserves

Called up share capital	2	1
Profit and loss account	497	228
	----	----
Shareholders funds	499	229
	----	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 November 2017 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 11 April 2018 , and are signed on behalf of the board by:

Mr T Madzibanyika
Director

Company registration number: 9892735

Carson's Group Ltd

Statement of Changes in Equity

Year ended 30 November 2017

	Called up share capital	Profit and loss account	Total
	£	£	£
At 27 November 2015	–	–	–

Profit for the year		39,228	39,228
	----	--------	--------
Total comprehensive income for the year	–	39,228	39,228

Issue of shares	1	–	1
Dividends paid and payable	–	( 39,000)	( 39,000)
	----	--------	--------
Total investments by and distributions to owners	1	( 39,000)	( 38,999)

At 30 November 2016	1	228	229

Profit for the year		45,269	45,269
	----	--------	--------
Total comprehensive income for the year	–	45,269	45,269

Issue of shares	1	–	1
Dividends paid and payable	–	( 45,000)	( 45,000)
	----	--------	--------
Total investments by and distributions to owners	1	( 45,000)	( 44,999)

	----	--------	--------
At 30 November 2017	2	497	499
	----	--------	--------

Carson's Group Ltd

Notes to the Financial Statements

Year ended 30 November 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 74 Bryngwyn Road, Newport, NP20 4JT.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2016: 5 ).

5. Debtors

	2017	2016
	£	£
Trade debtors	136,368	83,907
	---------	--------

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Bank loans and overdrafts	2,340	–
Trade creditors	123,081	71,576
Corporation tax	10,874	9,807
Social security and other taxes	545	–
Other creditors	207	2,629
	---------	--------
	137,047	84,012
	---------	--------

7. Director's advances, credits and guarantees

Included in note 6 to the accounts is a director's current account repayable to Mr T Madzibanyika , £207 (2016: £829) who is also a shareholder of the company. The balance is held on an interest free basis and is repayable on demand.

8. Related party transactions

The company was under the control of Mr Trevor Madzibanyika throughout this year and the preceding period. Mr Madzibanyika is the managing director and, as at 30 November 2017, owns 50% of the share capital of the company. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.