Columbus Thirty Four Limited 31/08/2017 iXBRL

Columbus Thirty Four Limited 31/08/2017 iXBRL

COLUMBUS THIRTY FOUR LIMITED - Company Information

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31/08/2017 2017-08-31 false false false false false false false false false false true false false true false false false false false true false false No description of principal activities is disclosed 2016-09-01 Sage Accounts Production 18.1 - FRS xbrli:pure xbrli:shares iso4217:GBP 08182395 2016-09-01 2017-08-31 08182395 2017-08-31 08182395 2016-08-31 08182395 2015-09-01 2016-08-31 08182395 2016-08-31 08182395 core:FurnitureFittingsToolsEquipment 2016-09-01 2017-08-31 08182395 bus:RegisteredOffice 2016-09-01 2017-08-31 08182395 bus:LeadAgentIfApplicable 2016-09-01 2017-08-31 08182395 bus:Director1 2016-09-01 2017-08-31 08182395 core:FurnitureFittingsToolsEquipment 2016-08-31 08182395 core:FurnitureFittingsToolsEquipment 2017-08-31 08182395 core:WithinOneYear 2017-08-31 08182395 core:WithinOneYear 2016-08-31 08182395 core:ShareCapital 2017-08-31 08182395 core:ShareCapital 2016-08-31 08182395 core:RetainedEarningsAccumulatedLosses 2017-08-31 08182395 core:RetainedEarningsAccumulatedLosses 2016-08-31 08182395 core:FurnitureFittingsToolsEquipment 2016-08-31 08182395 bus:Director1 2016-08-31 08182395 bus:Director1 2017-08-31 08182395 bus:Director1 2015-08-31 08182395 bus:Director1 2016-08-31 08182395 bus:Director1 2015-09-01 2016-08-31 08182395 bus:SmallEntities 2016-09-01 2017-08-31 08182395 bus:AuditExempt-NoAccountantsReport 2016-09-01 2017-08-31 08182395 bus:FullAccounts 2016-09-01 2017-08-31 08182395 bus:SmallCompaniesRegimeForAccounts 2016-09-01 2017-08-31 08182395 bus:PrivateLimitedCompanyLtd 2016-09-01 2017-08-31
Company registration number: 08182395
Columbus Thirty Four Limited
Unaudited filleted financial statements
31 August 2017
Columbus Thirty Four Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Columbus Thirty Four Limited
Directors and other information
Director Stephen Taylor
Company number 08182395
Registered office 53 Crimple Meadows
Pannal
Harrogate
HG3 1EL
Accountants JRAS Chartered Accountants
Windsor House
Cornwall Road
Harrogate
North Yorkshire
HG1 2PW
Columbus Thirty Four Limited
Statement of financial position
31 August 2017
2017 2016
Note £ £ £ £
Fixed assets
Tangible assets 5 869 886
_______ _______
869 886
Current assets
Debtors 6 1,331 471
Cash at bank and in hand 38,684 26,806
_______ _______
40,015 27,277
Creditors: amounts falling due
within one year 7 ( 32,518) ( 26,289)
_______ _______
Net current assets 7,497 988
_______ _______
Total assets less current liabilities 8,366 1,874
Provisions for liabilities ( 165) ( 177)
_______ _______
Net assets 8,201 1,697
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 8,200 1,696
_______ _______
Shareholder funds 8,201 1,697
_______ _______
For the year ending 31 August 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 member has 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 May 2018 , and are signed on behalf of the board by:
Stephen Taylor
Director
Company registration number: 08182395
Columbus Thirty Four Limited
Notes to the financial statements
Year ended 31 August 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 53 Crimple Meadows, Pannal, Harrogate, HG3 1EL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 September 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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.
4. Staff costs
The average number of persons employed by the company during the year amounted to 7 (2016: 7 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 September 2016 2,226 2,226
Additions 350 350
_______ _______
At 31 August 2017 2,576 2,576
_______ _______
Depreciation
At 1 September 2016 1,340 1,340
Charge for the year 367 367
_______ _______
At 31 August 2017 1,707 1,707
_______ _______
Carrying amount
At 31 August 2017 869 869
_______ _______
At 31 August 2016 886 886
_______ _______
6. Debtors
2017 2016
£ £
Trade debtors 432 -
Other debtors 899 471
_______ _______
1,331 471
_______ _______
7. Creditors: amounts falling due within one year
2017 2016
£ £
Trade creditors 37 76
Corporation tax 6,609 2,329
Social security and other taxes 5,333 4,332
Other creditors 20,539 19,552
_______ _______
32,518 26,289
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2017
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Stephen Taylor ( 11,989) 680 ( 3,072) ( 14,381)
_______ _______ _______ _______
2016
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Stephen Taylor ( 10,066) 22,803 ( 24,726) ( 11,989)
_______ _______ _______ _______
9. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 September 2015.
Reconciliation of equity
No transitional adjustments were required.
Reconciliation of profit or loss for the year
No transitional adjustments were required.