Confederation Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05813946 (England and Wales)

Financial Statements for the Year Ended 31 December 2017

for

Confederation Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr P T Dawson

Mr A F Wilson

SECRETARY:

Mrs L E Wilson

REGISTERED OFFICE:

1st Floor

14 Castle Street

Liverpool

L2 0NE

REGISTERED NUMBER:

05813946 (England and Wales)

INDEPENDENT AUDITORS:

PricewaterhouseCoopers LLP

141 Bothwell Street

Glasgow

G2 7EQ

FIXED ASSETS

Tangible assets

4

287

652

CURRENT ASSETS

Debtors

5

3,379

3,882

Cash at bank

33,729

46,141

37,108

50,023

CREDITORS

Amounts falling due within one year

6

11,006

14,086

NET CURRENT ASSETS

26,102

35,937

TOTAL ASSETS LESS CURRENT LIABILITIES

26,389

36,589

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Retained earnings

8

25,389

35,589

SHAREHOLDERS' FUNDS

26,389

36,589

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 Profit and Loss Account 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:

Mr A F Wilson - Director

1.	STATUTORY INFORMATION

Confederation Holdings 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 (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost

convention.

The directors have a reasonable expectation that the company has adequate resources to continue in operational

existence for the foreseeable future. The company therefore continues to adopt the going concern basis in

preparing its financial statements.

Significant judgements and estimates

The preparation of the Financial Statements requires management to make judgements, estimates and

assumptions that affect the application of the accounting policies and reported amounts of assets, liabilities,

income and expenses. Actual results may differ from these estimates. Estimates and assumptions are reviewed

on an ongoing basis and revisions to estimates are recognised in the period in which the estimate is revised and in

any future periods affected.

The directors are of the opinion that there are no matters of significant judgement and estimation which are

material to the financial statements.

Turnover/revenue recognition

Turnover relates to the principal activity of the company and represents amounts receivable for goods and

services provided in the normal course of business, net of discounts, value added tax and other sales relates

taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except

to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

Pension costs and other post-retirement benefits

The company makes contributions into a UK defined contribution pension scheme. Contributions payable are

charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2017

and 31 December 2017

2,589

DEPRECIATION

At 1 January 2017

1,937

Charge for year

365

At 31 December 2017

2,302

NET BOOK VALUE

At 31 December 2017

287

At 31 December 2016

652

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,359

1,939

Other debtors

1,716

1,637

Deferred tax asset

304

306

3,379

3,882

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

587

1,363

Tax

2,690

4,553

Social security and other taxes

1,213

1,526

Other creditors

228

253

Accruals and deferred income

6,288

6,391

11,006

14,086

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1,000

Ordinary

1

1,000

1,000

8.

RESERVES

Retained

earnings

£

At 1 January 2017

35,589

Profit for the year

11,300

Dividends

(21,500

)

At 31 December 2017

25,389

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christopher Meyrick (Senior Statutory Auditor)

for and on behalf of PricewaterhouseCoopers LLP

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group or the ultimate parent company Kinnell Holdings

Limited.

Balances due from fellow subsidiary companies of Kinnell Holdings Limited at 31 December 2017 were as

follows: £23 due from Kinnell Corporate Limited (2016: £119); and £1,079 due from Warranty Services Limited

(2016: £1,168). These amounts are included within trade debtors.

Balances due to fellow subsidiary companies of Kinnell Holdings Limited at 31 December 2017 were as follows:

£87 due to The Remedial Company Limited (2016: £84); and £Nil due to Warranty Services Limited (2016:

£164). These amounts are included within trade creditors.

11.	ULTIMATE PARENT COMPANY

The Ultimate Parent Company of Confederation Holdings Limited is Kinnell Holdings Limited, registered in

Scotland, SC295513. Mr P T Dawson is considered to be the ultimate controlling party due to his majority

shareholding in Kinnell Holdings Limited.