Corporate Mentors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03898868 (England and Wales)

CORPORATE MENTORS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr T R Hurdley

SECRETARY:

Mr T R Hurdley

REGISTERED OFFICE:

The Riddings

Denstone

Uttoxeter

Staffordshire

ST14 5HW

REGISTERED NUMBER:

03898868 (England and Wales)

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

10,614

10,614

10,614

10,614

CURRENT ASSETS

Debtors

6

11,988

15,550

Cash at bank

10,345

203

22,333

15,753

CREDITORS

Amounts falling due within one year

7

(26,843

)

(25,835

)

NET CURRENT LIABILITIES

(4,510

)

(10,082

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,104

532

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

6,004

432

SHAREHOLDERS' FUNDS

6,104

532

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and loss account has not been delivered.

The financial statements were approved by the director on 26 September 2018 and were signed by:

Mr T R Hurdley - Director

1.	STATUTORY INFORMATION

Corporate Mentors 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The financial statements are presented in sterling which is the functional currency of the company and

rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade

discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from the provision of consultancy

services is recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses

recognised that are recoverable.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

Straight line over 3 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of

operating as intended.

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are

measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

The director is of the opinion that the fair value of the land approximates to its cost and so no revaluation is

required.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

and 31 December 2017

9,992

DEPRECIATION

At 1 January 2017

and 31 December 2017

9,992

NET BOOK VALUE

At 31 December 2017

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2017

and 31 December 2017

10,614

NET BOOK VALUE

At 31 December 2017

10,614

At 31 December 2016

10,614

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

3,150

-

Directors' current accounts

8,480

15,550

Prepayments and accrued income

358

-

11,988

15,550

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Tax

16,717

19,184

VAT

6,203

1,706

Other creditors

2,263

2,739

Accruals and deferred income

1,660

2,206

26,843

25,835

8.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2017 and

31 December 2016:

2017

2016

£

£

Mr T R Hurdley

Balance outstanding at start of year

15,550

9,686

Amounts advanced

687

24,423

Amounts repaid

(7,757

)

(18,559

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,480

15,550

The director's loan has been provided interest free and is repayable on demand.