COLLINS COLES JOINERY LTD - Limited company accounts 18.1.1

REGISTERED NUMBER: 08911425 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 28 February 2018

for

COLLINS COLES JOINERY LTD

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

C Collins

SECRETARY:

REGISTERED OFFICE:

Unit 2 Gunn

Goodleigh

Barnstaple

Devon

EX32 7NZ

REGISTERED NUMBER:

08911425 (England and Wales)

ACCOUNTANTS:

Procter Accountancy

3 Princess Street

Barnstaple

Devon

EX32 7EU

The director presents his report with the financial statements of the company for the year ended 28 February 2018.

INCORPORATION

The company was incorporated on 25 February 2014 .

DIRECTORS

C Collins has held office during the whole of the period from 1 March 2017 to the date of this report.

Other changes in directors holding office are as follows:

T Coles - resigned 31 December 2017

The director who is eligible offers himself for election at the forthcoming first Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

C Collins - Director

10 September 2018

TURNOVER

56,674

Cost of sales

21,139

GROSS PROFIT

35,535

Distribution costs

22,693

Administrative expenses

15,833

38,526

OPERATING LOSS and

LOSS BEFORE TAXATION

(2,991

)

Tax on loss

-

LOSS FOR THE FINANCIAL YEAR

(2,991

)

FIXED ASSETS

Tangible assets

5

8,083

CURRENT ASSETS

Stocks

8,987

Cash at bank

2,893

11,880

CREDITORS

Amounts falling due within one year

6

500

NET CURRENT ASSETS

11,380

TOTAL ASSETS LESS CURRENT LIABILITIES

19,463

CREDITORS

Amounts falling due after more than one year

7

26,270

NET LIABILITIES

(6,807

)

CAPITAL AND RESERVES

Called up share capital

2

Revaluation reserve

8

(3,818

)

Retained earnings

(2,991

)

(6,807

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 10 September 2018 and were signed by:

C Collins - Director

1.	STATUTORY INFORMATION

COLLINS COLES JOINERY LTD 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 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was XXX.

**PLEASE COMPLETE CLIENT SCREEN WITH DETAILS

4.	OPERATING LOSS

The operating loss is stated after charging:

£

Depreciation - owned assets

2,694

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2017

and 28 February 2018

10,777

DEPRECIATION

Charge for year

2,694

At 28 February 2018

2,694

NET BOOK VALUE

At 28 February 2018

8,083

At 28 February 2017

10,777

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

500

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

26,270

8.

RESERVES

Revaluation

reserve

£

At 1 March 2017

and 28 February 2018

(3,818

)