Cheshire Urban Living Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 10338876 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2018

FOR

CHESHIRE URBAN LIVING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A J Coan

R P Peck

REGISTERED OFFICE:

Preference House

101 King Street

Knutsford

Cheshire

WA16 6EQ

REGISTERED NUMBER:

10338876 (England and Wales)

ACCOUNTANTS:

Rose Rowland and Co

Chartered Accountants

High Street

Weaverham

Northwich

Cheshire

CW8 3HA

CURRENT ASSETS

Stocks

-

325,000

Debtors

3

1,133,276

14,543

Cash at bank

27,128

521,117

1,160,404

860,660

CREDITORS

Amounts falling due within one year

4

1,158,698

909,690

NET CURRENT ASSETS/(LIABILITIES)

1,706

(49,030

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,706

(49,030

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

1,705

(49,031

)

1,706

(49,030

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29th June 2018 and were signed on its behalf by:

J A J Coan - Director

R P Peck - Director

1.	STATUTORY INFORMATION

Cheshire Urban Living 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 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.

STOCKS

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

obsolete and slow moving items.

FINANCIAL INSTRUMENTS

FINANCIAL ASSETS

Trade, group and other debtors

Trade, group and other debtors (including accrued income) which are receivable within one

year and which do not constitute a financing transaction are initially measured at the

transaction price and subsequently measured at amortised cost, being the transaction price

less any amounts settled and any impairment losses.

A provision for impairment of trade debtors is established where there is objective evidence

that the amounts due will not be collected according to the original terms of the contract.

Impairment losses are recognised in profit or loss for the excess of the carrying value of the

trade debtor over the present value of the future cash flows discounted using the original

effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an

event occurring after the impairment loss was recognised, are recognised immediately in

profit or loss.

FINANCIAL LIABILITIES

Trade, group and other creditors

Trade, group and other creditors (including accruals) payable within one year that do not

constitute a financing transaction are initially measured at the transaction price and

subsequently measured at amortised cost, being transaction price less any amounts settled.

Derecognition of financial assets and liabilities

A financial asset is only derecognised when the contractual rights to cash flows expire or are

settled, or substantially all the risks and rewards of ownership are transferred to another party,

or if some significant risks and rewards of ownership are retained but control of the asset has

transferred to another party that is able to sell the asset in its entirety to an unrelated third

party. A financial liability (or part thereof) is derecognised when the obligation specified in

the contract is discharged, cancelled or expires.

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.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

1,121,328

-

Other debtors

11,948

14,543

1,133,276

14,543

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

30,971

6,675

Amounts owed to group undertakings

606,729

901,515

Taxation and social security

15,381

-

Other creditors

505,617

1,500

1,158,698

909,690

5.	RELATED PARTY DISCLOSURES

As at 31st March 2018 Cheshire Urban Living Limited owed £606,729 to its parent company,

5AM Group Limited.

6.	ULTIMATE CONTROLLING PARTY

The immediate parent company, and controlling party, is 5AM Group Limited.