Coldstar Systems Ltd 31/07/2018 iXBRL

Coldstar Systems Ltd 31/07/2018 iXBRL

COLDSTAR SYSTEMS LTD - Company Information

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31/07/2018 2018-07-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2017-08-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 09127957 2017-08-01 2018-07-31 09127957 2018-07-31 09127957 2017-07-31 09127957 2016-08-01 2017-07-31 09127957 2017-07-31 09127957 2016-07-31 09127957 core:FurnitureFittingsToolsEquipment 2017-08-01 2018-07-31 09127957 bus:Director1 2017-08-01 2018-07-31 09127957 bus:Director2 2017-08-01 2018-07-31 09127957 core:FurnitureFittingsToolsEquipment 2017-07-31 09127957 core:FurnitureFittingsToolsEquipment 2018-07-31 09127957 core:WithinOneYear 2018-07-31 09127957 core:WithinOneYear 2017-07-31 09127957 core:ShareCapital 2018-07-31 09127957 core:ShareCapital 2017-07-31 09127957 core:RetainedEarningsAccumulatedLosses 2018-07-31 09127957 core:RetainedEarningsAccumulatedLosses 2017-07-31 09127957 core:FurnitureFittingsToolsEquipment 2017-07-31 09127957 bus:Director1 2017-07-31 09127957 bus:Director1 2018-07-31 09127957 bus:Director2 2017-07-31 09127957 bus:Director2 2018-07-31 09127957 bus:Director1 2016-07-31 09127957 bus:Director1 2017-07-31 09127957 bus:Director2 2016-07-31 09127957 bus:Director2 2017-07-31 09127957 bus:Director1 2016-08-01 2017-07-31 09127957 bus:SmallEntities 2017-08-01 2018-07-31 09127957 bus:AuditExempt-NoAccountantsReport 2017-08-01 2018-07-31 09127957 bus:FullAccounts 2017-08-01 2018-07-31 09127957 bus:SmallCompaniesRegimeForAccounts 2017-08-01 2018-07-31 09127957 bus:PrivateLimitedCompanyLtd 2017-08-01 2018-07-31
Company registration number: 09127957
Coldstar Systems Ltd
Unaudited filleted financial statements
31 July 2018
Coldstar Systems Ltd
Contents
Statement of financial position
Notes to the financial statements
Coldstar Systems Ltd
Statement of financial position
31 July 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 3,451 1,621
_______ _______
3,451 1,621
Current assets
Debtors 6 16,105 6,013
Cash at bank and in hand 25,456 8,147
_______ _______
41,561 14,160
Creditors: amounts falling due
within one year 7 ( 26,254) ( 14,073)
_______ _______
Net current assets 15,307 87
_______ _______
Total assets less current liabilities 18,758 1,708
Provisions for liabilities ( 656) ( 308)
_______ _______
Net assets 18,102 1,400
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 18,002 1,300
_______ _______
Shareholders funds 18,102 1,400
_______ _______
For the year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge 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 31 October 2018 , and are signed on behalf of the board by:
Mr Jay Daniel Burton
Director
Company registration number: 09127957
Coldstar Systems Ltd
Notes to the financial statements
Year ended 31 July 2018
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit 12, Westside Business Park, Estate Road No 2, Grimsby, North East Lincolnshire, DN31 2TG.
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.
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.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2017: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 August 2017 1,868 1,868
Additions 2,577 2,577
_______ _______
At 31 July 2018 4,445 4,445
_______ _______
Depreciation
At 1 August 2017 247 247
Charge for the year 747 747
_______ _______
At 31 July 2018 994 994
_______ _______
Carrying amount
At 31 July 2018 3,451 3,451
_______ _______
At 31 July 2017 1,621 1,621
_______ _______
6. Debtors
2018 2017
£ £
Trade debtors 14,119 5,430
Other debtors 1,986 583
_______ _______
16,105 6,013
_______ _______
7. Creditors: amounts falling due within one year
2018 2017
£ £
Trade creditors 399 399
Corporation tax 3,350 -
Social security and other taxes 9,134 2,933
Other creditors 13,371 10,741
_______ _______
26,254 14,073
_______ _______
Amounts due on HP contracts are secured on the asset to which they relate.
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2018
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Jay Daniel Burton 76 - 76
Mr Dane Kyle Marshall 50 1,498 1,548
_______ _______ _______
126 1,498 1,624
_______ _______ _______
2017
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Jay Daniel Burton 50 26 76
Mr Dane Kyle Marshall 50 - 50
_______ _______ _______
100 26 126
_______ _______ _______