Be Cool (Carlisle) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05201176 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2018

for

Be Cool (Carlisle) Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Wardrope

Mrs E Wardrope

SECRETARY:

Mrs E Wardrope

REGISTERED OFFICE:

7 Oak Lane

Parkland Village

Carlisle

Cumbria

CA1 3SW

REGISTERED NUMBER:

05201176 (England and Wales)

ACCOUNTANTS:

James W A Cruickshank & Co

Chartered Accountants

Chartered Tax Advisers

Inglewood

Wreay

Carlisle

Cumbria

CA4 0RL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

361

843

361

843

CURRENT ASSETS

Stocks

2,000

1,951

Debtors

16,054

7,533

Cash at bank

2,057

17,160

20,111

26,644

CREDITORS

Amounts falling due within one year

17,292

24,265

NET CURRENT ASSETS

2,819

2,379

TOTAL ASSETS LESS CURRENT LIABILITIES

3,180

3,222

PROVISIONS FOR LIABILITIES

69

169

NET ASSETS

3,111

3,053

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

3,109

3,051

SHAREHOLDERS' FUNDS

3,111

3,053

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 November 2018 and were signed on its behalf by:

D Wardrope - Director

1.	STATUTORY INFORMATION

Be Cool (Carlisle) 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.

Goodwill

Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the balance sheet and

amortised over it's estimated useful life up to a maximum of 20 years. This length of time is presumed to be the

maximum useful life of purchased goodwill because it is difficult to make projections beyond this period.

Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and

subsequently as and when necessary if circumstances emerge that indicate that the carrying value may not be

recoverable.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less it's estimated residual value, over the useful

economic life of that asset as follows:

Goodwill - 5 Years straight line

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 1 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2017

and 31 October 2018

3,600

AMORTISATION

At 1 November 2017

and 31 October 2018

3,600

NET BOOK VALUE

At 31 October 2018

-

At 31 October 2017

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2017

and 31 October 2018

18,985

DEPRECIATION

At 1 November 2017

18,142

Charge for year

482

At 31 October 2018

18,624

NET BOOK VALUE

At 31 October 2018

361

At 31 October 2017

843

6.	FINANCIAL INSTRUMENTS

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the company after deducting all of it's liabilities.