ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

COMMUNITY WAREHOUSE LIMITED - Company Information

Print Friendly Version

Caseware UK (AP4) 2016.0.181 2016.0.181 2018-04-302018-04-30truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2017-05-01No description of principal activity SC475448 2017-05-01 2018-04-30 SC475448 2016-05-01 2017-04-30 SC475448 2018-04-30 SC475448 2017-04-30 SC475448 c:Director1 2017-05-01 2018-04-30 SC475448 c:RegisteredOffice 2017-05-01 2018-04-30 SC475448 c:Agent1 2017-05-01 2018-04-30 SC475448 d:CurrentFinancialInstruments 2018-04-30 SC475448 d:CurrentFinancialInstruments 2017-04-30 SC475448 d:CurrentFinancialInstruments d:WithinOneYear 2018-04-30 SC475448 d:CurrentFinancialInstruments d:WithinOneYear 2017-04-30 SC475448 d:ShareCapital 2018-04-30 SC475448 d:ShareCapital 2017-04-30 SC475448 d:RetainedEarningsAccumulatedLosses 2018-04-30 SC475448 d:RetainedEarningsAccumulatedLosses 2017-04-30 SC475448 c:FRS102 2017-05-01 2018-04-30 SC475448 c:AuditExemptWithAccountantsReport 2017-05-01 2018-04-30 SC475448 c:FullAccounts 2017-05-01 2018-04-30 SC475448 c:PrivateLimitedCompanyLtd 2017-05-01 2018-04-30 iso4217:GBP xbrli:pure

Registered number: SC475448









COMMUNITY WAREHOUSE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2018
 
COMMUNITY WAREHOUSE LIMITED
 
 
COMPANY INFORMATION


Director
Fergus Storrier 




Registered number
SC475448



Registered office
11 Dudhope Terrace

Dundee

DD3 6TS




Accountants
Findlays
Chartered Accountants

11 Dudhope Terrace

Dundee

DD3 6TS




Bankers
Royal Bank of Scotland
288 Brook Street

Broughty Ferry

Dundee

DD5 2AP




 
COMMUNITY WAREHOUSE LIMITED
 

CONTENTS



Page
Accountants' Report
1
Balance Sheet
2
Notes to the Financial Statements
3 - 6

 
COMMUNITY WAREHOUSE LIMITED
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COMMUNITY WAREHOUSE LIMITED
FOR THE YEAR ENDED 30 APRIL 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Community Warehouse Limited for the Year ended 30 April 2018 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/technical-resources/framework-for-the-preparation-of-accounts-revised-january-2017.

This report is made solely to the Director of Community Warehouse Limited in accordance with the terms of our engagement letter dated 29th November 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Community Warehouse Limited and state those matters that we have agreed to state to the Director of Community Warehouse Limited in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/technical-resources/framework-for-the-preparation-of-accounts-revised-january-2017. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Community Warehouse Limited and its Director for our work or for this report. 

It is your duty to ensure that Community Warehouse Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit or loss of Community Warehouse Limited. You consider that Community Warehouse Limited is exempt from the statutory audit requirement for the Year.

We have not been instructed to carry out an audit or review of the financial statements of Community Warehouse Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Findlays
Chartered Accountants
11 Dudhope Terrace
Dundee
DD3 6TS
29 November 2018
Page 1
 
COMMUNITY WAREHOUSE LIMITED
REGISTERED NUMBER: SC475448

BALANCE SHEET
AS AT 30 APRIL 2018

2018
2017
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
4,496
2,342

Cash at bank and in hand
 5 
56
175

  
4,552
2,517

Creditors: amounts falling due within one year
 6 
(4,390)
(2,153)

Net current assets
  
 
 
162
 
 
364

Total assets less current liabilities
  
162
364

  

Net assets
  
162
364


Capital and reserves
  

Called up share capital 
 7 
10
10

Profit and loss account
  
152
354

  
162
364


The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Year in question in accordance with section 476 of Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 November 2018.




Fergus Storrier
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2
 
COMMUNITY WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018

1.


General information

Community Warehouse Limited is a private company limited by shares, incorporated in Scotland within the United Kingdom (company number SC475448). The address of the registered office is given in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3
 
COMMUNITY WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018

2.Accounting policies (continued)

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4
 
COMMUNITY WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018

3.


Employees

The average monthly number of employees, including directors, during the Year was 1 (2017 - 1).


4.


Debtors

2018
2017
£
£


Trade debtors
2,000
-

Other debtors
2,496
2,342

4,496
2,342



5.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
56
175

56
175



6.


Creditors: Amounts falling due within one year

2018
2017
£
£

Funds held for third party
191
231

Corporation tax
3,119
997

Accruals and deferred income
1,080
925

4,390
2,153


Page 5
 
COMMUNITY WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018

7.


Share capital

2018
2017
£
£
Allotted, called up and fully paid



10 (2017 - 10) Ordinary shares of £1 each
10
10


 
Page 6