| Cohesion Digital Limited |
| Registered number: |
SC372724 |
| Balance sheet |
| as at 31 March 2018 |
|
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
5 |
|
|
126,193 |
|
|
114,548 |
|
| Current assets |
| Debtors |
6 |
|
43,691 |
|
|
26,080 |
| Cash at bank and in hand |
|
|
- |
|
|
4,476 |
|
|
|
43,691 |
|
|
30,556 |
|
| Creditors: amounts falling due within one year |
7 |
|
(94,302) |
|
|
(53,632) |
|
| Net current liabilities |
|
|
|
(50,611) |
|
|
(23,076) |
|
| Total assets less current liabilities |
|
|
|
75,582 |
|
|
91,472 |
|
| Creditors: amounts falling due after more than one year |
8 |
|
|
(51,900) |
|
|
(74,819) |
|
| Provisions for liabilities |
|
|
|
(1,566) |
|
|
- |
|
| Net assets |
|
|
|
22,116 |
|
|
16,653 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
22,016 |
|
|
16,553 |
|
| Shareholder's funds |
|
|
|
22,116 |
|
|
16,653 |
|
|
|
|
|
|
|
|
|
| These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and the option not to file the profit and loss account has been taken, under s444. |
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
|
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
|
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of unaudited financial statements. |
|
|
|
| ……………………………… |
| Mr A A Macneil |
| Director |
| Approved by the board on 14 December 2018 |
|
| Cohesion Digital Limited |
| Notes to the unaudited financial statements |
| for the year ended 31 March 2018 |
|
|
| 1 |
General Information |
|
|
Cohesion Digital Limited is a private company limited by shares and incorporated in Scotland. Its registered office is : 14 Duke Street, Hamilton, Scotland, ML3 7DT. |
|
| 2 |
Accounting policies |
|
|
Basis of preparation |
|
These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 102 Section 1A "Small Entities". "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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. On Conversion to FRS102, the goodwill has been evaluated and the remaining useful life restated to 5 years. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Land and buildings |
2% on cost |
|
Plant and machinery |
33% on cost |
|
Furniture and fixtures |
33% on cost |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
|
|
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
|
|
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. |
|
|
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. |
|
|
Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Government grants |
|
Grants which are deemed to be revenue in nature are credited to the profit and loss account as they become receivable. Grants of a capital nature are reflected as deferred income in the balance sheet and released to the profit and loss account over the estimated useful life of the assets to which they relate. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 3 |
Average number of employees during the year |
|
|
The average number of employees, including directors, during the year was as follows: |
|
|
|
|
|
|
|
2018 |
|
2017 |
| Number |
Number |
|
|
Number of employees |
8 |
|
6 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 April 2017 |
36,000 |
|
At 31 March 2018 |
36,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2017 |
36,000 |
|
At 31 March 2018 |
36,000 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2018 |
- |
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery |
|
Furniture and fixtures |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 April 2017 |
116,886 |
|
10,187 |
|
- |
|
127,073 |
|
Additions |
5,826 |
|
1,664 |
|
7,855 |
|
15,345 |
|
At 31 March 2018 |
122,712 |
|
11,851 |
|
7,855 |
|
142,418 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2017 |
2,338 |
|
10,187 |
|
- |
|
12,525 |
|
Charge for the year |
2,421 |
|
217 |
|
1,062 |
|
3,700 |
|
At 31 March 2018 |
4,759 |
|
10,404 |
|
1,062 |
|
16,225 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2018 |
117,953 |
|
1,447 |
|
6,793 |
|
126,193 |
|
At 31 March 2017 |
114,548 |
|
- |
|
- |
|
114,548 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
42,712 |
|
15,626 |
|
Prepayments and accrued income |
- |
|
4,616 |
|
Other debtors |
979 |
|
5,838 |
|
|
|
|
|
|
43,691 |
|
26,080 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Bank loans and overdrafts |
38,257 |
|
22,013 |
|
Trade creditors |
9,393 |
|
2,941 |
|
Corporation tax |
7,631 |
|
6,738 |
|
Other taxes and social security costs |
23,133 |
|
11,070 |
|
Other creditors |
15,888 |
|
10,870 |
|
|
|
|
|
|
94,302 |
|
53,632 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Creditors: amounts falling due after one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Bank loans and overdrafts |
51,900 |
|
74,819 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Related party transactions |
|
|
|
|
|
|
2018 |
|
2017 |
| £ |
£ |
|
Other transactions: |
|
Interest free loans made by the Director to the Company |
13,550 |
|
10,034 |
|
|
|
|
|
|
|
|
|
