Urban Cottage Industries Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07211785 (England and Wales)

Abridged Unaudited Financial Statements for the Year Ended 30th April 2018

for

Urban Cottage Industries Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S Wilson

Miss S Gollop

Mr J M Steel

SECRETARY:

REGISTERED OFFICE:

Old Trouser Factory

Greenhill Industrial Estate

Mytholmroyd

Hebden Bridge

HX7 5QF

REGISTERED NUMBER:

07211785 (England and Wales)

ACCOUNTANTS:

CWW Accountants

153 Mortimer Street

Herne Bay

Kent

CT6 5HA

FIXED ASSETS

Intangible assets

4

52,784

65,516

Tangible assets

5

200,328

189,011

Investments

6

200

200

253,312

254,727

CURRENT ASSETS

Stocks

496,428

449,720

Debtors

150,496

116,415

Cash at bank and in hand

39,048

105,454

685,972

671,589

CREDITORS

Amounts falling due within one year

401,950

339,780

NET CURRENT ASSETS

284,022

331,809

TOTAL ASSETS LESS CURRENT LIABILITIES

537,334

586,536

CREDITORS

Amounts falling due after more than one year

(201,302

)

(16,919

)

PROVISIONS FOR LIABILITIES

(38,082

)

(38,082

)

NET ASSETS

297,950

531,535

CAPITAL AND RESERVES

Called up share capital

400

400

Retained earnings

297,550

531,135

SHAREHOLDERS' FUNDS

297,950

531,535

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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 Income Statement and an abridged Balance Sheet for the year ended 30th April 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 14th January 2019 and were signed on its behalf by:

Mr S Wilson - Director

Miss S Gollop - Director

Mr J M Steel - Director

1.	STATUTORY INFORMATION

Urban Cottage Industries 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.

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.

Website is being amortised evenly over its estimated useful life of nil years.

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 etc

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme

are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2017 - 28 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st May 2017

and 30th April 2018

123,741

AMORTISATION

At 1st May 2017

58,225

Amortisation for year

12,732

At 30th April 2018

70,957

NET BOOK VALUE

At 30th April 2018

52,784

At 30th April 2017

65,516

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st May 2017

321,319

Additions

54,567

At 30th April 2018

375,886

DEPRECIATION

At 1st May 2017

132,308

Charge for year

43,250

At 30th April 2018

175,558

NET BOOK VALUE

At 30th April 2018

200,328

At 30th April 2017

189,011

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1st May 2017

and 30th April 2018

200

NET BOOK VALUE

At 30th April 2018

200

At 30th April 2017

200

7.	RELATED PARTY DISCLOSURES

The company was under the control of Mr S Wilson & Miss S Gollop during the current and previous year.