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2017-01-01
Sage Accounts Production Advanced 2017 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
05330963
2017-01-01
2017-08-21
05330963
2017-08-21
05330963
2016-12-31
05330963
2016-01-01
2016-12-31
05330963
2016-12-31
05330963
core:PlantMachinery
2017-01-01
2017-08-21
05330963
core:FurnitureFittings
2017-01-01
2017-08-21
05330963
bus:RegisteredOffice
2017-01-01
2017-08-21
05330963
bus:LeadAgentIfApplicable
2017-01-01
2017-08-21
05330963
bus:Director1
2017-01-01
2017-08-21
05330963
bus:Director2
2017-01-01
2017-08-21
05330963
bus:Director2
2017-08-21
05330963
core:WithinOneYear
2016-12-31
05330963
core:ShareCapital
2017-08-21
05330963
core:ShareCapital
2016-12-31
05330963
core:RetainedEarningsAccumulatedLosses
2017-08-21
05330963
core:RetainedEarningsAccumulatedLosses
2016-12-31
05330963
bus:FRS102
2017-01-01
2017-08-21
05330963
bus:AuditExemptWithAccountantsReport
2017-01-01
2017-08-21
05330963
bus:AbridgedAccounts
2017-01-01
2017-08-21
05330963
bus:SmallCompaniesRegimeForAccounts
2017-01-01
2017-08-21
05330963
bus:PrivateLimitedCompanyLtd
2017-01-01
2017-08-21
05330963
core:NetGoodwill
2017-01-01
2017-08-21
05330963
core:OfficeEquipment
2017-01-01
2017-08-21
Statement of Consent to Prepare Abridged Financial Statements
|
|
All of the members of Collection 26 Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 21 August 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
05330963
Unaudited Abridged Financial Statements
|
|
HRA ACCOUNTING LIMITED
Accountants
Cardiff House
Cardiff Road
Vale of Glamorgan
CF63 2AW
Abridged Financial Statements
|
|
Period from 1 January 2017 to 21 August 2017
Accountants report to the director on the preparation of the unaudited statutory abridged financial statements
|
2
|
|
|
Abridged statement of financial position
|
3
|
|
|
Notes to the abridged financial statements
|
5
|
|
|
Period from 1 January 2017 to 21 August 2017
The director presents his report and the unaudited abridged financial statements of the company for the period ended
21 August 2017
.
Principal activities and business review
The principal activity of the Company had been the planning and management of private events, weddings and corporate events until the Company ceased to operate the services on 21st August 2017. Accordingly these financial statements are not being prepared on a going concern basis. All the expenses during the year related to the discontinued operations and the settlement of the outstanding liabilities. As a consequence of the Company ceasing to trade on 21st August 2017, the Company now has no employees and there are no plans for any future business activity. The Director plans to move the Company to dormant status and place the Company into voluntary liquidation to release remaining shareholder assets.
Directors
The directors who served the company during the period were as follows:
Mr J Blackman
|
|
Ms H Adams
|
(Resigned
16 May 2017)
|
|
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
23 August 2017
and signed on behalf of the board by:
Joe Blackman
Director
Registered office:
|
66 Porchester Road
|
London
|
United Kingdom
|
W2 6ET
|
|
Accountants Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
Collection 26 Limited
|
|
Period from 1 January 2017 to 21 August 2017
As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the period ended 21 August 2017, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
HRA ACCOUNTING LIMITED
Accountants
Cardiff House
Cardiff Road
Vale of Glamorgan
CF63 2AW
23 August 2017
Abridged Statement of Financial Position
|
|
21 August 2017
|
21 Aug 17
|
31 Dec 16
|
Note
|
£
|
£
|
£
|
|
|
|
|
Fixed assets
Intangible assets
|
6
|
|
–
|
12,125
|
Tangible assets
|
7
|
|
–
|
14,617
|
|
|
----
|
--------
|
|
|
–
|
26,742
|
|
|
|
|
|
Current assets
Debtors
|
–
|
|
124,822
|
Cash at bank and in hand
|
425,185
|
|
772,280
|
|
---------
|
|
---------
|
|
425,185
|
|
897,102
|
|
|
|
|
Creditors: amounts falling due within one year
|
–
|
|
605,489
|
|
---------
|
|
---------
|
Net current assets
|
|
425,185
|
291,613
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
425,185
|
318,355
|
|
|
---------
|
---------
|
Net assets
|
|
425,185
|
318,355
|
|
|
---------
|
---------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
100
|
100
|
Profit and loss account
|
|
425,085
|
318,255
|
|
|
---------
|
---------
|
Members funds
|
|
425,185
|
318,355
|
|
|
---------
|
---------
|
|
|
|
|
These abridged 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 abridged statement of comprehensive income has not been delivered.
For the period ending 21 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
Abridged Statement of Financial Position (continued)
|
|
21 August 2017
These abridged financial statements were approved by the
board of directors
and authorised for issue on
23 August 2017
, and are signed on behalf of the board by:
Company registration number:
05330963
Notes to the Abridged Financial Statements
|
|
Period from 1 January 2017 to 21 August 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 66 Porchester Road, London, United Kingdom, W2 6ET.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the 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. The financial statements have not been prepared on a going concern basis, for reasons outlined in the Directors Report.
Revenue recognition
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill
|
-
|
20 years Straight Line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
|
Plant & Machinery
|
-
|
25% reducing balance
|
|
Fixtures & Fittings
|
-
|
25% reducing balance
|
|
Equipment
|
-
|
25% reducing balance
|
|
|
|
|
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 as a finance cost in profit or loss in the period in which it arises.
4.
Staff costs
The average number of persons employed by the company during the period, including the director, amounted to 5 (2016: 5).
5.
Profit before taxation
Profit before taxation is stated after charging:
|
Period from
|
|
|
1 Jan 17 to
|
Year to
|
|
21 Aug 17
|
31 Dec 16
|
|
£
|
£
|
Amortisation of intangible assets
|
–
|
1,500
|
Depreciation of tangible assets
|
–
|
4,870
|
|
----
|
-------
|
|
|
|
6.
Intangible assets
|
£
|
Cost
|
|
At 1 January 2017
|
30,000
|
Disposals
|
(
30,000)
|
|
--------
|
At 21 August 2017
|
–
|
|
--------
|
Amortisation
|
|
At 1 January 2017
|
17,875
|
Disposals
|
(
17,875)
|
|
--------
|
At 21 August 2017
|
–
|
|
--------
|
Carrying amount
|
|
At 21 August 2017
|
–
|
|
--------
|
At 31 December 2016
|
12,125
|
|
--------
|
|
|
7.
Tangible assets
|
£
|
Cost
|
|
At 1 January 2017
|
50,465
|
Additions
|
2,665
|
Disposals
|
(
53,130)
|
|
--------
|
At 21 August 2017
|
–
|
|
--------
|
Depreciation
|
|
At 1 January 2017
|
35,848
|
Disposals
|
(
35,848)
|
|
--------
|
At 21 August 2017
|
–
|
|
--------
|
Carrying amount
|
|
At 21 August 2017
|
–
|
|
--------
|
At 31 December 2016
|
14,617
|
|
--------
|
|
|
8.
Related party transactions
The company was under the control of Mr Joe Blackman throughout the current and previous year. Mr Blackman is the managing director and majority shareholder.