Company Registration No. 07675686 (England and Wales)
CALL COACH LIMITED
Unaudited financial statements
For the year ended 30 June 2017
Pages for filing with registrar
CALL COACH LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
CALL COACH LIMITED
STATEMENT OF FINANCIAL POSITION
As at 30 June 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Property, plant and equipment
3
12,827
6,348
Current assets
Trade and other receivables
4
40,854
22,274
Cash and cash equivalents
654
14,072
41,508
36,346
Current liabilities
5
(43,525)
(32,809)
Net current (liabilities)/assets
(2,017)
3,537
Total assets less current liabilities
10,810
9,885
Non-current liabilities
6
(7,887)
(4,022)
Net assets
2,923
5,863
Equity
Called up share capital
7
100
100
Retained earnings
2,823
5,763
Total equity
2,923
5,863
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 29 January 2018 and are signed on its behalf by:
A P Cockle
S J Cockle
Director
Director
Company Registration No. 07675686
CALL COACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2017
- 2 -
1
Accounting policies
Company information
Call Coach Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Connect House
,
133-137 Alexandra Road
,
Wimbledon
,
London
,
SW19 7JY
.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Revenue
Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Property, plant and equipment
Property, plant and equipment
are initially measured at cost and subsequently measured at cost
less
depreciation and
less
any impairment losses.
Depreciation is recognised so as to write off the cost
of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% reducing balance per annum
Motor vehicles
25% reducing balance per annum
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
CALL COACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 June 2017
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
1.6
Taxation
The tax expense represents the tax currently payable
.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.7
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair
value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the income statement so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2016 - 2
).
CALL COACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 June 2017
- 4 -
3
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 July 2016
8,754
Additions
16,266
Disposals
(7,350)
At 30 June 2017
17,670
Depreciation and impairment
At 1 July 2016
2,406
Depreciation charged in the year
4,275
Eliminated in respect of disposals
(1,838)
At 30 June 2017
4,843
Carrying amount
At 30 June 2017
12,827
At 30 June 2016
6,348
4
Trade and other receivables
2017
2016
Amounts falling due within one year:
£
£
Trade receivables
34,818
22,274
Other receivables
6,036
-
40,854
22,274
5
Current liabilities
2017
2016
£
£
Bank loans and overdrafts
3,236
-
Trade payables
85
-
Corporation tax
24,836
17,710
Other taxation and social security
6,889
8,868
Other payables
8,479
6,231
43,525
32,809
Other payables includes an amount of £1,809
(201
6
- £1
,270
) relating to net obligations under
lease
purchase
agreements
which
are
secured against the assets concerned.
CALL COACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 June 2017
- 5 -
6
Non-current liabilities
2017
2016
£
£
Other payables
7,887
4,022
Other payables includes an amount of £7,887
(2016 - £
4,022
) relating to net obligations under lease purchase agreements which are secured against the assets concerned.
7
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
8
Directors' transactions
During the year the company advanced the director
s
£
6,036
(2016 - £nil). At the end of the year the director
s
owed the company £
6,036
(2016 - £nil). The advance is interest free, unsecured and repayable on demand.
Dividends totalling £102,000 (2016 - £90,000
) were paid in the year in respect of shares held by the
company's directors.