Company Registration No. 03062232 (England and Wales)
CORBY CTC TRADING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2019
PAGES FOR FILING WITH REGISTRAR
CORBY CTC TRADING LIMITED
COMPANY INFORMATION
Directors
Mrs D Tysoe
Dr A R Campbell
Secretary
Mrs D Tysoe
Company number
03062232
Registered office
Coomb Road
Great Oakley
Corby
Northamptonshire
NN18 8LA
Accountants
Baldwins
Thorpe House
93 Headlands
Kettering
Northamptonshire
NN15 6BL
CORBY CTC TRADING LIMITED
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 4
CORBY CTC TRADING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2019
- 1 -
The directors present their annual report and financial statements for the year ended 31 August 2019.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mrs D Tysoe
Dr A R Campbell
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mrs D Tysoe
Director
23 April 2020
CORBY CTC TRADING LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2019
31 August 2019
- 2 -
2019
2018
Notes
£
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(100)
(100)
Total equity
-
-
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 August 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 23 April 2020 and are signed on its behalf by:
Mrs D Tysoe
Director
Company Registration No. 03062232
CORBY CTC TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2019
- 3 -
1
Accounting policies
Company information
Corby CTC Trading Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Coomb Road, Great Oakley, Corby, Northamptonshire, NN18 8LA.
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.
The company was dormant throughout the current year.
1.2
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Equipment
33% on reducing balance
Motor vehicles
33% on reducing balance
Ground & pitches
10% on reducing balance
During the year the company received the carrying value of its fixed assets based on its dormant trading status and impaired them accordingly.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.3
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
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.
CORBY CTC TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2019
1
Accounting policies
(Continued)
- 4 -
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.
1.4
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
2
Tangible fixed assets
Equipment
Motor vehicles
Ground & pitches
Total
£
£
£
£
Cost
At 1 September 2018 and 31 August 2019
22,476
8,790
101,243
132,509
Depreciation and impairment
At 1 September 2018 and 31 August 2019
22,476
8,790
101,243
132,509
Carrying amount
At 31 August 2019
-
-
-
-
At 31 August 2018
-
-
-
-
3
Ultimate controlling party
The ultimate controlling party are the trustees of The Brooke Weston Trust, the ultimate parent company.