Company Registration No. 03378095 (England and Wales)
COLEHERNE COURT SHOPS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 DECEMBER 2018
COLEHERNE COURT SHOPS LIMITED
COMPANY INFORMATION
Director
Sir M Potter
Company number
03378095
Registered office
Block K Coleherne Court
The Little Boltons
London
SW5 0DL
Accountants
Moore Stephens Northern Home Counties Limited
First Floor
73-75 High Street
Stevenage
Hertfordshire
SG1 3HR
COLEHERNE COURT SHOPS LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 6
COLEHERNE COURT SHOPS LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 25 DECEMBER 2018
- 1 -
The director presents his annual report and financial statements for the year ended 25 December 2018.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
Sir M Potter
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Sir M Potter
Director
19 June 2019
COLEHERNE COURT SHOPS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COLEHERNE COURT SHOPS LIMITED FOR THE YEAR ENDED 25 DECEMBER 2018
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Coleherne Court Shops Limited for the year ended 25 December 2018 which comprise the profit and loss account, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of Coleherne Court Shops Limited, as a body, in accordance with
our
terms of
e
ngagement
.
Our work has been undertaken solely to prepare for your approval the financial statements of Coleherne Court Shops Limited
and state those matters that we have agreed to state to the Board of Directors of Coleherne Court Shops Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coleherne Court Shops Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Coleherne Court Shops Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and loss of Coleherne Court Shops Limited. You consider that Coleherne Court Shops Limited is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Coleherne Court Shops Limited. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Moore Stephens Northern Home Counties Limited
Chartered Accountants
First Floor
73-75 High Street
Stevenage
Hertfordshire
SG1 3HR
19 June 2019
COLEHERNE COURT SHOPS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 25 DECEMBER 2018
- 3 -
2018
2017
Notes
£
£
Turnover
240
240
Administrative expenses
(240)
(240)
Profit before taxation
-
-
Tax on profit
-
-
Profit for the financial year
-
-
COLEHERNE COURT SHOPS LIMITED
BALANCE SHEET
AS AT
25 DECEMBER 2018
25 December 2018
- 4 -
2018
2017
Notes
£
£
£
£
Current assets
Debtors
2
489
415
Cash at bank and in hand
2,301
2,148
2,790
2,563
Creditors: amounts falling due within one year
3
(2,788)
(2,561)
Net current assets
2
2
Capital and reserves
Called up share capital
4
2
2
For the financial year ended 25 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 19 June 2019
Sir M Potter
Director
Company Registration No. 03378095
COLEHERNE COURT SHOPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 DECEMBER 2018
- 5 -
1
Accounting policies
Company information
Coleherne Court Shops Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Block K Coleherne Court, The Little Boltons, London, SW5 0DL.
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
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
.
1.3
Cash at bank and in hand
Cash at bank and in hand
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.
1.4
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 balance sheet 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.
Basic financial assets
Basic financial assets, which include debtors 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.
COLEHERNE COURT SHOPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 25 DECEMBER 2018
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities
Basic financial liabilities, including creditors,
and
loans from
fellow group companies 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.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is
any contract that evidences a residual interest in the assets of the company after deducting all of its
liabilities.
2
Debtors
2018
2017
Amounts falling due within one year:
£
£
Other debtors
489
415
3
Creditors: amounts falling due within one year
2018
2017
£
£
Amounts owed to group undertakings
2,548
2,321
Other creditors
240
240
2,788
2,561
4
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
2
2
5
Parent company
The parent company of Coleherne Court Shops Limited is Coleherne Court Freehold Limited and its registered office is
Block K Coleherne Court
,
The Little Boltons
,
London
SW5 0DL
.