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Unaudited Financial Statements |
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for the Year Ended 31 March 2018 |
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for |
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Cokain Developments Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2018 |
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for |
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Cokain Developments Ltd |
Cokain Developments Ltd (Registered number: 04704969) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Cokain Developments Ltd |
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Company Information |
for the Year Ended 31 March 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
and Business Advisers |
Coburg House |
1 Coburg Street |
Gateshead |
Tyne & Wear |
NE8 1NS |
Cokain Developments Ltd (Registered number: 04704969) |
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Balance Sheet |
31 March 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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24,915 | 12,403 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Cokain Developments Ltd (Registered number: 04704969) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Cokain Developments Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
The company provides construction and civil engineering services. Turnover represents net invoiced sales of |
building services, excluding value added tax. Turnover is only recognised when the company obtains the right |
to consideration. |
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Rendering of services |
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. |
The stage of completion of a contract is measured by comparing the costs incurred for work performed to date |
to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when |
the outcome of a contract cannot be estimated reliably. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual |
value of each asset over its estimated useful life. |
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Plant and machinery etc - 25% on reducing balance and 15% on reducing balance. |
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Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment |
losses. |
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Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those |
assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable |
amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable |
amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss |
is recognised immediately in profit or loss. |
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If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised |
estimate of its recoverable amount, but not in excess of the amount that would have been determined had no |
impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised |
immediately in profit or loss. |
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Stocks |
Stocks are valued at the lower of cost and estimated selling price less costs to sell. |
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Taxation |
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A |
current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a |
previous period. |
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Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses |
in the financial statements and their inclusion in tax assessments. |
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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 and other future taxable profits. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the |
reporting date and that are expected to apply to the reversal of the timing difference. |
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Current and deferred tax assets and liabilities are not discounted. |
Cokain Developments Ltd (Registered number: 04704969) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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3. | ACCOUNTING POLICIES - continued |
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Leasing |
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and |
depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance |
charges, are included in creditors. |
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Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over |
the period of the lease. |
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Employee benefits |
Short-term employee benefits are recognised as an expense in the period in which they are incurred. |
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Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial |
assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third |
parties, loans to related parties and investments on non-puttable ordinary shares. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting |
period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss |
is recognised in profit or loss. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2017 |
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Additions |
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At 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Finance leases (see note 9) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Cokain Developments Ltd (Registered number: 04704969) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Finance leases (see note 9) |
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9. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Finance leases |
2018 | 2017 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable operating |
leases |
2018 | 2017 |
£ | £ |
Within one year |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Finance leases | 15,049 | 12,363 |
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Hire purchase contracts are secured against the items of plant and machinery to which they relate and have a |
carrying amount of £15,409 (2017 - £9,723). |