Company Registration Number 05190185 (England and Wales)
TRIBE CONTEMPORARY RUGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2020
TRIBE CONTEMPORARY RUGS LIMITED
COMPANY INFORMATION
Directors
Mr D Owen
Mr C Couch
Secretary
Mr D Owen
Company number
05190185
Registered office
Lynwood House
373-375 Station Road
Harrow, Middlesex
HA1 2AW
Accountants
RDP Newmans LLP
Lynwood House
373-375 Station Road
Harrow, Middlesex
HA1 2AW
Business address
2a Devonshire Road
Chiswick
London
W4 2HD
TRIBE CONTEMPORARY RUGS LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet and notes to the financial statements
4 - 5
TRIBE CONTEMPORARY RUGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2020
- 1 -
The directors present their annual report and financial statements for the year ended 30 April 2020.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr D Owen
Mr C Couch
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and therefore the directors continue to adopt the going concern basis of accounting in preparing the financial statements. The validity of this assumption depends on the continued support of the company's directors and creditors.
If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, to provide for further liabilities that might arise and to reclassify fixed assets as current assets.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.
On behalf of the board
Mr C Couch
Director
28 February 2021
TRIBE CONTEMPORARY RUGS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TRIBE CONTEMPORARY RUGS LIMITED FOR THE YEAR ENDED 30 APRIL 2020
- 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 Tribe Contemporary Rugs Limited for the year ended 30 April 2020, which comprise the profit and loss account and the balance sheet, 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
b
oard of
d
irectors of Tribe Contemporary Rugs Limited, as a body, in accordance with the terms of our engagement letter dated 17 January 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Tribe Contemporary Rugs Limited and state those matters that we have agreed to state to the
b
oard of
d
irectors of Tribe Contemporary Rugs 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 Tribe Contemporary Rugs Limited and its
b
oard of
d
irectors as a body, for our work or for this report.
It is your duty to ensure that Tribe Contemporary Rugs 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 profit
of Tribe Contemporary Rugs Limited. You consider that Tribe Contemporary Rugs 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 Tribe Contemporary Rugs 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.
We have considered the adequacy of the disclosures made in Directors
'
Report of the financial statements concerning the reliance of the company on the continued support of the director
s
and creditors in order to continue as a going concern. In view of the significance of this uncertainty we consider that it should be drawn to your attention.
RDP Newmans LLP
28 February 2021
Chartered Accountants
Lynwood House
373-375 Station Road
Harrow, Middlesex
HA1 2AW
TRIBE CONTEMPORARY RUGS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2020
- 3 -
2020
2019
£
£
Turnover
95,604
79,051
Other income
25,000
-
Cost of raw materials and consumables
(44,396)
(23,276)
Staff costs
(8,597)
(8,415)
Depreciation and other amounts written off assets
(180)
(565)
Other charges
(46,740)
(48,913)
Tax
(3,657)
-
Profit/(loss)
17,034
(2,118)
TRIBE CONTEMPORARY RUGS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2020
30 April 2020
- 4 -
2020
2019
£
£
£
£
Fixed assets
432
612
Current assets
27,890
16,419
Creditors: amounts falling due within one year
(42,554)
(40,120)
Net current liabilities
(14,664)
(23,701)
Total assets less current liabilities
(14,232)
(23,089)
Creditors: amounts falling due after more than one year
(5,587)
(13,764)
Net liabilities
(19,819)
(36,853)
Capital and reserves
(19,819)
(36,853)
Notes to the financial statements
1
Employees
The average number of persons
,
including directors
,
employed by the company during the year wa
s as follows:
2020
2019
Number
Number
Employees
2
2
Tribe Contemporary Rugs Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lynwood House, 373-375 Station Road, Harrow, Middlesex, HA1 2AW.
For the year ended 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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.
The 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 micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and the provisions applicable to companies subject to the small companies regime.
TRIBE CONTEMPORARY RUGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2020
30 April 2020
- 5 -
The financial statements were approved by the board of directors and authorised for issue on 28 February 2021 and are signed on its behalf by:
Mr C Couch
Director
Company Registration Number 05190185
TRIBE CONTEMPORARY RUGS LIMITED
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 30 APRIL 2020