Company Registration No. 06367316 (England and Wales)
CROYDON COMMITMENT EVENTS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
CROYDON COMMITMENT EVENTS LIMITED
COMPANY INFORMATION
Directors
Mr A F Feast
Mr S Dorman
Mrs K Glass
Miss J Dakin
Mrs R F Farrar
(Appointed 2 February 2016)
Company number
06367316
Registered office
Kings Parade
Lower Coombe Street
Croydon
CR0 1AA
Accountants
DS & Co. Ltd
306 High Street
Croydon
Surrey
United Kingdom
CR0 1NG
Business address
c/o Croydon Commitment
Mott Macdonald House
8-10 Sydenham Road
Croydon
Surrey
CR0 2EE
CROYDON COMMITMENT EVENTS LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 6
CROYDON COMMITMENT EVENTS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2016
- 1 -
The directors present their annual report and financial statements for the year ended 31 December 2016.
Principal activities
The principal activity of the company during the period was to carry out fundraising activities on behalf of its parent charity, Croydon Commitment Limited, and to promote the voluntary sector for the benefit of the public in Croydon and the surrounding area. The company's surpluses are passed to the charity by way of gift aid donation.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr J E D Hill
(Resigned 2 March 2016)
Mr S Phaure
(Resigned 9 June 2016)
Mr A F Feast
Mr S Dorman
Mrs K Glass
Miss J Dakin
Mrs R F Farrar
(Appointed 2 February 2016)
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 K Glass
Director
25 September 2017
CROYDON COMMITMENT EVENTS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CROYDON COMMITMENT EVENTS LIMITED FOR THE YEAR ENDED 31 DECEMBER 2016
- 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 Croydon Commitment Events Limited for the year ended 31 December 2016 set out on pages 3 to 6 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 Croydon Commitment Events Limited, as a body, in accordance with the terms of our engagement letter dated 2 September 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Croydon Commitment Events Limited
and state those matters that we have agreed to state to the Board of Directors of Croydon Commitment Events 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 Croydon Commitment Events Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Croydon Commitment Events 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 Croydon Commitment Events Limited. You consider that Croydon Commitment Events 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 Croydon Commitment Events 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.
DS & Co. Ltd
25 September 2017
Chartered Accountants
306 High Street
Croydon
Surrey
United Kingdom
CR0 1NG
CROYDON COMMITMENT EVENTS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2016
- 3 -
2016
2015
Notes
£
£
Turnover
1,070
1,653
Cost of sales
-
(110)
Gross profit
1,070
1,543
Administrative expenses
(372)
(962)
Other operating expenses
(698)
(581)
Profit before taxation
-
-
Tax on profit
-
-
Profit for the financial year
-
-
CROYDON COMMITMENT EVENTS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2016
31 December 2016
- 4 -
2016
2015
Notes
£
£
£
£
Current assets
Cash at bank and in hand
14,520
13,528
Creditors: amounts falling due within one year
2
(14,420)
(13,428)
Net current assets
100
100
Capital and reserves
Called up share capital
3
100
100
For the financial year ended 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
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 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 25 September 2017 and are signed on its behalf by:
Mrs K Glass
Director
Company Registration No. 06367316
CROYDON COMMITMENT EVENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
- 5 -
1
Accounting policies
Company information
Croydon Commitment Events Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Kings Parade, Lower Coombe Street, Croydon, CR0 1AA.
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 principal accounting policies adopted are set out below.
These financial statements for the year ended 31 December 2016
are the
first
financial statements of Croydon Commitment Events Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for 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
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.
CROYDON COMMITMENT EVENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
1
Accounting policies
(Continued)
- 6 -
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 creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, 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.
2
Creditors: amounts falling due within one year
2016
2015
£
£
Amounts due to group undertakings
14,120
12,528
Other creditors
300
900
14,420
13,428
3
Called up share capital
2016
2015
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
100
100
4
Parent company
The ultimate parent company is Croydon Commitment Limited.
The registered office of Croydon Commitment Limited is Kings Parade, Lower Coombe Street, Croydon, Surrey, CR0 1AA.
Croydon Commitment Limited principal place of business is Mott Macdonald House, 8-10 Sydenham Road, Croydon, Surrey, CR0 2EE