Registration number:
Cotton Twist Ltd
for the Year Ended 30 June 2018
Cotton Twist Ltd
Contents
Balance Sheet |
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Notes to the Financial Statements |
Cotton Twist Ltd
(Registration number: 10253211)
Balance Sheet as at 30 June 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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For the financial year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
Page 1 |
Cotton Twist Ltd
Notes to the Financial Statements for the Year Ended 30 June 2018
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal place of business is:
4 Kingscote Road
Chiswick
London
W4 5LJ
These financial statements were authorised for issue by the
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings, tools and equipment |
Straight line over 4 years |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Page 2 |
Cotton Twist Ltd
Notes to the Financial Statements for the Year Ended 30 June 2018
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost |
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At 1 July 2017 |
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Additions |
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At 30 June 2018 |
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Depreciation |
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At 1 July 2017 |
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Charge for the period |
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At 30 June 2018 |
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Net book value |
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At 30 June 2018 |
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At 30 June 2017 |
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Stocks |
2018 |
2017 |
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Other inventories |
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Debtors |
2018 |
2017 |
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Trade debtors |
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- |
Prepayments |
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- |
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- |
Page 3 |
Cotton Twist Ltd
Notes to the Financial Statements for the Year Ended 30 June 2018
Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Taxation and social security |
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- |
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Corporation tax |
3,870 |
857 |
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Other creditors |
- |
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Other related parties |
35,605 |
8,295 |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Page 4 |