Registration number:
CCHMG Ltd
for the Period from 1 April 2017 to 31 December 2017
27 North Bridge Street
Hawick
Borders
TD9 9BD
CCHMG Ltd
Profit and Loss Account for the Period from 1 April 2017 to 31 December 2017
The company has not traded during the period. During this period, the company received no income and incurred no expenditure and therefore made neither profit nor loss.
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CCHMG Ltd
(Registration number: SC501557)
Balance Sheet as at 31 December 2017
Note |
31 December |
31 March |
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Current assets |
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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 liabilities |
( |
( |
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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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Total equity |
( |
( |
For the financial period ending 31 December 2017 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved and authorised by the
.........................................
Director
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CCHMG Ltd
Notes to the Financial Statements for the Period from 1 April 2017 to 31 December 2017
General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
Scotland
The principal place of business is:
1 Huly Hill Road
Newbridge
Edinburgh
EH28 8PH
Scotland
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
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 except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling (£) and rounded to the nearest £0.
Going concern
The company has net liabilities of £8,341 as at 31 December 2017. The company relies on the continued support of the directors to finance the day to day working requirements.
The directors consider it appropriate to prepare the Financial Statements on a going concern basis after consideration of all the information available about the foreseeable future (limited to one year from the date of approval of these financial statements) there is reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future.
If adoption of the going concern basis was inappropriate, adjustments could be required to write down assets to the assessment of their recoverable value, to reclassify fixed assets as current assets and to provide for any further liabilities that may arise.
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CCHMG Ltd
Notes to the Financial Statements for the Period from 1 April 2017 to 31 December 2017
Judgements
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made included: |
Useful economic lives of tangible assets – the annual depreciation charge for tangible assets is sensitive to change in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation, and the physical condition of the assets. |
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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 |
Office equipment |
50% Straight line basis. |
Furniture and fittings |
50% Straight line basis. |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Classification
Recognition and measurement
Impairment
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CCHMG Ltd
Notes to the Financial Statements for the Period from 1 April 2017 to 31 December 2017
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2017 |
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At 31 December 2017 |
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Depreciation |
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At 1 April 2017 |
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At 31 December 2017 |
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Carrying amount |
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At 31 December 2017 |
- |
- |
Cash and cash equivalents |
31 December |
31 March |
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Cash at bank |
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Creditors |
Note |
31 December |
31 March |
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Due within one year |
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Amounts due to related parties |
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Social security and other taxes |
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Share capital |
Allotted, called up and fully paid shares
31 December |
31 March |
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No. |
£ |
No. |
£ |
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1,000 |
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1,000 |
Related party transactions |
Other transactions with directors |
Certain directors have advanced loans to the company. These loans are interest free and repayable on demand. The amount due at 31 December 2017 was £5,000 (31 March 2017 - £5,000.)
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