Consensus Commercial Management Limited Accounts

CONSENSUS COMMERCIAL MANAGEMENT LIMITED - Company Information






Consensus Commercial Management Limited

	Company No. 08540004
		Information for Filing with The Registrar
		31 December 2018

at	31 December 2018
Company No.		08540004	Notes	2018	2017
				£	£
Fixed assets

	Tangible assets		3	11,599	7,999


				11,599	7,999
Current assets

	Debtors		4	25,999	11,287

	Cash at bank and in hand			29,316	15,206
				55,315	26,493
Creditors: Amount falling due within one year			5	(46,511)	(34,303)
Net current assets/(liabilities)				8,804	(7,810)
Total assets less current liabilities				20,403	189

Provisions for liabilities
	Deferred taxation		6	(563)	(187)

Net assets				19,840	2

Capital and reserves
	Called up share capital			2	2



	Profit and loss account		7	19,838	-

Total equity				19,840	2



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 31 December 2018
And signed on its behalf by:
K.F. Donohoe
Director

for the year ended 31 December 2018

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

The accounts are presented in Sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

25% reducing balance

Furniture, fittings and equipment

25% reducing balance

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2	Employees
			2018	2017
			Number	Number
		The average number of persons employed during the year :	2	2

3	Tangible fixed assets
			Land and buildings	Plant and machinery	Fixtures, fittings and equipment	Total
			£	£	£	£
		Cost or revaluation
		At 1 January 2018	7,000	1,391	1,294	9,685
		Additions	1,634	-	2,954	4,588



		At 31 December 2018	8,634	1,391	4,248	14,273
		Depreciation
		At 1 January 2018	-	986	700	1,686
		Charge for the year	-	101	887	988



		At 31 December 2018	-	1,087	1,587	2,674
		Net book values
		At 31 December 2018	8,634	304	2,661	11,599
		At 31 December 2017	7,000	405	594	7,999

4	Debtors
			2018	2017
			£	£


		Corporation tax recoverable	6,377	-


		Loans to directors	19,622	11,236

		Prepayments and accrued income	-	51
			25,999	11,287

5	Creditors:
		amounts falling due within one year
			2018	2017
			£	£

		Bank loans and overdrafts	729	1,102
		Other loans	2,536	2,842



		Corporation tax	37,809	18,943
		Other taxes and social security	5,437	11,161


		Accruals and deferred income	-	255
			46,511	34,303

6	Provisions for liabilities
		Deferred taxation

			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 January 2018	187	187
		Charge to the profit and loss account for the period	376	376

		At 31 December 2018	563	563



			2018	2017
			£	£



		Other timing differences	563	187
			563	187

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

8	Dividends
			2018	2017
			£	£
		Dividends for the period:
		Dividends paid in the period	114,000	77,858

			114,000	77,858

		Dividends by type:

		Equity dividends	114,000	77,858
			114,000	77,858

Additional information

Its registered number is:

08540004

The Bridgford Business Ctr

29 Bridgford Road

Nottingham

NG2 6AU