ACCOUNTS - Final Accounts

BORDER CORDAGE LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-08-312021-08-312022-05-302020-09-01falseNo description of principal activity44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04475557 2020-09-01 2021-08-31 04475557 2019-09-01 2020-08-31 04475557 2021-08-31 04475557 2020-08-31 04475557 c:Director1 2020-09-01 2021-08-31 04475557 c:Director2 2020-09-01 2021-08-31 04475557 d:CurrentFinancialInstruments 2021-08-31 04475557 d:CurrentFinancialInstruments 2020-08-31 04475557 d:CurrentFinancialInstruments d:WithinOneYear 2021-08-31 04475557 d:CurrentFinancialInstruments d:WithinOneYear 2020-08-31 04475557 d:ShareCapital 2021-08-31 04475557 d:ShareCapital 2020-08-31 04475557 d:RetainedEarningsAccumulatedLosses 2021-08-31 04475557 d:RetainedEarningsAccumulatedLosses 2020-08-31 04475557 c:FRS102 2020-09-01 2021-08-31 04475557 c:AuditExempt-NoAccountantsReport 2020-09-01 2021-08-31 04475557 c:FullAccounts 2020-09-01 2021-08-31 04475557 c:PrivateLimitedCompanyLtd 2020-09-01 2021-08-31 iso4217:GBP xbrli:pure

Registered number: 04475557

BORDER CORDAGE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

BORDER CORDAGE LIMITED

REGISTERED NUMBER: 04475557

BALANCE SHEET

AS AT 31 AUGUST 2021

		2021		2020
Note		£		£


Current assets
Stocks	4	24,862		20,679
Debtors: amounts falling due within one year	5	47,129		2,833
Cash at bank and in hand	6	32,985		50,301
		104,976		73,813
Creditors: amounts falling due within one year	7	(23,885)		(14,515)
Net current assets			81,091		59,298
Total assets less current liabilities			81,091		59,298

Net assets			81,091		59,298

Capital and reserves
Called up share capital	100	100
Profit and loss account	80,991	59,198
	81,091	59,298

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question 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 financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 May 2022.

S Coburn	L Coburn
Director	Director

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BORDER CORDAGE LIMITED

REGISTERED NUMBER: 04475557

BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2021

The notes on pages 3 to 6 form part of these financial statements.

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BORDER CORDAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

1.	General information

Border Cordage Limited is a private limited company, limited by shares, incorporated in
England and Wales. Its registered office is c/o The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ. The
company number is 04475557.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙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 Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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BORDER CORDAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

2.Accounting policies (continued)

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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BORDER CORDAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

2.Accounting policies (continued)

2.9

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.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2021	2020
	No.	No.

Directors	2	2
Production	2	2

	4	4

4.	Stocks
		2021	2020
		£	£

Raw materials and consumables	24,862	20,679
	24,862	20,679

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BORDER CORDAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

Debtors

					2021	2020
					£	£


Trade debtors	45,103	-
Other debtors	2,026	2,833
	47,129	2,833

6.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	32,985	50,301
	32,985	50,301

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Trade creditors	11,313	3,177
Corporation tax	4,972	2,950
Other taxation and social security	-	788
Accruals and deferred income	7,600	7,600
	23,885	14,515

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