Charcol Management Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07129093

CHARCOL MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2017

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Investment property

4

339,151

339,151

CURRENT ASSETS

Debtors

5

18,901

20,028

Cash at bank

24,954

28,424

43,855

48,452

CREDITORS

Amounts falling due within one year

6

392,168

396,255

NET CURRENT LIABILITIES

(348,313

)

(347,803

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,162

)

(8,652

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(9,163

)

(8,653

)

SHAREHOLDERS' FUNDS

(9,162

)

(8,652

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 31 October 2017 and were signed by:

Mrs C G Collins - Director

1.	STATUTORY INFORMATION

Charcol Management Limited is a private company, limited by shares, registered in England. The registered

office is 113 Kingsway, London, WC2B 8PP.

The financial statements are presented in Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard Applicable in the UK and Republic of

Ireland" and the Companies Act 2006. There were no material departures from the standard. The financial

statements have been prepared under the historic cost convention as modified by the revaluation of certain assets.

As at 31 January 2017, the company's liabilities exceeded its assets. Due to continued financial support by the

director and the company's creditors, the director considers that the going concern basis of preparation remains

appropriate.

Investment property

The company's property is held for long term investment. Investment properties are accounted for as follows:

(i) Investment properties are initially recorded at cost which includes purchase cost and any directly attributable

expenditure.

(ii) Thereafter, investment properties are revalued at each balance sheet date to their fair value, where this can be

measured reliably.

(iii) The surplus or deficit arising on revaluation in the financial year is recognised in the profit and loss account

for that year. Revaluation gains and losses are accumulated in the profit and loss account reserve, unless the

revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a non-distributable

reserve (fair value reserve) in the balance sheet.

(iv) Deferred taxation is provided on any gains at the rate expected to apply when a property is sold.

Financial instruments

The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic

financial instruments are initially recognised at transaction value and subsequently measured at their settlement

value.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. 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.

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in

respect of all timing differences that have originated but not reversed at the balance sheet date. However,

deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that

there will be suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in

the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted

at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is

presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the

transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2016

and 31 January 2017

339,151

NET BOOK VALUE

At 31 January 2017

339,151

At 31 January 2016

339,151

The fair value of the investment property at 31 January 2017, has been arrived at on the basis of a valuation

carried out at that date by the company director, who is not a professionally qualified valuer. In the opinion of

the director, the cost of the investment property equates to its fair value as at 31 January 2017. The valuation,

which does not differ from the valuation at the end of the previous reporting period, was arrived at by reference

to market evidence of transaction prices for similar properties in their location.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

18,901

20,028

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

-

1,158

Other creditors

392,168

395,097

392,168

396,255

7.	FIRST YEAR ADOPTION

As required in Section 35 of FRS 102, the balances previously reported under the old UK GAAP at the date of

transition, 1 February 2015, and the prior year end, 31 January 2016 need to be restated for the changes which

have occurred on transition to FRS 102.

No restatement of the Profit and Loss Account or Balance Sheet and no changes to accounting policies have been

required on transition.