Coburg Banks Limited Small abridged accounts
Coburg Banks Limited Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
06659534
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For the year ended |
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Abridged Financial Statements |
Year ended 31 March 2017
Contents |
Pages |
Abridged statement of financial position |
1 to 2 |
Notes to the abridged financial statements |
3 to 5 |
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Abridged Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Current assets
Debtors |
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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 assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
4 |
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Net assets |
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Abridged Statement of Financial Position (continued) |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Capital and reserves
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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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 abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
21 December 2017
, and are signed on behalf of the board by:
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Director |
Company registration number:
06659534
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Notes to the Abridged Financial Statements |
Year ended 31 March 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Wrens Court, Lower Queen Street, Sutton Coldfield, B72 1RT.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
Judgements and key sources of estimation uncertainty
Revenue recognition
Financial instruments
4.
Creditors:
amounts falling due after more than one year
The long term creditor is a commercial mortgage which contains a fixed and floating charge over the assets of the company.
5.
Directors' advances, credits and guarantees
There have been no transactions with directors during the current year (2016 - nil).
6.
Related party transactions
During the year the company entered into transactions under normal commercial trading terms with its parent company The Angel Services Group Limited. Management charges of £1,480,000 (2016 - £1,050,000) were payable to The Angel Services Group Limited. At the balance sheet date the company was owed £150,539 (2016 - £209,514) by The Angel Services Group Limited. At the balance sheet date the company owed £26,506 (2016 - £27,444) to Coburg Banks IT Limited, a fellow subsidiary of The Angel Services Group Limited.
7.
Controlling party
The company is a wholly owned subsidiary of The Angel Services Group Limited.
In the opinion of the directors there is no ultimate controlling party.