Combined Corporation Limited Small abridged accounts
Combined Corporation Limited Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
SC186178
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Abridged Financial Statements |
Year Ended 31 October 2017
Contents |
Page |
Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements |
1 |
Abridged Statement of Financial Position |
2 |
Notes to the Abridged Financial Statements |
4 |
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Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
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Year Ended 31 October 2017
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Abridged Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed Assets
Tangible assets |
5 |
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Current Assets
Stocks |
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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 Liabilities |
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Total Assets Less Current Liabilities |
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Creditors: amounts falling due after more than one year |
6 |
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Provisions
Taxation including deferred tax |
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Net Assets |
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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 income statement has not been delivered.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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Abridged Statement of Financial Position (continued) |
These abridged financial statements were approved by the
board of directors
and authorised for issue on
8 June 2018
, and are signed on behalf of the board by:
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Director |
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Company registration number:
SC186178
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Notes to the Abridged Financial Statements |
Year Ended 31 October 2017
1.
General Information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Combined House, Howe Moss Terrace, Dyce, Aberdeen, AB21 0GR, Scotland.
2.
Statement of Compliance
3.
Accounting Policies
Basis of Preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 November 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Revenue Recognition
Income Tax
Foreign Currencies
Tangible Assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery |
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Fixtures, Fittings and Equipment |
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Motor Vehicles |
- |
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Yacht |
- |
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Impairment of Fixed Assets
Stocks
Finance Leases and Hire Purchase Contracts
Provisions
Financial Instruments
4.
Employee Numbers
The average number of persons employed by the company during the year amounted to
7
(2016:
6
).
5.
Tangible Assets
£ |
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Cost |
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At 1 November 2016 |
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Additions |
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Disposals |
(
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At 31 October 2017 |
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Depreciation |
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At 1 November 2016 |
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Charge for the year |
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Disposals |
(
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At 31 October 2017 |
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Carrying amount |
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At 31 October 2017 |
941,165 |
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At 31 October 2016 |
831,391 |
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6.
Creditors:
amounts falling due after more than one year
Included within creditors: amounts falling due after more than one year is an amount of £62,143 (2016: £Nil) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
7.
Related Party Transactions
The company was under the control of
Mr E Stamper
throughout the current and previous year. Mr E Stamper
is the managing director and Combined Corporation BVI Ltd is the majority shareholder. At the year end the company owed related party company Combined Corporation BVI Ltd £1,307,552 (2016 - £1,125,710). There are no set repayment terms or interest accruing on this balance. At the year end the company was due to receive £538,647 (2016 - £701,283) from related party company Combined Pumps Limited. There is no set repayment terms or interest accruing on this balance. At the year end the company was due £4,027 (2016 - £4,027) from related party company Combined FZLLC. There is no set repayment terms or interest accruing on this balance. At the year end the company was due £93,284 (2016 - £5,500 due from) to related party company Black Thistle Distillery Ltd. There is no set repayment terms or interest accruing on this balance. At the year end the company was due £558,304 (2016 - £nil) from related party company Black Thistle Distilleries Ltd. There is no set repayment terms or interest accruing on this balance.
8.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 November 2015.
No transitional adjustments were required in equity or profit or loss for the year.
9.
Control
The ultimate parent undertaking is Combined Corporation BVI which was incorported in the British Virgin Islands.