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Registration number: 08580889

Cambridge Management Partners Ltd

Annual Report and Unaudited Financial Statements

for the Period from 24 December 2016 to 22 December 2017

D A Green & Sons
Chartered Certified Accountants
12 The Broadway
St. Ives
Cambridgeshire
PE27 5BN

 

Cambridge Management Partners Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Cambridge Management Partners Ltd

Company Information

Director

Mr A J Crouch

Registered office

St Johns Innovation Centre
Cowley Road
Cambridge
CB4 0WS

Accountants

D A Green & Sons
Chartered Certified Accountants
12 The Broadway
St. Ives
Cambridgeshire
PE27 5BN

 

Cambridge Management Partners Ltd

(Registration number: 08580889)
Balance Sheet as at 22 December 2017

Note

2017
£

2016
£

Current assets

 

Debtors

4

21,664

13,024

Creditors: Amounts falling due within one year

5

(21,444)

(12,847)

Net assets

 

220

177

Capital and reserves

 

Called up share capital

6

100

100

Profit and loss account

120

77

Total equity

 

220

177

For the financial period ending 22 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 13 November 2018
 

.........................................

Mr A J Crouch
Director

 

Cambridge Management Partners Ltd

Notes to the Financial Statements for the Period from 24 December 2016 to 22 December 2017

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
St Johns Innovation Centre
Cowley Road
Cambridge
CB4 0WS

These financial statements were authorised for issue by the director on 13 November 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Cambridge Management Partners Ltd

Notes to the Financial Statements for the Period from 24 December 2016 to 22 December 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2016 - 2).

 

Cambridge Management Partners Ltd

Notes to the Financial Statements for the Period from 24 December 2016 to 22 December 2017

4

Debtors

2017
£

2016
£

Other debtors

21,664

13,024

21,664

13,024

5

Creditors

Creditors: amounts falling due within one year

Note

2017
£

2016
£

Due within one year

 

Bank loans and overdrafts

7

5,534

8,692

Taxation and social security

 

8,240

1,795

Accruals and deferred income

 

500

500

Other creditors

 

7,170

1,860

 

21,444

12,847

6

Share capital

Allotted, called up and fully paid shares

 

2017

2016

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

7

Loans and borrowings

2017
£

2016
£

Current loans and borrowings

Bank overdrafts

5,534

8,692

8

Dividends

Interim dividends paid

   

2017
£

 

2016
£

Interim dividend of £300.00 (2016 - £73.00) per each Ordinary

 

30,000

 

7,300

         
 

Cambridge Management Partners Ltd

Notes to the Financial Statements for the Period from 24 December 2016 to 22 December 2017

9

Related party transactions

Directors' remuneration

The director's remuneration for the period was as follows:

2017
£

2016
£

Remuneration

6,000

6,000