Coleman Asset Management Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09261767 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Coleman Asset Management Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M McClean

REGISTERED OFFICE:

3rd Floor, Solar House

1-9 Romford Road

London

E15 4RG

REGISTERED NUMBER:

09261767 (England and Wales)

BANKERS:

Barclays Bank

7 St John's Hill

Clapham

SW11 1TR

FIXED ASSETS

Tangible assets

4

3,431

6,851

Investments

5

161,000

161,000

164,431

167,851

CURRENT ASSETS

Debtors

6

34,691

20,457

Cash at bank

263

-

34,954

20,457

CREDITORS

Amounts falling due within one year

7

195,030

186,379

NET CURRENT LIABILITIES

(160,076

)

(165,922

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,355

1,929

PROVISIONS FOR LIABILITIES

-

1,654

NET ASSETS

4,355

275

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

4,255

175

SHAREHOLDERS' FUNDS

4,355

275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 26 September 2019 and were signed by:

M McClean - Director

1.	STATUTORY INFORMATION

Coleman Asset Management Group Limited is a private company, limited by shares , registered in

England and Wales. The company's registered number and registered office address can be found on

the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on straight line

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2018

and 31 December 2018

13,679

DEPRECIATION

At 1 January 2018

6,828

Charge for year

3,420

At 31 December 2018

10,248

NET BOOK VALUE

At 31 December 2018

3,431

At 31 December 2017

6,851

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2018

and 31 December 2018

161,000

NET BOOK VALUE

At 31 December 2018

161,000

At 31 December 2017

161,000

The Net Book Value as at 31 December 2017 has been restated to £161,000. See note 12.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

Restated

£

£

Other debtors

34,691

20,457

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

Restated

£

£

Bank loans and overdrafts

-

10

Taxation and social security

19,980

25,369

Other creditors

175,050

161,000

195,030

186,379

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2018

and 31 December 2017:

2018

2017

Restated

£

£

M McClean

Balance outstanding at start of year

18,262

(3,266

)

Amounts advanced

64,430

94,624

Amounts repaid

(48,001

)

(73,096

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

34,691

18,262

9.	RELATED PARTY DISCLOSURES

The amount of £nil (£2017: £93,195) included within debtors relates to amounts due from Coleman

Street Management Limited. The director, Mr M McClean, is also a director of Coleman Street

Management Limited.

10.	PRIOR YEAR ADJUSTMENTS

Brought forward Investments of £91,000 have been restated as previously this amount was included in

Debtors.