F.O.Colley Limited Filleted accounts for Companies House (small and micro)

F.O.COLLEY LIMITED - Company Information

false false false false false false false false false true false false false false false true false No description of principal activity 2018-09-01 Sage Accounts Production Advanced 2018 - FRS xbrli:pure xbrli:shares iso4217:GBP 06589176 2018-09-01 2019-08-31 06589176 2019-08-31 06589176 2018-08-31 06589176 2018-08-31 06589176 core:PlantMachinery 2018-09-01 2019-08-31 06589176 core:FurnitureFittings 2018-09-01 2019-08-31 06589176 core:MotorVehicles 2018-09-01 2019-08-31 06589176 bus:Director1 2018-09-01 2019-08-31 06589176 core:WithinOneYear 2019-08-31 06589176 core:WithinOneYear 2018-08-31 06589176 core:ShareCapital 2019-08-31 06589176 core:ShareCapital 2018-08-31 06589176 core:RetainedEarningsAccumulatedLosses 2019-08-31 06589176 core:RetainedEarningsAccumulatedLosses 2018-08-31 06589176 bus:Director1 2018-08-31 06589176 bus:Director1 2017-08-31 06589176 bus:SmallEntities 2018-09-01 2019-08-31 06589176 bus:AuditExemptWithAccountantsReport 2018-09-01 2019-08-31 06589176 bus:AbridgedAccounts 2018-09-01 2019-08-31 06589176 bus:SmallCompaniesRegimeForAccounts 2018-09-01 2019-08-31 06589176 bus:PrivateLimitedCompanyLtd 2018-09-01 2019-08-31

COMPANY REGISTRATION NUMBER: 06589176

F.O.Colley Limited

Filleted Unaudited Abridged Financial Statements

31 August 2019

F.O.Colley Limited

Abridged Statement of Financial Position

31 August 2019

	2019	2018
Note	£	£

Fixed assets

Tangible assets	4	–	1,201

Current assets

Debtors	10,648	30,026
Cash at bank and in hand	–	1,763
	----------	----------
	10,648	31,789

Creditors: amounts falling due within one year	12,209	33,350
	----------	----------
Net current liabilities	1,561	1,561
	----------	----------
Total assets less current liabilities	( 1,561)	( 360)
	----------	----------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 1,661)	( 460)
	----------	----------
Shareholder deficit	( 1,561)	( 360)
	----------	----------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- 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 .

All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 August 2019 in accordance with Section 444(2A) of the Companies Act 2006.

F.O.Colley Limited

Abridged Statement of Financial Position (continued)

31 August 2019

These abridged financial statements were approved by the board of directors and authorised for issue on 21 May 2020 , and are signed on behalf of the board by:

Mr AL Watkins
Director

Company registration number: 06589176

F.O.Colley Limited

Notes to the Abridged Financial Statements

Year ended 31 August 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 8, Station Road, Four Ashes Industrial Estate, Four Ashes, Wolverhampton, WV10 7DB.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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	-	25% straight line
Fixtures and fittings	-	25% straight line
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

4. Tangible assets

	£
Cost
At 1 September 2018	18,087
Disposals	( 9,000)
	----------
At 31 August 2019	9,087
	----------
Depreciation
At 1 September 2018	16,886
Disposals	( 7,799)
	----------
At 31 August 2019	9,087
	----------
Carrying amount
At 31 August 2019	–
	----------
At 31 August 2018	1,201
	----------

5. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	2019	2018
	£	£
Mr AL Watkins	( 104)	( 104)
	----------	----------