Coley Chemicals Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05326528 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

COLEY CHEMICALS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Dr T J Swanston

M Coley

SECRETARY:

M Coley

REGISTERED OFFICE:

2 St Faiths Road

St Cross

Winchester

Hampshire

SO23 9QB

REGISTERED NUMBER:

05326528 (England and Wales)

ACCOUNTANTS:

Rothmans LLP

Chartered Accountants

Avebury House

St Peter Street

Winchester

Hampshire

SO23 8BN

FIXED ASSETS

Tangible assets

4

1,468

819

Investments

5

70,448

-

71,916

819

CURRENT ASSETS

Debtors

6

18,411

17,078

Cash at bank

144,770

76,114

163,181

93,192

CREDITORS

Amounts falling due within one year

7

42,320

22,870

NET CURRENT ASSETS

120,861

70,322

TOTAL ASSETS LESS CURRENT LIABILITIES

192,777

71,141

PROVISIONS FOR LIABILITIES

279

268

NET ASSETS

192,498

70,873

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

192,497

70,872

SHAREHOLDERS' FUNDS

192,498

70,873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 22 May 2020 and were signed on its behalf by:

Dr T J Swanston - Director

1.	STATUTORY INFORMATION

Coley Chemicals 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.

The company earns commissions from sales related to the supply of chemicals and pharmaceuticals made directly

by manufacturers. The company has an entitlement to the commission when the customer has paid and

recognises as income such commission at that time.

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

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

3,563

Additions

1,365

Disposals

(1,757

)

At 31 March 2020

3,171

DEPRECIATION

At 1 April 2019

2,744

Charge for year

716

Eliminated on disposal

(1,757

)

At 31 March 2020

1,703

NET BOOK VALUE

At 31 March 2020

1,468

At 31 March 2019

819

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

70,448

At 31 March 2020

70,448

NET BOOK VALUE

At 31 March 2020

70,448

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

17,554

16,190

Other debtors

857

888

18,411

17,078

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

61

702

Taxation and social security

38,042

18,367

Other creditors

4,217

3,801

42,320

22,870

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2020 and

31 March 2019:

2020

2019

£

£

M Coley

Balance outstanding at start of year

(2

)

(2

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2

)

(2

)

Dr T J Swanston

Balance outstanding at start of year

(2,149

)

(1,941

)

Amounts advanced

1,297

-

Amounts repaid

(1,593

)

(208

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,445

)

(2,149

)

The loans are interest free and repayable on demand.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Coley Chemicals Limited for the year ended 31 March 2020 which comprise the Income Statement, Balance

Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Coley Chemicals Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Coley Chemicals Limited and state those matters that we have agreed to state to the Board of Directors of Coley Chemicals Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coley Chemicals Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Coley Chemicals Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Coley Chemicals Limited. You consider that Coley Chemicals Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Coley Chemicals Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rothmans LLP

Chartered Accountants

Avebury House

St Peter Street

Winchester

Hampshire

SO23 8BN

8 June 2020