Columbus Technologies Limited - Period Ending 2019-10-31

Columbus Technologies Limited

Contents

Statement of financial position	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

Columbus Technologies Limited

(Registration number: 11000199)
Statement of financial position as at 31 October 2019

	Note	2019 £	2018 £
Fixed assets
Intangible assets	4	117,219	-
Current assets
Debtors	5	30,684	-
Cash at bank and in hand		12,228	100
		42,912	100
Creditors: Amounts falling due within one year	6	(140,045)	-
Net current (liabilities)/assets		(97,133)	100
Net assets		20,086	100
Capital and reserves
Called up share capital	7	100	100
Profit and loss account		19,986	-
Shareholders' funds		20,086	100

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Columbus Technologies Limited

(Registration number: 11000199)
Statement of financial position as at 31 October 2019

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 Income statement has been taken.

Approved and authorised by the Board on 28 October 2020 and signed on its behalf by:
 

......................................... Mr I Bruce Director

Columbus Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2019

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:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the Board on 28 October 2020.

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 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.

Development costs

Development expenditure is capitalised and amortised over its useful life.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Columbus Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2019

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2018 - 0).

Columbus Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2019

4	Intangible assets

	Development costs £	Total £
Cost or valuation
Additions	117,219	117,219
At 31 October 2019	117,219	117,219
Carrying amount
At 31 October 2019	117,219	117,219
At 31 October 2018	-	-

5

Debtors

	2019 £	2018 £
Other debtors	30,684	-
	30,684	-

Columbus Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2019

6

Creditors

Creditors: amounts falling due within one year

	2019 £	2018 £
Due within one year
Accruals and deferred income	27,394	-
Other creditors	112,651	-
	140,045	-

7	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100