Coles Lane Properties Limited - Accounts to registrar (filleted) - small 18.2

Coles Lane Properties Limited - Accounts to registrar (filleted) - small 18.2

COLES LANE PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 00984359 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

FOR

COLES LANE PROPERTIES LIMITED
COLES LANE PROPERTIES LIMITED (REGISTERED NUMBER: 00984359)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

COLES LANE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2020







DIRECTOR: K L Mayell





REGISTERED OFFICE: 70 Grand Parade
BRIGHTON
East Sussex
BN2 9JA





REGISTERED NUMBER: 00984359 (England and Wales)





ACCOUNTANTS: KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH
Page 1
COLES LANE PROPERTIES LIMITED (REGISTERED NUMBER: 00984359)

BALANCE SHEET
30 JUNE 2020

2020 2019
Notes £    £   
CURRENT ASSETS
Stocks 4 - 6,580
Debtors 5 227,375 65,982
Cash at bank - 8,864
227,375 81,426
CREDITORS
Amounts falling due within one year 6 15,518 3,579
NET CURRENT ASSETS 211,857 77,847
TOTAL ASSETS LESS CURRENT
LIABILITIES
211,857
77,847

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 211,757 77,747
SHAREHOLDERS' FUNDS 211,857 77,847

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 March 2021 and were signed by:





K L Mayell - Director


The notes form part of these financial statements

Page 2
COLES LANE PROPERTIES LIMITED (REGISTERED NUMBER: 00984359)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020


1. STATUTORY INFORMATION

Coles Lane Properties 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
The financial statements have been prepared under the historical cost convention.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

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.

Turnover
Turnover represents the sale of ground rents.

Stocks
Stocks are valued at the lower of cost and net realisable value.

Financial instruments
(i) Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Cash and cash equivalents
Cash includes cash in hand and deposits held with banks. Bank overdrafts, when applicable, are shown within borrowings in current liabilities. Cash equivalents are highly liquid investments that are readily convertible to known amounts of cash with insignificant risk of change in value.

3. EMPLOYEES AND DIRECTORS

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

Page 3 continued...
COLES LANE PROPERTIES LIMITED (REGISTERED NUMBER: 00984359)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2020


4. STOCKS
2020 2019
£    £   
Freeholds for resale - 6,580

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Other debtors 8,644 8,644
Amounts owed by group undertakings 218,731 57,338
227,375 65,982

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Tax 14,078 2,139
Accrued expenses 1,440 1,440
15,518 3,579

7. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Page 4
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
COLES LANE PROPERTIES LIMITED


The following reproduces the text of the report prepared for the director 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 Director 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 Coles Lane Properties Limited for the year ended 30 June 2020 which comprise the Profit & Loss Account, Balance Sheet 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 director of Coles Lane Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Coles Lane Properties Limited and state those matters that we have agreed to state to the director of Coles Lane Properties Limited 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 Coles Lane Properties Limited and its director for our work or for this report.

It is your duty to ensure that Coles Lane Properties 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 Coles Lane Properties Limited. You consider that Coles Lane Properties 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 Coles Lane Properties 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.






KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH


5 March 2021

This page does not form part of the statutory financial statements

Page 5