Collingwood Homes Limited - Accounts to registrar (filleted) - small 18.2
Collingwood Homes Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 May 2020 |
| for |
| Collingwood Homes Limited |
| Collingwood Homes Limited (Registered number: 05317412) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Collingwood Homes Limited |
| Company Information |
| for the Year Ended 31 May 2020 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Collingwood Homes Limited (Registered number: 05317412) |
| Balance Sheet |
| 31 May 2020 |
| 31.5.20 | 31.5.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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. |
| Collingwood Homes Limited (Registered number: 05317412) |
| Balance Sheet - continued |
| 31 May 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Collingwood Homes Limited (Registered number: 05317412) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2020 |
| 1. | STATUTORY INFORMATION |
| Collingwood Homes Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are prepared under the historical cost convention as modified by the revaluation of investment properties and in accordance with all applicable accounting standards. The financial statements are in compliance with the Companies Act 1985 except that, as explained below, investment properties are not depreciated. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| In accordance with Statement of Standard Accounting Practice No.19, depreciation is not provided on freehold investment properties. This is a departure from the Companies Act 1985, which requires all properties to be depreciated. Such properties are not held for consumption but for investment and the directors consider that to depreciate them would not give a true and fair view. The properties are to be revalued on an annual interval basis. Depreciation is only one of the many factors reflected in the annual valuation of properties and accordingly the amount depreciation, which might otherwise have been charged, cannot be separately identified or quantified, the directors consider that this policy results in the accounts giving a true and fair view. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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. |
| Collingwood Homes Limited (Registered number: 05317412) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 June 2019 |
| and 31 May 2020 |
| DEPRECIATION |
| At 1 June 2019 |
| Charge for year |
| At 31 May 2020 |
| NET BOOK VALUE |
| At 31 May 2020 |
| At 31 May 2019 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 June 2019 |
| and 31 May 2020 |
| NET BOOK VALUE |
| At 31 May 2020 |
| At 31 May 2019 |
| Collingwood Homes Limited (Registered number: 05317412) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 5. | INVESTMENT PROPERTY - continued |
| Fair value at 31 May 2020 is represented by: |
| £ |
| Valuation in 2011 | 30,498 |
| Valuation in 2013 | 20,000 |
| Cost | 202,324 |
| 252,822 |
| If the properties had not been revalued they would have been included at the following historical cost: |
| 31.5.20 | 31.5.19 |
| £ | £ |
| Cost | 202,324 | 202,324 |
| The properties were valued on an open market basis on 31 May 2020 by the director, Mr L J Collingwood . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.20 | 31.5.19 |
| £ | £ |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.20 | 31.5.19 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Directors' current accounts |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.20 | 31.5.19 |
| £ | £ |
| Bank loans more 5 yrs non-inst | 115,000 | 115,000 |
| Other loans more 5yrs instal |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| Repayable by instalments |
| Other loans more 5yrs instal | 51,400 | 51,400 |
| Collingwood Homes Limited (Registered number: 05317412) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.5.20 | 31.5.19 |
| £ | £ |
| Bank loans |
| The bank also holds a debenture which includes a fixed and floating charge over the undertaking and all property and assets present and future. |
| 10. | RELATED PARTY DISCLOSURES |
| Purchases were made to a related party in the year, in the sum of £3,586. |
| The related party is a close family member of the director. |
| 11. | ULTIMATE CONTROLLING PARTY |
| There is no ultimate controlling party. |