Columbus Business Management Limited - Period Ending 2022-04-05

Columbus Business Management Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

Columbus Business Management Limited

(Registration number: 03468730)
Balance Sheet as at 5 April 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	4	185,385	170,696
Current assets
Debtors	5	1,367	1,346
Cash at bank and in hand		11,832	9,015
		13,199	10,361
Creditors: Amounts falling due within one year	6	(2,157)	(1,260)
Net current assets		11,042	9,101
Total assets less current liabilities		196,427	179,797
Provisions for liabilities		(7,861)	(5,070)
Net assets		188,566	174,727
Capital and reserves
Called up share capital		100	100
Other reserves		49,982	37,773
Retained earnings		138,484	136,854
Shareholders' funds		188,566	174,727

Columbus Business Management Limited

(Registration number: 03468730)
Balance Sheet as at 5 April 2022

For the financial year ending 5 April 2022 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.

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 Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 May 2022 and signed on its behalf by:
 

......................................... Mr P A Lewis Director

Columbus Business Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2022

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:
Basepoint Business Centre
Rivermead Drive
Westlea
Swindon
Wiltshire
SN5 7EX

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 made up of rents receivable.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Columbus Business Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2022

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and Buildings Leasehold	Nil
Fixtures, Fittings and Equipment	4 and 5 years

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.

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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 2 (2021 - 0).

Columbus Business Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2022

4	Tangible assets

	Long leasehold land and buildings £	Fixtures and fittings £	Total £
Cost or valuation
At 6 April 2021	170,000	5,012	175,012
Revaluations	15,000	-	15,000
At 5 April 2022	185,000	5,012	190,012
Depreciation
At 6 April 2021	-	4,316	4,316
Charge for the year	-	311	311
At 5 April 2022	-	4,627	4,627
Carrying amount
At 5 April 2022	185,000	385	185,385
At 5 April 2021	170,000	696	170,696

Columbus Business Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2022

Revaluation

The fair value of the company's Long leasehold was revalued on 5 April 2022. An independent valuer was not involved.
The carrying amounts of £185,000 were revalued by the directors on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on an arm's length terms for similar properties. If revalued assets were stated at cost on a historical cost basis rather than a fair value basis, the total amounts included would have been as follows:.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £127,157 (2021 - £127,157).

5

Debtors

Current	2022 £	2021 £
Prepayments	1,367	1,346

6

Creditors

Creditors: amounts falling due within one year

	2022 £	2021 £
Due within one year
Other creditors	2,157	1,260