Colborn Creative Limited - Accounts to registrar (filleted) - small 18.2

Colborn Creative Limited - Accounts to registrar (filleted) - small 18.2

COLBORN CREATIVE LIMITED - Company Information

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REGISTERED NUMBER: 04484862 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

COLBORN CREATIVE LIMITED
COLBORN CREATIVE LIMITED (REGISTERED NUMBER: 04484862)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COLBORN CREATIVE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2021







DIRECTOR: Mr M Colborn





SECRETARY: Mrs V L Colborn





REGISTERED OFFICE: Castle Eden Studios
Castle Eden
Durham
TS27 4SD





REGISTERED NUMBER: 04484862 (England and Wales)





ACCOUNTANTS: Ribchesters
Chartered Accountants
Finchale House
Belmont Business Park
Durham
DH1 1TW
Page 1
COLBORN CREATIVE LIMITED (REGISTERED NUMBER: 04484862)

BALANCE SHEET
31 MARCH 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Investments 4 75 75

CURRENT ASSETS
Debtors 5 173,059 170,022
Cash at bank and in hand 112,208 105,017
285,267 275,039
CREDITORS
Amounts falling due within one year 6 2,662 8,410
NET CURRENT ASSETS 282,605 266,629
TOTAL ASSETS LESS CURRENT
LIABILITIES
282,680
266,704

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 282,580 266,604
SHAREHOLDERS' FUNDS 282,680 266,704

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 June 2021 and were signed by:





Mr M Colborn - Director


The notes form part of these financial statements

Page 2
COLBORN CREATIVE LIMITED (REGISTERED NUMBER: 04484862)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

1. STATUTORY INFORMATION

Colborn Creative 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

Page 3 continued...
COLBORN CREATIVE LIMITED (REGISTERED NUMBER: 04484862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2020
and 31 March 2021 75
NET BOOK VALUE
At 31 March 2021 75
At 31 March 2020 75

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 173,059 170,022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 5 -
Other creditors 2,657 8,410
2,662 8,410

7. CALLED UP SHARE CAPITAL


Allotted and issued:
Number: Class: Nominal 2021 2020
value: £    £   
100 Ordinary shares £1 100 100

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2021 and 31 March 2020:

2021 2020
£    £   
Mr M Colborn and Mrs V L Colborn
Balance outstanding at start of year - 55,879
Amounts advanced - 50,820
Amounts repaid - (106,699 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Page 4 continued...
COLBORN CREATIVE LIMITED (REGISTERED NUMBER: 04484862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021

9. RELATED PARTY DISCLOSURES

During the year the company received dividends of £60,639 (2020: £65,894 from its 75% investment in Multi Media Creative Limited (registered company number 08850909).

Included within other debtors is a balance of £171,975 (2020: £168,938) due from companies which the director is also a director / shareholder. The balances are currently interest free with no fixed terms of repayment.

During the year the directors maintained an interest free loan to the company. As at the balance sheet date the total balance outstanding was £737 (2020: £301).

During the year the company was provided with an interest free loan from a company which one of the directors is also a director / shareholder. As at the balance sheet date the loan had been repaid in full and the balance was £Nil (2020: £6,189).

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