Comitto Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 08737173

Comitto Limited

Filleted Unaudited Abridged Financial Statements

31 October 2020

Comitto Limited

Abridged Statement of Financial Position

31 October 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	5		928,944	929,434

Current assets

Debtors	1,387	–
Cash at bank and in hand	617,823	631,545
	---------	---------
	619,210	631,545

Creditors: amounts falling due within one year	1,375,955		1,410,636
	------------		------------
Net current liabilities		756,745	779,091
		---------	---------
Total assets less current liabilities		172,199	150,343
		---------	---------

Capital and reserves

Called up share capital	8	8
Profit and loss account	172,191	150,335
	---------	---------
Shareholders funds	172,199	150,343
	---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 31 October 2020 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 abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 October 2020 in accordance with Section 444(2A) of the Companies Act 2006.

Comitto Limited

Abridged Statement of Financial Position (continued)

31 October 2020

These abridged financial statements were approved by the board of directors and authorised for issue on 28 June 2021 , and are signed on behalf of the board by:

Mr B S Purewal
Director

Company registration number: 08737173

Comitto Limited

Notes to the Abridged Financial Statements

Year ended 31 October 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 42 The Square, Kenilworth, CV8 1EB.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2019: 1 ).

5. Tangible assets

	£
Cost
At 1 November 2019 and 31 October 2020	934,242
	---------
Depreciation
At 1 November 2019	4,808
Charge for the year	490
	---------
At 31 October 2020	5,298
	---------
Carrying amount
At 31 October 2020	928,944
	---------
At 31 October 2019	929,434
	---------

6. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2020
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr B S Purewal	( 1,400,206)	50,034	( 1,350,172)
	------------	--------	------------

	2019
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr B S Purewal	( 1,003,373)	( 396,833)	( 1,400,206)
	------------	---------	------------

7. Related party transactions

The company was under the control of Mr B Purewal throughout the current and previous year. Mr B Purewal is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.