Coltswood Court Block B Limited Filleted accounts for Companies House (small and micro)

COLTSWOOD COURT BLOCK B LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05626883

COLTSWOOD COURT BLOCK B LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 November 2020

COLTSWOOD COURT BLOCK B LIMITED

FINANCIAL STATEMENTS

Year ended 30 November 2020

CONTENTS	PAGE

Balance sheet	1

Notes to the financial statements	2

COLTSWOOD COURT BLOCK B LIMITED

BALANCE SHEET

30 November 2020

	2020	2019
Note	£	£

FIXED ASSETS

Tangible assets	5	60,800	67,200

CURRENT ASSETS

Debtors	6	100	100
Cash at bank and in hand		29,397	30,549
		--------	--------
		29,497	30,649

CREDITORS: amounts falling due within one year	7	( 3,033)	( 21,292)
		--------	--------
NET CURRENT ASSETS		26,464	9,357
		--------	--------
TOTAL ASSETS LESS CURRENT LIABILITIES		87,264	76,557

CREDITORS: amounts falling due after more than one year	8	( 60,686)	( 60,686)
		--------	--------
NET ASSETS		26,578	15,871
		--------	--------

CAPITAL AND RESERVES

Called up share capital	14	14
Profit and loss account	26,564	15,857
	--------	--------
SHAREHOLDERS FUNDS	26,578	15,871
	--------	--------

These 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 profit and loss account has not been delivered.

For the year ending 30 November 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 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 financial statements .

These financial statements were approved by the board of directors and authorised for issue on 15 September 2021 , and are signed on behalf of the board by:

Mr A T Ng

Director

Company registration number: 05626883

COLTSWOOD COURT BLOCK B LIMITED

NOTES TO THE FINANCIAL STATEMENTS

Year ended 30 November 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 31 Harmsworth Way, London, N20 8JT, United Kingdom.

2. STATEMENT OF COMPLIANCE

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

Turnover

Turnover is measured at the fair value of the consideration receivable and represents amounts receivable for rental income, stated net of discounts.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. EMPLOYEE NUMBERS

There were no persons employed by the company during the year or the previous year.

5. TANGIBLE ASSETS

	Freehold property
	£
Cost
At 1 December 2019	67,200
Disposals	( 6,400)
	--------
At 30 November 2020	60,800
	--------
Depreciation
At 1 December 2019 and 30 November 2020	–
	--------
Carrying amount
At 30 November 2020	60,800
	--------
At 30 November 2019	67,200
	--------

Included within the above is investment property as follows:

	£
At 1 December 2019	67,200
Disposals	( 6,400)
	--------
At 30 November 2020	60,800
	--------

Property that is held for long-term rental yields or for capital appreciation is classified as investment property. Investment property is measured initially at cost, including related transaction costs and where applicable borrowing costs. After initial recognition, investment property is carried at fair value. Fair value is based on active market prices, adjusted, if necessary for differences in nature, location or condition of the specific asset. If this information is not available, the company uses alternative valuation methods, such as recent prices on less active markets on discounted cash flow projections. Valuations are performed as of the balance sheet date by the directors who have recent experience in the location and category of the investment property being valued.

6. DEBTORS

	2020	2019
	£	£
Other debtors	100	100
	----	----

7. CREDITORS: amounts falling due within one year

	2020	2019
	£	£
Corporation tax	2,141	–
Other creditors	892	21,292
	-------	--------
	3,033	21,292
	-------	--------

8. CREDITORS: amounts falling due after more than one year

	2020	2019
	£	£
Other creditors	60,686	60,686
	--------	--------

9. RELATED PARTY TRANSACTIONS

Included within creditors is a balance of £60,686 (2019 - £60,686) due to the shareholders. This balance is interest free.