Collateral Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08168704 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

FOR

COLLATERAL LTD

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Investment property

4

319,763

319,763

CURRENT ASSETS

Debtors

5

-

15,451

Cash at bank and in hand

10,667

4,421

10,667

19,872

CREDITORS

Amounts falling due within one year

6

21,791

93,189

NET CURRENT LIABILITIES

(11,124

)

(73,317

)

TOTAL ASSETS LESS CURRENT LIABILITIES

308,639

246,446

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

308,539

246,346

308,639

246,446

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

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

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 February 2022 and were signed on its behalf by:

S S Gill - Director

1.	STATUTORY INFORMATION

Collateral Limited is a private company, limited by shares, registered in England and Wales, registered number 08168704. Its registered office is Blackthorns House, 80-82 Dudley Road, Lye, Stourbridge, DY9 8ET.

The financial statements are presented in Sterling, which is the functional currency of the company

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Taxation

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

Government grants

Amounts receivable from the government under its' Coronavirus assistance packages have been accounted for on an accruals basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2020

and 31 August 2021

319,763

NET BOOK VALUE

At 31 August 2021

319,763

At 31 August 2020

319,763

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Trade debtors

-

15,451

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Taxation and social security

14,500

10,000

Other creditors

7,291

83,189

21,791

93,189