Collingwood Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05317412 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2021

for

Collingwood Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L J Collingwood

SECRETARY:

Miss S J A Quelch

REGISTERED OFFICE:

62 Plantation Drive

North Ferriby

East Yorkshire

HU14 3BB

REGISTERED NUMBER:

05317412 (England and Wales)

FIXED ASSETS

Tangible assets

4

30

38

Investment property

5

252,822

252,822

252,852

252,860

CURRENT ASSETS

Debtors

6

120

-

Cash at bank

7,763

8,330

7,883

8,330

CREDITORS

Amounts falling due within one year

7

54,573

55,729

NET CURRENT LIABILITIES

(46,690

)

(47,399

)

TOTAL ASSETS LESS CURRENT LIABILITIES

206,162

205,461

CREDITORS

Amounts falling due after more than one year

8

167,545

167,545

NET ASSETS

38,617

37,916

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

38,517

37,816

38,617

37,916

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Profit and Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 February 2022 and were signed by:

L J Collingwood - Director

1.	STATUTORY INFORMATION

Collingwood Homes 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

The financial statements are prepared under the historical cost convention as modified by the revaluation of investment properties and in accordance with all applicable accounting standards. The financial statements are in compliance with the Companies Act 1985 except that, as explained below, investment properties are not depreciated.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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 Profit and Loss account, 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 June 2020

and 31 May 2021

78

329

712

1,119

DEPRECIATION

At 1 June 2020

75

294

712

1,081

Charge for year

1

7

-

8

At 31 May 2021

76

301

712

1,089

NET BOOK VALUE

At 31 May 2021

2

28

-

30

At 31 May 2020

3

35

-

38

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2020

and 31 May 2021

252,822

NET BOOK VALUE

At 31 May 2021

252,822

At 31 May 2020

252,822

Fair value at 31 May 2021 is represented by:

£

Valuation in 2011

30,498

Valuation in 2013

20,000

Cost

202,324

252,822

If the properties had not been revalued they would have been included at the following historical cost:

31.5.21

31.5.20

£

£

Cost

202,324

202,324

The properties were valued on an open market basis on 31 May 2021 by the director, Mr L J Collingwood .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Prepayments

120

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Trade creditors

1,200

1,200

Corporation tax

703

530

Directors' current accounts

51,379

52,780

Accrued expenses

1,291

1,219

54,573

55,729

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.21

31.5.20

£

£

Bank loans more 5 yrs non-inst

115,000

115,000

Other loans more 5yrs instal

51,400

51,400

Other creditors

1,145

1,145

167,545

167,545

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

115,000

115,000

Repayable by instalments

Other loans more 5yrs instal

51,400

51,400

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.21

31.5.20

£

£

Bank loans

115,000

115,000

The bank also holds a debenture which includes a fixed and floating charge over the undertaking and all property and assets present and future.

10.	RELATED PARTY DISCLOSURES

Goods and services were provided by a related party in the year, in the sum of £4,500.

The related party is a close family member of the director.

11.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.