Coolavin Holdings Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 01632652 (England and Wales)

Coolavin Holdings Limited

Unaudited Financial Statements

for the Year Ended 31 December 2022

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

Notes to the financial statements

5

Directors:

J F Finn

Mrs S Finn

Registered office:

28 March Road

Wimblington

March

Cambridgeshire

PE15 0RN

Registered number:

01632652 (England and Wales)

Accountants:

Moore Thompson

Monica House

St Augustines Road

Wisbech

Cambs

PE13 3AD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Coolavin Holdings Limited for the year ended 31 December 2022 which comprise the Income statement, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Coolavin Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Coolavin Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Coolavin Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coolavin Holdings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Coolavin Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Coolavin Holdings Limited. You consider that Coolavin Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Coolavin Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore Thompson

Monica House

St Augustines Road

Wisbech

Cambs

PE13 3AD

2 March 2023

Fixed assets

Tangible assets

5

-

-

Investments

6

385,000

500,000

Investment property

7

3,513,708

3,271,338

3,898,708

3,771,338

Current assets

Debtors

8

5,954

5,012

Cash at bank

1,526,918

1,407,957

1,532,872

1,412,969

Creditors

Amounts falling due within one year

9

44,690

34,705

Net current assets

1,488,182

1,378,264

Total assets less current liabilities

5,386,890

5,149,602

Provisions for liabilities

205,240

159,190

Net assets

5,181,650

4,990,412

Capital and reserves

Called up share capital

50,002

50,002

Capital redemption reserve

10

7,803

7,803

Other reserves

10

1,697,222

(74,878

)

Retained earnings

10

3,426,623

5,007,485

5,181,650

4,990,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 1 March 2023 and were signed on its behalf by:

J F Finn - Director

1.	Statutory information

Coolavin Holdings 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.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 etc

-

25% on a straight line basis

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4.	Employees and directors

The average number of employees during the year was 2 (2021 - 2 ) .

5.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 January 2022

and 31 December 2022

2,682

Depreciation

At 1 January 2022

and 31 December 2022

2,682

Net book value

At 31 December 2022

-

6.	Fixed asset investments

Other

investments

£

Cost

At 1 January 2022

500,000

Disposals

(115,000

)

At 31 December 2022

385,000

Net book value

At 31 December 2022

385,000

At 31 December 2021

500,000

7.	Investment property

Total

£

Fair value

At 1 January 2022

3,271,338

Revaluations

242,370

At 31 December 2022

3,513,708

Net book value

At 31 December 2022

3,513,708

At 31 December 2021

3,271,338

Fair value at 31 December 2022 is represented by:

£

Valuation in 2016

888,754

Valuation in 2017

83,750

Valuation in 2018

197,704

Valuation in 2019

83,444

Valuation in 2021

406,440

Valuation in 2022

242,370

Cost

1,611,246

3,513,708

If investment property had not been revalued it would have been included at the following historical cost:

2022

2021

£

£

Cost

1,611,246

1,611,246

Investment property was valued on an open market value basis on 31 December 2022 by J F Finn (Director) .

8.

Debtors: amounts falling due within one year

2022

2021

£

£

Other debtors

5,954

5,012

9.

Creditors: amounts falling due within one year

2022

2021

£

£

Taxation and social security

26,440

17,085

Other creditors

18,250

17,620

44,690

34,705

10.

Reserves

Capital

Retained

redemption

Other

earnings

reserve

reserves

Totals

£

£

£

£

At 1 January 2022

5,007,485

7,803

(74,878

)

4,940,410

Profit for the year

290,738

290,738

Dividends

(99,500

)

(99,500

)

Transfer to revaluation

reserve

(1,772,100

)

-

1,772,100

-

At 31 December 2022

3,426,623

7,803

1,697,222

5,131,648