Coley Chemicals Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 05326528 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

COLEY CHEMICALS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

7

DIRECTORS:

Dr T J Swanston

M Coley

SECRETARY:

M Coley

REGISTERED OFFICE:

2 St Faiths Road

St Cross

Winchester

Hampshire

SO23 9QB

REGISTERED NUMBER:

05326528 (England and Wales)

ACCOUNTANTS:

Rothmans LLP

Avebury House

St Peter Street

Winchester

Hampshire

SO23 8BN

FIXED ASSETS

Tangible assets

4

1,380

1,044

Investments

5

70,448

70,448

71,828

71,492

CURRENT ASSETS

Debtors

6

22,144

19,550

Cash at bank

123,018

116,070

145,162

135,620

CREDITORS

Amounts falling due within one year

7

15,083

19,163

NET CURRENT ASSETS

130,079

116,457

TOTAL ASSETS LESS CURRENT LIABILITIES

201,907

187,949

PROVISIONS FOR LIABILITIES

262

199

NET ASSETS

201,645

187,750

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

201,644

187,749

SHAREHOLDERS' FUNDS

201,645

187,750

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 21 June 2023 and were signed on its behalf by:

Dr T J Swanston - Director

1.	STATUTORY INFORMATION

Coley Chemicals 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.

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.

The company earns commissions from sales related to the supply of chemicals and pharmaceuticals made directly by manufacturers. The company has an entitlement to the commission when the customer has paid and recognises as income such commission at that time.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures and Fittings - 10% reducing balance.

Computer Equipment - 10% reducing balance.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

4,019

Additions

489

At 31 March 2023

4,508

DEPRECIATION

At 1 April 2022

2,975

Charge for year

153

At 31 March 2023

3,128

NET BOOK VALUE

At 31 March 2023

1,380

At 31 March 2022

1,044

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2022

and 31 March 2023

70,448

NET BOOK VALUE

At 31 March 2023

70,448

At 31 March 2022

70,448

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

20,592

18,606

Other debtors

1,552

944

22,144

19,550

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

38

28

Taxation and social security

12,920

14,811

Other creditors

2,125

4,324

15,083

19,163

8.	FINANCIAL INSTRUMENTS

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023

2022

£

£

M Coley

Balance outstanding at start of year

(2

)

(2

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2

)

(2

)

Dr T J Swanston

Balance outstanding at start of year

(2,094

)

(1,558

)

Amounts advanced

5,000

290

Amounts repaid

(2,476

)

(826

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

430

(2,094

)

The loans to/(from) the directors with the company are interest free and repayable on demand.

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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 Coley Chemicals Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Coley Chemicals 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 Coley Chemicals Limited and state those matters that we have agreed to state to the Board of Directors of Coley Chemicals 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 Coley Chemicals Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Coley Chemicals 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 Coley Chemicals Limited. You consider that Coley Chemicals 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 Coley Chemicals 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.

Rothmans LLP

Avebury House

St Peter Street

Winchester

Hampshire

SO23 8BN

21 June 2023