Cole Management Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07110721 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

COLE MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J Cole

A Millis

REGISTERED OFFICE:

Studio LMTR.0B.1

Trowbray House, The Leathermarket

108 Weston Street

London

SE1 3QB

REGISTERED NUMBER:

07110721 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Intangible assets

4

7,893

9,020

Tangible assets

5

96,173

26,401

104,066

35,421

CURRENT ASSETS

Debtors

6

420,798

419,017

Cash at bank

20,502

23,255

441,300

442,272

CREDITORS

Amounts falling due within one year

7

187,835

150,823

NET CURRENT ASSETS

253,465

291,449

TOTAL ASSETS LESS CURRENT LIABILITIES

357,531

326,870

CREDITORS

Amounts falling due after more than one year

8

22,981

32,780

NET ASSETS

334,550

294,090

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

333,550

293,090

334,550

294,090

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2023 and were signed on its behalf by:

R J Cole - Director

1.	STATUTORY INFORMATION

Cole Management 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.

Turnover

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

Revenue is recognised at the point the invoiced is raised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website and Brand are being amortised evenly over their estimated useful life of 10 years.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors has considered the risks and issues concerning the company and it's activities and no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern have been identified by the directors.

Provisions

Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the profit and loss over the expected useful lives of the assets to which they relate .Government grants which are not directly attributable to fixed assets are recognised in the profit and loss in accordance with the accruals method in line with FRS 102.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2022

and 31 March 2023

11,275

AMORTISATION

At 1 April 2022

2,255

Charge for year

1,127

At 31 March 2023

3,382

NET BOOK VALUE

At 31 March 2023

7,893

At 31 March 2022

9,020

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2022

-

-

3,978

57,589

61,567

Additions

7,967

60,000

4,100

5,424

77,491

At 31 March 2023

7,967

60,000

8,078

63,013

139,058

DEPRECIATION

At 1 April 2022

-

-

1,200

33,966

35,166

Charge for year

-

-

1,035

6,684

7,719

At 31 March 2023

-

-

2,235

40,650

42,885

NET BOOK VALUE

At 31 March 2023

7,967

60,000

5,843

22,363

96,173

At 31 March 2022

-

-

2,778

23,623

26,401

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

187,574

240,960

Other debtors

21,427

6,022

Provision for doubtful debts

(49,680

)

(19,853

)

Directors' loan accounts

220,971

177,834

Prepayments

40,506

14,054

420,798

419,017

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

28,275

9,510

Trade creditors

15,252

17,743

Corporation Tax

85,043

67,712

Social security and other taxes

7,047

4,808

VAT

51,769

49,739

Other creditors

449

1,311

187,835

150,823

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans - 1-2 years

10,097

9,799

Bank loans - 2-5 years

12,884

22,981

22,981

32,780

9.	TRANSACTIONS WITH DIRECTORS

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

2023

2022

£

£

R J Cole

Balance outstanding at start of year

171,234

42,950

Amounts advanced

241,911

128,804

Amounts repaid

(232,120

)

(520

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

181,025

171,234

D A Berry

Balance outstanding at start of year

6,600

-

Amounts advanced

63,301

6,600

Amounts repaid

(33,106

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

36,795

6,600

A Millis

Balance outstanding at start of year

-

-

Amounts advanced

15,031

-

Amounts repaid

(11,880

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,151

-

Interest is being charged on the loan at the HMRC approved rate. There are no set repayment terms.

10.	POST BALANCE SHEET EVENTS

Mr D A Berry, one of the Director of the company has resigned on 31/05/2023 after the balance sheet date.