Coloni Limited - Abbreviated accounts 16.1
Coloni Limited - Abbreviated accounts 16.1
DRAFT |
REGISTERED NUMBER: |
COLONI LIMITED |
ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015 |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
COLONI LIMITED |
DRAFT |
The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) |
have been prepared. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Coloni Limited for the year ended 31 December 2015 which comprise the Profit and Loss |
Account, the Balance Sheet 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 at icaew.com/membershandbook. |
This report is made solely to the Board of Directors of Coloni 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 Coloni Limited and state those matters that we have agreed to state to the Board of Directors of Coloni Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Coloni 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 Coloni Limited. You consider that Coloni 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 Coloni 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. |
Chartered Accountants |
5 September 2016 |
COLONI LIMITED (REGISTERED NUMBER: 03880595) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
DRAFT |
Page |
Chartered Accountants' Report | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 3 |
COLONI LIMITED (REGISTERED NUMBER: 03880595) |
ABBREVIATED BALANCE SHEET |
31 DECEMBER 2015 |
2015 | 2014 |
Notes | £ | £ |
DRAFT |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 2 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 3 |
Capital redemption reserve |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors on by: |
COLONI LIMITED (REGISTERED NUMBER: 03880595) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
DRAFT |
1. | ACCOUNTING POLICIES |
Basis of accounting |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
The company was dormant throughout the year ended 31 December 2015. However, reference to information |
relating to the year ended 31 December 2014 has been made where appropriate. |
Turnover |
Turnover represents net sales during the year (excluding value added tax) adjusted for accrued and deferred |
income where applicable. |
Tangible fixed assets and depreciation |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
Fixtures and fittings | 15% straight line |
Computer equipment | 25% straight line |
Motor vehicles | 25% straight line |
Fixed assets |
All fixed assets are initially recorded at cost. |
Taxation |
The charge for taxation is based on the profit for the year and takes into account taxation deferred. |
Current tax is measured at amounts expected to be paid using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
Deferred tax is provided in full on temporary differences which arise between the carrying value of an asset or |
liability and its tax base. Deferred tax assets are recognised to the extent that it is probable that there will be |
sufficient profits in the future to enable the assets to be utilised. Deferred tax assets and liabilities are not |
discounted. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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 the profit and loss account in the period to which they relate. |
Dividends |
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised |
when paid. |
2. | CREDITORS |
Creditors include an amount of £ |
3. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
Ordinary | £1 |
COLONI LIMITED (REGISTERED NUMBER: 03880595) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
DRAFT |
4. | ULTIMATE PARENT COMPANY |
5. | ULTIMATE CONTROLLING PARTY |
During the year the company was under the control of Mr C Bull and Mrs A Bull, by virtue of their majority |
shareholding in the parent company. |