REGISTERED NUMBER: 11737085 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2022

for

Corbbs Limited

Page

Company information

1

Abridged statement of financial position

2

Notes to the financial statements

4

Director:

J V Corbett

Registered office:

Abacus House

14-18 Forest Road

Loughton

Essex

IG10 1DX

Registered number:

11737085 (England and Wales)

Accountants:

Cooper Paul

Abacus House

14-18 Forest Road

Loughton

Essex

IG10 1DX

Fixed assets

Investment property

4

150,000

145,000

Current assets

Cash at bank

1,573

1,609

Creditors

Amounts falling due within one year

(46,912

)

(45,486

)

Net current liabilities

(45,339

)

(43,877

)

Total assets less current liabilities

104,661

101,123

Creditors

Amounts falling due after more than one year

5

(102,245

)

(102,245

)

Net assets/(liabilities)

2,416

(1,122

)

Capital and reserves

Called up share capital

1

1

Fair value reserve

6

11,775

6,775

Retained earnings

(9,360

)

(7,898

)

Shareholders' funds

2,416

(1,122

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 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.

All the members have consented to the preparation of an abridged Income statement and an abridged Statement of financial position for the year ended 31st December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4th October 2023 and were signed by:

J V Corbett - Director

1.	Statutory information

Corbbs 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 as modified by the revaluation of certain assets.

Turnover

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

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.

3.	Employees and directors

The average number of employees during the year was 1 (2021 - 1 ) .

4.	Investment property

Total

£

Fair value

At 1st January 2022

145,000

Revaluations

5,000

At 31st December 2022

150,000

Net book value

At 31st December 2022

150,000

At 31st December 2021

145,000

Fair value at 31st December 2022 is represented by:

£

Valuation in 2019

138,225

Valuation in 2020

1,775

Valuation in 2021

5,000

Valuation in 2022

5,000

150,000

5.

Creditors: amounts falling due after more than five years

2022

2021

£

£

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

102,245

102,245

6.

Reserves

Fair

value

reserve

£

At 1st January 2022

6,775

Fair value reserve

5,000

At 31st December 2022

11,775

7.	Going concern

The accounts have been prepared on a going concern basis despite the deficiency disclosed in the balance sheet, and in anticipation of the continued financial support of the company's creditors.