Registered number
08867640
COLTRON COMPUTERS LIMITED
Filleted Accounts
31 January 2023
COLTRON COMPUTERS LIMITED
Registered number: 08867640
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Current assets
Stocks 6,260 4,800
Debtors 3 29,475 26,955
Cash at bank and in hand 17 17
35,752 31,772
Creditors: amounts falling due within one year 4 (17,629) (14,073)
Net current assets 18,123 17,699
Total assets less current liabilities 18,123 17,699
Creditors: amounts falling due after more than one year 5 (13,667) (17,390)
Net assets 4,456 309
Capital and reserves
Called up share capital 100 100
Profit and loss account 4,356 209
Shareholders' funds 4,456 309
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Christopher Colahar
Director
Approved by the board on 18 October 2023
COLTRON COMPUTERS LIMITED
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Trade debtors 11,455 8,935
Other debtors 18,020 18,020
29,475 26,955
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,760 1,093
Trade creditors 2,672 3,468
Corporation tax 4,340 5,432
Other taxes and social security costs 211 81
Other creditors 4,646 3,999
17,629 14,073
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 13,667 17,390
6 Other information
COLTRON COMPUTERS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
400 Hitchin Road
Luton
Bedfordshire
LU2 7ST
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