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REGISTERED NUMBER: 00327956 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

COLT ESTATES LIMITED

COLT ESTATES LIMITED (REGISTERED NUMBER: 00327956)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COLT ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: W E Spiers
Mrs C Spiers





SECRETARIES: Mrs C Spiers
Spain Brothers & Co Limited





REGISTERED OFFICE: Westgate House
87 St Dunstan's Street
Canterbury
Kent
CT2 8AE





REGISTERED NUMBER: 00327956 (England and Wales)





ACCOUNTANTS: Spain Brothers & Co
Chartered Accountants
Westgate House
87 St Dunstans Street
Canterbury
Kent
CT2 8AE

COLT ESTATES LIMITED (REGISTERED NUMBER: 00327956)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,508 2,984
Investments 5 - 110,895
Investment property 6 2,365,000 2,365,000
2,367,508 2,478,879

CURRENT ASSETS
Debtors 7 2 4,396
Cash at bank 131,771 144,364
131,773 148,760
CREDITORS
Amounts falling due within one year 8 9,188 8,720
NET CURRENT ASSETS 122,585 140,040
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,490,093

2,618,919

PROVISIONS FOR LIABILITIES 420,780 320,000
NET ASSETS 2,069,313 2,298,919

CAPITAL AND RESERVES
Called up share capital 9 12,401 12,401
Share premium 10 1,540 1,540
Revaluation reserve 10 1,664,449 1,765,229
Retained earnings 10 390,923 519,749
SHAREHOLDERS' FUNDS 2,069,313 2,298,919

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

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

COLT ESTATES LIMITED (REGISTERED NUMBER: 00327956)

BALANCE SHEET - continued
31ST MARCH 2023


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 28th October 2023 and were signed on its behalf by:





W E Spiers - Director


COLT ESTATES LIMITED (REGISTERED NUMBER: 00327956)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023


1. STATUTORY INFORMATION

Colt Estates 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 (£).


The principal activity of the Company is property investment.

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 represents rents receivable and net invoiced sales of services, excluding VAT.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on tangible fixed assets at annual rates calculated to write off the cost of each asset evenly over its expected useful life as follows:-

Plant and Equipment 10% reducing balance method
Property Improvements 10% straight line method

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in the profit or loss account.

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.


COLT ESTATES LIMITED (REGISTERED NUMBER: 00327956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


2. ACCOUNTING POLICIES - continued
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
Improvements
to
property Equipment Totals
£    £    £   
COST
At 1st April 2022
and 31st March 2023 4,440 3,835 8,275
DEPRECIATION
At 1st April 2022 1,776 3,515 5,291
Charge for year 444 32 476
At 31st March 2023 2,220 3,547 5,767
NET BOOK VALUE
At 31st March 2023 2,220 288 2,508
At 31st March 2022 2,664 320 2,984

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1st April 2022 110,895
Disposals (110,895 )
At 31st March 2023 -
NET BOOK VALUE
At 31st March 2023 -
At 31st March 2022 110,895

COLT ESTATES LIMITED (REGISTERED NUMBER: 00327956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022
and 31st March 2023 2,365,000
NET BOOK VALUE
At 31st March 2023 2,365,000
At 31st March 2022 2,365,000

Fair value at 31st March 2023 is represented by:
£   
Valuation in 2016 1,984,061
Cost 380,939
2,365,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 380,939 380,939
Aggregate depreciation (107,168 ) (107,168 )

Residential investment property was valued on an open market basis in October 2016 by Richard Filmer FNAEA of Gould Harrison Estate Agents. The builders yard was valued on an open market basis by the directors based on rent yields.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade Debtors 2 4,396

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other Taxation and Social Security 1,783 1,128
Other Creditors 7,405 7,592
9,188 8,720

COLT ESTATES LIMITED (REGISTERED NUMBER: 00327956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
12,401 Ordinary 1 12,401 12,401

10. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1st April 2022 519,749 1,540 1,765,229 2,286,518
Deficit for the year (229,606 ) (229,606 )
Transfer between reserves 100,780 - (100,780 ) -
At 31st March 2023 390,923 1,540 1,664,449 2,056,912