2 28/02/2023 2023-02-28 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-02-02 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 13889819 2022-02-02 2023-02-28 13889819 2023-02-28 13889819 bus:RegisteredOffice 2022-02-02 2023-02-28 13889819 bus:LeadAgentIfApplicable 2022-02-02 2023-02-28 13889819 bus:Director1 2022-02-02 2023-02-28 13889819 bus:Director2 2022-02-02 2023-02-28 13889819 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 13889819 core:AfterOneYear 2023-02-28 13889819 core:WithinOneYear 2023-02-28 13889819 core:ShareCapital 2023-02-28 13889819 core:RetainedEarningsAccumulatedLosses 2023-02-28 13889819 core:LandBuildings core:OwnedOrFreeholdAssets 2022-02-02 2023-02-28 13889819 bus:Director1 2023-02-28 13889819 bus:SmallEntities 2022-02-02 2023-02-28 13889819 bus:AuditExemptWithAccountantsReport 2022-02-02 2023-02-28 13889819 bus:FullAccounts 2022-02-02 2023-02-28 13889819 bus:SmallCompaniesRegimeForAccounts 2022-02-02 2023-02-28 13889819 bus:PrivateLimitedCompanyLtd 2022-02-02 2023-02-28
Company registration number: 13889819
Colosseum Letting Limited
Unaudited filleted financial statements
28 February 2023
Colosseum Letting Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Colosseum Letting Limited
Directors and other information
Directors Mr F De Marchis (Appointed 2 February 2022)
Ms P Hess (Appointed 21 July 2022)
Company number 13889819
Registered office 20 Bloomfield Road
Harpenden
AL5 4DB
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
Colosseum Letting Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Colosseum Letting Limited
Period ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Colosseum Letting Limited for the period ended 28 February 2023 which comprise the statement of financial position and 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 http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Colosseum Letting Limited, as a body, in accordance with the terms of our engagement letter dated 17 February 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Colosseum Letting Limited and state those matters that we have agreed to state to the board of directors of Colosseum Letting Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Colosseum Letting Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Colosseum Letting 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 loss of Colosseum Letting Limited. You consider that Colosseum Letting Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Colosseum Letting 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.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
1 November 2023
Colosseum Letting Limited
Statement of financial position
28 February 2023
28/02/23
Note £ £
Fixed assets
Tangible assets 5 305,046
_______
305,046
Current assets
Debtors 6 57
Cash at bank and in hand 2,149
_______
2,206
Creditors: amounts falling due
within one year 7 ( 91,368)
_______
Net current liabilities ( 89,162)
_______
Total assets less current liabilities 215,884
Creditors: amounts falling due
after more than one year 8 ( 219,245)
_______
Net liabilities ( 3,361)
_______
Capital and reserves
Called up share capital 2
Profit and loss account ( 3,363)
_______
Shareholders deficit ( 3,361)
_______
For the period ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 01 November 2023 , and are signed on behalf of the board by:
Mr F De Marchis
Director
Company registration number: 13889819
Colosseum Letting Limited
Notes to the financial statements
Period ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Bloomfield Road, Harpenden, AL5 4DB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and investment properties measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts are prepared on a going concern basis which assumes the continued support of thecompany directors.
Turnover
Turnover represents the total rental income receivable during the year.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Investment property
Investment property, being property held to earn rentals or for capital appreciation or both, is measured initially at cost, which includes purchase price and any directly attributable expenditure.Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2
5. Tangible assets
Freehold property Total
£ £
Cost
At 2 February 2022 - -
Additions 305,046 305,046
_______ _______
At 28 February 2023 305,046 305,046
_______ _______
Depreciation
At 2 February 2022 and 28 February 2023 - -
_______ _______
Carrying amount
At 28 February 2023 305,046 305,046
_______ _______
The freehold investment property has been valued by the directors at the fair value at 28 February 2023.The historical cost of the freehold property included above at a value of £305,046 was £305,046.
6. Debtors
28/02/23
£
Other debtors 57
_______
7. Creditors: amounts falling due within one year
28/02/23
£
Trade creditors 127
Other creditors 91,241
_______
91,368
_______
8. Creditors: amounts falling due after more than one year
28/02/23
£
Bank loans and overdrafts 219,245
_______
9. Directors advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
Period ended 28/02/23
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr F De Marchis - ( 90,407) ( 90,407)
_______ _______ _______