Registered number
10120571
Coultons Estate Agents Limited
Filleted Accounts
30 April 2023
Coultons Estate Agents Limited
Registered number: 10120571
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 118,355 69,385
Current assets
Debtors 4 66,946 57,437
Cash at bank and in hand 70,449 37,871
137,395 95,308
Creditors: amounts falling due within one year 5 (206,378) (129,780)
Net current liabilities (68,983) (34,472)
Net assets 49,372 34,913
Capital and reserves
Called up share capital 100 100
Profit and loss account 49,272 34,813
Shareholders' funds 49,372 34,913
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.
Paolo di Bernardo
Director
Approved by the board on 23 November 2023
Coultons Estate Agents Limited
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 8
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2022 18,540 67,426 72,699 158,665
Additions - 55,245 13,946 69,191
Disposals - - (20,221) (20,221)
At 30 April 2023 18,540 122,671 66,424 207,635
Depreciation
At 1 May 2022 - 39,639 49,641 89,280
At 30 April 2023 - 39,639 49,641 89,280
Net book value
At 30 April 2023 18,540 83,032 16,783 118,355
At 30 April 2022 18,540 27,787 23,058 69,385
4 Debtors 2023 2022
£ £
Trade debtors 29,661 20,152
Other debtors 37,285 37,285
66,946 57,437
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 21,937 4
Trade creditors 27,946 8,960
Taxation and social security costs 27,917 21,526
Other creditors 128,578 99,290
206,378 129,780
6 Controlling party
Mr Di Bernardo holds 30 shares , Mrs Themis Terry Di Bernardo 20 shares and MMP London Limited 50 Ordinary shares and 1 B Ordinary share out of all issued share capital.
7 Other information
Coultons Estate Agents Limited is a private company limited by shares and incorporated in England. Its registered office is:
26 Station Road
North Chingford
London
E4 7BE
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