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Registration number: 08803909

Colin Brett Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Colin Brett Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Colin Brett Limited

Company Information

Chairman

C R Brett

Chief executive

C R Brett

Registered office

Basepoint Business Centre
110 Butterfield
Luton
Bedfordshire
LU2 8DL

Accountants

Holmes Peat Thorpe
Chartered Accountants
Basepoint Business Centre
110 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

 

Colin Brett Limited

(Registration number: 08803909)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

30,000

30,000

Current assets

 

Debtors

16,132

11,128

Cash at bank and in hand

 

1,395

1,276

 

17,527

12,404

Creditors: Amounts falling due within one year

(36,815)

(34,595)

Net current liabilities

 

(19,288)

(22,191)

Net assets

 

10,712

7,809

Capital and reserves

 

Called up share capital

4

100

100

Retained earnings

10,612

7,709

Shareholders' funds

 

10,712

7,809

For the financial year 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 November 2023 and signed on its behalf by:
 

.........................................
C R Brett
Chairman and chief executive

 

Colin Brett Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Basepoint Business Centre
110 Butterfield
Luton
Bedfordshire
LU2 8DL
England

The principal place of business is:
Suite 128E
Business Design Centre
52 Upper Street
Islington
London
N1 0QH
England

These financial statements were authorised for issue by the Board on 15 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements were prepared in accordance with Financial Reporting Standard 102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Group accounts not prepared

The company is exempt from the requirements to prepare group accounts because it is subject to the small companies regime at 28 February 2017 and it is not a member of a group which contains certain types of undertaking as set out in the Companies Act 2006 s 399 (2B)
.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting date.

 

Colin Brett Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of people employed by the company (including directors) during the year was 1 (2022 - 1).

 

Colin Brett Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100