REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
FOR |
COLTRANE ASSET MANAGEMENT UK LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
FOR |
COLTRANE ASSET MANAGEMENT UK LIMITED |
COLTRANE ASSET MANAGEMENT UK LIMITED (REGISTERED NUMBER: 11826688) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
COLTRANE ASSET MANAGEMENT UK LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
First Floor, Templeback |
10 Temple back |
Bristol |
BS1 6FL |
COLTRANE ASSET MANAGEMENT UK LIMITED (REGISTERED NUMBER: 11826688) |
BALANCE SHEET |
28 FEBRUARY 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
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 |
COLTRANE ASSET MANAGEMENT UK LIMITED (REGISTERED NUMBER: 11826688) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
1. | STATUTORY INFORMATION |
Coltrane Asset Management UK Limited is a |
The Company's functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover represents the amount due from the parent company, Coltrane Asset Management L.P. for research services provided. In accordance with the Intercompany Service Agreement, turnover is recognised as costs incurred plus a 10% markup. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. |
Basic financial liabilities |
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price. |
Taxation |
Taxation for the year comprises of Current tax 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 at the balance sheet date. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
COLTRANE ASSET MANAGEMENT UK LIMITED (REGISTERED NUMBER: 11826688) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Prepayments |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Tax |
Payroll taxes | 14,889 | 15,993 |
Pension Payable | 2,901 | 2,948 |
Accrued expenses |
6. | ULTIMATE CONTROLLING PARTY |
The company is a wholly owned subsidiary of Coltrane Asset Management, LP, a limited partnership registered in Delaware, USA. The registered address is c/o Corporation Service Company, 251 Little Falls Drive, Wilmington, Delaware 19808. |