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Registered Number: 04865062
England and Wales

 

 

 

COLCHESTER PROPERTY MANAGEMENT LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 October 2022

End date: 30 September 2023
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Colchester Property Management Limited for the year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Colchester Property Management Limited for the year ended 30 September 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Colchester Property Management Limited , as a body, in accordance with the terms of our engagement letter dated 19 February 2024. Our work has been undertaken solely to prepare for your approval the accounts of Colchester Property Management Limited and state those matters that we have agreed to state to the Board of Directors of Colchester Property Management 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 Colchester Property Management Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Colchester Property Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Colchester Property Management Limited . You consider that Colchester Property Management Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Colchester Property Management 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 accounts
30 September 2023



....................................................
Wood & Disney Limited
Lodge Park
Lodge Lane
Langham
Colchester
CO4 5NE
19 February 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3   4,300 
Tangible fixed assets 4 11,243    7,436 
Investments 5 1    1 
11,244    11,737 
Current assets      
Debtors 18,664    17,090 
Cash at bank and in hand 81,337    509,851 
100,001    526,941 
Creditors: amount falling due within one year (35,605)   (432,150)
Net current assets 64,396    94,791 
 
Total assets less current liabilities 75,640    106,528 
Net assets 75,640    106,528 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 75,540    106,428 
Shareholder's funds 75,640    106,528 
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 19 February 2024 and were signed on its behalf by:


-------------------------------
Gary D Everett
Director
2
General Information
Colchester Property Management Limited is a private company, limited by shares, registered in England and Wales, registration number 04865062, registration address 11 NORTH HILL, COLCHESTER, ESSEX, CO1 1DZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 33% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Average number of employees

Average number of employees during the year was 10 (2022 : 10).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 October 2022 43,000    43,000 
Additions  
Disposals  
At 30 September 2023 43,000    43,000 
Amortisation
At 01 October 2022 38,700    38,700 
Charge for year 4,300    4,300 
On disposals  
At 30 September 2023 43,000    43,000 
Net book values
At 30 September 2023  
At 30 September 2022 4,300    4,300 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 October 2022 35,485    25,144    60,629 
Additions 3,294    3,535    6,829 
Disposals    
At 30 September 2023 38,779    28,679    67,458 
Depreciation
At 01 October 2022 29,943    23,250    53,193 
Charge for year 1,852    1,170    3,022 
On disposals    
At 30 September 2023 31,795    24,420    56,215 
Net book values
Closing balance as at 30 September 2023 6,984    4,259    11,243 
Opening balance as at 01 October 2022 5,542    1,894    7,436 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 October 2022 1    1 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 30 September 2023 1    1 

3