REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2023 |
for |
Coelrind Ltd |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2023 |
for |
Coelrind Ltd |
Coelrind Ltd (Registered number: 08589011) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Coelrind Ltd |
Company Information |
for the Year Ended 30 June 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
9 Caxton House |
Broad Street |
Cambourne |
Cambridge |
CB23 6JN |
Coelrind Ltd (Registered number: 08589011) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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. |
Coelrind Ltd (Registered number: 08589011) |
Balance Sheet - continued |
30 June 2023 |
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 |
Coelrind Ltd (Registered number: 08589011) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Coelrind Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There are no transitional adjustments, accordingly the comparative figures have not been restated and no need to disclose a reconciliation of equity in these financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Taxation |
Taxation for the year comprises current 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 by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Research and development |
Research expenditure is written off as incurred. Development expenditure is also written off, except where the company is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is deferred and amortised over the period during which the group is expected to benefit. |
Foreign currencies |
Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains and losses on translation are included in the Profit and Loss account. |
Coelrind Ltd (Registered number: 08589011) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
2. | ACCOUNTING POLICIES - continued |
Leases |
Where the Company enters into a lease which entails taking substantially all the risks and rewards of the ownership of an asset, the lease is treated as a ‘finance lease’. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future instalments under such lease, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element which is charged to the Income and Expenditure account, and the capital element which reduces the outstanding obligation for future instalments. |
All other leases are accounted for as ‘operating leases’ and the rental charges are charged to the Income and Expenditure account on a straight line basis over the life of the lease. |
Pension costs and other post-retirement benefits |
The Company operates a defined contribution pension scheme for the benefit of its employees. Its contributions are charged to the Profit and Loss account for the year or period in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year or period end. |
Current taxation |
Corporation tax payable is provided on taxable profits at the current rate. |
Government grants |
Capital based government grants are included within accruals and deferred income in the balance sheet and credited to trading profit over the estimated useful economics lives of the assets to which they relate. |
Client monies |
Monies collected on behalf of clients are held on trust in a separately administered bank account not shown in the balance sheet. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 July 2022 |
Additions |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Coelrind Ltd (Registered number: 08589011) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Other creditors | 20 | 20 |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Other creditors short-term loans made during the year that are repayable on demand and monies invoiced in advance. |
7. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 392 | 292 |
Deferred tax |
£ |
Balance at 1 July 2022 |
Charge to Income Statement during year |
Balance at 30 June 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £0.0001 | 40 | 40 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 July 2022 |
Profit for the year |
At 30 June 2023 |
Coelrind Ltd (Registered number: 08589011) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
10. | RELATED PARTY DISCLOSURES |
In the period the company received no new loans from Mr J O'Sullivan, a director and shareholder of the company. The total balance due to Mr O'Sullivan at the end of the period was £80 (2022: £110). |
In the period the company received no new loans from Mr K Kirk, a director and shareholder of the company. The total balance due to Mr Kirk at the end of the period was £111 (2022: £126). |
In the period the company received no new loans from Mr M Burton, a shareholder of the company. The total balance due from Mr Burton at the end of the period was £10 (2022: £10). |
In the period the company received no new loans from Mr J Duminy, a shareholder of the company. The total balance due from Mr Duminy at the end of the period was £10 (2022: £10). |
These loans are repayable on demand. |
During the financial year the company purchases, on normal commercial terms, management services from Coelrind Ireland Ltd, a company registered in Ireland with number 598072, of which Coelrind Ltd owns 100% of the issued share capital. |
The value of such purchases during the period being reported was £220,119 (2022: £206,355) excluding VAT. The total balance due from Coelrind Ireland Ltd at the end of the period was £8,354 (2022: £8,354). |
11. | ULTIMATE CONTROLLING PARTIES |
The ultimate controlling parties are Mr K Kirk, Mr J O'Sullivan, Mr M Burton and Mr J Duminy who collectively own and control 100% of the issued ordinary share capital of the company. |