1 June 2023 v2024.35.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP040884852023-06-012024-05-31040884852024-05-31040884852023-05-3104088485core:WithinOneYear2024-05-3104088485core:WithinOneYear2023-05-3104088485core:ShareCapital2024-05-3104088485core:ShareCapital2023-05-3104088485core:SharePremium2024-05-3104088485core:SharePremium2023-05-3104088485core:RevaluationReserve2024-05-3104088485core:RevaluationReserve2023-05-3104088485core:RetainedEarningsAccumulatedLosses2024-05-3104088485core:RetainedEarningsAccumulatedLosses2023-05-3104088485bus:Director12023-06-012024-05-3104088485bus:RegisteredOffice2023-06-012024-05-3104088485core:FurnitureFittingsToolsEquipment2023-06-012024-05-31040884852022-06-012023-05-3104088485core:LandBuildings2024-05-3104088485core:PlantMachinery2024-05-3104088485core:PlantMachinery2023-06-01040884852023-06-0104088485core:PlantMachinery2023-06-012024-05-3104088485core:LandBuildings2023-05-3104088485core:PlantMachinery2023-05-3104088485core:CostValuation2023-06-0104088485core:AdditionsToInvestments2024-05-3104088485core:DisposalsRepaymentsInvestments2024-05-3104088485core:RevaluationsIncreaseDecreaseInInvestments2024-05-3104088485core:CostValuation2024-05-310408848512023-06-012024-05-3104088485countries:EnglandWales2023-06-012024-05-3104088485bus:AuditExemptWithAccountantsReport2023-06-012024-05-3104088485bus:PrivateLimitedCompanyLtd2023-06-012024-05-3104088485bus:SmallEntities2023-06-012024-05-3104088485bus:FullAccounts2023-06-012024-05-3104088485bus:CompanySecretary12023-06-012024-05-31
Company registration number:
04088485
Colt House Investments Limited
Unaudited Filleted Financial Statements for the year ended
31 May 2024
Colt House Investments Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Colt House Investments Limited
Year ended
31 May 2024
As described on the statement of financial position, the Board of Directors of
Colt House Investments Limited
are responsible for the preparation of the
financial statements
for the year ended
31 May 2024
, which comprise the income statement, statement of total comprehensive income, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Butterworth & Co
20 Beaumont Street
Todmorden
OL14 5JZ
United Kingdom
Date:
30 July 2024
Colt House Investments Limited
Statement of Financial Position
31 May 2024
20242023
Note££
Fixed assets    
Tangible assets 5
910,872
 
911,163
 
Investments 6
563
 
201,679
 
911,435
 
1,112,842
 
Current assets    
Debtors 7
841
 
455
 
Cash at bank and in hand
622,558
 
447,789
 
623,399
 
448,244
 
Creditors: amounts falling due within one year 8
(1,955
)
(2,084
)
Net current assets
621,444
 
446,160
 
Total assets less current liabilities 1,532,879   1,559,002  
Capital and reserves    
Called up share capital
100
 
100
 
Share premium
438,280
 
438,280
 
Revaluation reserve
174,474
 
241,608
 
Profit and loss account
920,025
 
879,014
 
Shareholders funds
1,532,879
 
1,559,002
 
For the year ending
31 May 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
25 July 2024
, and are signed on behalf of the board by:
E Smith
Director
Company registration number:
04088485
Colt House Investments Limited
Notes to the Financial Statements
Year ended
31 May 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Colthouse Ramsgill
,
Pateley Bridge
,
Harrogate
,
North Yorkshire
,
HG3 5AE
, .

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Revenue recognition

The turnover shown in the statement of comprehensive income represents rents receivable from the company's investment properties during the year.
Foreign currency transactions are initially recorded in the functional currency by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reported date with any gains or losses being taken to profit or loss.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial positiion date. 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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
25% reducing balance

Fixed asset investments

Fixed asset investments are initially recorded at cost and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Defined contribution pension plan

The company operates a defined contribution pension scheme. Contributions payable are charged to profit and loss in the period to which they relate.

Unit trust investments

Unit trust investments are inittially recorded at cost and then revalued annually to reflect any change in market value.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 June 2023
and
31 May 2024
910,000
 
19,679
 
929,679
 
Depreciation      
At
1 June 2023
-  
18,516
 
18,516
 
Charge -  
291
 
291
 
At
31 May 2024
-  
18,807
 
18,807
 
Carrying amount      
At
31 May 2024
910,000
 
872
 
910,872
 
At 31 May 2023
910,000
 
1,163
 
911,163
 
The land and buildings consist of three houses and a plot of land held for their investment potential. One of the houses is in Spain. The investment properties excluding the land are used in operating leases.

Tangible assets held at valuation

Investment property

The company's investment properties were valued by the director on 31 May 2024. No valuation was made by an independent valuer holding a recognised qualification during the year. The properties have not been depreciated by the director who considers them to have a very long useful economic life and a high residual value. If the investment properties were sold at their revalued amounts, capital gains tax in the region of £34,946 would become payable.

6 Investments

Other investments other than loans
£
Cost or valuation  
At
1 June 2023
201,679
 
Additions
3,544
 
Disposals
(204,575
)
Revaluations
(85
)
At
31 May 2024
563
 
Impairment  
At
1 June 2023
and
31 May 2024
-  
Carrying amount  
At
31 May 2024
563
 
At 31 May 2023
201,679
 

7 Debtors

20242023
££
Other debtors
841
 
455
 

8 Creditors: amounts falling due within one year

20242023
££
Taxation and social security
649
 
422
 
Other creditors
1,306
 
1,662
 
1,955
 
2,084
 

9 Director's advances, credit and guarantees

At the end of the year the company owed the director Mr Edward Smith £334 (2023-£334).

10 Controlling party

The company was under the control of Mr E W Smith during the current and previous year. Mr Smith is the managing director and owns 95% of the issued share capital of the company.