REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2024 |
for |
Coltrad Ltd. |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2024 |
for |
Coltrad Ltd. |
Coltrad Ltd. (Registered number: 02523855) |
Contents of the Financial Statements |
for the Year Ended 31st March 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Coltrad Ltd. (Registered number: 02523855) |
Balance Sheet |
31st March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
Coltrad Ltd. (Registered number: 02523855) |
Balance Sheet - continued |
31st March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Coltrad Ltd. (Registered number: 02523855) |
Notes to the Financial Statements |
for the Year Ended 31st March 2024 |
1. | STATUTORY INFORMATION |
Coltrad Ltd. is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Sales comprise the fair value of the consideration received or receivable for the sale of commodities in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts. |
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows: |
Revenue from the sale of commodities is recognised at the point at which the commodities have been delivered to the customer. |
Profit share received from companies in which the company is a corporate partner is recognised in the year in which the company is entitled to receive a share of profits. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Coltrad Ltd. (Registered number: 02523855) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
3. | ACCOUNTING POLICIES - continued |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Basic financial liabilities |
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Coltrad Ltd. (Registered number: 02523855) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st April 2023 |
and 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Charge for year |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
6. | FIXED ASSET INVESTMENTS |
The amount included as a fixed asset investment represents the company's capital account outstanding as at the balance sheet date in Coltrad (Kent) LLP. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | - | 196,889 |
VAT |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
VAT | - | 622 |
Directors' current accounts | 24,639 | - |
Accrued expenses |
Included within the figure: 'Creditors due after more than one year' on the Balance Sheet are the above stated value of creditors owed in more than five years. |
Coltrad Ltd. (Registered number: 02523855) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Loan - 1-2 years | 10,816 | 10,550 |
Loan - 2-5 years | 9,273 | 21,064 |
10. | RELATED PARTY DISCLOSURES |
During the year under review, the company has been a corporate partner in Coltrad (Kent) LLP. As at the balance sheet date, the fixed asset investment of £452,278 (2023: £448,872) is made up of capital account in Coltrad (Kent) LLP. |