Silverfin false false 30/11/2023 01/12/2022 30/11/2023 R A Jeckel 24/07/2024 E J Jeckel 20/02/2024 H E Jeckel 24/07/2024 13 August 2024 The principal activity of the company during the financial year was that of other letting and operating of own or leased real estate. 00471054 2023-11-30 00471054 bus:Director1 2023-11-30 00471054 bus:Director2 2023-11-30 00471054 bus:Director3 2023-11-30 00471054 2022-11-30 00471054 core:CurrentFinancialInstruments 2023-11-30 00471054 core:CurrentFinancialInstruments 2022-11-30 00471054 core:ShareCapital 2023-11-30 00471054 core:ShareCapital 2022-11-30 00471054 core:RevaluationReserve 2023-11-30 00471054 core:RevaluationReserve 2022-11-30 00471054 core:CapitalRedemptionReserve 2023-11-30 00471054 core:CapitalRedemptionReserve 2022-11-30 00471054 core:OtherCapitalReserve 2023-11-30 00471054 core:OtherCapitalReserve 2022-11-30 00471054 core:RetainedEarningsAccumulatedLosses 2023-11-30 00471054 core:RetainedEarningsAccumulatedLosses 2022-11-30 00471054 core:LandBuildings 2022-11-30 00471054 core:OfficeEquipment 2022-11-30 00471054 core:LandBuildings 2023-11-30 00471054 core:OfficeEquipment 2023-11-30 00471054 core:CostValuation 2022-11-30 00471054 core:RevaluationsIncreaseDecreaseInInvestments 2023-11-30 00471054 core:CostValuation 2023-11-30 00471054 2022-12-01 2023-11-30 00471054 bus:FilletedAccounts 2022-12-01 2023-11-30 00471054 bus:SmallEntities 2022-12-01 2023-11-30 00471054 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 00471054 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 00471054 bus:Director1 2022-12-01 2023-11-30 00471054 bus:Director2 2022-12-01 2023-11-30 00471054 bus:Director3 2022-12-01 2023-11-30 00471054 core:LandBuildings core:TopRangeValue 2022-12-01 2023-11-30 00471054 core:OfficeEquipment core:BottomRangeValue 2022-12-01 2023-11-30 00471054 core:OfficeEquipment core:TopRangeValue 2022-12-01 2023-11-30 00471054 2021-12-01 2022-11-30 00471054 core:LandBuildings 2022-12-01 2023-11-30 00471054 core:OfficeEquipment 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Company No: 00471054 (England and Wales)

COLIBRI PRESS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

COLIBRI PRESS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

COLIBRI PRESS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 November 2023
COLIBRI PRESS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 20,813 22,945
Investment property 4 18,226,270 18,226,270
Investments 5 1,386,915 1,401,585
19,633,998 19,650,800
Current assets
Debtors 6 188,396 7,947
Cash at bank and in hand 7 3,270,838 3,128,923
3,459,234 3,136,870
Creditors: amounts falling due within one year 8 ( 199,441) ( 202,581)
Net current assets 3,259,793 2,934,289
Total assets less current liabilities 22,893,791 22,585,089
Provision for liabilities ( 3,958,901) ( 3,958,901)
Net assets 18,934,890 18,626,188
Capital and reserves
Called-up share capital 250,000 250,000
Revaluation reserve 40,699 40,699
Capital redemption reserve 321,537 321,537
Other reserves 11,942,578 11,942,578
Profit and loss account 6,380,076 6,071,374
Total shareholders' funds 18,934,890 18,626,188

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

Directors' responsibilities:

The financial statements of Colibri Press Limited (registered number: 00471054) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

R A Jeckel
Director

13 August 2024

COLIBRI PRESS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
COLIBRI PRESS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Colibri Press Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Office equipment 4 - 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, excluding the director 0 0

3. Tangible assets

Land and buildings Office equipment Total
£ £ £
Cost
At 01 December 2022 106,576 1,980 108,556
At 30 November 2023 106,576 1,980 108,556
Accumulated depreciation
At 01 December 2022 83,631 1,980 85,611
Charge for the financial year 2,132 0 2,132
At 30 November 2023 85,763 1,980 87,743
Net book value
At 30 November 2023 20,813 0 20,813
At 30 November 2022 22,945 0 22,945

4. Investment property

Investment property
£
Valuation
As at 01 December 2022 18,226,270
As at 30 November 2023 18,226,270

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 December 2022 1,401,585 1,401,585
Movement in fair value ( 14,670) ( 14,670)
At 30 November 2023 1,386,915 1,386,915
Carrying value at 30 November 2023 1,386,915 1,386,915
Carrying value at 30 November 2022 1,401,585 1,401,585

6. Debtors

2023 2022
£ £
Other debtors 188,396 7,947

7. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 3,270,838 3,128,923

8. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 99,574 89,363
Other creditors 99,867 113,218
199,441 202,581

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Funds owed by Mrs E Jeckel 91,482 0