Company Registration No. 09741137 (England and Wales)
Colibri Holdings Limited
Annual report and unaudited financial statements
for the year ended 31 August 2023
Colibri Holdings Limited
Company information
Director
Bridget Scarr
Company number
09741137
Registered office
71 Queen Victoria Street
London
EC4V 4BE
Colibri Holdings Limited
Contents
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 9
Colibri Holdings Limited
Director's report
For the year ended 31 August 2023
1

The director presents her annual report and financial statements for the year ended 31 August 2023.

Principal activities

The principal activity of the company is that of the development and production of television programmes.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Bridget Scarr
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Bridget Scarr
Director
14 August 2024
Colibri Holdings Limited
Chartered accountants' report to the Director on the preparation of the unaudited statutory financial statements of Colibri Holdings Limited for the year ended 31 August 2023
2

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Colibri Holdings Limited for the year ended 31 August 2023 set out on pages 3 to 9 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulation.

This report is made solely to the Board of Directors of Colibri Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Colibri Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Colibri Holdings 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 Colibri Holdings Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Colibri Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Colibri Holdings Limited. You consider that Colibri Holdings 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 financial statements of Colibri Holdings 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 financial statements.

Saffery LLP
Date:
15-08-2024
2024-08-15
Chartered Accountants
71 Queen Victoria Street
London
EC4V 4BE
Colibri Holdings Limited
Profit and loss account
For the year ended 31 August 2023
3
2023
2022
£
£
Turnover
115,885
95,874
Cost of sales
(41,295)
(20,917)
Gross profit
74,590
74,957
Administrative expenses
(19,020)
(16,090)
Operating profit
55,570
58,867
Interest receivable and similar income
32
1
Profit before taxation
55,602
58,868
Tax on profit
-
0
-
0
Profit for the financial year
55,602
58,868

The profit and loss account has been prepared on the basis that all operations are continuing operations.

Colibri Holdings Limited
Balance sheet
As at 31 August 2023
31 August 2023
4
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,394
1,662
Current assets
Debtors
4
1,214
10,916
Cash at bank and in hand
3
246
1,217
11,162
Creditors: amounts falling due within one year
5
(38,958)
(79,773)
Net current liabilities
(37,741)
(68,611)
Total assets less current liabilities
(36,347)
(66,949)
Creditors: amounts falling due after more than one year
6
(112,300)
(137,300)
Net liabilities
(148,647)
(204,249)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(148,747)
(204,349)
Total equity
(148,647)
(204,249)

For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 15 August 2024
Bridget Scarr
Director
Company Registration No. 09741137
Colibri Holdings Limited
Notes to the financial statements
For the year ended 31 August 2023
5
1
Accounting policies
Company information

Colibri Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Queen Victoria Street, London, EC4V 4BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. This is based on the director's ability to provide support to the entity to meet its ongoing commitments. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

IT equipment
Straight line over 3 years

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.

Colibri Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 August 2023
1
Accounting policies (continued)
6
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
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 current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include debtors, 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.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Colibri Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 August 2023
1
Accounting policies (continued)
7
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (excluding directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
Colibri Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 August 2023
8
3
Tangible fixed assets
IT equipment
£
Cost
At 1 September 2022
8,621
Additions
889
At 31 August 2023
9,510
Depreciation and impairment
At 1 September 2022
6,959
Depreciation charged in the year
1,157
At 31 August 2023
8,116
Carrying amount
At 31 August 2023
1,394
At 31 August 2022
1,662
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
5,916
Other debtors
1,214
5,000
1,214
10,916
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,877
-
0
Trade creditors
4,301
4,623
Other taxation and social security
-
0
5,761
Accruals and other creditors
28,780
69,389
38,958
79,773
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
112,300
137,300
Colibri Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 August 2023
9
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
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