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COMPANY REGISTRATION NUMBER: 01891965
M Colwell Holdings Limited
Filleted Unaudited Financial Statements
30 November 2023
M Colwell Holdings Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Current assets
Debtors
5
4,225
Cash at bank and in hand
864,272
928,898
---------
---------
864,272
933,123
Creditors: amounts falling due within one year
6
5,042
54,180
---------
---------
Net current assets
859,230
878,943
---------
---------
Total assets less current liabilities
859,230
878,943
---------
---------
Net assets
859,230
878,943
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
859,130
878,843
---------
---------
Shareholders funds
859,230
878,943
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 16 August 2024 , and are signed on behalf of the board by:
Mr R M Colwell
Mrs S L Rosado
Director
Director
Company registration number: 01891965
M Colwell Holdings Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Minton Place, Victoria Road, Bicester, OX26 6QB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
1% straight line
Motor Vehicles
-
20% reducing balance
Plant & Equipment
-
20% reducing balance
4. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 December 2022
1,600
2,943
4,543
Disposals
( 1,600)
( 2,943)
( 4,543)
-------
-------
-------
At 30 November 2023
-------
-------
-------
Depreciation
At 1 December 2022
1,600
2,943
4,543
Disposals
( 1,600)
( 2,943)
( 4,543)
-------
-------
-------
At 30 November 2023
-------
-------
-------
Carrying amount
At 30 November 2023
-------
-------
-------
At 30 November 2022
-------
-------
-------
5. Debtors
2023
2022
£
£
Other debtors
4,225
----
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
47,662
Other creditors
5,042
6,518
-------
--------
5,042
54,180
-------
--------