Colver Services Ltd 14494842 false 2022-11-20 2024-02-29 2024-02-29 The principal activity of the company is 84110 - General public administration activities Digita Accounts Production Advanced 6.30.9574.0 true 14494842 2022-11-20 2024-02-29 14494842 2024-02-29 14494842 core:RetainedEarningsAccumulatedLosses 2024-02-29 14494842 core:ShareCapital 2024-02-29 14494842 core:FinanceLeases core:CurrentFinancialInstruments 2024-02-29 14494842 core:FinanceLeases core:Non-currentFinancialInstruments 2024-02-29 14494842 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 14494842 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 14494842 core:MotorVehicles 2024-02-29 14494842 core:OfficeEquipment 2024-02-29 14494842 bus:SmallEntities 2022-11-20 2024-02-29 14494842 bus:AuditExemptWithAccountantsReport 2022-11-20 2024-02-29 14494842 bus:FullAccounts 2022-11-20 2024-02-29 14494842 bus:SmallCompaniesRegimeForAccounts 2022-11-20 2024-02-29 14494842 bus:RegisteredOffice 2022-11-20 2024-02-29 14494842 bus:Director1 2022-11-20 2024-02-29 14494842 bus:PrivateLimitedCompanyLtd 2022-11-20 2024-02-29 14494842 core:ComputerEquipment 2022-11-20 2024-02-29 14494842 core:MotorVehicles 2022-11-20 2024-02-29 14494842 core:OfficeEquipment 2022-11-20 2024-02-29 14494842 countries:EnglandWales 2022-11-20 2024-02-29 iso4217:GBP xbrli:pure

Registration number: 14494842

Colver Services Ltd

Annual Report and Unaudited Financial Statements- Companies house filing

for the Period from 20 November 2022 to 29 February 2024

 

Colver Services Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Colver Services Ltd

(Registration number: 14494842)
Statement of Financial Position as at 29 February 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

40,423

Current assets

 

Cash at bank and in hand

 

33,956

Creditors: Amounts falling due within one year

5

(18,575)

Net current assets

 

15,381

Total assets less current liabilities

 

55,804

Creditors: Amounts falling due after more than one year

5

(36,363)

Provisions for liabilities

(7,680)

Net assets

 

11,761

Capital and reserves

 

Called up share capital

1

Profit and loss account

11,760

Shareholders' funds

 

11,761

For the financial period ending 29 February 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 accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the director on 20 August 2024
 

.........................................
A E Colver
Director

 

Colver Services Ltd

Notes to the Unaudited Financial Statements for the Period from 20 November 2022 to 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: 24 Pondtail Road, Fleet, Hampshire, GU51 3JJ. England.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, 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 specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Colver Services Ltd

Notes to the Unaudited Financial Statements for the Period from 20 November 2022 to 29 February 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

Straight line - 3 years

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date 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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

 

Colver Services Ltd

Notes to the Unaudited Financial Statements for the Period from 20 November 2022 to 29 February 2024

Financial instruments

The Company only enters into basic financial instruments 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 and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Colver Services Ltd

Notes to the Unaudited Financial Statements for the Period from 20 November 2022 to 29 February 2024

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

Additions

1,209

52,823

54,032

At 29 February 2024

1,209

52,823

54,032

Depreciation

Charge for the period

403

13,206

13,609

At 29 February 2024

403

13,206

13,609

Carrying amount

At 29 February 2024

806

39,617

40,423

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Bank loans and overdrafts

6

6,832

Accruals and deferred income

 

1,080

Other creditors

 

10,663

 

18,575

Creditors: amounts falling due after more than one year

Note

2024
£

Loans and borrowings

6

36,363

6

Loans and borrowings

2024
£

Non-current loans and borrowings

Finance lease liabilities

36,363

2024
£

Current loans and borrowings

Finance lease liabilities

6,832