Colington Limited NI022544 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is that of the receipt and lending of money. Digita Accounts Production Advanced 6.30.9574.0 true true true NI022544 2023-02-01 2024-01-31 NI022544 2024-01-31 NI022544 bus:OrdinaryShareClass1 2024-01-31 NI022544 core:CurrentFinancialInstruments 2024-01-31 NI022544 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 NI022544 core:AllAssociates 2024-01-31 NI022544 core:OtherRelatedParties 2024-01-31 NI022544 bus:SmallEntities 2023-02-01 2024-01-31 NI022544 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 NI022544 bus:FilletedAccounts 2023-02-01 2024-01-31 NI022544 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 NI022544 bus:RegisteredOffice 2023-02-01 2024-01-31 NI022544 bus:CompanySecretaryDirector1 2023-02-01 2024-01-31 NI022544 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 NI022544 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 NI022544 1 2023-02-01 2024-01-31 NI022544 countries:NorthernIreland 2023-02-01 2024-01-31 NI022544 2022-02-01 2023-01-31 NI022544 2023-01-31 NI022544 bus:OrdinaryShareClass1 2023-01-31 NI022544 core:CurrentFinancialInstruments 2023-01-31 NI022544 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 NI022544 core:AllAssociates 2023-01-31 NI022544 core:OtherRelatedParties 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI022544

Colington Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Colington Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Colington Limited

(Registration number: NI022544)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

74,435,441

76,321,721

Cash at bank and in hand

 

3,903,005

3,565,478

 

78,338,446

79,887,199

Creditors: Amounts falling due within one year

5

(79,627,250)

(79,441,116)

Net (liabilities)/assets

 

(1,288,804)

446,083

Capital and reserves

 

Called up share capital

6

200

200

Retained earnings

(1,289,004)

445,883

Shareholders' (deficit)/funds

 

(1,288,804)

446,083

For the financial year ending 31 January 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 August 2024 and signed on its behalf by:
 

.........................................
P Henry
Company secretary and director

 

Colington Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
1 Ballycregagh Road
Cloughmills
Ballymena
County Antrim
BT44 9LB

These financial statements were authorised for issue by the Board on 16 August 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis. The directors have assessed a period of 12 months from the date of approving the financial statements with regard to the appropriateness of the going concern assumption in preparing the financial statements. The directors believe that the company will continue as a going concern and be able to realise its assets and discharge its liabilities in the normal course of business. The directors have received confirmation that the shareholders will not call in their loans and support the company, should it be required.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Colington Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

7

74,435,441

76,321,721

   

74,435,441

76,321,721

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

79,626,200

79,439,166

Accruals and deferred income

 

1,050

1,950

 

79,627,250

79,441,116

 

Colington Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200

       

7

Related party transactions

The group is taking advantage of the exemption in FRS 102 not to disclose transactions with wholly owned members within the group.

Income and receivables from related parties

2024

Associates
£

Amounts receivable from related party

23,291,831

2023

Associates
£

Amounts receivable from related party

23,347,611

Expenditure with and payables to related parties

2024

Associates
£

Other related parties
£

Amounts payable to related party

58,817,507

12,975,706

2023

Associates
£

Other related parties
£

Amounts payable to related party

57,414,724

14,191,456

8

Parent and ultimate parent undertaking

The ultimate controlling party are the shareholders.