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Registered Number: 13762697
England and Wales

 

 

 

NEW COLES & WALL LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 66,134    60,000 
66,134    60,000 
Current assets      
Stocks 4 12,500    11,550 
Debtors 5 246,929    52,671 
Cash at bank and in hand 56,570    110,882 
315,999    175,103 
Creditors: amount falling due within one year 6 (352,089)   (177,865)
Net current assets (36,090)   (2,762)
 
Total assets less current liabilities 30,044    57,238 
Net assets 30,044    57,238 
 

Capital and reserves
     
Called up share capital 20,000    20,000 
Profit and loss account 10,044    37,238 
Shareholders' funds 30,044    57,238 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 28 August 2024 and were signed by:


-------------------------------
Abdul Mukith KHAN
Director
1
General Information
NEW COLES & WALL LTD is a private company, limited by shares, registered in England and Wales, registration number 13762697, registration address Stand 7 New Spitalfields Market, 1 Sherrin Road, Leyton, LONDON, ENGLAND, E10 5SL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognized in the statement of income, except to the extent that it relates to items recognized in other comprehensive income or directly in capital and reserves. The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Reducing Balance
Fixtures and Fittings 18% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 4).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Fixtures and Fittings   Total
  £   £   £
At 01 December 2022 60,000      60,000 
Additions   7,480    7,480 
Disposals    
At 30 November 2023 60,000    7,480    67,480 
Depreciation
At 01 December 2022    
Charge for year   1,346    1,346 
On disposals    
At 30 November 2023   1,346    1,346 
Net book values
Closing balance as at 30 November 2023 60,000    6,134    66,134 
Opening balance as at 01 December 2022 60,000      60,000 


4.

Stocks

2023
£
  2022
£
Stocks 12,500    11,550 
12,500    11,550 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 205,838   
VAT Refundable 5,586    1,723 
PAYE & Social Security 4,557   
Directors' Current Accounts   20,000 
215,981    21,723 

5.

Debtors: amounts falling due after one year

2023
£
  2022
£
Other Debtors 30,948    30,948 
30,948    30,948 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 289,005    168,872 
Taxation and Social Security 14,084    8,993 
Other Creditors 49,000   
352,089    177,865 

2