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REGISTERED NUMBER: 01347983 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2024

FOR

COLVANBRIDGE LIMITED

COLVANBRIDGE LIMITED (REGISTERED NUMBER: 01347983)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


COLVANBRIDGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: G E Coolbear
G A Wright
Mrs S Washington
R D Wilkins
G R Wiles
C Hartshorne





SECRETARY: Mrs S Washington





REGISTERED OFFICE: Abbey House
51 High Street
Saffron Walden
Essex
CB10 1AF





REGISTERED NUMBER: 01347983 (England and Wales)





AUDITORS: Bentens
Chartered Certified Accountants
Abbey House
51 High Street
Saffron Walden
Essex
CB10 1AF

COLVANBRIDGE LIMITED (REGISTERED NUMBER: 01347983)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 489,462 484,648
489,462 484,648

CURRENT ASSETS
Debtors 6 486,226 642,902
Cash at bank and in hand 1,560,868 1,819,591
2,047,094 2,462,493
CREDITORS
Amounts falling due within one year 7 440,647 886,798
NET CURRENT ASSETS 1,606,447 1,575,695
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,095,909

2,060,343

PROVISIONS FOR LIABILITIES 1,917 2,167
NET ASSETS 2,093,992 2,058,176

CAPITAL AND RESERVES
Called up share capital 2,550 2,550
Capital redemption reserve 2,450 2,450
Retained earnings 2,088,992 2,053,176
SHAREHOLDERS' FUNDS 2,093,992 2,058,176

COLVANBRIDGE LIMITED (REGISTERED NUMBER: 01347983)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2024 and were signed on its behalf by:




G E Coolbear - Director



G A Wright - Director


COLVANBRIDGE LIMITED (REGISTERED NUMBER: 01347983)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Colvanbridge Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises revenue recognised by the company in respect of services provided, net of Value Added Tax. Turnover is recognised in respect of services to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is amortised evenly over its estimated useful life of three years. Computer software has now been fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Short leasehold - 10% on cost
Equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


COLVANBRIDGE LIMITED (REGISTERED NUMBER: 01347983)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 February 2023
and 31 January 2024 23,900
AMORTISATION
At 1 February 2023
and 31 January 2024 23,900
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

COLVANBRIDGE LIMITED (REGISTERED NUMBER: 01347983)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS
Freehold Short Motor
property leasehold Equipment vehicles Totals
£    £    £    £    £   
COST
At 1 February 2023 451,215 73,402 548,905 14,200 1,087,722
Additions - - 8,809 15,990 24,799
Disposals - - (153 ) - (153 )
At 31 January 2024 451,215 73,402 557,561 30,190 1,112,368
DEPRECIATION
At 1 February 2023 4,250 73,402 517,210 8,212 603,074
Charge for year 4,250 - 10,125 5,495 19,870
Eliminated on disposal - - (38 ) - (38 )
At 31 January 2024 8,500 73,402 527,297 13,707 622,906
NET BOOK VALUE
At 31 January 2024 442,715 - 30,264 16,483 489,462
At 31 January 2023 446,965 - 31,695 5,988 484,648

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 403,435 555,629
Other debtors 10,085 2,767
Prepayments 72,706 84,506
486,226 642,902

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 352,019 599,987
Corporation tax 14,205 56,840
Social security and other taxes - 29,103
VAT 292 3,033
Other creditors 6,909 7,345
Directors' current accounts 13,275 55,445
Accrued expenses 53,947 135,045
440,647 886,798

COLVANBRIDGE LIMITED (REGISTERED NUMBER: 01347983)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mrs Sarah Elizabeth Warner FCCA (Senior Statutory Auditor)
for and on behalf of Bentens

9. SECURED DEBTS

There is a debenture over the assets of the company in favour of HSBC Bank plc dated 6 September 2004 against credit card credit of up to £20,000.

10. OTHER FINANCIAL COMMITMENTS

The company has a number of operating leases for its premises which end within the next 5 years. The total amounts payable under the remainder of the lease terms is £182,205 (2023 £345,283).

11. RELATED PARTY DISCLOSURES

The company occupies premises owned by directors Mr G E Coolbear and Mrs S Washington, under a five year lease dated 24 January 2023. A commercial rent of £21,000 (2023: £21,000) was payable during the year and at the balance sheet date no amount was outstanding.

During the year dividends totalling £10,000 were paid to Mr G E Coolbear and Mrs S Washington, directors of the company (2023 £45,000).

12. ULTIMATE CONTROLLING PARTY

There is no individual who has overall control of the company.