2023-07-012024-06-302024-06-30false09641668COLATERAL 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COLATERAL LIMITED

Registered Number
09641668
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

COLATERAL LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

ALLEN, Scott
KLEIN, Nicola Mary Philippa
SALVONI, Robert Christopher
SLADE, Bradley
SPACKMAN, Dorian Hugh

Registered Address

The Workbox
30 Ferris Town
Truro
TR1 3JJ

Registered Number

09641668 (England and Wales)
COLATERAL LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets35,4837,347
5,4837,347
Current assets
Debtors4148,712159,670
Cash at bank and on hand35,234292,077
183,946451,747
Creditors amounts falling due within one year5(599,030)(525,031)
Net current assets (liabilities)(415,084)(73,284)
Total assets less current liabilities(409,601)(65,937)
Creditors amounts falling due after one year6(1,799,058)(1,600,606)
Net assets(2,208,659)(1,666,543)
Capital and reserves
Called up share capital141141
Share premium1,760,0821,760,082
Profit and loss account(3,968,882)(3,426,766)
Shareholders' funds(2,208,659)(1,666,543)
The financial statements were approved and authorised for issue by the Board of Directors on 28 August 2024, and are signed on its behalf by:
SPACKMAN, Dorian Hugh
Director
Registered Company No. 09641668
COLATERAL LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment5
2.Average number of employees

20242023
Average number of employees during the year1313
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 2323,136
Additions1,308
At 30 June 2424,444
Depreciation and impairment
At 01 July 2315,789
Charge for year3,172
At 30 June 2418,961
Net book value
At 30 June 245,483
At 30 June 237,347
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables108,08015,600
Other debtors40,229143,989
Prepayments and accrued income40381
Total148,712159,670
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables161,246121,269
Bank borrowings and overdrafts-70,202
Amounts owed to related parties3,5533,553
Taxation and social security233,592103,346
Other creditors25,9218,522
Accrued liabilities and deferred income174,718218,139
Total599,030525,031
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts359,058100,606
Other creditors1,440,0001,500,000
Total1,799,0581,600,606