CORONADE INVESTMENTS LIMITED
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Company registration number 01826642
Date
Approval date of the accounts by the board 21/08/2024
Person signing directors' report:
Name of director Dane McIntosh
Or, name of secretary
Name of director signing balance sheet Dane McIntosh
Address of registered office:
Address line 1 126 Aldersgate Street
City or town London
Postcode EC1A 4JQ
Number Number
Average number of persons employed by the company - -
Registered number
01826642
CORONADE INVESTMENTS LIMITED
Filleted Accounts
29 December 2023
CORONADE INVESTMENTS LIMITED
Registered number: 01826642
Balance Sheet
as at 29 December 2023
Notes 2023 2022
Fixed assets
Tangible assets 2 2,313,291 2,167,046
Investments 3 506,124 -
2,819,415 2,167,046
Current assets
Debtors 4 52,042 42,962
Cash at bank and in hand 106,172 188,357
158,214 231,319
Creditors: amounts falling due within one year 6 (2,157,115) (126,328)
Net current (liabilities)/assets (1,998,901) 104,991
Total assets less current liabilities 820,514 2,272,037
Creditors: amounts falling due after more than one year 7 (162,975) (1,662,975)
Net assets 657,539 609,062
Capital and reserves
Called up share capital 14,826 14,826
Profit and loss account 642,713 594,236
Shareholder's funds 657,539 609,062
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dane McIntosh
Director
Approved by the board on 21 August 2024
CORONADE INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 29 December 2023
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Land and buildings in accordance with the property
Plant and machinery at varying rates on cost
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
The company trades through a branch registered in Belgium and all transactions relate to the branch. The banch is liable to taxation in Belgium.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Tangible fixed assets
Land and buildings
Cost
At 30 December 2022 3,088,163
Additions 267,619
At 29 December 2023 3,355,782
Depreciation
At 30 December 2022 921,117
Charge for the year 121,374
At 29 December 2023 1,042,491
Net book value
At 29 December 2023 2,313,291
At 29 December 2022 2,167,046
3 Investments
Other
investments
Cost
Additions 744,255
Revaluation 17,054
Disposals (255,185)
At 29 December 2023 506,124
4 Debtors 2023 2022
Called up share capital not paid 14,826 14,826
Trade debtors 28,411 22,621
Prepayments 8,805 5,515
52,042 42,962
5 Investments held as current assets 2023 2022
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments 17,054 -
6 Creditors: amounts falling due within one year 2023 2022
Trade creditors 75,245 61,886
Loan Indosuez 2,035,000
Taxation and accruals 35,784 48,444
Deposits 11,086 15,998
2,157,115 126,328
7 Creditors: amounts falling due after one year 2023 2022
Other creditors 162,975 1,662,975
8 Other information
CORONADE INVESTMENTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
126 Aldersgate Street
London
EC1A 4JQ
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