Company registration number 00642834 (England and Wales)
A. Coletta & Sons Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 January 2024
PAGES FOR FILING WITH REGISTRAR
A. Coletta & Sons Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
A. Coletta & Sons Limited
Statement of financial position
as at 31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,294
1,617
Current assets
Stocks
2,000
2,000
Debtors
5
3,920
4,968
Cash at bank and in hand
27,991
43,564
33,911
50,532
Creditors: amounts falling due within one year
6
(32,439)
(39,374)
Net current assets
1,472
11,158
Net assets
2,766
12,775
Capital and reserves
Called up share capital
7
6,600
6,600
Profit and loss reserves
(3,834)
6,175
Total equity
2,766
12,775
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 19 March 2024
M A Coletta
Director
Company registration number 00642834 (England and Wales)
A. Coletta & Sons Limited
Notes to the financial statements
for the year ended 31 January 2024
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
- 20% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
11
11
A. Coletta & Sons Limited
Notes to the financial statements (continued)
for the year ended 31 January 2024
- 3 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2023 and 31 January 2024
203,000
Amortisation and impairment
At 1 February 2023 and 31 January 2024
203,000
Carrying amount
At 31 January 2024
At 31 January 2023
4
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 February 2023 and 31 January 2024
48,557
Depreciation and impairment
At 1 February 2023
46,940
Depreciation charged in the year
323
At 31 January 2024
47,263
Carrying amount
At 31 January 2024
1,294
At 31 January 2023
1,617
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
2,859
Other debtors
1,799
Prepayments and accrued income
2,121
2,109
3,920
4,968
A. Coletta & Sons Limited
Notes to the financial statements (continued)
for the year ended 31 January 2024
- 4 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
8,124
17,771
Taxation and social security
3,015
3,064
Other creditors
9,301
Accruals and deferred income
21,300
9,238
32,439
39,374
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
6,600
6,600
6,600
6,600
8
Company information
A. Coletta & Sons Limited is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.