2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 7,181 269 7,450 4,783 1,288 6,071 1,379 2,398 xbrli:pure xbrli:shares iso4217:GBP 06813857 2023-03-01 2024-02-29 06813857 2024-02-29 06813857 2023-02-28 06813857 2022-03-01 2023-02-28 06813857 2023-02-28 06813857 2022-02-28 06813857 bus:Director1 2023-03-01 2024-02-29 06813857 core:WithinOneYear 2024-02-29 06813857 core:WithinOneYear 2023-02-28 06813857 core:AfterOneYear 2024-02-29 06813857 core:AfterOneYear 2023-02-28 06813857 core:ShareCapital 2024-02-29 06813857 core:ShareCapital 2023-02-28 06813857 core:RetainedEarningsAccumulatedLosses 2024-02-29 06813857 core:RetainedEarningsAccumulatedLosses 2023-02-28 06813857 bus:Director1 2023-02-28 06813857 bus:Director1 2024-02-29 06813857 bus:Director1 2022-02-28 06813857 bus:Director1 2023-02-28 06813857 bus:Director1 2022-03-01 2023-02-28 06813857 bus:SmallEntities 2023-03-01 2024-02-29 06813857 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 06813857 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 06813857 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06813857 bus:FullAccounts 2023-03-01 2024-02-29 06813857 core:OfficeEquipment 2023-03-01 2024-02-29 06813857 core:OfficeEquipment 2023-02-28 06813857 core:OfficeEquipment 2024-02-29
COMPANY REGISTRATION NUMBER: 06813857
Collier Banks Limited
Filleted Unaudited Financial Statements
29 February 2024
Collier Banks Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,379
2,398
Current assets
Debtors
6
20,730
36,343
Cash at bank and in hand
654
2,755
--------
--------
21,384
39,098
Creditors: amounts falling due within one year
7
57,209
36,559
--------
--------
Net current (liabilities)/assets
( 35,825)
2,539
--------
-------
Total assets less current liabilities
( 34,446)
4,937
Creditors: amounts falling due after more than one year
8
14,134
22,143
Provisions
Taxation including deferred tax
345
600
--------
--------
Net liabilities
( 48,925)
( 17,806)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 49,025)
( 17,906)
--------
--------
Shareholders deficit
( 48,925)
( 17,806)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 Act with respect to accounting records and the preparation of financial statements .
Collier Banks Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 1 October 2024 , and are signed on behalf of the board by:
Mr S J C Johnston
Director
Company registration number: 06813857
Collier Banks Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Oakley House, Tetbury Road, Cirencester, Glos, GL7 1US.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director considers that it is appropriate to prepare the financial statements on a going concern basis as they are continuing to pay debts as they fall due.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year inclusive of Value Added Tax. This is as a result of the client being registered for VAT under the Flat Rate Scheme.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 March 2023
7,181
7,181
Additions
269
269
-------
-------
At 29 February 2024
7,450
7,450
-------
-------
Depreciation
At 1 March 2023
4,783
4,783
Charge for the year
1,288
1,288
-------
-------
At 29 February 2024
6,071
6,071
-------
-------
Carrying amount
At 29 February 2024
1,379
1,379
-------
-------
At 28 February 2023
2,398
2,398
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
19,200
35,760
Other debtors
1,530
583
--------
--------
20,730
36,343
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
16,241
14,932
Trade creditors
2,364
2,434
Social security and other taxes
3,982
8,179
Other creditors
34,622
11,014
--------
--------
57,209
36,559
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
14,134
22,143
--------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr S J C Johnston
( 8,744)
( 23,513)
( 32,257)
-------
--------
--------
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr S J C Johnston
( 8,135)
( 609)
( 8,744)
-------
----
-------