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REGISTERED NUMBER: 10623972 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Collie Properties Limited

Collie Properties Limited (Registered number: 10623972)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

Collie Properties Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: A R Gee
Ms. R M Knight





REGISTERED OFFICE: Unit 3b New Winnings Court
Denby Hall Business Park
Denby
Derbyshire
DE5 8LE





REGISTERED NUMBER: 10623972 (England and Wales)





ACCOUNTANTS: M Cubed Chartered Accountants
8 The Courtyard
Gaulby Lane
Stoughton
Leicestershire
LE2 2FL

Collie Properties Limited (Registered number: 10623972)

Balance Sheet
29 February 2024

29/2/24 28/2/23
Notes £    £   
FIXED ASSETS
Investment property 4 1,812,074 1,812,074

CURRENT ASSETS
Debtors 5 2,337 9,874
Cash at bank 3,275 1,497
5,612 11,371
CREDITORS
Amounts falling due within one year 6 (585,143 ) (613,284 )
NET CURRENT LIABILITIES (579,531 ) (601,913 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,232,543

1,210,161

CREDITORS
Amounts falling due after more than one year 7 (1,342,690 ) (1,318,006 )
NET LIABILITIES (110,147 ) (107,845 )

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings (110,150 ) (107,848 )
(110,147 ) (107,845 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 23 October 2024 and were signed on its behalf by:




Ms. R M Knight - Director


Collie Properties Limited (Registered number: 10623972)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Collie Properties 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 as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

GOING CONCERN
The company meets its day to day working capital requirements through the support of the Director. On this basis, the director consider it appropriate to prepare the financial statements on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Collie Properties Limited (Registered number: 10623972)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 March 2023
and 29 February 2024 1,812,074
NET BOOK VALUE
At 29 February 2024 1,812,074
At 28 February 2023 1,812,074

Cost or valuation at 29 February 2024 is represented by:
£   
Valuation in 2018 55,229
Valuation in 2019 3,829
Valuation in 2020 77,843
Valuation in 2021 (5,881 )
Valuation in 2022 150,456
Valuation in 2023 155,562
Cost 1,375,036
1,812,074

5. DEBTORS
29/2/24 28/2/23
£    £   
Amounts falling due within one year:
Trade debtors 300 880
Other debtors 2,037 2,163
2,337 3,043

Amounts falling due after more than one year:
Other debtors - 6,831

Aggregate amounts 2,337 9,874

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts - 3,157
Trade creditors 8,163 12,950
Taxation and social security (2,041 ) 2,467
Other creditors 579,021 594,710
585,143 613,284

Collie Properties Limited (Registered number: 10623972)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans 1,014,446 1,012,456
Other creditors 328,244 305,550
1,342,690 1,318,006

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,014,446 1,012,456

8. SECURED DEBTS

The following secured debts are included within creditors:

29/2/24 28/2/23
£    £   
Bank loans 1,014,446 1,012,456

The bank loans are secured by a charge over the investment properties.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

29/2/24 28/2/23
£    £   
Ms. R M Knight and A R Gee
Balance outstanding at start of year (124,634 ) (89,374 )
Amounts advanced 27,056 8,399
Amounts repaid (48,732 ) (43,659 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (146,310 ) (124,634 )

10. RELATED PARTY DISCLOSURES

Included in Other Loans is a loan from the directors family with a principal value of £209,660 (2023: £198,385) using a commercial interest rate.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Collie Properties Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Collie Properties Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Collie Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Collie Properties Limited and state those matters that we have agreed to state to the Board of Directors of Collie Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Collie Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Collie Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Collie Properties Limited. You consider that Collie Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Collie Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






M Cubed Chartered Accountants
8 The Courtyard
Gaulby Lane
Stoughton
Leicestershire
LE2 2FL


Date: .............................................