17 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 06782563 2023-02-01 2024-01-31 06782563 2024-01-31 06782563 2023-01-31 06782563 2022-02-01 2023-01-31 06782563 2023-01-31 06782563 2022-01-31 06782563 core:MotorVehicles 2023-02-01 2024-01-31 06782563 bus:Director1 2023-02-01 2024-01-31 06782563 core:MotorVehicles 2023-01-31 06782563 core:MotorVehicles 2024-01-31 06782563 core:WithinOneYear 2024-01-31 06782563 core:WithinOneYear 2023-01-31 06782563 core:AfterOneYear 2024-01-31 06782563 core:AfterOneYear 2023-01-31 06782563 core:ShareCapital 2024-01-31 06782563 core:ShareCapital 2023-01-31 06782563 core:RetainedEarningsAccumulatedLosses 2024-01-31 06782563 core:RetainedEarningsAccumulatedLosses 2023-01-31 06782563 core:MotorVehicles 2023-01-31 06782563 bus:Director1 2023-01-31 06782563 bus:Director1 2024-01-31 06782563 bus:Director1 2022-01-31 06782563 bus:Director1 2023-01-31 06782563 bus:Director1 2022-02-01 2023-01-31 06782563 bus:SmallEntities 2023-02-01 2024-01-31 06782563 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 06782563 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 06782563 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06782563 bus:FullAccounts 2023-02-01 2024-01-31
COMPANY REGISTRATION NUMBER: 06782563
Coldshield Limited
Filleted Unaudited Financial Statements
For the year ended
31 January 2024
Coldshield Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
4,778
6,371
Current assets
Stocks
65,600
72,000
Debtors
6
263,655
170,998
Cash at bank and in hand
6,669
28,157
---------
---------
335,924
271,155
Creditors: amounts falling due within one year
7
279,838
211,582
---------
---------
Net current assets
56,086
59,573
--------
--------
Total assets less current liabilities
60,864
65,944
Creditors: amounts falling due after more than one year
8
21,607
31,284
--------
--------
Net assets
39,257
34,660
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
39,157
34,560
--------
--------
Shareholder funds
39,257
34,660
--------
--------
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 31 January 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 member has 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 .
Coldshield Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 29 October 2024 , and are signed on behalf of the board by:
A Elbin
Director
Company registration number: 06782563
Coldshield Limited
Notes to the Financial Statements
Year ended 31 January 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 Concorde House, Grenville Place, London, NW7 3SA.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting 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.
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:
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2023: 17 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 February 2023 and 31 January 2024
36,205
4,775
40,980
--------
-------
--------
Depreciation
At 1 February 2023
30,423
4,186
34,609
Charge for the year
1,446
147
1,593
--------
-------
--------
At 31 January 2024
31,869
4,333
36,202
--------
-------
--------
Carrying amount
At 31 January 2024
4,336
442
4,778
--------
-------
--------
At 31 January 2023
5,782
589
6,371
--------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
245,884
82,166
Other debtors
17,771
88,832
---------
---------
263,655
170,998
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
86,074
63,672
Trade creditors
53,615
1,679
Corporation tax
1,361
4,141
Social security and other taxes
34,654
41,498
Other creditors
104,134
100,592
---------
---------
279,838
211,582
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
21,607
31,284
--------
--------
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
Advances/ (credits) to the director
Balance outstanding
£
£
£
A Elbin
( 100,591)
8,178
( 92,413)
---------
-------
--------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
A Elbin
( 43,799)
( 56,792)
( 100,591)
--------
--------
---------