17 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08384095 2023-04-01 2024-03-31 08384095 2024-03-31 08384095 2023-03-31 08384095 2022-04-01 2023-03-31 08384095 2023-03-31 08384095 2022-03-31 08384095 core:LandBuildings core:LongLeaseholdAssets 2023-04-01 2024-03-31 08384095 core:FurnitureFittings 2023-04-01 2024-03-31 08384095 core:MotorVehicles 2023-04-01 2024-03-31 08384095 bus:Director1 2023-04-01 2024-03-31 08384095 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 08384095 core:FurnitureFittings 2023-03-31 08384095 core:MotorVehicles 2023-03-31 08384095 core:LandBuildings core:LongLeaseholdAssets 2024-03-31 08384095 core:FurnitureFittings 2024-03-31 08384095 core:MotorVehicles 2024-03-31 08384095 core:WithinOneYear 2024-03-31 08384095 core:WithinOneYear 2023-03-31 08384095 core:AfterOneYear 2024-03-31 08384095 core:AfterOneYear 2023-03-31 08384095 core:ShareCapital 2024-03-31 08384095 core:ShareCapital 2023-03-31 08384095 core:RetainedEarningsAccumulatedLosses 2024-03-31 08384095 core:RetainedEarningsAccumulatedLosses 2023-03-31 08384095 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 08384095 core:MotorVehicles 2023-03-31 08384095 bus:SmallEntities 2023-04-01 2024-03-31 08384095 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08384095 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08384095 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08384095 bus:FullAccounts 2023-04-01 2024-03-31 08384095 core:OfficeEquipment 2023-04-01 2024-03-31 08384095 core:OfficeEquipment 2023-03-31 08384095 core:OfficeEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 08384095
COLES FOR FIRES LIMITED
FILLETED UNAUDITED ACCOUNTS
31 March 2024
COLES FOR FIRES LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
40,217
50,980
CURRENT ASSETS
Stocks
195,000
230,000
Debtors
6
207,697
209,790
Cash at bank and in hand
13,232
9,916
---------
---------
415,929
449,706
CREDITORS: amounts falling due within one year
7
328,285
339,023
---------
---------
NET CURRENT ASSETS
87,644
110,683
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
127,861
161,663
CREDITORS: amounts falling due after more than one year
8
26,836
50,812
---------
---------
NET ASSETS
101,025
110,851
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
100,925
110,751
---------
---------
SHAREHOLDERS FUNDS
101,025
110,851
---------
---------
These accounts 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 March 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 accounts 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 accounts .
COLES FOR FIRES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These accounts were approved by the board of directors and authorised for issue on 17 September 2024 , and are signed on behalf of the board by:
Mr M J Coles
Director
Company registration number: 08384095
COLES FOR FIRES LIMITED
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 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 Unit 7, Orion Way, The Constellations, Kettering Business Park, Kettering, Northamptonshire, NN15 6NL.
2. STATEMENT OF COMPLIANCE
These accounts 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 and are prepared in sterling, which is the functional currency of the entity.
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
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
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:
Leasehold Property Improvements
-
25% reducing balance
Fixtures & Fittings
-
25% straight line
Motor Vehicles
-
25% reducing balance
Office 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.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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.
4. PARTICULARS OF EMPLOYEES
The average number of persons employed by the company during the year amounted to 17 (2023: 19 ).
5. TANGIBLE ASSETS
Long leasehold property
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2023
13,535
5,156
108,939
8,986
136,616
Additions
2,315
683
2,998
--------
-------
---------
-------
---------
At 31 March 2024
13,535
7,471
108,939
9,669
139,614
--------
-------
---------
-------
---------
Depreciation
At 1 April 2023
12,065
5,156
59,784
8,631
85,636
Charge for the year
368
578
12,289
526
13,761
--------
-------
---------
-------
---------
At 31 March 2024
12,433
5,734
72,073
9,157
99,397
--------
-------
---------
-------
---------
Carrying amount
At 31 March 2024
1,102
1,737
36,866
512
40,217
--------
-------
---------
-------
---------
At 31 March 2023
1,470
49,155
355
50,980
--------
-------
---------
-------
---------
6. DEBTORS
2024
2023
£
£
Trade debtors
54,881
56,977
Other debtors
152,816
152,813
---------
---------
207,697
209,790
---------
---------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
31,690
Trade creditors
129,166
181,241
Social security and other taxes
56,098
20,585
Other creditors
111,331
137,197
---------
---------
328,285
339,023
---------
---------
Included within other creditors are amounts totalling £4,448 (2023 - £4,448) relating to hire purchase and finance lease agreements which are secured by the company.
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
20,154
39,683
Other creditors
6,682
11,129
--------
--------
26,836
50,812
--------
--------
Included within other creditors are amounts totalling £6,682 (2023 - £11,129) relating to hire purchase and finance lease agreements which are secured by the company.