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Registration number: 08543288

Coronas 20 Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Coronas 20 Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Coronas 20 Limited

Company Information

Directors

P Gray

M Gray

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Coronas 20 Limited

Statement of Financial Position as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

333

-

Current assets

 

Debtors

5

100,580

110,283

Cash at bank and in hand

 

19,559

12,849

 

120,139

123,132

Creditors: Amounts falling due within one year

6

(4,210)

(4,838)

Net current assets

 

115,929

118,294

Net assets

 

116,262

118,294

Capital and reserves

 

Called up share capital

100

100

Retained earnings

116,162

118,194

Shareholders' funds

 

116,262

118,294

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 24 October 2024 and signed on its behalf by:
 

.........................................

M Gray

Director

Company registration number: 08543288

 

Coronas 20 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the provision of consultancy services.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company had net assets at 31 May 2024 of £116,262 including cash at bank of £19,559. The company has few fixed overheads.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Coronas 20 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Asset class

Depreciation method and rate

Furniture, fittings and equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company during the year, was 1 (2023 - 1).

 

Coronas 20 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

3,332

3,332

Additions

500

500

Disposals

(875)

(875)

At 31 May 2024

2,957

2,957

Depreciation

At 1 June 2023

3,332

3,332

Charge for the year

167

167

Eliminated on disposal

(875)

(875)

At 31 May 2024

2,624

2,624

Carrying amount

At 31 May 2024

333

333

5

Debtors

2024
£

2023
£

Other debtors

100,580

110,283

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Other creditors

4,210

4,838

7

Transactions with directors

At 31 May 2024 an amount of £Nil (2023: £900) was due from a director. During the year there was a repayment of £900. No interest was charged and there were no terms in place.