Coolmere Limited Filleted Accounts Cover
Coolmere Limited
Company No. 02197072
Information for Filing with The Registrar
30 April 2024
Coolmere Limited Directors Report Registrar
The Director presents his report and the accounts for the year ended 30 April 2024.
Principal activities
The principal activity of the company during the year under review was property development.
Director
The Director who served at any time during the year was as follows:
J.W. Goddard
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
J.W. Goddard
Director
11 November 2024
Coolmere Limited Balance Sheet Registrar
at
30 April 2024
Company No.
02197072
Notes
2024
2023
£
£
Current assets
Stocks
4
1,515,713920,787
Debtors
5
395,346396,383
Cash at bank and in hand
17,785107,301
1,928,8441,424,471
Creditors: Amount falling due within one year
6
(1,425,908)
(920,860)
Net current assets
502,936503,611
Total assets less current liabilities
502,936503,611
Creditors: Amounts falling due after more than one year
7
(3,900)
(3,900)
Net assets
499,036499,711
Capital and reserves
Called up share capital
5858
Capital redemption reserve
8
4242
Profit and loss account
8
498,936499,611
Total equity
499,036499,711
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 11 November 2024 and signed on its behalf by:
J.W. Goddard
Director
11 November 2024
Coolmere Limited Notes to the Accounts Registrar
for the year ended 30 April 2024
1
General information
Coolmere Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 02197072
Its registered office is:
30-32 Great Colman Street
Ipswich
Suffolk
IP4 2AP
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover comprises revenue recognised by the company in respect of property sales during the year. Income is recognised when the sale is complete.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Stocks
Stocks which comprises land and property on hand for development is valued at the lower of costs and net realisable value.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Stocks
2024
2023
£
£
Property for sale
1,515,713920,787
1,515,713920,787
5
Debtors
2024
2023
£
£
Amounts owed by connected parties
369,650389,650
Loans to directors
-2,265
Other debtors
25,6964,288
Prepayments and accrued income
-180
395,346396,383
6
Creditors:
amounts falling due within one year
2024
2023
£
£
Trade creditors
2,8362,400
Amounts owed to connected parties
718,000
507,000
Loans from directors
35-
Other creditors
702,375408,900
Accruals and deferred income
2,6622,560
1,425,908920,860
7
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Other creditors
3,9003,900
3,9003,900
8
Reserves
Capital redemption reserve
Total other reserves
£
£
At 1 May 2022
42
42
At 30 April 2023 and 1 May 2023
42
42
At 30 April 2024
4242
Capital redemption reserve - records the nominal value of shares repurchased by the company.
Profit and loss account - includes all current and prior period retained profits and losses.
9
Advances and credits to directors
2024
£
At 1 May 2023
2,265
Amounts repaid in the period
2,265
At 30 April 2024
-
10
Related Party Transactions
Included within debtors falling due within one year is £369,650 (2023 - £389,650) due from connected companies. Also included in debtors is £nil (2023 - £2,265) payable by a director & member. Interest is accrued at the official rate of interest.
Creditors due within one year includes £718,000 (2023 - £507,000) due to companies which are connected with the director and shareholder. Also included in creditors due within one year is £35 (2023 - £nil) payable to a director & member.
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