Company Registration No. 06338330 (England and Wales)
Colvill Banks Limited
Unaudited accounts
for the year ended 31 March 2024
Colvill Banks Limited
Unaudited accounts
Contents
Colvill Banks Limited
Company Information
for the year ended 31 March 2024
Directors
Mr Mark Swain
Mr Prems Srampical
Mrs Swyta Bahuguna
Secretary
Power Secretaries Ltd
Company Number
06338330 (England and Wales)
Registered Office
Hollythorns House The Hollythorns
Swanmore
Southampton
Hampshire
SO32 2NW
ENGLAND
Accountants
Power Accountax Limited
Mailbox 3, Solent Business Centre
343 Millbrook Road West
Southampton
SO15 0HW
Colvill Banks Limited
Statement of financial position
as at 31 March 2024
Intangible assets
190,814
4,889
Tangible assets
31,179
13,897
Debtors
1,721,899
1,138,830
Cash at bank and in hand
597,234
502,433
Creditors: amounts falling due within one year
(573,758)
(436,922)
Net current assets
1,745,375
1,204,341
Total assets less current liabilities
1,967,368
1,223,127
Provisions for liabilities
Deferred tax
(8,364)
(3,247)
Net assets
1,959,004
1,219,880
Called up share capital
5,100
5,100
Capital redemption reserve
500,598
-
Profit and loss account
1,448,406
1,209,880
Shareholders' funds
1,959,004
1,219,880
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. 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 Act with respect to accounting records and the preparation of accounts.
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 the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by
Mr Mark Swain
Director
Company Registration No. 06338330
Colvill Banks Limited
Notes to the Accounts
for the year ended 31 March 2024
Colvill Banks Limited is a private company, limited by shares, registered in England and Wales, registration number 06338330. The registered office is Hollythorns House The Hollythorns, Swanmore, Southampton, Hampshire, SO32 2NW, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in ã sterling.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% on Written Down Value
Computer equipment
25% on Written Down Value
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Amortisation rate is 5% on written down value.
Colvill Banks Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Intangible fixed assets
Goodwill
Other
Total
At 1 April 2023
-
135,287
135,287
Additions
196,997
-
196,997
At 31 March 2024
196,997
135,287
332,284
At 1 April 2023
-
130,398
130,398
Charge for the year
9,850
1,222
11,072
At 31 March 2024
9,850
131,620
141,470
At 31 March 2024
187,147
3,667
190,814
At 31 March 2023
-
4,889
4,889
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
-
10,346
42,102
52,448
Additions
580
18,152
3,082
21,814
At 31 March 2024
580
28,498
45,184
74,262
At 1 April 2023
-
7,835
30,716
38,551
Charge for the year
-
1,415
3,117
4,532
At 31 March 2024
-
9,250
33,833
43,083
At 31 March 2024
580
19,248
11,351
31,179
At 31 March 2023
-
2,511
11,386
13,897
Amounts falling due within one year
Trade debtors
1,503,515
1,056,781
Amounts due from group undertakings etc.
67,843
66,628
Accrued income and prepayments
150,541
-
Colvill Banks Limited
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
24,167
33,867
Trade creditors
3,859
3,673
Amounts owed to group undertakings and other participating interests
168,275
178,798
Taxes and social security
169,849
185,945
8
Average number of employees
During the year the average number of employees was 11 (2023: 11).