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REGISTERED NUMBER: 05554853 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Combellack Holdings Limited

Combellack Holdings Limited (Registered number: 05554853)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Combellack Holdings Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M Combellack
P Combellack





SECRETARY: M Combellack





REGISTERED OFFICE: 4 Yorke Street
Hucknall
Nottingham
Nottinghamshire
NG15 7BT





REGISTERED NUMBER: 05554853 (England and Wales)





ACCOUNTANTS: Smith Cookson
Chartered Accountants
4 Yorke Street
Hucknall
Nottinghamshire
NG15 7BT

Combellack Holdings Limited (Registered number: 05554853)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 187,704 44,250
Investments 5 1 1
Investment property 6 915,000 260,000
1,102,705 304,251

CURRENT ASSETS
Stocks 702,849 794,017
Debtors 7 1,311,755 1,025,930
Cash at bank 29,384 301,473
2,043,988 2,121,420
CREDITORS
Amounts falling due within one year 8 2,304,626 2,096,899
NET CURRENT (LIABILITIES)/ASSETS (260,638 ) 24,521
TOTAL ASSETS LESS CURRENT
LIABILITIES

842,067

328,772

CREDITORS
Amounts falling due after more than one
year

9

(608,249

)

(189,551

)

PROVISIONS FOR LIABILITIES 12 (44,250 ) (26,730 )
NET ASSETS 189,568 112,491

CAPITAL AND RESERVES
Called up share capital 13 2 2
Non-Distributable Reserves 14 188,644 78,111
Retained earnings 14 922 34,378
SHAREHOLDERS' FUNDS 189,568 112,491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Combellack Holdings Limited (Registered number: 05554853)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2024 and were signed on its behalf by:





M Combellack - Director


Combellack Holdings Limited (Registered number: 05554853)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Combellack Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Combellack Holdings Limited (Registered number: 05554853)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 - 59,000 59,000
Additions 3,200 202,823 206,023
At 31 March 2024 3,200 261,823 265,023
DEPRECIATION
At 1 April 2023 - 14,750 14,750
Charge for year 800 61,769 62,569
At 31 March 2024 800 76,519 77,319
NET BOOK VALUE
At 31 March 2024 2,400 185,304 187,704
At 31 March 2023 - 44,250 44,250

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 59,000
Additions 202,823
At 31 March 2024 261,823
DEPRECIATION
At 1 April 2023 14,750
Charge for year 61,769
At 31 March 2024 76,519
NET BOOK VALUE
At 31 March 2024 185,304
At 31 March 2023 44,250

Combellack Holdings Limited (Registered number: 05554853)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Combellack Properties Limited
Registered office: 05554902
Nature of business: Property Letting Company
%
Class of shares: holding
Ordinary 100.00
31.3.24 31.3.23
£    £   
Aggregate capital and reserves 787,297 818,171
Profit for the year 89,126 15,369

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 260,000
Additions 518,539
Revaluations 136,461
At 31 March 2024 915,000
NET BOOK VALUE
At 31 March 2024 915,000
At 31 March 2023 260,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2019 158,832
Valuation in 2020 20,000
Valuation in 2021 25,000
Valuation in 2022 (25,000 )
Valuation in 2023 (82,399 )
Valuation in 2024 136,461
Cost 682,106
915,000

Combellack Holdings Limited (Registered number: 05554853)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. INVESTMENT PROPERTY - continued

If the investment properties had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 682,106 163,567

Investment property was valued on an open market basis on 31 March 2024 by the directors. .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed by group undertakings 905,399 708,334
Other debtors 391,003 304,594
VAT 6,845 13,002
Prepayments 8,508 -
1,311,755 1,025,930

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 10) 160,500 177,309
Hire purchase contracts 30,269 7,123
Trade creditors 43,050 -
Amounts owed to associates - 42,000
Other creditors 2,053,415 1,804,573
Directors' current accounts 13,994 61,994
Accrued expenses 3,398 3,900
2,304,626 2,096,899

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 10) 454,159 150,229
Hire purchase contracts 154,090 39,322
608,249 189,551

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 438,659 130,979

Repayable by instalments
Bank loans to be repaid after
5 years by instalments 3,500 7,250
3,500 7,250

Combellack Holdings Limited (Registered number: 05554853)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 160,500 177,309

Amounts falling due between one and two years:
Bank loans - 1-2 years 3,000 3,000

Amounts falling due between two and five years:
Bank loans to be repaid
between 2 & 5 years by
instalments 9,000 9,000
9,000 9,000

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 438,659 130,979

Repayable by instalments
Bank loans to be repaid after
5 years by instalments 3,500 7,250
3,500 7,250

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 614,659 327,538
Hire purchase contracts 184,359 46,445
799,018 373,983

Loans are secured against each investment property to which each loan relates.

12. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 44,250 26,730

Combellack Holdings Limited (Registered number: 05554853)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 26,730
Charge to Income Statement during year 17,520
Balance at 31 March 2024 44,250

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2

14. RESERVES
Retained Non-Distributable
earnings Reserves Totals
£    £    £   

At 1 April 2023 34,378 78,111 112,489
Profit for the year 77,077 77,077
Revalue investment properties (110,533 ) 110,533 -
At 31 March 2024 922 188,644 189,566

Combellack Holdings Limited (Registered number: 05554853)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

15. RELATED PARTY DISCLOSURES

1. During the year the company paid management charges of £Nil (2023: £Nil) to Harry J Combellack & Sons, a business in which the directors are the only partners.

2. During the year the company received management charges of £Nil (2023: £Nil) from M & P Combellack, a business in which the directors are the only partners.

3. During the year the company paid management charges of £Nil (2022: £50,000) to Combellack Limited, a company in which the directors are also directors of.

4. Included within other debtors and creditors are various amounts owed to/from related parties as detailed below:


Description Amount Owed Amount Owed
By Company To Company
£    £   

M & P Combellack 1,878,054
Harry J Combellack & Sons 390,462
Combellack Limited 86,442
W & V Combellack 88,919


M & P Combellack is a rental property business which is owned equally by the directors.
Harry J Combellack & Sons is a business in which the directors are both partners.
Combellack Limited is a company of which the directors, are also the directors of said company.
W & V Combellack are the directors wives.