1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 585,000 300,000 40,000 325,000 325,000 585,000 174,745 174,745 xbrli:pure xbrli:shares iso4217:GBP 14358804 2023-11-01 2024-10-31 14358804 2024-10-31 14358804 2023-10-31 14358804 2022-09-15 2023-10-31 14358804 2023-10-31 14358804 2022-09-14 14358804 bus:Director1 2023-11-01 2024-10-31 14358804 core:WithinOneYear 2024-10-31 14358804 core:WithinOneYear 2023-10-31 14358804 core:LandBuildings core:LongLeaseholdAssets 2023-11-01 2024-10-31 14358804 core:ShareCapital 2024-10-31 14358804 core:ShareCapital 2023-10-31 14358804 core:RevaluationReserve 2024-10-31 14358804 core:RetainedEarningsAccumulatedLosses 2024-10-31 14358804 core:RetainedEarningsAccumulatedLosses 2023-10-31 14358804 core:CostValuation core:Non-currentFinancialInstruments 2024-10-31 14358804 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2024-10-31 14358804 core:LandBuildings core:LongLeaseholdAssets 2024-10-31 14358804 core:LandBuildings core:LongLeaseholdAssets 2023-10-31 14358804 core:LandBuildings core:LongLeaseholdAssets 2023-10-31 14358804 bus:SmallEntities 2023-11-01 2024-10-31 14358804 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 14358804 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 14358804 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 14358804 bus:FullAccounts 2023-11-01 2024-10-31
COMPANY REGISTRATION NUMBER: 14358804
Comer Group Holdings Limited
Unaudited financial statements
31 October 2024
Comer Group Holdings Limited
Statement of financial position
31 October 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
325,000
585,000
Current assets
Debtors
7
25,313
907
Cash at bank and in hand
168,985
12,376
---------
-------
194,298
13,283
Creditors: Amounts falling due within one year
8
( 6,748)
( 88,036)
---------
-------
Net current assets/(liabilities)
187,550
( 74,753)
---------
---------
Total assets less current liabilities
512,550
510,247
Provisions
Taxation including deferred tax
( 9,172)
( 202)
---------
---------
Net assets
503,378
510,045
---------
---------
Capital and reserves
Called up share capital
220
220
Revaluation reserve
29,709
Profit and loss account
473,449
509,825
---------
---------
Shareholders funds
503,378
510,045
---------
---------
These financial statements 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 comprehensive income has not been delivered.
For the year ending 31 October 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 financial statements 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 financial statements .
Comer Group Holdings Limited
Statement of financial position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 20 December 2024 , and are signed on behalf of the board by:
I R Comer
Director
Company registration number: 14358804
Comer Group Holdings Limited
Notes to the financial statements
Year ended 31 October 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 First Floor Suite, 2 Hillside Business Park, Bury St Edmunds, IP32 7EA. The company's trading address is White Lodge, Hall Lane, Roydon, Diss, Norfolk, IP22 5XL.
2. Statement of compliance
These financial statements 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of employees during the year was 1 (2023: 1 ).
5. Tangible assets
Investment properties
£
Cost or valuation
At 1 November 2023
585,000
Disposals
( 300,000)
Revaluations
40,000
---------
At 31 October 2024
325,000
---------
Depreciation
At 1 November 2023 and 31 October 2024
---------
Carrying amount
At 31 October 2024
325,000
---------
At 31 October 2023
585,000
---------
Included within the above is investment property as follows:
£
At 1 November 2023
585,000
Fair value adjustments
40,000
Disposals
( 300,000)
---------
At 31 October 2024
325,000
---------
The directors have valued the investment properties based on the open market value at 31 October 2024. The original costs amount to £285,000.
6. Investments
Shares in group undertakings
£
Cost
At 1 November 2023 and 31 October 2024
174,745
---------
Impairment
At 1 November 2023 and 31 October 2024
174,745
---------
Carrying amount
At 31 October 2024
---------
At 31 October 2023
---------
7. Debtors
2024
2023
£
£
Other debtors
25,313
907
-------
----
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Social security and other taxes
882
Other creditors
6,748
87,154
------
-------
6,748
88,036
------
-------
9. Director's advances, credits and guarantees
Included in other debtors is an amount due from the director to the company of £25,064 (£76,069 due from the company to the director). The maximum amount overdrawn during the year was £35,931 and interest of £233 was paid.