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Registration number: 12577332

Colebourn & Gray Ltd

Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Colebourn & Gray Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Colebourn & Gray Ltd

(Registration number: 12577332)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,501

7,264

Current assets

 

Debtors

5

15,870

13,012

Cash at bank and in hand

 

3,149

3,533

 

19,019

16,545

Creditors: Amounts falling due within one year

6

(28,918)

(35,766)

Net current liabilities

 

(9,899)

(19,221)

Total assets less current liabilities

 

(3,398)

(11,957)

Creditors: Amounts falling due after more than one year

6

(26,785)

(26,196)

Provisions for liabilities

(1,184)

1,738

Net liabilities

 

(31,367)

(36,415)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(31,369)

(36,417)

Shareholders' deficit

 

(31,367)

(36,415)

For the financial year ending 30 April 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

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

 

Colebourn & Gray Ltd

(Registration number: 12577332)
Balance Sheet as at 30 April 2024

.........................................
Mr John Stephen Colebourn
Director

.........................................
Timothy Andrew Gray
Director

 

Colebourn & Gray Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
25A Sun Street
Hitchin
Hertfordshire
SG5 1AH
England

These financial statements were authorised for issue by the Board on 24 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At the balance sheet date the company had net current liabilities of £9,899 (2023: £19,221) and retained losses of £31,369 (2023: £36,417). The directors have pledged to continue to financially support the company for the foreseeable future. On this basis, the directors feel it is appropriate to prepare these financial statements on a going concern basis.

 

Colebourn & Gray Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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 sales, returns, 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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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:

Asset class

Depreciation method and rate

Furniture, Fittings and Equipment

15% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand..

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

 

Colebourn & Gray Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for services that have been acquired in the ordinary course of business from suppliers.

Trade creditors are recognised at the transaction price.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Colebourn & Gray Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

9,922

9,922

Additions

353

353

At 30 April 2024

10,275

10,275

Depreciation

At 1 May 2023

2,658

2,658

Charge for the year

1,116

1,116

At 30 April 2024

3,774

3,774

Carrying amount

At 30 April 2024

6,501

6,501

At 30 April 2023

7,264

7,264

5

Debtors

Current

2024
£

2023
£

Trade debtors

2,790

1,290

Prepayments

499

579

Other debtors

12,581

11,143

 

15,870

13,012

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

36

-

Accruals and deferred income

1,444

1,350

Other creditors

27,438

34,416

28,918

35,766

Creditors: amounts falling due after more than one year

 

Colebourn & Gray Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2024
£

2023
£

Due after one year

Other non-current financial liabilities

26,785

26,196

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

         

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £34,272 (2023 - £47,985). This is a result of a 30 month contract for rent of the premises. There is £13,710 due within the next 12 months and remainder of £20,565 is due after 12 months ending 30th April 2024.

9

Related party transactions

At the balance sheet date the company was owed £737 (2023: £1,037 ) by Mr J Colebourn and owed £1,477 (2023: £3,244) to Mr T Gray, the directors of the company. There are no terms relating to the payment of interest or repayment of capital on this loan.

At the balance sheet date, the company owed £24,559 (2023: £31,172) to Lightbox Studio Limited, where Mr T Gray is the director. Interest is being charged on this loan at 2.25%, as per HMRC official beneficial loan arrangements rate. This loan is repayable on demand.

At the balance sheet date, the company owed £26,785 (2023: £26,196) to JC Illustrations Limited, where Mr J Colebourn is the Director. Interest is being charged on ths loan at 2.25%, as per HMRC official beneficial loan arrangements rate. This loan is repayable on demand.

10

Ultimate parent undertaking

The ultimate controlling parties are Mr J Colebourn and Mr. T Gray, by virtue of their shareholding in the parent companies.