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Registered number: 07544285
Coombes Business Services Limited
Financial Statements
For The Year Ended 30 April 2024
5th Floor
30-31 Furnival Street
London
EC4A 1JQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07544285
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 (375 ) 5,047
Investments 5 12,000 12,000
11,625 17,047
CURRENT ASSETS
Debtors 6 8,640 18,404
Cash at bank and in hand 32,330 71,735
40,970 90,139
Creditors: Amounts Falling Due Within One Year 7 (19,997 ) (32,343 )
NET CURRENT ASSETS (LIABILITIES) 20,973 57,796
TOTAL ASSETS LESS CURRENT LIABILITIES 32,598 74,843
Creditors: Amounts Falling Due After More Than One Year 8 (5,107 ) (9,821 )
NET ASSETS 27,491 65,022
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 27,391 64,922
SHAREHOLDERS' FUNDS 27,491 65,022
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Coombes
Director
25 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Coombes Business Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07544285 . The registered office is 5th Floor, 30-31 Furnival Street, London, EC4A 1JQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes..
Turnover from the rendering of services is recognised when services are provided rather than as invoiced.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% straight line basis
Fixtures & Fittings 25% straight line basis
2.4. 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 statement of comprehensive income 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 timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was 1 (2023: 1)
1 1
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 May 2023 21,689 8,204 29,893
As at 30 April 2024 21,689 8,204 29,893
Depreciation
As at 1 May 2023 16,267 8,579 24,846
Provided during the period 5,422 - 5,422
As at 30 April 2024 21,689 8,579 30,268
Net Book Value
As at 30 April 2024 - (375 ) (375 )
As at 1 May 2023 5,422 (375 ) 5,047
5. Investments
Unlisted
£
Cost
As at 1 May 2023 12,000
As at 30 April 2024 12,000
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 12,000
As at 1 May 2023 12,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,640 18,404
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 4,714 4,714
Corporation tax 36 8,543
VAT 1,034 4,465
Accruals and deferred income 14,055 14,525
Director's loan account 158 96
19,997 32,343
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 5,107 9,821
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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