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REGISTERED NUMBER: 01767816 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Columba Leasing Limited

Columba Leasing Limited (Registered number: 01767816)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Columba Leasing Limited

Company Information
for the year ended 30 June 2024







DIRECTORS: Mr R Paybody
Mrs J E M Paybody
Mrs E J Stockdale
Mrs C C De Guitaut





SECRETARY: Mrs J E M Paybody





REGISTERED OFFICE: West End Farm
West End
Silverstone
Towcester
Northamptonshire
NN12 8UY





REGISTERED NUMBER: 01767816 (England and Wales)





ACCOUNTANTS: Clifford Roberts
Chartered Accountants
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

Columba Leasing Limited (Registered number: 01767816)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,000 15,055
Investment property 5 1,257,960 1,273,357
1,260,960 1,288,412

CURRENT ASSETS
Debtors 6 32,601 19,438
Cash at bank and in hand 372,472 242,993
405,073 262,431
CREDITORS
Amounts falling due within one year 7 208,268 180,482
NET CURRENT ASSETS 196,805 81,949
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,457,765

1,370,361

CREDITORS
Amounts falling due after more than one
year

8

283,590

283,590
NET ASSETS 1,174,175 1,086,771

CAPITAL AND RESERVES
Called up share capital 10 100,000 100,000
Capital redemption reserve 45,000 45,000
Fair value reserve 11 379,559 379,559
Retained earnings 649,616 562,212
SHAREHOLDERS' FUNDS 1,174,175 1,086,771

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Columba Leasing Limited (Registered number: 01767816)

Balance Sheet - continued
30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2025 and were signed on its behalf by:





Mr R Paybody - Director


Columba Leasing Limited (Registered number: 01767816)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Columba Leasing 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 applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102 Section 1A") and with the Companies Act 2006. The financial statements have been prepared under the historical cost basis.

The financial statements are presented in Sterling (£) and cover the period to the 30th June each year.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the income statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 33% cost

Columba Leasing Limited (Registered number: 01767816)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Leasing commitments
Rentals under operating leases are charged on a straight line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight line basis over the lease term.

Operating lease income
Rental income from operating leases is recognised on a straight line basis over the terms of he relevant lease. Initial direct costs incurred in negotiating and arranging the operating lease are added to the carry value of the leased asset and recognised on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2023
and 30 June 2024 117,239
DEPRECIATION
At 1 July 2023 102,184
Charge for year 12,055
At 30 June 2024 114,239
NET BOOK VALUE
At 30 June 2024 3,000
At 30 June 2023 15,055

Columba Leasing Limited (Registered number: 01767816)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 1,273,357
Disposals (15,397 )
At 30 June 2024 1,257,960
NET BOOK VALUE
At 30 June 2024 1,257,960
At 30 June 2023 1,273,357

In the directors view, the investment property is carried at fair value. The directors continually monitor fluctuations in market value, particularly in light of on-going economic uncertainty caused by various factors in the wider economic climate.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 32,601 19,438

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,288 204
Taxation and social security 44,805 29,285
Other creditors 162,175 150,993
208,268 180,482

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 283,590 283,590

Columba Leasing Limited (Registered number: 01767816)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

9. FINANCIAL RISK MANAGEMENT

The company has some exposure to credit, liquidity and cash flow interest rate risks, These risks are limited by the company's financial management policies and practices described below.

Credit risk
The company's exposure and it's customers credit worthiness is continually monitored so that any potential problems are detected at an early stage, references and credit checks are undertaken on potential tenants to assess their likelihood that they will default.

Liquidity risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities.

Market risk
There is a market risk associated with the fluctuation in demand rental space offered by the entity, which at the moment is not an issue, with no shortage of businesses interested in renting the units.

Interest rate risk
The company has some borrowings, but these are low in comparison to the asset base of the entity and, where relevant, the security given. The interest rate risk is mitigated by fixed interest rates, and so the entity is not sensitive to movements in the Bank of England base rate.

The company holds no derivative financial instruments at the year end.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100,000 Ordinary £1 100,000 100,000

11. RESERVES
Fair
value
reserve
£   
At 1 July 2023
and 30 June 2024 379,559

12. RELATED PARTY DISCLOSURES

Persons with significant control over the entity
2024 2023
£ £

Amounts due to related parties 143,013 123,520

Other related parties
2024 2023
£ £

Amounts due to related parties 196,104 196,104

The loans are a mix of interest bearing and non-interest bearing. There are no fixed repayment terms for any of the loans, but the directors loan account balances are deemed to be repayable on demand and the other loan balances are deemed to be repayable greater than one year.