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Registered number: 01472791
Coltkell Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Deans
Gibson House Hurricane Court
Hurricane Close
Stafford
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01472791
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,750 2,802
Investment Properties 5 2,400,000 2,400,000
2,414,750 2,402,802
CURRENT ASSETS
Debtors 6 32,645 30,115
Cash at bank and in hand 58,274 101,320
90,919 131,435
Creditors: Amounts Falling Due Within One Year 7 (43,460 ) (27,503 )
NET CURRENT ASSETS (LIABILITIES) 47,459 103,932
TOTAL ASSETS LESS CURRENT LIABILITIES 2,462,209 2,506,734
Creditors: Amounts Falling Due After More Than One Year 8 (19,784 ) (30,942 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (94,389 ) (92,026 )
NET ASSETS 2,348,036 2,383,766
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 1,401,581 1,401,581
Profit and Loss Account 946,355 982,085
SHAREHOLDERS' FUNDS 2,348,036 2,383,766
Page 1
Page 2
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 A Wright
Director
24 January 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Coltkell Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of 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.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts.  The policies adopted for the recognition of turnover are as follows:
Rental income
Rental income from operating leases net of any incentives given to the lessees is recognised on a straight-line basis over the lease term.
Interest and dividends receivable
Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.
Sale of properties
Represents the amounts receivable from the sale of properties. Properties are treated as sold and profits are recognised at the point control of the property is passed to the customer which, has been determined as the point of legal completion.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.  Cost includes costs directly attributeable to making the asset capable of operating as intended.  Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Plant & Machinery - 25% on reducing balnce
Motor Vehicles - 25% on reducing balance
Fixtures & Fittings - 15% on reducing balance
Computer Equipment - Straight line over 3 years
2.4. Investment Properties
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
The investment properties were valued as at 30 Aprll 2023 at a fair value of £2,400,000. The valuations were undertaken by the directors.
Deferred tax is provided on these gains at the rate expected to apply when the property is sold.
Page 3
Page 4
2.5. 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.
2.6. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2.7. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 2,360 5,100 13,911 695 22,066
Additions 4,161 - 10,668 574 15,403
As at 30 April 2024 6,521 5,100 24,579 1,269 37,469
Depreciation
As at 1 May 2023 1,945 3,486 13,138 695 19,264
Provided during the period 1,144 404 1,716 191 3,455
As at 30 April 2024 3,089 3,890 14,854 886 22,719
Net Book Value
As at 30 April 2024 3,432 1,210 9,725 383 14,750
As at 1 May 2023 415 1,614 773 - 2,802
Page 4
Page 5
5. Investment Property
2024
£
Fair Value
As at 1 May 2023 and 30 April 2024 2,400,000
Additions -
As at 30 April 2024 2,400,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 906,394 906,394
The investment properties were valued on an open market value basis on 30 April 2023 by the directors of the company.
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 21,372 18,025
Prepayments and accrued income 10,004 10,821
Other debtors 1,269 1,269
32,645 30,115
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,012 904
Bank loans and overdrafts 10,018 9,742
Corporation tax 23,896 9,521
Other taxes and social security 747 744
Other creditors 1,667 2,440
Accruals and deferred income 5,120 4,152
43,460 27,503
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 19,784 30,942
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5
Page 6
10. Reserves
Revaluation Reserve
£
As at 1 May 2023 1,401,581
As at 30 April 2024 1,401,581
Page 6