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REGISTERED NUMBER: 03843745 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Colewood Internet Ltd

Colewood Internet Ltd (Registered number: 03843745)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Colewood Internet Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: T M Coleman
H E Stewart





REGISTERED OFFICE: Colewood House
1 Kingfisher Court
Kingfisher Way
STOCKTON-ON-TEES
Cleveland
TS18 3EX





REGISTERED NUMBER: 03843745 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Colewood Internet Ltd (Registered number: 03843745)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,000 -
Tangible assets 5 55,031 61,044
75,031 61,044

CURRENT ASSETS
Debtors 6 376,612 350,870
Cash at bank 68,580 36,552
445,192 387,422
CREDITORS
Amounts falling due within one year 7 476,441 397,440
NET CURRENT LIABILITIES (31,249 ) (10,018 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,782

51,026

CREDITORS
Amounts falling due after more than one
year

8

12,500

22,500
NET ASSETS 31,282 28,526

CAPITAL AND RESERVES
Called up share capital 9 500 500
Retained earnings 30,782 28,026
SHAREHOLDERS' FUNDS 31,282 28,526

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

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

Colewood Internet Ltd (Registered number: 03843745)

Balance Sheet - continued
30 April 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 14 January 2025 and were signed on its behalf by:





T M Coleman - Director


Colewood Internet Ltd (Registered number: 03843745)

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

1. STATUTORY INFORMATION

Colewood Internet Ltd 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 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.

There were no material departures from this standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

The financial statements are prepared on the going concern basis which assumes that the company will continue to trade. However, the validity of the going concern basis is dependent upon the continued support of the directors. If the company is unable to continue to trade, adjustments would be required to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and to analyse both fixed assets and long term liabilities as current assets and liabilities.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with companies under common control.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition
Income is recognised when the conditions contained within a contract for services have been met.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible assets are being amortised evenly over their estimated useful life of sales.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Financial instruments
Basic financial instruments are recognised at amortised cost with charges recognised in profit or loss.


Colewood Internet Ltd (Registered number: 03843745)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
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.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
Additions 20,000
At 30 April 2024 20,000
NET BOOK VALUE
At 30 April 2024 20,000

Colewood Internet Ltd (Registered number: 03843745)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 1,733 56,391 106,273 164,397
Additions - - 6,630 6,630
At 30 April 2024 1,733 56,391 112,903 171,027
DEPRECIATION
At 1 May 2023 1,727 30,184 71,442 103,353
Charge for year 1 5,241 7,401 12,643
At 30 April 2024 1,728 35,425 78,843 115,996
NET BOOK VALUE
At 30 April 2024 5 20,966 34,060 55,031
At 30 April 2023 6 26,207 34,831 61,044

6. DEBTORS LESS THAN ONE YEAR
2024 2023
£    £   
Trade debtors 41,900 99,314
Amounts due from related
undertakings 232,916 246,126
Other debtors 36,908 1,100
Prepayments and accrued income 64,888 4,330
376,612 350,870

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,333 8,333
Amounts due to related
undertakings 415,210 317,505
Trade creditors 3,715 11,819
Taxation and social security 41,044 39,494
Other creditors 5,139 15,854
Accruals and deferred income 3,000 4,435
476,441 397,440

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 8,333 8,333
Bank loans - 2-5 years 4,167 14,167
12,500 22,500

Colewood Internet Ltd (Registered number: 03843745)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 A Ordinary £0.10 100 100
100 B Ordinary £1 100 100
100 C Ordinary £1 100 100
100 D Ordinary £1 100 100
100 E Ordinary £1 100 100
500 500