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REGISTERED NUMBER: 03378669 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 May 2024

for

Coles Property Services Ltd.

Coles Property Services Ltd. (Registered number: 03378669)

Contents of the Financial Statements
For The Year Ended 31 May 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Coles Property Services Ltd.

Company Information
For The Year Ended 31 May 2024







DIRECTORS: Mr C Beanland
Mr PG Beanland



REGISTERED OFFICE: 10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET



REGISTERED NUMBER: 03378669 (England and Wales)



ACCOUNTANTS: Giess Wallis Crisp LLP
Chartered Accountants
10/12 Mulberry Green
Old Harlow
Essex
CM17 0ET



BANKERS: National Westminster Bank
12 The Rows
Harlow
Essex
CM20 1BZ

Coles Property Services Ltd. (Registered number: 03378669)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 715,000 200,714

CURRENT ASSETS
Debtors 5 5,906 4,838
Cash at bank 11,641 13,843
17,547 18,681
CREDITORS
Amounts falling due within one year 6 13,330 16,533
NET CURRENT ASSETS 4,217 2,148
TOTAL ASSETS LESS CURRENT
LIABILITIES

719,217

202,862

PROVISIONS FOR LIABILITIES 7 97,714 -
NET ASSETS 621,503 202,862

CAPITAL AND RESERVES
Called up share capital 8 80,003 80,003
Revaluation reserve 9 416,572 -
Retained earnings 124,928 122,859
SHAREHOLDERS' FUNDS 621,503 202,862

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 December 2024 and were signed on its behalf by:





Mr PG Beanland - Director


Coles Property Services Ltd. (Registered number: 03378669)

Notes to the Financial Statements
For The Year Ended 31 May 2024


1. STATUTORY INFORMATION

Coles Property Services 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not depreciated

The properties are held for investment purposes and as such are maintained in good order so that no depreciation is required .

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

Coles Property Services Ltd. (Registered number: 03378669)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST OR VALUATION
At 1 June 2023 200,714
Revaluations 514,286
At 31 May 2024 715,000
NET BOOK VALUE
At 31 May 2024 715,000
At 31 May 2023 200,714

Cost or valuation at 31 May 2024 is represented by:

Freehold
property
£   
Valuation in 2024 514,286
Cost 200,714
715,000

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 200,714 -

Freehold property was valued on an open market basis on 31 May 2024 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 5,906 4,838

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 6,671 10,541
Other creditors 6,659 5,992
13,330 16,533

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 97,714 -

Coles Property Services Ltd. (Registered number: 03378669)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024


7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Property revaluation 97,714
Balance at 31 May 2024 97,714

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80,003 Ordinary £1 80,003 80,003

9. RESERVES
Revaluation
reserve
£   
Property revaluation 514,286
Deferred tax on revaluation (97,714 )

At 31 May 2024 416,572