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REGISTERED NUMBER: 13395213 (England and Wales)







Financial Statements for the Year Ended 31st May 2024

for

Colvin Properties Ltd

Colvin Properties Ltd (Registered number: 13395213)






Contents of the Financial Statements
for the Year Ended 31st May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Colvin Properties Ltd

Company Information
for the Year Ended 31st May 2024







DIRECTORS: W J C Smith
Mrs K L C Smith





REGISTERED OFFICE: 21 Broadway Road
Broadway Road
Bishopston
Bristol
BS7 8ES





REGISTERED NUMBER: 13395213 (England and Wales)





ACCOUNTANTS: The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU

Colvin Properties Ltd (Registered number: 13395213)

Abridged Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 385,000 375,000

CURRENT ASSETS
Cash at bank 274 10,596

CREDITORS
Amounts falling due within one year 96,507 108,413
NET CURRENT LIABILITIES (96,233 ) (97,817 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

288,767

277,183

CREDITORS
Amounts falling due after more than one
year

5

(227,904

)

(227,904

)

PROVISIONS FOR LIABILITIES (13,645 ) (11,145 )
NET ASSETS 47,218 38,134

CAPITAL AND RESERVES
Called up share capital 2 2
Non-distributable reserve 7 40,936 33,436
Retained earnings 6,280 4,696
47,218 38,134

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

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 26th February 2025 and were signed on its behalf by:




W J C Smith - Director


Colvin Properties Ltd (Registered number: 13395213)

Notes to the Financial Statements
for the Year Ended 31st May 2024

1. STATUTORY INFORMATION

Colvin Properties 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.

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

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

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st June 2023 375,000
Revaluations 10,000
At 31st May 2024 385,000
NET BOOK VALUE
At 31st May 2024 385,000
At 31st May 2023 375,000


Colvin Properties Ltd (Registered number: 13395213)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 227,904 227,904

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 227,904 227,904

Bank loans are secured by way of charges over all assets and undertakings of the company.

7. RESERVES
Non-distributable
reserve
£   
At 1st June 2023 33,436
Non distributable reserve 7,500

At 31st May 2024 40,936

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors is the directors' loan account which is held at interest free.