Company registration number 10814606 (England and Wales)
COLBEK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
COLBEK LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
COLBEK LIMITED (REGISTERED NUMBER: 10814606)
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
340,000
340,001
Current assets
Debtors
5
18,216
Cash at bank and in hand
7,601
11,052
25,817
11,052
Creditors: amounts falling due within one year
6
(9,022)
(159,469)
Net current assets/(liabilities)
16,795
(148,417)
Total assets less current liabilities
356,795
191,584
Creditors: amounts falling due after more than one year
7
(247,770)
(67,506)
Provisions for liabilities
(27,569)
(27,569)
Net assets
81,456
96,509
Capital and reserves
Called up share capital
100
100
Non-distributable profits reserve
8
117,936
117,936
Distributable profit and loss reserves
(36,580)
(21,527)
Total equity
81,456
96,509
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
COLBEK LIMITED (REGISTERED NUMBER: 10814606)
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 17 March 2025
Mr L S Graabek
Director
COLBEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
Colbek Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Upper Grosvenor Road, Tunbridge Wells, Kent, TN1 2EP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents rents receivable and is recognised in the period to which the rent relates to.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is 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 are 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.
COLBEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
2
Judgements and key sources of estimation uncertainty
(Continued)
- 4 -
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Investment property valuation
Investment property is valued at fair value on the basis of directors' estimates and judgements. Valuations are made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors do not consider it necessary to obtain a valuation by an independent valuer.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
4
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
340,000
In the opinion of the director, the total value of the investment properties held at the year end was £340,000. The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the director as described in note 2.
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
194,496
194,496
Accumulated depreciation
-
-
Carrying amount
194,496
194,496
COLBEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
18,216
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,016
Other creditors
9,022
157,453
9,022
159,469
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
247,770
67,506
Within other creditors due after more than one year is a mortgage liability which is secured by a fixed charge against the property to which the loan relates.
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable other than by instalments
247,770
67,506
8
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
117,936
65,517
Non distributable profits in the year
-
52,419
At the end of the year
117,936
117,936