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Registered number: 04718989
COLONEL FAWCETT LTD.
Unaudited Financial Statements
For The Year Ended 31 March 2024
PLS Management
Pls Management
44 Richmond Road
Kingston Upon Thames
KT2 5EE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04718989
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 126,911 128,369
126,911 128,369
CURRENT ASSETS
Stocks 5 14,150 14,150
Debtors 6 133,163 120,114
Investments 7 11,458 11,458
Cash at bank and in hand 38,983 41,633
197,754 187,355
Creditors: Amounts Falling Due Within One Year 8 (304,054 ) (257,376 )
NET CURRENT ASSETS (LIABILITIES) (106,300 ) (70,021 )
TOTAL ASSETS LESS CURRENT LIABILITIES 20,611 58,348
Creditors: Amounts Falling Due After More Than One Year 9 (37,466 ) (40,278 )
NET (LIABILITIES)/ASSETS (16,855 ) 18,070
CAPITAL AND RESERVES
Called up share capital 10 300 300
Revaluation reserve 13 55,000 45,000
Profit and Loss Account (72,155 ) (27,230 )
SHAREHOLDERS' FUNDS (16,855) 18,070
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For the year ending 31 March 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 ANGUS STEVENSON
Director
27/03/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
COLONEL FAWCETT LTD. Registered number 04718989 is a limited by shares company incorporated in England & Wales. The Registered Office is 1 RANDOLPH STREET, LONDON, NW1 0SS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 3.33% straight line
Fixtures & Fittings 10% straight line
Computer Equipment 33% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 9)
14 9
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 April 2023 116,522 141,382 3,781 261,685
Additions - 3,409 - 3,409
Revaluation (9,309 ) 10,000 - 691
As at 31 March 2024 107,213 154,791 3,781 265,785
Depreciation
As at 1 April 2023 49,726 82,968 622 133,316
Provided during the period 3,573 870 1,115 5,558
As at 31 March 2024 53,299 83,838 1,737 138,874
Net Book Value
As at 31 March 2024 53,914 70,953 2,044 126,911
As at 1 April 2023 66,796 58,414 3,159 128,369
5. Stocks
2024 2023
£ £
Finished goods 14,150 14,150
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 16,831 67,282
Directors' loan accounts - 22,735
Amounts owed by group undertakings 116,332 30,097
133,163 120,114
7. Current Asset Investments
2024 2023
£ £
Short term deposits 11,458 11,458
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 89,394 75,096
Bank loans and overdrafts 64,447 112,254
Corporation tax 1,511 2,833
Other taxes and social security 3,448 1,010
VAT 21,643 28,153
Net wages 1,888 -
Other creditors 18,229 2,845
Accruals and deferred income 7,809 -
Amounts owed to group undertakings 95,685 35,185
304,054 257,376
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 37,466 40,278
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 300 300
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
12. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid - 45,000
13. Reserves
Revaluation Reserve
£
As at 1 April 2023 45,000
Surplus on revaluation 10,000
As at 31 March 2024 55,000
14. Ultimate Controlling Party
The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.
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