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REGISTERED NUMBER: 03045824 (England and Wales)















Unaudited Financial Statements

For The Period 1 May 2023 to 29 April 2024

for

Coronado Controls Limited

Coronado Controls Limited (Registered number: 03045824)






Contents of the Financial Statements
For The Period 1 May 2023 to 29 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Coronado Controls Limited

Company Information
For The Period 1 May 2023 to 29 April 2024







DIRECTOR: Mr G Darcy





SECRETARY: Ms M T Darcy





REGISTERED OFFICE: Falcon Mill
Fifth Floor, Unit H5, Falcon Mill
Handel Street
Bolton
BL1 8BL





REGISTERED NUMBER: 03045824 (England and Wales)





ACCOUNTANTS: Fact3
3 Hardman Square
Spinningfields
Manchester
M3 3EB

Coronado Controls Limited (Registered number: 03045824)

Balance Sheet
29 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 180

CURRENT ASSETS
Stocks 150,000 156,980
Debtors 5 224,502 219,799
Cash at bank 2,305 5,322
376,807 382,101
CREDITORS
Amounts falling due within one year 6 157,502 166,488
NET CURRENT ASSETS 219,305 215,613
TOTAL ASSETS LESS CURRENT
LIABILITIES

219,305

215,793

CAPITAL AND RESERVES
Called up share capital 51,410 51,410
Retained earnings 167,895 164,383
219,305 215,793

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 April 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 7 April 2025 and were signed by:





Mr G Darcy - Director


Coronado Controls Limited (Registered number: 03045824)

Notes to the Financial Statements
For The Period 1 May 2023 to 29 April 2024

1. STATUTORY INFORMATION

Coronado Controls Limited 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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment6.66 years straight line


Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.


Coronado Controls Limited (Registered number: 03045824)

Notes to the Financial Statements - continued
For The Period 1 May 2023 to 29 April 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Coronado Controls Limited (Registered number: 03045824)

Notes to the Financial Statements - continued
For The Period 1 May 2023 to 29 April 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally
enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Coronado Controls Limited (Registered number: 03045824)

Notes to the Financial Statements - continued
For The Period 1 May 2023 to 29 April 2024

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 29 April 2024 4,680
DEPRECIATION
At 1 May 2023 4,500
Charge for period 180
At 29 April 2024 4,680
NET BOOK VALUE
At 29 April 2024 -
At 30 April 2023 180

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 40,441 35,738
Amounts owed by group undertakings 183,078 183,078
Other debtors 983 983
224,502 219,799

Coronado Controls Limited (Registered number: 03045824)

Notes to the Financial Statements - continued
For The Period 1 May 2023 to 29 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 18,587 17,783
Trade creditors 6,000 8,520
Taxation and social security 7,889 1,901
Other creditors 125,026 138,284
157,502 166,488

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Coronado Holdings Limited.

The company is under the control of Coronado Holdings Limited. Coronado Holdings Limited has an interest free loan from the company. The amounts outstanding at the year end was £183,078 (2023 - £183,078).