Registered number
10778569
Colwell Bay Developments Limited
Filleted Accounts
30 September 2024
Colwell Bay Developments Limited
Registered number: 10778569
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 78,740 124,782
Investments 4 10 10
78,750 124,792
Current assets
Stocks 682,640 521,639
Debtors 5 107,515 95,440
Cash at bank and in hand 27,507 197,266
817,662 814,345
Creditors: amounts falling due within one year 6 (268,280) (563,671)
Net current assets 549,382 250,674
Total assets less current liabilities 628,132 375,466
Creditors: amounts falling due after more than one year 7 (220,010) (22,371)
Provisions for liabilities (17,116) (29,317)
Net assets 391,006 323,778
Capital and reserves
Called up share capital 2 2
Profit and loss account 391,004 323,776
Shareholders' funds 391,006 323,778
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Stuart Jefcoate
Director
Approved by the board on 24 June 2025
Colwell Bay Developments Limited
Notes to the Accounts
for the period from 1 April 2023 to 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles over 5 years
Plant and machinery over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 1,517 153,960 155,477
At 30 September 2024 1,517 153,960 155,477
Depreciation
At 1 April 2023 303 30,392 30,695
Charge for the period 454 45,588 46,042
At 30 September 2024 757 75,980 76,737
Net book value
At 30 September 2024 760 77,980 78,740
At 31 March 2023 1,214 123,568 124,782
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2023 10
At 30 September 2024 10
5 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 70,712 61,238
Other debtors 36,803 34,202
107,515 95,440
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 10,000
Trade creditors 7,420 18,654
Amounts owed to group undertakings and undertakings in which the company has a participating interest 54,481 -
Taxation and social security costs 31,606 44,999
Other creditors 174,773 490,018
268,280 563,671
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 22,371
Other creditors 220,010 -
220,010 22,371
8 Related party transactions
Included within other creditors is the amount of £740 owed to the directors. This amount is undated, unsecured, interest free and repayable upon demand.
9 Other information
Colwell Bay Developments Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 The Briars
Waterberry Drive
Waterlooville
Hampshire
PO8 0NS
Colwell Bay Developments Limited 10778569 false 2023-04-01 2024-09-30 2024-09-30 VT Final Accounts July 2024 Mr Stuart Jefcoate No description of principal activity 10778569 2022-04-01 2023-03-31 10778569 core:WithinOneYear 2023-03-31 10778569 core:AfterOneYear 2023-03-31 10778569 core:ShareCapital 2023-03-31 10778569 core:RetainedEarningsAccumulatedLosses 2023-03-31 10778569 2023-04-01 2024-09-30 10778569 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-09-30 10778569 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-09-30 10778569 bus:Director40 2023-04-01 2024-09-30 10778569 1 2023-04-01 2024-09-30 10778569 2 2023-04-01 2024-09-30 10778569 core:PlantMachinery 2023-04-01 2024-09-30 10778569 core:Vehicles 2023-04-01 2024-09-30 10778569 countries:England 2023-04-01 2024-09-30 10778569 bus:FRS102 2023-04-01 2024-09-30 10778569 bus:FilletedAccounts 2023-04-01 2024-09-30 10778569 2024-09-30 10778569 core:WithinOneYear 2024-09-30 10778569 core:AfterOneYear 2024-09-30 10778569 core:ShareCapital 2024-09-30 10778569 core:RetainedEarningsAccumulatedLosses 2024-09-30 10778569 core:PlantMachinery 2024-09-30 10778569 core:Vehicles 2024-09-30 10778569 2023-03-31 10778569 core:PlantMachinery 2023-03-31 10778569 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure