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Company registration number: 02522265

Colt (London) Limited

Filleted Annual Report and Financial Statements

for the Year Ended 31 December 2024

 

Colt (London) Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

Colt (London) Limited

(Registration number: 02522265)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

2,114,013

1,264,489

Cash at bank and in hand

 

691,197

2,222,449

 

2,805,210

3,486,938

Creditors: Amounts falling due within one year

5

(789,886)

(1,352,003)

Net assets

 

2,015,324

2,134,935

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

2,014,324

2,133,935

Total equity

 

2,015,324

2,134,935

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.

Approved and authorised by the Board on 17 July 2025 and signed on its behalf by:
 


L H Hannaford
Director

   
 

Colt (London) Limited

Notes to the Financial Statements
for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
7 Beech Road Business Park
Cadleigh
Ivybridge
Devon
PL21 9HN
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling (£).

Going concern

The Director has assessed the ongoing requirements of the company, considering expected future trading, cash and other funding available to the company, including the potential support of the wider group, and is confident that it is appropriate to prepare the accounts on a going concern basis.

Turnover recognition

Turnover represents amounts receivable in respect of the sale of goods and services to customers, net of VAT and trade discounts.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value based on costs incurred compared to total expected contract costs.

 

Colt (London) Limited

Notes to the Financial Statements
for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on timing differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Colt (London) Limited

Notes to the Financial Statements
for the Year Ended 31 December 2024

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade and other creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Amounts owed to and from group undertakings

Amounts owed to and from group undertakings are initially measured at the transaction price. Receivable balances are reviewed periodically for impairment.

They are subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 1 (2023 - 1).

4

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

36,125

39

Amounts owed by group undertakings and undertakings in which the company has a participating interest

6

-

665,329

Prepayments

 

49,861

163,928

Other debtors

 

2,028,027

435,193

   

2,114,013

1,264,489

 

Colt (London) Limited

Notes to the Financial Statements
for the Year Ended 31 December 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

394

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

6

219,876

818,336

Corporation tax

 

-

4,308

Other creditors and deferred income

 

569,616

529,359

 

789,886

1,352,003

6

Related party transactions

Summary of transactions with entities with joint control or significant interest

The company has taken the exemption in Section 33 of FRS102 not to disclose transactions entered into between its fellow group members.
 

7

Parent and ultimate parent undertaking

The company's immediate parent is Empire S.r.l., incorporated in Italy.

 The ultimate parent is E.O.S. S.p.A., incorporated in Italy.

 

8

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 25 July 2025 was Christopher Walford ACA, who signed for and on behalf of Albert Goodman LLP.