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Registered number: 09541671









COMLECO LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

 
COMLECO LTD
 
 
COMPANY INFORMATION


Directors
S R Comley 
L Comley 




Registered number
09541671



Registered office
Bartle House
9 Oxford Court

Manchester

M2 3WQ




Business Address
637 London Road
Davenham

Northwich

Cheshire

CW98LH






Accountants
WR Partners
Chartered Accountants

Drake House

Gadbrook Park

Northwich

Cheshire

CW9 7RA





 
COMLECO LTD
 

CONTENTS



Page
Accountants' Report
1
Balance Sheet
2 - 3
Notes to the Financial Statements
4 - 9


 
COMLECO LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COMLECO LTD
FOR THE YEAR ENDED 31 MARCH 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Comleco Ltd for the year ended 31 March 2025 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Comleco Ltd, as a body, in accordance with the terms of our engagement letter dated 10 August 2023Our work has been undertaken solely to prepare for your approval the financial statements of Comleco Ltd and state those matters that we have agreed to state to the Board of Directors of Comleco Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Comleco Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Comleco Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Comleco Ltd. You consider that Comleco Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Comleco Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



WR Partners
 
Chartered Accountants
  
Drake House
Gadbrook Park
Northwich
Cheshire
CW9 7RA
22 July 2025
Page 1

 
COMLECO LTD
REGISTERED NUMBER: 09541671

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,040
1,658

Investment property
 5 
590,000
590,000

  
591,040
591,658

Current assets
  

Cash at bank and in hand
 6 
4,788
60,246

  
4,788
60,246

Creditors: amounts falling due within one year
 7 
(52,060)
(84,808)

Net current liabilities
  
 
 
(47,272)
 
 
(24,562)

Total assets less current liabilities
  
543,768
567,096

Provisions for liabilities
  

Deferred tax
  
(31,349)
(31,503)

  
 
 
(31,349)
 
 
(31,503)

Net assets
  
512,419
535,593


Capital and reserves
  

Called up share capital 
  
20
20

Other reserves
  
93,267
93,267

Profit and loss account
  
419,132
442,306

  
512,419
535,593


Page 2

 
COMLECO LTD
REGISTERED NUMBER: 09541671
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S R Comley
Director

Date: 22 July 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
COMLECO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Comleco Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Bartle House, 9 Oxford Court, Manchester, M2 3WQ.
The principal activity of the company continued to be that of management consultancy and residents property management.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 £. 

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
COMLECO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases:.


Fixtures and fittings
-
20%
straight line
Computer equipment
-
33%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
COMLECO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.12

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.  
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

  
2.13

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

  
2.14

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to the profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Page 6

 
COMLECO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2024
6,947
1,976
8,923


Additions
-
325
325



At 31 March 2025

6,947
2,301
9,248



Depreciation


At 1 April 2024
5,787
1,479
7,266


Charge for the year
670
272
942



At 31 March 2025

6,457
1,751
8,208



Net book value



At 31 March 2025
490
550
1,040



At 31 March 2024
1,160
498
1,658

Page 7

 
COMLECO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2024
590,000



At 31 March 2025
590,000

Investment property comprises of residential buildings. The fair value of the investment property has been arrived at on the basis of the Director's estimates at the 31 March 2025. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. 










6.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
4,788
60,246

4,788
60,246



7.


Creditors: Amounts falling due within one year

2025
2024
£
£

Corporation tax
6,714
18,831

Other taxation and social security
2,936
6,930

Other creditors
41,110
57,727

Accruals and deferred income
1,300
1,320

52,060
84,808


Page 8

 
COMLECO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

8.


Charges

Lloyds Bank PLC have a floating charge containing a negative pledge over the investment company.
Lloyds Bank PLC have a fixed and floating charge containing a negative pledge. The floating charge covers all the property or undertakings of the company.
These charges were satisfied on 10 June 2024.

 
Page 9