Colmac Assets Limited Company accounts

COMPANY REGISTRATION NUMBER: 09130366

Colmac Assets Limited

Unaudited Financial Statements

30 November 2024

Colmac Assets Limited

Financial Statements

Year ended 30 November 2024

Contents	Page

Officers and professional advisers	1

Directors' report	2

Statement of income and retained earnings	3

Statement of financial position	4

Notes to the financial statements	6

Colmac Assets Limited

Officers and Professional Advisers

The board of directors	J A Halpern
	A Halpern

Registered office	5 Parkhill
	Bury Old Road
	Prestwich
	M25 0FX

Accountants	Haffner Hoff Ltd
	Accountants
	2nd Floor - Parkgates
	Bury New Road
	Prestwich
	Manchester
	M25 0TL

Colmac Assets Limited

Directors' Report

Year ended 30 November 2024

The directors present their report and the unaudited financial statements of the company for the year ended 30 November 2024 .

Directors

The directors who served the company during the year were as follows:

J A Halpern
A Halpern

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 19 September 2025 and signed on behalf of the board by:

J A Halpern

Director

Registered office:

5 Parkhill

Bury Old Road

Prestwich

M25 0FX

Colmac Assets Limited

Statement of Income and Retained Earnings

Year ended 30 November 2024

	2024	2023
Note	£	£

Administrative expenses	7,234	11,102
	-------	--------
Operating loss	( 7,234)	( 11,102)

Income from other fixed asset investments		6,147	7,247
		-------	--------
Loss before taxation	4	( 1,087)	( 3,855)

Tax on loss	–	–
	-------	-------
Loss for the financial year and total comprehensive income	( 1,087)	( 3,855)
	-------	-------

Retained earnings at the start of the year	10,557	14,412
	--------	--------
Retained earnings at the end of the year	9,470	10,557
	--------	--------

All the activities of the company are from continuing operations.

Colmac Assets Limited

Statement of Financial Position

30 November 2024

	2024		2023
Note	£	£	£

Fixed assets

Investments	5		8,200	58,800

Current assets

Debtors	6	5,218	( 2,101)
Cash at bank and in hand		10,538	1,633
		--------	-------
		15,756	( 468)

Creditors: amounts falling due within one year	7	14,485		12,900
		--------		--------
Net current assets/(liabilities)			1,271	( 13,368)
			-------	--------
Total assets less current liabilities			9,471	45,432

Creditors: amounts falling due after more than one year	8	–	34,874
		-------	--------
Net assets		9,471	10,558
		-------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	9,470	10,557
	-------	--------
Shareholders funds	9,471	10,558
	-------	--------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Colmac Assets Limited

Statement of Financial Position (continued)

30 November 2024

These financial statements were approved by the board of directors and authorised for issue on 19 September 2025 , and are signed on behalf of the board by:

J A Halpern

Director

Company registration number: 09130366

Colmac Assets Limited

Notes to the Financial Statements

Year ended 30 November 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Parkhill, Bury Old Road, Prestwich, M25 0FX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Investment income

Investment income represents amounts due from a 1% holding in a property syndicate.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Profit before taxation

Profit before taxation is stated after charging:

	2024	2023
	£	£
Fair value adjustments to other fixed asset investments	–	1,590
	----	-------

5. Investments

	Other investments other than loans
	£
Cost
At 1 December 2023	58,800
Disposals	( 50,600)
	--------
At 30 November 2024	8,200
	--------
Impairment
At 1 December 2023 and 30 November 2024	–
	--------

Carrying amount
At 30 November 2024	8,200
	--------
At 30 November 2023	58,800
	--------

Investments represents 1% in various property investments.

6. Debtors

	2024	2023
	£	£
Other debtors	5,218	( 2,101)
	-------	-------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	195	–
Social security and other taxes	–	201
Other creditors	14,290	12,699
	--------	--------
	14,485	12,900
	--------	--------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	–	34,874
	----	--------

9. Related party transactions

There were no related party transactions during the year.