| Coleford Projects Ltd |
| Registered number: |
13985128 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Investment property |
3 |
|
|
350,000 |
|
|
- |
|
|
|
|
350,000 |
|
|
- |
|
| Current assets |
| Debtors |
4 |
|
1,210 |
|
|
35,077 |
| Cash at bank and in hand |
|
|
- |
|
|
173 |
|
|
|
1,210 |
|
|
35,250 |
|
| Creditors: amounts falling due within one year |
5 |
|
(118,660) |
|
|
(40,738) |
|
| Net current liabilities |
|
|
|
(117,450) |
|
|
(5,488) |
|
| Total assets less current liabilities |
|
|
|
232,550 |
|
|
(5,488) |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(237,600) |
|
|
- |
|
|
|
| Net liabilities |
|
|
|
(5,050) |
|
|
(5,488) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Fair value reserve |
8 |
|
|
8,102 |
|
|
- |
| Profit and loss account |
|
|
|
(13,252) |
|
|
(5,588) |
|
| Shareholder's funds |
|
|
|
(5,050) |
|
|
(5,488) |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his 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. |
|
|
|
|
| Peter Ford |
| Director |
| Approved by the board on 10 December 2025 |
|
| Coleford Projects Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 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 |
|
Rental income from investment property is recognised on a straight-line basis over the period of the lease. Income is recognised only when the company is entitled to it, the amount can be measured reliably, and collection is reasonably assured. Amounts received in advance are recognised as deferred income, and amounts receivable in arrears are included within debtors. |
|
|
Investment property |
|
Investment property is carried at fair value, based on the director’s assessment of market conditions at the reporting date. Changes in fair value are recognised in profit or loss. The valuation involves some estimation uncertainty, as it is based on management’s judgement of available market evidence. Investment property is not depreciated. |
|
|
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. |
|
|
Going concern |
|
The company is showing net liabilities of £5,050 at 31 March 2025. The company is dependent upon rental income from its investment property and the continued financial support of the director and related parties, to whom amounts of £118,142 are owed at the year end. These loans are interest free and repayable on demand; however, the director has confirmed that he will not seek repayment of these balances in a manner that would prejudice the company’s ability to meet its liabilities as they fall due.
The director has prepared cash flow forecasts which demonstrate that the company will have adequate financial resources for the foreseeable future and that property rental profits are expected to be generated shortly. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis.
Accordingly, the financial statements have been prepared on a going concern basis. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Investment property |
|
|
|
|
2025 |
|
2024 |
|
|
|
|
|
|
£ |
|
£ |
|
|
Brought forward |
|
|
|
|
- |
|
- |
|
Additions |
|
|
|
|
339,998 |
|
- |
|
Fair value adjustment |
|
|
|
|
10,002 |
|
- |
|
|
|
|
|
|
350,000 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Deferred tax asset |
|
|
|
|
1,210 |
|
1,311 |
|
Other debtors |
- |
|
33,766 |
|
|
|
|
|
|
1,210 |
|
35,077 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
517 |
|
- |
|
Amounts owed to related parties |
|
118,143 |
|
40,378 |
|
Other creditors |
- |
|
360 |
|
|
|
|
|
|
118,660 |
|
40,738 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
237,600 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Creditors include: |
|
Amounts payable otherwise than by instalment falling due for payment after more than five years |
|
237,600 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
237,600 |
|
- |
|
|
|
|
|
|
|
|
|
|
Bank loans are secured by fixed charges over the investment properties to which they relate. |
|
| 8 |
Fair value reserve |
2025 |
|
2024 |
| £ |
£ |
|
|
Fair value adjustment of investment property |
10,002 |
|
- |
|
Deferred taxation arising on the fair value adjustment |
(1,900) |
|
- |
|
At 31 March 2025 |
8,102 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 9 |
Related party transactions |
|
|
As at 31st March 2025, the business owed £111,625 (2024: £39,187) to Pete Ford Stunts Ltd, a company under common control. This loan is interest free, unsecured and repayable on demand.
The business also owed £6,517 (2024:£1,191), to it's director Pete Ford. This loan is also interest free, unsecured and repayble on demand. |
|
|
| 10 |
Other information |
|
|
Coleford Projects Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
SHMS House |
|
20 Little Park Farm Road |
|
Fareham |
|
Hampshire |
|
PO15 5TD |