Collerino Developments Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12035901

Collerino Developments Ltd

Filleted Unaudited Financial Statements

31 December 2025

Collerino Developments Ltd

Statement of Financial Position

31 December 2025

	31 Dec 25		30 Jun 24
Note	£	£	£

Fixed assets

Tangible assets	5	4,762	–
Investments	6	100	–
		-------	----
		4,862	–

Current assets

Stocks		3,539,165	3,535,528
Debtors	7	48,079	6,882
Cash at bank and in hand		95,640	6,527
		------------	------------
		3,682,884	3,548,937

Creditors: amounts falling due within one year	8	( 2,252,784)		( 4,009,479)
		------------		------------
Net current assets/(liabilities)			1,430,100	( 460,542)
			------------	---------
Total assets less current liabilities			1,434,962	( 460,542)

Creditors: amounts falling due after more than one year	9	( 2,182,958)	–
		------------	---------
Net liabilities		( 747,996)	( 460,542)
		------------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 747,997)	( 460,543)
	---------	---------
Shareholders deficit	( 747,996)	( 460,542)
	---------	---------

These financial statements have been prepared and delivered 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'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 31 December 2025 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 period 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 .

Collerino Developments Ltd

Statement of Financial Position (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 7 May 2026 , and are signed on behalf of the board by:

Mr G P Losi	Mr M J Losi
Director	Director

Company registration number: 12035901

Collerino Developments Ltd

Notes to the Financial Statements

Period from 1 July 2024 to 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Bruce Grove, London, N17 6RA.

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.

Going concern

The financial statements have been prepared on the going concern basis after taking into account the excess of liabilities over assets at the balance sheet date, as the directors believe that adequate cash resources will be available to operate for the foreseeable future, which covers a period of not less than twelve months from the date the financial statements are approved. The directors and the parent company will continue to provide financial support and will not seek repayment of the loans provided until the company has sufficient cash reserves.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities. The only accounting estimate made by management is the valuation of stocks, which has been measured at the lower of cost and estimated selling price less costs to complete and sell.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	25% straight line

Investments

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

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

4. Employee numbers

The average number of persons employed by the company during the year was Nil.

5. Tangible assets

	Fixtures and fittings
	£
Cost
At 1 July 2024	–
Additions	6,349
	-------
At 31 December 2025	6,349
	-------
Depreciation
At 1 July 2024	–
Charge for the period	1,587
	-------
At 31 December 2025	1,587
	-------
Carrying amount
At 31 December 2025	4,762
	-------
At 30 June 2024	–
	-------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 July 2024	–
Additions	100
	----
At 31 December 2025	100
	----
Impairment
At 1 July 2024 and 31 December 2025	–
	----

Carrying amount
At 31 December 2025	100
	----
At 30 June 2024	–
	----

7. Debtors

	31 Dec 25	30 Jun 24
	£	£
Trade debtors	362	–
Prepayments and accrued income	40,229	4,344
Other debtors	7,488	2,538
	--------	-------
	48,079	6,882
	--------	-------

8. Creditors: amounts falling due within one year

	31 Dec 25	30 Jun 24
	£	£
Bank loans and overdrafts	7,848	2,480,970
Trade creditors	21,966	9,533
Amounts owed to group undertakings	844,399	667,049
Accruals and deferred income	11,236	8,477
Director loan accounts	218,649	170,252
Other creditors	1,148,686	673,198
	------------	------------
	2,252,784	4,009,479
	------------	------------

Included in creditors falling due within one year is a bank loan of £7,848 (2024: £Nil), which is secured by a first legal charge over the company's development property and by a cross guarantee provided by the wholly owned subsidiary company.

Included in creditors falling due within one year is a bank loan of £Nil (2024: £1,729,008), which is secured by a fixed charge over the company's development property. Also, included in bank loans is Coronavirus Business Interruption Loan of £Nil (2024: £751,962), which is secured by a fixed charge over the company's development property and 80% guaranteed by the government.

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

	31 Dec 25	30 Jun 24
	£	£
Bank loans and overdrafts	2,182,958	–
	------------	----

Included in creditors falling due after more than one year is a bank loan of £2,182,958 (2024: £Nil), which is secured by a first legal charge over the company's development property and by a cross guarantee provided by the wholly owned subsidiary company.

10. Related party transactions

Included in creditors due within one year is a loan of £218,649 (2024: £170,252) from a director who is also a shareholder of the company. The loan is interest-free and has no fixed repayment term. The company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.