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REGISTERED NUMBER:
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COLTKELL LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017 |
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REGISTERED NUMBER:
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COLTKELL LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017 |
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COLTKELL LIMITED (REGISTERED NUMBER: 01472791) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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COLTKELL LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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COLTKELL LIMITED (REGISTERED NUMBER: 01472791) |
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BALANCE SHEET |
30 APRIL 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Revaluation reserve | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the
end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
COLTKELL LIMITED (REGISTERED NUMBER: 01472791) |
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BALANCE SHEET - continued |
30 APRIL 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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COLTKELL LIMITED (REGISTERED NUMBER: 01472791) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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1. | STATUTORY INFORMATION |
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Coltkell Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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. The financial statements have been prepared under the historical cost convention. |
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The nature of these changes and their impact on opening equity and profit for the comparative period are |
explained o pages 13 to 15. |
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The financial statements are presented in sterling which is the functional currency of the company and |
rounded to the nearest £. |
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The significant accounting policies applied in the preparation of these financial statements are set out below. |
These policies have been consistently applied to all years presented unless otherwise stated. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable net and trade discounts. |
The policies adopted for the recognition of turnover are as follows: |
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Rental income |
Rental income from operating leases net of any incentives given to the lessees is recognised on a straight-line |
basis over the lease term. |
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Interest and dividends receivable |
Interest income is recognised using the effective interest method and dividend income is recognised as the |
company's right to receive payment is established. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is |
provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over |
its expected useful life. |
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Investment property |
Investment properties for which fair value can be measured reliably without undue cost or effort are |
measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
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The investment properties were valued as at 30 April 2017 at a fair value of £2,415,000. The valuations were |
undertaken by the directors with assistance from professional valuers. |
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Deferred tax is provided on these gains at the rate expected to apply when the property is sold. |
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COLTKELL LIMITED (REGISTERED NUMBER: 01472791) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and |
laws that have been enacted or substantively enacted by the year end and that are expected to apply to the |
reversal of the timing difference. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's |
pension scheme are charged to profit or loss in the period to which they relate. |
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Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative expenses. |
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Investments |
Investments are recognised initially at fair value which is normally the transaction price excluding transaction |
costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or |
their fair value can otherwise be measured reliably. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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COLTKELL LIMITED (REGISTERED NUMBER: 01472791) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 May 2016 |
and 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 May 2016 |
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Additions |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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Freehold investment properties were valued at £2,400,000 on 19 July 2012 by Millar Sandy Commercial |
Property Consultants on the basis of the open market value for existing use. |
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The historical cost of the property is £1,081,205. |
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There has been an addition/improvement to one of the properties of £15,000 during the current financial |
year. |
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The total cost now stands at £1,096,205. |
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All of the properties are rented out under operating leases. |
COLTKELL LIMITED (REGISTERED NUMBER: 01472791) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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5. | INVESTMENT PROPERTY - continued |
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Fair value at 30 April 2017 is represented by: |
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£ |
Valuation in 2012 | 1,318,795 |
Cost | 1,096,205 |
2,415,000 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Tax |
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Social security and other taxes |
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Other creditors |
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Accrued expenses |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary Shares | £1 | 100 | 100 |
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9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 May 2016 |
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Revaluation in year | 1,318 |
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At 30 April 2017 |
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