Company registration number 04033911 (England and Wales)
CORONA INVESTMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
CORONA INVESTMENTS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
CORONA INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
29 APRIL 2023
29 April 2023
- 1 -
29 April 2023
30 April 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
671
789
Investment property
5
2,508,500
2,508,500
2,509,171
2,509,289
Current assets
Debtors
4,567
Creditors: amounts falling due within one year
(229,791)
(182,705)
Net current liabilities
(229,791)
(178,138)
Total assets less current liabilities
2,279,380
2,331,151
Creditors: amounts falling due after more than one year
(51,053)
Net assets
2,279,380
2,280,098
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
2,279,378
2,280,096
Total equity
2,279,380
2,280,098
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial Period ended 29 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CORONA INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
29 APRIL 2023
29 April 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 April 2024 and are signed on its behalf by:
Mr J Whitmore
Director
Company registration number 04033911 (England and Wales)
CORONA INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2023
- 3 -
1
Accounting policies
Company information
Corona Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-20 Bourne Court, Southend Road, Woodford Green, Essex, IG8 8HD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 £.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
CORONA INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2023
- 4 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2023
2022
Number
Number
Total
1
1
4
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 May 2022 and 29 April 2023
3,471
Depreciation and impairment
At 1 May 2022
2,682
Depreciation charged in the Period
118
At 29 April 2023
2,800
Carrying amount
At 29 April 2023
671
At 30 April 2022
789
5
Investment property
2023
£
Fair value
At 1 May 2022 and 29 April 2023
2,508,500
Investment property comprises West Thurrock Working Mens Club, Flint Street, Grays, Essex. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 29 April 2023 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.