Col Mar Bangor Limited - Accounts to registrar (filleted) - small 18.2
Col Mar Bangor Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| FOR |
| COL MAR BANGOR LIMITED |
| COL MAR BANGOR LIMITED (REGISTERED NUMBER: NI629139) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 6 |
| COL MAR BANGOR LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 17 Clarendon Road |
| Clarendon Dock |
| Belfast |
| BT1 3BG |
| BANKERS: |
| 17 Castle Place |
| Belfast |
| Co. Antrim |
| BT1 1EL |
| COL MAR BANGOR LIMITED (REGISTERED NUMBER: NI629139) |
| BALANCE SHEET |
| 31 MARCH 2022 |
| 31.3.22 | 31.3.21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| COL MAR BANGOR LIMITED (REGISTERED NUMBER: NI629139) |
| BALANCE SHEET - continued |
| 31 MARCH 2022 |
| The financial statements were authorised for issue by the Board of Directors and authorised for issue on |
| COL MAR BANGOR LIMITED (REGISTERED NUMBER: NI629139) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 1. | STATUTORY INFORMATION |
| Col Mar Bangor Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| In preparing these financial statements the directors have made the following judgements: |
| Establish whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general. |
| The directors also consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable. |
| Turnover |
| Turnover represents the fair value of invoiced rental income excluding VAT where appropriate. |
| Tangible fixed assets |
| Computer equipment | - |
| Financial instruments |
| Financial instruments |
| All financial instruments of the company are considered to meet the definition of basic financial instruments. |
| - Short term debtors and creditors |
| Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account. |
| - Cash and cash equivalents |
| Cash and cash equivalents comprise cash at bank. |
| - Loans and borrowings |
| All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date. |
| COL MAR BANGOR LIMITED (REGISTERED NUMBER: NI629139) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| 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. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| 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. |
| 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. |
| Investment properties |
| Investment properties are valued at fair value as determined by the directors or external valuers, based on rental yield taking into consideration nature, location and condition of the assets. |
| No depreciation is provided on investment property. Changes in fair value will be recognised in the profit and loss account. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Computer |
| equipment |
| £ |
| COST |
| Additions |
| At 31 March 2022 |
| DEPRECIATION |
| Charge for year |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| The directors are satisfied that cost equates to market valuation at year end date. |
| COL MAR BANGOR LIMITED (REGISTERED NUMBER: NI629139) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2021 |
| and 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| The directors are of the opinion that the current market value of the properties is similar to their original purchase costs and are content that there is no material difference in their value. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Tax |
| VAT | 124 | 3,130 |
| Directors' current accounts | 1,706,469 | 1,772,228 |
| Accruals and deferred income |
| Accrued expenses |
| 8. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by it's directors by virtue of their shareholdings. |