Colonna Industries Group Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 10392317 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2020 TO 30 JUNE 2021

FOR

COLONNA INDUSTRIES GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M H Colonna-Dashwood

J Strong

D Balmer

H Jansen

F Dendy

REGISTERED OFFICE:

Unit 5

Apollo Park

Armstrong Way

Yate

Bristol

BS37 5AH

REGISTERED NUMBER:

10392317 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

4 Mount Ephraim Road

Tunbridge Wells

Kent

TN1 1EE

FIXED ASSETS

Investments

4

404

CURRENT ASSETS

Debtors

5

188,003

68,976

CREDITORS

Amounts falling due within one year

6

1,800

1,860

NET CURRENT ASSETS

186,203

67,116

TOTAL ASSETS LESS CURRENT LIABILITIES

186,607

67,520

CAPITAL AND RESERVES

Called up share capital

7

815

354

Share premium

8

189,481

69,942

Retained earnings

8

(3,689

)

(2,776

)

SHAREHOLDERS' FUNDS

186,607

67,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2022 and were signed on its behalf by:

F Dendy - Director

1.	STATUTORY INFORMATION

Colonna Industries Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has the support of the parent company and no significant long term liabilities. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

In their assessment of going concern the directors have considered the current and developing impact on the business as a result of the COVID19 virus. This has not had a significant, immediate impact on the company's operations because the company is a holding company and therefore was not trading during this period.

Having regard to the above, the directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the period 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 period 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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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 no significant risk of change in value.

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 accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Creditors

Short term creditors are measured at the transaction price.

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

- the requirements of Section 7 Statement of Cash Flows;

- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);

- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;

- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;

- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2020 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2020

and 30 June 2021

404

NET BOOK VALUE

At 30 June 2021

404

At 31 March 2020

404

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Amounts owed by group undertakings

188,003

68,976

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Amounts owed to group undertakings

300

400

Other creditors

1,500

1,460

1,800

1,860

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

81,501

Ordinary

0.01

815

354

During the year, 32,000 ordinary shares of £0.01 each were allotted as fully paid at a premium of £1.865 per share.

Additionally, 14,143 ordinary shares of £0.01 each were allotted as fully paid at premium of £4.23238 per share during the year.

8.

RESERVES

Retained

Share

earnings

premium

Totals

£

At 1 April 2020

(2,776

)

69,942

67,166

Deficit for the period

(913

)

(913

)

Bonus share issue

-

119,539

At 30 June 2021

(3,689

)

189,481

185,792

9.	RELATED PARTY DISCLOSURES

Colonna & Smalls Limited

Subsidiary company

At the balance sheet date, £300 (2020: £300) was owed to Colonna & Smalls Limited, a subsidiary to the company.

Colonna Limited

Subsidiary company

At the balance sheet date, £188,003 (2020: £68,976) was due from Colonna Limited, a subsidiary to the company.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Think Better Group Limited.

Colonna Industries Group Limited - Accounts to registrar (filleted) - small 18.2

Colonna Industries Group Limited - Accounts to registrar (filleted) - small 18.2