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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28TH FEBRUARY 2018 |
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COLSPACE LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28TH FEBRUARY 2018 |
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FOR |
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COLSPACE LIMITED |
COLSPACE LIMITED (REGISTERED NUMBER: 09241222) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28TH FEBRUARY 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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COLSPACE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 28TH FEBRUARY 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditor |
1 Paper Mews |
330 High Street |
Dorking |
Surrey |
RH4 2TU |
COLSPACE LIMITED (REGISTERED NUMBER: 09241222) |
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BALANCE SHEET |
28TH FEBRUARY 2018 |
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28/2/18 | 28/2/17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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COLSPACE LIMITED (REGISTERED NUMBER: 09241222) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28TH FEBRUARY 2018 |
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1. | STATUTORY INFORMATION |
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Colspace 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 |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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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. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2017 - NIL). |
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4. | AUDITORS' REMUNERATION |
28/2/18 | 28/2/17 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's
financial statements |
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COLSPACE LIMITED (REGISTERED NUMBER: 09241222) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2018 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
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fittings |
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COST |
At 1st March 2017 |
and 28th February 2018 |
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DEPRECIATION |
At 1st March 2017 |
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Charge for year |
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At 28th February 2018 |
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NET BOOK VALUE |
At 28th February 2018 |
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At 28th February 2017 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1st March 2017 |
and 28th February 2018 |
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NET BOOK VALUE |
At 28th February 2018 |
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At 28th February 2017 |
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The directors have considered the value of the investment properties. There are various alternatives for |
development or marketing of the properties which have significant affects on the potential market value. The |
directors have therefore, for the purpose of these accounts, included the lowest expected value. This is not |
significantly different from the cost and hence properties have been stated at the cost values.. |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28/2/18 | 28/2/17 |
£ | £ |
Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28/2/18 | 28/2/17 |
£ | £ |
Other creditors |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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COLSPACE LIMITED (REGISTERED NUMBER: 09241222) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2018 |
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10. | RELATED PARTY DISCLOSURES |
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The Lawrence Group, a shareholder in the company, loaned £555,131 to the company (2017 £555,131). This |
loan is unsecured, repayable on demand and has a variable commercial rate of interest which is reviewed |
annually. |
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11. | POST BALANCE SHEET EVENTS |
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On 21st March 2018 Colspace Limited and Fodbury Limited, co-owners of the Valmar Trading Estate, entered |
into an option agreement for an agreed option sum of £240,000 to be split equally between them. |