Company Registration No. 10693683 (England and Wales)
COLLATERALTHOUGHT LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2018
PAGES FOR FILING WITH REGISTRAR
COLLATERALTHOUGHT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
COLLATERALTHOUGHT LIMITED
BALANCE SHEET
AS AT 31 JULY 2018
31 July 2018
- 1 -
2018
Notes
£
£
Fixed assets
Tangible assets
3
2,398,046
Current assets
Debtors
39
Cash at bank and in hand
5
44
Creditors: amounts falling due within one year
4
(2,398,914)
Net current liabilities
(2,398,870)
Total assets less current liabilities
(824)
Capital and reserves
Called up share capital
5
1
Profit and loss reserves
(825)
Total equity
(824)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements. true

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

The financial statements were approved by the board of directors and authorised for issue on 10 January 2019 and are signed on its behalf by:
Ms J Renner
Director
Company Registration No. 10693683
COLLATERALTHOUGHT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2018
- 2 -
1
Accounting policies
Company information

Collateralthought Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Leeming Building, Ludgate Hill, Leeds, West Yorkshire, LS2 7HZ.

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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A t the time of approving the financial statements , t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Reporting period

The company was incorporated on 28 March 2017. The financial statements have been prepared for the period ended 31 July 2018, in order to be coterminous with the company's parent company.

1.4
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:

Freehold land and buildings
2% straight line

Assets in the course of construction are not depreciated.

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 .

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

COLLATERALTHOUGHT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2018
1
Accounting policies
(Continued)
- 3 -

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

COLLATERALTHOUGHT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2018
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was 0.

3
Tangible fixed assets
Assets under Construction
£
Cost
At 28 March 2017
-
Additions
2,398,046
At 31 July 2018
2,398,046
Depreciation and impairment
At 28 March 2017 and 31 July 2018
-
Carrying amount
At 31 July 2018
2,398,046
COLLATERALTHOUGHT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2018
- 5 -
4
Creditors: amounts falling due within one year
2018
£
Trade creditors
392
Amounts due to group undertakings
2,398,522
2,398,914
5
Called up share capital
2018
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006 :

The auditor's report was unqualified.

The senior statutory auditor was Chris Howitt.
The auditor was Henton & Co LLP.
2018-07-31 2017-03-28 false CCH Software CCH Accounts Production 2018.220 No description of principal activity 10 January 2019 This audit opinion is unqualified Mr S Kenee J Renner Mr A Harper Mr C Pickles Mr J Round V Wilson 10693683 2017-03-28 2018-07-31 10693683 2018-07-31 10693683 core:LandBuildings 2018-07-31 10693683 core:CurrentFinancialInstruments 2018-07-31 10693683 core:ShareCapital 2018-07-31 10693683 core:RetainedEarningsAccumulatedLosses 2018-07-31 10693683 core:ShareCapitalOrdinaryShares 2018-07-31 10693683 bus:Director2 2017-03-28 2018-07-31 10693683 core:LandBuildings core:OwnedOrFreeholdAssets 2017-03-28 2018-07-31 10693683 core:LandBuildings 2017-03-28 2018-07-31 10693683 bus:OrdinaryShareClass1 2017-03-28 2018-07-31 10693683 bus:OrdinaryShareClass1 2018-07-31 10693683 bus:PrivateLimitedCompanyLtd 2017-03-28 2018-07-31 10693683 bus:FRS102 2017-03-28 2018-07-31 10693683 bus:Audited 2017-03-28 2018-07-31 10693683 bus:SmallCompaniesRegimeForAccounts 2017-03-28 2018-07-31 10693683 bus:Director1 2017-03-28 2018-07-31 10693683 bus:Director3 2017-03-28 2018-07-31 10693683 bus:Director4 2017-03-28 2018-07-31 10693683 bus:Director5 2017-03-28 2018-07-31 10693683 bus:Director6 2017-03-28 2018-07-31 10693683 bus:FullAccounts 2017-03-28 2018-07-31 xbrli:pure xbrli:shares iso4217:GBP