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Registration number: 4261578

Colwill Contracting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2018

 

Colwill Contracting Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 4

 

Colwill Contracting Limited

(Registration number: 4261578)
Balance Sheet as at 31 July 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

3

71,210

64,129

Current assets

 

Debtors

4

21,022

23,246

Cash at bank and in hand

 

14,626

7,002

 

35,648

30,248

Creditors: Amounts falling due within one year

5

(16,251)

(17,354)

Net current assets

 

19,397

12,894

Net assets

 

90,607

77,023

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

90,507

76,923

Total equity

 

90,607

77,023

For the financial year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies’ regime.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 12 October 2018 and signed on its behalf by:
 

.........................................

Mr John George Colwill

Director

 

Colwill Contracting Limited

Notes to the Financial Statements for the Year Ended 31 July 2018

1

General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
35 Thorne Road
Doncaster
South Yorkshire
DN1 2HD

The principal place of business is:
Ashlea
Main Street
Hatfield Woodhouse
Doncaster
South Yorkshire
DN7 6NF

These financial statements were authorised for issue by the Board on 12 October 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Plant & Machinery

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Colwill Contracting Limited

Notes to the Financial Statements for the Year Ended 31 July 2018

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Colwill Contracting Limited

Notes to the Financial Statements for the Year Ended 31 July 2018

3

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 August 2017

50,250

17,000

29,927

97,177

Additions

-

-

11,028

11,028

At 31 July 2018

50,250

17,000

40,955

108,205

Depreciation

At 1 August 2017

-

10,725

22,323

33,048

Charge for the year

-

1,568

2,379

3,947

At 31 July 2018

-

12,293

24,702

36,995

Carrying amount

At 31 July 2018

50,250

4,707

16,253

71,210

At 31 July 2017

50,250

6,275

7,604

64,129

Included within the net book value of land and buildings above is £50,250 (2017 - £50,250) in respect of freehold land and buildings.
 

4

Debtors

2018
£

2017
£

Trade debtors

17,484

18,409

Other debtors

3,538

4,837

Total current trade and other debtors

21,022

23,246

5

Creditors

Note

2018
£

2017
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9,688

5,789

Other creditors

 

6,563

11,565

 

16,251

17,354