Company Registration No. 01473706 (England and Wales)
C.W. COLLIER & SONS (1935) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
C.W. COLLIER & SONS (1935) LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
C.W. COLLIER & SONS (1935) LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF C.W. COLLIER & SONS (1935) LIMITED FOR THE YEAR ENDED 31 DECEMBER 2021
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of C.W. Collier & Sons (1935) Limited for the year ended 31 December 2021 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of C.W. Collier & Sons (1935) Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of C.W. Collier & Sons (1935) Limited and state those matters that we have agreed to state to the Board of Directors of C.W. Collier & Sons (1935) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C.W. Collier & Sons (1935) Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that C.W. Collier & Sons (1935) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of C.W. Collier & Sons (1935) Limited. You consider that C.W. Collier & Sons (1935) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of C.W. Collier & Sons (1935) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carpenter Box
30 August 2022
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
C.W. COLLIER & SONS (1935) LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2021
31 December 2021
- 2 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,975
11,159
Current assets
Stocks
24,543
19,230
Debtors
4
611,032
620,446
Cash at bank and in hand
198,739
156,061
834,314
795,737
Creditors: amounts falling due within one year
5
(229,623)
(205,477)
Net current assets
604,691
590,260
Total assets less current liabilities
611,666
601,419
Provisions for liabilities
(1,200)
(1,500)
Net assets
610,466
599,919
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
610,366
599,819
Total equity
610,466
599,919

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

For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

C.W. COLLIER & SONS (1935) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021
31 December 2021
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 30 August 2022 and are signed on its behalf by:
Mr C W Collier
Mr J C Collier
Director
Director
Company Registration No. 01473706
C.W. COLLIER & SONS (1935) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
1
Accounting policies
Company information

C.W. Collier & Sons (1935) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 28 Teville Road, Worthing, West Sussex, BN11 1UG.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties, the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment. true

 

Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Revenue is recognised when the invoice is raised and installation or delivery of goods takes place.

Deposits received before work has commenced are included within creditors.
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:

Plant and machinery
20% straight line per annum
Motor vehicles
25% diminishing balance per annum

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
Stocks

Stock is valued at the lower of cost and net realisable value.

1.6
Cash at bank and in hand

Cash and cash equivalents 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.

C.W. COLLIER & SONS (1935) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 5 -
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.

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.

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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.8
Equity instruments

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

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.11
Retirement benefits
The company operates a defined contribution scheme for the benefit of its directors. Contributions payable are charged to the profit and loss account in the year they are payable.
1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

C.W. COLLIER & SONS (1935) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 6 -
1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 16 (2020 - 16).

3
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 January 2021
723
71,513
72,236
Disposals
(723)
(7,837)
(8,560)
At 31 December 2021
-
0
63,676
63,676
Depreciation and impairment
At 1 January 2021
723
60,354
61,077
Depreciation charged in the year
-
0
2,789
2,789
Eliminated in respect of disposals
(723)
(6,442)
(7,165)
At 31 December 2021
-
0
56,701
56,701
Carrying amount
At 31 December 2021
-
0
6,975
6,975
At 31 December 2020
-
0
11,159
11,159
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
34,010
39,034
Amounts owed by group undertakings
571,440
570,140
Other debtors
5,582
11,272
611,032
620,446
C.W. COLLIER & SONS (1935) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 7 -
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
42,434
38,324
Taxation and social security
67,112
78,853
Other creditors
120,077
88,300
229,623
205,477
6
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2021
2020
£
£
116,320
136,320
2021-12-312021-01-01false30 August 2022CCH SoftwareCCH Accounts Production 2022.200No description of principal activityMr C W M CollierMr Clifford CollierMr J C CollierMr C W M Collier014737062021-01-012021-12-31014737062021-12-31014737062020-12-3101473706core:PlantMachinery2021-12-3101473706core:MotorVehicles2021-12-3101473706core:PlantMachinery2020-12-3101473706core:MotorVehicles2020-12-3101473706core:CurrentFinancialInstrumentscore:WithinOneYear2021-12-3101473706core:CurrentFinancialInstrumentscore:WithinOneYear2020-12-3101473706core:CurrentFinancialInstruments2021-12-3101473706core:CurrentFinancialInstruments2020-12-3101473706core:ShareCapital2021-12-3101473706core:ShareCapital2020-12-3101473706core:RetainedEarningsAccumulatedLosses2021-12-3101473706core:RetainedEarningsAccumulatedLosses2020-12-3101473706bus:Director12021-01-012021-12-3101473706bus:Director22021-01-012021-12-3101473706core:PlantMachinery2021-01-012021-12-3101473706core:MotorVehicles2021-01-012021-12-3101473706core:PlantMachinery2020-12-3101473706core:MotorVehicles2020-12-31014737062020-12-3101473706core:WithinOneYear2021-12-3101473706core:WithinOneYear2020-12-3101473706bus:PrivateLimitedCompanyLtd2021-01-012021-12-3101473706bus:SmallCompaniesRegimeForAccounts2021-01-012021-12-3101473706bus:FRS1022021-01-012021-12-3101473706bus:AuditExemptWithAccountantsReport2021-01-012021-12-3101473706bus:Director32021-01-012021-12-3101473706bus:CompanySecretary12021-01-012021-12-3101473706bus:FullAccounts2021-01-012021-12-31xbrli:purexbrli:sharesiso4217:GBP