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Registration number: 09210589

Colin Stephens Contractor Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Colin Stephens Contractor Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 10

Detailed Profit and Loss Account

11

 

Colin Stephens Contractor Limited

Company Information

Director

Mr Colin Stephens

Company secretary

Mrs E J May

Registered office

2 Drake House
Cook Way
Taunton
Somerset
TA2 6BJ

Accountants

Welch & Co (South West) Limited
2 Drake House
Cook Way
Taunton
Somerset
TA2 6BJ

 

Colin Stephens Contractor Limited

Director's Report for the Year Ended 31 March 2023

The director presents his report and the financial statements for the year ended 31 March 2023.

Director of the company

The director who held office during the year was as follows:

Mr Colin Stephens

Principal activity

The principal activity of the company is builder

Small companies provision statement

This report has 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.

Approved and authorised by the director on 3 October 2023
 

.........................................
Mr Colin Stephens
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Colin Stephens Contractor Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Colin Stephens Contractor Limited for the year ended 31 March 2023 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Colin Stephens Contractor Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Colin Stephens Contractor Limited and state those matters that we have agreed to state to the Board of Directors of Colin Stephens Contractor Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Colin Stephens Contractor Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Colin Stephens Contractor Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Colin Stephens Contractor Limited. You consider that Colin Stephens Contractor 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 accounts of Colin Stephens Contractor 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 accounts.

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

Welch & Co (South West) Limited
2 Drake House
Cook Way
Taunton
Somerset
TA2 6BJ

3 October 2023

 

Colin Stephens Contractor Limited

(Registration number: 09210589)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

485

646

Current assets

 

Debtors

6

-

17,154

Cash at bank and in hand

 

3,234

535

 

3,234

17,689

Creditors: Amounts falling due within one year

7

(15,929)

(11,915)

Net current (liabilities)/assets

 

(12,695)

5,774

Total assets less current liabilities

 

(12,210)

6,420

Creditors: Amounts falling due after more than one year

7

(5,671)

(10,833)

Net liabilities

 

(17,881)

(4,413)

Capital and reserves

 

Called up share capital

8

50

50

Retained earnings

(17,931)

(4,463)

Shareholders' deficit

 

(17,881)

(4,413)

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

Approved and authorised by the director on 3 October 2023
 

.........................................
Mr Colin Stephens
Director

 

Colin Stephens Contractor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
2 Drake House
Cook Way
Taunton
Somerset
TA2 6BJ
England

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet 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.

 

Colin Stephens Contractor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 2).

 

Colin Stephens Contractor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

161

215

 

Colin Stephens Contractor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

1,597

1,597

At 31 March 2023

1,597

1,597

Depreciation

At 1 April 2022

951

951

Charge for the year

161

161

At 31 March 2023

1,112

1,112

Carrying amount

At 31 March 2023

485

485

At 31 March 2022

646

646

6

Debtors

Current

2023
£

2022
£

Other debtors

-

17,154

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9

14,365

10,973

Trade creditors

 

367

(240)

Taxation and social security

 

117

42

Other creditors

 

1,080

1,140

 

15,929

11,915

Due after one year

 

Loans and borrowings

9

5,671

10,833

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

5,671

10,833

 

Colin Stephens Contractor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

50

50

50

50

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

5,671

10,833

2023
£

2022
£

Current loans and borrowings

Bank borrowings

2,662

-

Other borrowings

11,703

10,973

14,365

10,973

10

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £Nil per each Ordinary

 

-

 

-

         

11

Related party transactions

 

Colin Stephens Contractor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,575

11,250

 

Colin Stephens Contractor Limited

Detailed Profit and Loss Account for the Year Ended 31 March 2023

2023
 £

2022
 £

Turnover

Sale of goods, UK

4,325

-

Grants and subsidies

-

8,386

4,325

8,386

Cost of sales

Materials

155

-

Wages and salaries (excluding directors)

-

2,434

155

2,434

Employment costs

Directors remuneration

(12,575)

(11,250)

Directors NIC (Employers)

(505)

(333)

(13,080)

(11,583)

Establishment costs

Insurance

(138)

(464)

General administrative expenses

Telephone and fax

(360)

(350)

Mobile

(424)

(344)

Computer software and maintenance costs

-

(369)

Printing, postage and stationery

(45)

(5)

Motor expenses

(1,260)

(1,356)

Payroll

(612)

(615)

Accountancy fees

(1,080)

(1,120)

Legal and professional fees

(300)

(300)

(4,081)

(4,459)

Finance charges

Bank charges

(16)

(36)

Depreciation costs

Depreciation of plant and machinery (owned)

(161)

(215)

Operating loss

(13,306)

(10,805)

Other interest receivable and similar income

Other interest receivable

-

2

Interest payable and similar charges

Bank loan interest payable

162

108

Net finance cost

(162)

(106)

Loss before tax

(13,468)

(10,911)