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REGISTERED NUMBER: 04764021 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Collins Engineering Croughton Limited

Collins Engineering Croughton Limited (Registered number: 04764021)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Collins Engineering Croughton Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: R S Collins
G D Collins
C M Collins
D S Collins





REGISTERED OFFICE: Park View
Croughton
Brackley
Northamptonshire
NN13 5LQ





REGISTERED NUMBER: 04764021 (England and Wales)





ACCOUNTANTS: Handleys Chartered Accountants
10 Manor Park
Banbury
Oxfordshire
OX16 3TB

Collins Engineering Croughton Limited (Registered number: 04764021)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 50,135 45,457
50,135 45,457

CURRENT ASSETS
Stocks 4,500 4,500
Debtors 6 60,209 88,757
Cash at bank and in hand 286,626 322,858
351,335 416,115
CREDITORS
Amounts falling due within one year 7 312,469 302,324
NET CURRENT ASSETS 38,866 113,791
TOTAL ASSETS LESS CURRENT
LIABILITIES

89,001

159,248

PROVISIONS FOR LIABILITIES 9,526 8,637
NET ASSETS 79,475 150,611

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 79,375 150,511
SHAREHOLDERS' FUNDS 79,475 150,611

Collins Engineering Croughton Limited (Registered number: 04764021)

Balance Sheet - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





R S Collins - Director


Collins Engineering Croughton Limited (Registered number: 04764021)

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

1. STATUTORY INFORMATION

Collins Engineering Croughton Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of value added tax and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. For sales of goods, the turnover is shown net of distribution and carriage charges.

Revenue from sale of goods is recognised when significant risks and rewards of ownership have been transferred to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from sale of services is recognised when the stage of completion of the transaction can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2003, is being amortised evenly over its estimated useful life of five years.

This policy has been in place since the date of transition, being 1/4/2016.

Previously Goodwill was amortised over 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance and 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Collins Engineering Croughton Limited (Registered number: 04764021)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 70,600
AMORTISATION
At 1 April 2022
and 31 March 2023 70,600
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Collins Engineering Croughton Limited (Registered number: 04764021)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 39,386 116,087 155,473
Additions - 23,970 23,970
Disposals - (16,130 ) (16,130 )
At 31 March 2023 39,386 123,927 163,313
DEPRECIATION
At 1 April 2022 32,614 77,402 110,016
Charge for year 1,355 14,907 16,262
Eliminated on disposal - (13,100 ) (13,100 )
At 31 March 2023 33,969 79,209 113,178
NET BOOK VALUE
At 31 March 2023 5,417 44,718 50,135
At 31 March 2022 6,772 38,685 45,457

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 56,542 85,050
Other debtors 3,667 3,707
60,209 88,757

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 11,555 14,070
Taxation and social security 41,674 59,677
Other creditors 259,240 228,577
312,469 302,324