Registration number:
Coleman Remediation Services Limited
for the Year Ended 30 April 2023
Coleman Remediation Services Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Coleman Remediation Services Limited
Company Information
Director |
Mr M A Coleman |
Company secretary |
Ms L Morris |
Registered office |
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Solicitors |
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Bankers |
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Auditors |
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Coleman Remediation Services Limited
(Registration number: 04474288)
Balance Sheet as at 30 April 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
100,000 |
100,000 |
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Retained earnings |
(1,996,835) |
(1,993,202) |
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Shareholders' deficit |
(1,896,835) |
(1,893,202) |
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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Coleman Remediation Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
The financial statements are prepared in Sterling which is the functional currency of the company and are rounded to the nearest £1.
Summary of disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
- the requirements of Section 4 Statement of Financial Position paragraph 4.12(a)(iv);
- the requirements of Section 11 Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; and
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of CNC Group Holdings Limited as at 30 April 2023 and these financial statements may be obtained from Shady Lane, Great Barr, Birmingham, B44 9ER.
Coleman Remediation Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
Going concern
After making enquiries and preparing integrated group consolidated profit and loss and cash flow forecasts for one year from the date the financial statements are signed, the directors have formed a judgement that, as at the date of approving the financial statements, there is a reasonable expectation that the group and the company have adequate resources to continue in existence for the foreseeable future.
The Directors acknowledge that the company is reliant on ongoing financial and operational support from CNC Group Holdings Limited and Coleman & Company Limited.
Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Audit report
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Judgements
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Key sources of estimation uncertainty
Critical accounting estimates and assumptions
The company make estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.
Long term contracts
Income is recognised on costs incurred to date, as a percentage of the total expected costs of the contract, which is deemed close to the stage of completion of the project.
Impairment of debtors
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the aging profile of debtors and historical experience.
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.
Coleman Remediation Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
Contract revenue recognition
Turnover is recognised as contract activity progresses. Turnover is stated at cost appropriate to the stage of completion of the contract plus attributable profit, less amounts recognised in previous year.
Retention income is recognised as they become due to the company.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive 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.
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 |
Plant and machinery |
20%-33% straight line |
Fixtures and fittings |
10%-20% straight line |
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.
Coleman Remediation Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
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.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Coleman Remediation Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
Financial instruments
Classification
Preference shares are measured at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors or creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.
Financial assets that are measured at cost and amortised are assessed at the end of each reporting year for objective evidence of impairment. If objective evidence of impairment is found, am impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Coleman Remediation Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
Tangible assets |
Fixtures and fittings |
Total |
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Cost or valuation |
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At 1 May 2022 |
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At 30 April 2023 |
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Depreciation |
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At 1 May 2022 |
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Charge for the year |
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At 30 April 2023 |
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Carrying amount |
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At 30 April 2023 |
- |
- |
At 30 April 2022 |
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Debtors |
Coleman Remediation Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
Current |
2023 |
2022 |
Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Accruals and deferred income |
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Loan notes included within creditors due within one year are secured on the fixed and current assets of the company.
Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Other non-current financial liabilities |
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2,013,583 |
1,945,200 |
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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75,000 |
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75,000 |
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25,000 |
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25,000 |
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Coleman Remediation Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Redeemable preference shares |
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In April 2017 the company issued 5% preference shares that the company is obliged to redeem between April 2024 but not later than April 2029. Shares are redeemable in multiples of £35,000 at an amount equal to the issue price plus 10% of the issue price.
Preference shares carry no voting rights.
Related party transactions |
Summary of transactions with other related parties
Parent and ultimate parent undertaking |
The company's immediate parent is
These financial statements are available upon request from Companies House, Crown Way, Cardiff, CF14 3UZ.
The ultimate controlling party is