Registered number
01202700
Collinson & Stelling Limited
Unaudited Filleted Accounts
30 April 2023
Collinson & Stelling Limited
Registered number: 01202700
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 221,731 236,151
Current assets
Stocks 147,742 174,364
Debtors 4 156,180 163,541
Cash at bank and in hand 196,897 147,911
500,819 485,816
Creditors: amounts falling due within one year 5 (166,855) (179,637)
Net current assets 333,964 306,179
Total assets less current liabilities 555,695 542,330
Creditors: amounts falling due after more than one year 6 - (62,225)
Provisions for liabilities (8,515) (7,630)
Net assets 547,180 472,475
Capital and reserves
Called up share capital 5,000 5,000
Profit and loss account 542,180 467,475
Shareholders' funds 547,180 472,475
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C P Stelling
Director
Approved by the board on 3 November 2023
Collinson & Stelling Limited
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings & leashold improvements 5% Reducing balance
Plant and machinery 25% and 20% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2022 270,778 237,655 63,291 571,724
Additions - 4,995 - 4,995
At 30 April 2023 270,778 242,650 63,291 576,719
Depreciation
At 1 May 2022 73,228 202,470 59,875 335,573
Charge for the year 9,878 8,683 854 19,415
At 30 April 2023 83,106 211,153 60,729 354,988
Net book value
At 30 April 2023 187,672 31,497 2,562 221,731
At 30 April 2022 197,550 35,185 3,416 236,151
4 Debtors 2023 2022
£ £
Trade debtors 146,264 154,025
Other debtors 9,916 9,516
156,180 163,541
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 18,655
Trade creditors 38,620 105,640
Taxation and social security costs 76,629 43,283
Other creditors 51,606 12,059
166,855 179,637
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 62,225
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans - 80,880
The bank loan was fully repaid during the year. It was previously secured on the land and buildings owned by the company and that part of the premises owned by Mr C P Stelling. Mr Stelling also gave a personal guarantee to the bank.
8 Related party transactions
Mr C P Stelling who is a director and shareholder of the company owns a part of the premises used by the company for which he receives an annual rent of £40,000 from the company.
9 Controlling party
Mr C & Mrs E Stelling are the only Directors of the company and own 100% of its share capital.
10 Other information
Collinson & Stelling Limited is a private company limited by shares and incorporated in England. Its registered office is:
Collinson & Stelling Limited
86 Bridge Street
Castleford
West Yorkshire
WF10 4LA
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