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REGISTERED NUMBER: 05714682 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Costin Commercials Limited

Costin Commercials Limited (Registered number: 05714682)






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


Costin Commercials Limited

Company Information
for the Year Ended 31 March 2023







Directors: Mr B J Costin
Mr D Livingstone





Secretary: Mrs A Costin





Registered office: 84 Barracks Road
Sandy Lane Industrial Estate
Stourport-on-Severn
Worcestershire
DY13 9QF





Registered number: 05714682 (England and Wales)





Accountants: Crowthers Chartered Accountants
19 High Street
Pershore
Worcestershire
WR10 1AA

Costin Commercials Limited (Registered number: 05714682)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 643,116 595,874
643,116 595,874

CURRENT ASSETS
Stocks 64,800 64,800
Debtors 6 381,676 460,333
Cash at bank and in hand 505,582 321,390
952,058 846,523
CREDITORS
Amounts falling due within one year 7 383,791 291,706
NET CURRENT ASSETS 568,267 554,817
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,211,383

1,150,691

PROVISIONS FOR LIABILITIES 56,974 47,981
NET ASSETS 1,154,409 1,102,710

CAPITAL AND RESERVES
Called up share capital 1,700 1,700
Retained earnings 1,152,709 1,101,010
1,154,409 1,102,710

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.

Costin Commercials Limited (Registered number: 05714682)

Balance Sheet - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:





Mr B J Costin - Director


Costin Commercials Limited (Registered number: 05714682)

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

1. STATUTORY INFORMATION

Costin Commercials 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Tangible assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


Costin Commercials Limited (Registered number: 05714682)

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

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 April 2022
and 31 March 2023 80,000
Amortisation
At 1 April 2022
and 31 March 2023 80,000
Net book value
At 31 March 2023 -
At 31 March 2022 -

Costin Commercials Limited (Registered number: 05714682)

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

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
Cost
At 1 April 2022 341,836 191,454 43,580
Additions - - 31,750
At 31 March 2023 341,836 191,454 75,330
Depreciation
At 1 April 2022 - 69,093 30,582
Charge for year - 12,232 6,715
At 31 March 2023 - 81,325 37,297
Net book value
At 31 March 2023 341,836 110,129 38,033
At 31 March 2022 341,836 122,361 12,998

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 April 2022 15,819 325,499 9,098 927,286
Additions - 85,535 - 117,285
At 31 March 2023 15,819 411,034 9,098 1,044,571
Depreciation
At 1 April 2022 11,608 211,599 8,530 331,412
Charge for year 1,053 49,858 185 70,043
At 31 March 2023 12,661 261,457 8,715 401,455
Net book value
At 31 March 2023 3,158 149,577 383 643,116
At 31 March 2022 4,211 113,900 568 595,874

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 381,217 460,333
Other debtors 459 -
381,676 460,333

Costin Commercials Limited (Registered number: 05714682)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 285,481 196,003
Taxation and social security 47,836 58,304
Other creditors 50,474 37,399
383,791 291,706

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid
Number:Class:Nominal20212020
££
500Ordinary A1500500
500Ordinary B1500500
500Ordinary C1500500
200Ordinary D1200200
1,7001,700