IRIS Accounts Production v23.3.1.45 01440238 director 1.4.22 31.3.23 31.3.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure014402382022-03-31014402382023-03-31014402382022-04-012023-03-31014402382021-03-31014402382021-04-012022-03-31014402382022-03-3101440238ns16:EnglandWales2022-04-012023-03-3101440238ns15:PoundSterling2022-04-012023-03-3101440238ns11:Director12022-04-012023-03-3101440238ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3101440238ns11:SmallEntities2022-04-012023-03-3101440238ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3101440238ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3101440238ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3101440238ns11:FullAccounts2022-04-012023-03-3101440238ns11:OrdinaryShareClass12022-04-012023-03-3101440238ns11:CompanySecretary12022-04-012023-03-3101440238ns11:RegisteredOffice2022-04-012023-03-3101440238ns6:CurrentFinancialInstruments2023-03-3101440238ns6:CurrentFinancialInstruments2022-03-3101440238ns6:Non-currentFinancialInstruments2023-03-3101440238ns6:Non-currentFinancialInstruments2022-03-3101440238ns6:ShareCapital2023-03-3101440238ns6:ShareCapital2022-03-3101440238ns6:FurtherSpecificReserve2ComponentTotalEquity2023-03-3101440238ns6:FurtherSpecificReserve2ComponentTotalEquity2022-03-3101440238ns6:RetainedEarningsAccumulatedLosses2023-03-3101440238ns6:RetainedEarningsAccumulatedLosses2022-03-3101440238ns6:MotorVehicles2022-04-012023-03-3101440238ns6:ComputerEquipment2022-04-012023-03-3101440238ns6:MotorVehicles2022-03-3101440238ns6:ComputerEquipment2022-03-3101440238ns6:MotorVehicles2023-03-3101440238ns6:ComputerEquipment2023-03-3101440238ns6:MotorVehicles2022-03-3101440238ns6:ComputerEquipment2022-03-3101440238ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3101440238ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3101440238ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-03-3101440238ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-03-3101440238ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-03-3101440238ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-03-3101440238ns6:AcceleratedTaxDepreciationDeferredTax2023-03-3101440238ns6:AcceleratedTaxDepreciationDeferredTax2022-03-3101440238ns6:DeferredTaxation2022-03-3101440238ns6:DeferredTaxation2022-04-012023-03-3101440238ns6:DeferredTaxation2023-03-3101440238ns11:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: 01440238 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2023

for

JOSEPH COLMAN & SON LIMITED

JOSEPH COLMAN & SON LIMITED (REGISTERED NUMBER: 01440238)

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


JOSEPH COLMAN & SON LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: A T Harper





SECRETARY: A T Harper





REGISTERED OFFICE: Pyke House
Passage Road
Aust
Bristol
BS35 4BG





REGISTERED NUMBER: 01440238 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
6-8 Bath Street
Bristol
BS1 6HL

JOSEPH COLMAN & SON LIMITED (REGISTERED NUMBER: 01440238)

Balance Sheet
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 19,482 26,200
Investments 5 50 50
19,532 26,250

CURRENT ASSETS
Stocks - 544,273
Debtors 6 871,915 320,719
Cash at bank 627,290 551,714
1,499,205 1,416,706
CREDITORS
Amounts falling due within one year 7 (306,146 ) (340,692 )
NET CURRENT ASSETS 1,193,059 1,076,014
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,212,591

1,102,264

CREDITORS
Amounts falling due after more than one
year

8

(25,833

)

(40,000

)

PROVISIONS FOR LIABILITIES 9 (3,526 ) (6,305 )
NET ASSETS 1,183,232 1,055,959

CAPITAL AND RESERVES
Called up share capital 10 6,700 6,700
Other reserves 3,300 3,300
Retained earnings 1,173,232 1,045,959
SHAREHOLDERS' FUNDS 1,183,232 1,055,959

JOSEPH COLMAN & SON LIMITED (REGISTERED NUMBER: 01440238)

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 director acknowledges his 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 and authorised for issue by the director and authorised for issue on 17 November 2023 and were signed by:





A T Harper - Director


JOSEPH COLMAN & SON LIMITED (REGISTERED NUMBER: 01440238)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023


1. COMPANY INFORMATION

Joseph Colman & Son 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 company's principal activities and nature of its operations was that of general builders and decorators.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Turnover
Turnover represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

JOSEPH COLMAN & SON LIMITED (REGISTERED NUMBER: 01440238)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial assets
Includes trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities,
Includes trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit and loss on straight line basis over the period of the lease.

JOSEPH COLMAN & SON LIMITED (REGISTERED NUMBER: 01440238)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 43,620 37,510 81,130
Additions - 291 291
At 31 March 2023 43,620 37,801 81,421
DEPRECIATION
At 1 April 2022 17,903 37,027 54,930
Charge for year 6,429 580 7,009
At 31 March 2023 24,332 37,607 61,939
NET BOOK VALUE
At 31 March 2023 19,288 194 19,482
At 31 March 2022 25,717 483 26,200


5. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 April 2022
and 31 March 2023 50
NET BOOK VALUE
At 31 March 2023 50
At 31 March 2022 50

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 516,672 12,076
Other debtors 351,156 298,361
VAT - 9,169
Prepayments and accrued income 4,087 1,113
871,915 320,719

JOSEPH COLMAN & SON LIMITED (REGISTERED NUMBER: 01440238)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,625
Trade creditors 2,208 17,630
Amounts owed to participating interests 250,902 296,983
Tax 22,300 6,025
Social security and other taxes 434 4,579
VAT 15,282 -
Accruals and deferred income 5,020 4,850
306,146 340,692

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 15,833 30,000
25,833 40,000

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 3,526 6,015
Deferred tax - 290
3,526 6,305

Deferred
tax
£   
Balance at 1 April 2022 6,305
Utilised during year (2,779 )
Balance at 31 March 2023 3,526

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
6,700 Ordinary £1.00 6,700 6,700

JOSEPH COLMAN & SON LIMITED (REGISTERED NUMBER: 01440238)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


11. RELATED PARTY DISCLOSURES

Included in amounts owed to participating interests is a loan of £250,902 (2021 - £296,983) owed to Coast Homes (Bristol) Limited. The loan is interest free and has no set date of repayment.