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REGISTERED NUMBER: 09520270 (England and Wales)














Report of the Directors and

Unaudited

Consolidated Financial Statements

for the Year Ended 30th June 2023

for

Colpin Limited

Colpin Limited (Registered number: 09520270)






Contents of the Consolidated Financial Statements
for the year ended 30th June 2023




Page

Company Information 1

Report of the Directors 2

Consolidated Income Statement 3

Consolidated Other Comprehensive Income 4

Consolidated Balance Sheet 5

Company Balance Sheet 7

Consolidated Statement of Changes in Equity 9

Company Statement of Changes in Equity 10

Notes to the Consolidated Financial Statements 11


Colpin Limited

Company Information
for the year ended 30th June 2023







DIRECTORS: J C Coleman
R D Harpin



REGISTERED OFFICE: Essex House
Manor Street
Hull
East Yorkshire
HU1 1YU



REGISTERED NUMBER: 09520270 (England and Wales)



ACCOUNTANTS: Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX



BANKERS: Barclays Bank PLC
Market Place
Town Centre
Leicester
Leicestershire
LE87 2BB

Colpin Limited (Registered number: 09520270)

Report of the Directors
for the year ended 30th June 2023

The directors present their report with the financial statements of the company and the group for the year ended 30th June 2023.

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1st July 2022 to the date of this report.

The beneficial interests of the directors holding office at 30th June 2023 in the shares of the company, according to the register of directors' interests, were as follows:

30.6.23 1.7.22
Ordinary B shares of £1 each
J C Coleman 50 50
R D Harpin - -
These directors did not hold any beneficial interests in the Ordinary A shares of £1 each.

These directors did not hold any non-beneficial interests in any of the shares of the company.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





J C Coleman - Director


8th February 2024

Colpin Limited (Registered number: 09520270)

Consolidated
Income Statement
for the year ended 30th June 2023

2023 2022
Notes £    £   

TURNOVER 582,221 674,466

Cost of sales 321,391 388,638
GROSS PROFIT 260,830 285,828

Administrative expenses 55,942 (334,379 )
OPERATING PROFIT 4 204,888 620,207

Interest receivable and similar income 293 269
205,181 620,476

Interest payable and similar expenses 311,238 345,064
(LOSS)/PROFIT BEFORE TAXATION (106,057 ) 275,412

Tax on (loss)/profit 6 - -
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(106,057

)

275,412
(Loss)/profit attributable to:
Owners of the parent (106,057 ) 275,412

Colpin Limited (Registered number: 09520270)

Consolidated
Other Comprehensive Income
for the year ended 30th June 2023

2023 2022
Notes £    £   

(LOSS)/PROFIT FOR THE YEAR (106,057 ) 275,412


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(106,057

)

275,412

Total comprehensive income attributable to:
Owners of the parent (106,057 ) 275,412

Colpin Limited (Registered number: 09520270)

Consolidated Balance Sheet
30th June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 30,582 38,392
Investments 9 - -
Investment property 10 8,450,000 8,450,000
8,480,582 8,488,392

CURRENT ASSETS
Debtors 11 126,424 74,502
Cash at bank and in hand 154,060 304,192
280,484 378,694
CREDITORS
Amounts falling due within one year 12 37,367 37,330
NET CURRENT ASSETS 243,117 341,364
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,723,699

8,829,756

CREDITORS
Amounts falling due after more than one
year

13

(5,937,750

)

(5,937,750

)

PROVISIONS FOR LIABILITIES (580,357 ) (580,357 )
NET ASSETS 2,205,592 2,311,649

CAPITAL AND RESERVES
Called up share capital 15 200 200
Revaluation reserve 16 3,054,516 3,054,516
Retained earnings (849,124 ) (743,067 )
SHAREHOLDERS' FUNDS 2,205,592 2,311,649

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a) ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

Colpin Limited (Registered number: 09520270)

Consolidated Balance Sheet - continued
30th June 2023


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

The financial statements were approved by the Board of Directors and authorised for issue on 8th February 2024 and were signed on its behalf by:





J C Coleman - Director


Colpin Limited (Registered number: 09520270)

Company Balance Sheet
30th June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 30,084 37,605
Investments 9 100 100
Investment property 10 2,250,000 2,250,000
2,280,184 2,287,705

CURRENT ASSETS
Debtors 11 1,964,443 2,168,661
Cash at bank 2,209 114,675
1,966,652 2,283,336
CREDITORS
Amounts falling due within one year 12 9,907 14,066
NET CURRENT ASSETS 1,956,745 2,269,270
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,236,929

4,556,975

CREDITORS
Amounts falling due after more than one
year

13

5,937,750

5,937,750
NET LIABILITIES (1,700,821 ) (1,380,775 )

CAPITAL AND RESERVES
Called up share capital 15 100 100
Retained earnings (1,700,921 ) (1,380,875 )
SHAREHOLDERS' FUNDS (1,700,821 ) (1,380,775 )

Company's (loss)/profit for the financial year (320,046 ) 30,952

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

Colpin Limited (Registered number: 09520270)

Company Balance Sheet - continued
30th June 2023


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

The financial statements were approved by the Board of Directors and authorised for issue on 8th February 2024 and were signed on its behalf by:





J C Coleman - Director


Colpin Limited (Registered number: 09520270)

Consolidated Statement of Changes in Equity
for the year ended 30th June 2023

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1st July 2021 100 (1,018,479 ) 3,054,516 2,036,137

Changes in equity
Issue of share capital 100 - - 100
Total comprehensive income - 275,412 - 275,412
Balance at 30th June 2022 200 (743,067 ) 3,054,516 2,311,649

Changes in equity
Total comprehensive income - (106,057 ) - (106,057 )
Balance at 30th June 2023 200 (849,124 ) 3,054,516 2,205,592

Colpin Limited (Registered number: 09520270)

Company Statement of Changes in Equity
for the year ended 30th June 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st July 2021 100 (1,411,827 ) (1,411,727 )

Changes in equity
Total comprehensive income - 30,952 30,952
Balance at 30th June 2022 100 (1,380,875 ) (1,380,775 )

Changes in equity
Total comprehensive income - (320,046 ) (320,046 )
Balance at 30th June 2023 100 (1,700,921 ) (1,700,821 )

Colpin Limited (Registered number: 09520270)

Notes to the Consolidated Financial Statements
for the year ended 30th June 2023

1. STATUTORY INFORMATION

Colpin 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 General 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 33% on cost, 20% on reducing balance, 20% on cost and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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 group operates a defined contribution pension scheme. Contributions payable to the group'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 5 (2022 - 2 ) .

Colpin Limited (Registered number: 09520270)

Notes to the Consolidated Financial Statements - continued
for the year ended 30th June 2023

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees by undertakings that were proportionately consolidated during the year was 2 (2022 - 2 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 7,810 9,691

5. EXCEPTIONAL ITEMS
2023 2022
£    £   
Exceptional items - 446,936

6. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 30th June 2023 nor for the year ended 30th June 2022.

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. TANGIBLE FIXED ASSETS

Group
Plant and
machinery
etc
£   
COST
At 1st July 2022
and 30th June 2023 93,210
DEPRECIATION
At 1st July 2022 54,818
Charge for year 7,810
At 30th June 2023 62,628
NET BOOK VALUE
At 30th June 2023 30,582
At 30th June 2022 38,392

Colpin Limited (Registered number: 09520270)

Notes to the Consolidated Financial Statements - continued
for the year ended 30th June 2023

8. TANGIBLE FIXED ASSETS - continued

Company
Plant and
machinery
etc
£   
COST
At 1st July 2022
and 30th June 2023 91,762
DEPRECIATION
At 1st July 2022 54,157
Charge for year 7,521
At 30th June 2023 61,678
NET BOOK VALUE
At 30th June 2023 30,084
At 30th June 2022 37,605

9. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertaking
£   
COST
At 1st July 2022
and 30th June 2023 100
NET BOOK VALUE
At 30th June 2023 100
At 30th June 2022 100


10. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1st July 2022
and 30th June 2023 8,450,000
NET BOOK VALUE
At 30th June 2023 8,450,000
At 30th June 2022 8,450,000

Colpin Limited (Registered number: 09520270)

Notes to the Consolidated Financial Statements - continued
for the year ended 30th June 2023

10. INVESTMENT PROPERTY - continued

Group

Fair value at 30th June 2023 is represented by:
£   
Valuation in 2019 2,466,660
Cost 5,983,340
8,450,000

Company
Total
£   
FAIR VALUE
At 1st July 2022
and 30th June 2023 2,250,000
NET BOOK VALUE
At 30th June 2023 2,250,000
At 30th June 2022 2,250,000

Fair value at 30th June 2023 is represented by:
£   
Valuation in 2019 (587,855 )
Cost 2,837,855
2,250,000

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 10,715 - 5,660 -
Amounts owed by group undertakings - - 1,882,859 2,097,039
Other debtors 111,519 74,502 71,734 71,622
VAT 4,190 - 4,190 -
126,424 74,502 1,964,443 2,168,661

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade creditors 19,104 13,399 6,792 3,630
VAT - 5,586 - 5,586
Directors' current accounts 865 - 865 -
Accrued expenses 17,398 18,345 2,250 4,850
37,367 37,330 9,907 14,066

Colpin Limited (Registered number: 09520270)

Notes to the Consolidated Financial Statements - continued
for the year ended 30th June 2023

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans more 5 yrs non-inst 5,937,750 5,937,750 5,937,750 5,937,750

Amounts falling due in more than five years:

Group Company
2023 2022 2023 2022
£    £    £    £   
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 5,937,750 5,937,750 5,937,750 5,937,750

14. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans 5,937,750 5,937,750 5,937,750 5,937,750

The above debts are secured by way of a fixed and floating charge over the company's assets.

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

16. RESERVES

Group
Revaluation
reserve
£   
At 1st July 2022
and 30th June 2023 3,054,516