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 |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
50 | 50 |
- | - |
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: |
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 |
( |
) |
(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 |
Investments | 9 |
Investment property | 10 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 12 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
13 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 15 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
Company's (loss)/profit for the financial year | (320,046 | ) | 30,952 |
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 were approved by the Board of Directors and authorised for issue on |
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 | ( |
) | ( |
) |
Changes in equity |
Total comprehensive income | - |
Balance at 30th June 2022 | ( |
) | ( |
) |
Changes in equity |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 30th June 2023 | ( |
) | ( |
) |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
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 |
DEPRECIATION |
At 1st July 2022 |
Charge for year |
At 30th June 2023 |
NET BOOK VALUE |
At 30th June 2023 |
At 30th June 2022 |
9. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertaking |
£ |
COST |
At 1st July 2022 |
and 30th June 2023 |
NET BOOK VALUE |
At 30th June 2023 |
At 30th June 2022 |
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 |
NET BOOK VALUE |
At 30th June 2023 |
At 30th June 2022 |
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 | - |
Amounts owed by group undertakings | - | - |
Other debtors | 111,519 | 74,502 |
VAT | 4,190 | - |
126,424 | 74,502 |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Trade creditors | 19,104 | 13,399 |
VAT | - | 5,586 | - | 5,586 |
Directors' current accounts | 865 | - | 865 | - |
Accrued expenses | 17,398 | 18,345 |
37,367 | 37,330 |
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 |
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 |
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: | £ | £ |
Ordinary A | £1 |
Ordinary B | £1 |
100 | 100 |
16. | RESERVES |
Group |
Revaluation |
reserve |
£ |
At 1st July 2022 |
and 30th June 2023 | 3,054,516 |