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Registered number: 02659160
Collate Business Systems Ltd.
Unaudited Financial Statements
For The Year Ended 31 August 2023
Frost & Company
Chartered Accountants
Unit C, Regent House
9 Crown Square
Dorchester
Dorset
DT1 3DY
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 02659160
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 506,472 510,107
Investments 5 94,665 156,075
601,137 666,182
CURRENT ASSETS
Stocks 6 73,568 70,900
Debtors 7 181,661 191,203
Cash at bank and in hand 242,670 171,465
497,899 433,568
Creditors: Amounts Falling Due Within One Year 8 (296,174 ) (243,720 )
NET CURRENT ASSETS (LIABILITIES) 201,725 189,848
TOTAL ASSETS LESS CURRENT LIABILITIES 802,862 856,030
Creditors: Amounts Falling Due After More Than One Year 9 (142,554 ) (187,216 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (12,617 ) (14,382 )
NET ASSETS 647,691 654,432
CAPITAL AND RESERVES
Called up share capital 11 4,020 4,020
Revaluation reserve 12 38,163 38,083
Profit and Loss Account 605,508 612,329
SHAREHOLDERS' FUNDS 647,691 654,432
Page 1
Page 2
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C Merecki
Director
15/04/2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Collate Business Systems Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 02659160 . The registered office is Unit 9 Kingsfisher Park Headlands Business Park, Blashford, Ringwood, Hampshire, BH24 3NX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Market value
Property improvements 0
Office equipment 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 30% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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Page 4
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2022: 11)
14 11
4. Tangible Assets
Land & Property
Freehold Property improvements Office equipment Motor Vehicles
£ £ £ £
Cost
As at 1 September 2022 430,000 4,135 4,407 108,824
Additions - - 996 -
Disposals - - (1,659 ) -
As at 31 August 2023 430,000 4,135 3,744 108,824
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 September 2022 - - 2,588 73,335
Provided during the period - - 413 8,872
Disposals - - (908 ) -
As at 31 August 2023 - - 2,093 82,207
Net Book Value
As at 31 August 2023 430,000 4,135 1,651 26,617
As at 1 September 2022 430,000 4,135 1,819 35,489
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2022 47,103 26,436 620,905
Additions 11,818 4,711 17,525
Disposals - (4,776 ) (6,435 )
As at 31 August 2023 58,921 26,371 631,995
Depreciation
As at 1 September 2022 16,764 18,111 110,798
Provided during the period 6,324 3,530 19,139
Disposals - (3,506 ) (4,414 )
As at 31 August 2023 23,088 18,135 125,523
Net Book Value
As at 31 August 2023 35,833 8,236 506,472
As at 1 September 2022 30,339 8,325 510,107
5. Investments
Associates Listed Total
£ £ £
Cost
As at 1 September 2022 94,665 61,490 156,155
Additions - 41,446 41,446
Disposals - (102,856 ) (102,856 )
As at 31 August 2023 94,665 80 94,745
Provision
As at 1 September 2022 - 80 80
As at 31 August 2023 - 80 80
...CONTINUED
Page 5
Page 6
Net Book Value
As at 31 August 2023 94,665 - 94,665
As at 1 September 2022 94,665 61,410 156,075
6. Stocks
2023 2022
£ £
Stock 73,568 70,900
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 140,834 152,794
Prepayments and accrued income 9,445 10,005
Other debtors 31,382 28,404
181,661 191,203
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 10,828 10,551
Trade creditors 141,204 84,913
Bank loans and overdrafts 31,506 28,242
Corporation tax 46,332 47,262
Other taxes and social security 6,768 6,776
VAT 36,835 27,311
Other creditors 5,695 7,304
Accruals and deferred income 15,751 29,432
Directors' loan accounts 1,255 1,929
296,174 243,720
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 467 12,067
Bank loans 142,087 175,149
142,554 187,216
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10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,828 10,551
Later than one year and not later than five years 467 12,067
11,295 22,618
11,295 22,618
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 4,020 4,020
12. Reserves
Revaluation Reserve
£
As at 1 September 2022 38,083
Surplus on revaluation 80
As at 31 August 2023 38,163
Page 7