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REGISTERED NUMBER: 01476873 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

JW Colpitts & Co Limited

JW Colpitts & Co Limited (Registered number: 01476873)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


JW Colpitts & Co Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: W Emery
P Sharma
G Short





REGISTERED OFFICE: John Anderson House
Coniston Road
Blyth Riverside Business Park
Blyth
Northumberland
NE24 4RF





REGISTERED NUMBER: 01476873 (England and Wales)





ACCOUNTANTS: Peter Weldon & Co. Ltd
87 Station Road
Ashington
Northumberland
NE63 8RS

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
JW Colpitts & Co Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JW Colpitts & Co Limited for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of JW Colpitts & Co Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JW Colpitts & Co Limited and state those matters that we have agreed to state to the Board of Directors of JW Colpitts & Co Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JW Colpitts & Co Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that JW Colpitts & Co Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JW Colpitts & Co Limited. You consider that JW Colpitts & Co Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JW Colpitts & Co Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Peter Weldon & Co. Ltd
87 Station Road
Ashington
Northumberland
NE63 8RS


Date: .............................................

JW Colpitts & Co Limited (Registered number: 01476873)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 593,000 642,263
593,000 642,263

CURRENT ASSETS
Stocks 6,068 97,623
Debtors 6 451,098 527,334
Cash at bank and in hand 149,395 80,182
606,561 705,139
CREDITORS
Amounts falling due within one year 7 343,611 475,109
NET CURRENT ASSETS 262,950 230,030
TOTAL ASSETS LESS CURRENT
LIABILITIES

855,950

872,293

CREDITORS
Amounts falling due after more than one
year

8

(99,678

)

(101,925

)

PROVISIONS FOR LIABILITIES (37,201 ) (31,798 )
NET ASSETS 719,071 738,570

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 9,900 9,900
Retained earnings 708,971 728,470
SHAREHOLDERS' FUNDS 719,071 738,570

JW Colpitts & Co Limited (Registered number: 01476873)

Balance Sheet - continued
30 June 2023


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

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

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 20 March 2024 and were signed on its behalf by:





P Sharma - Director


JW Colpitts & Co Limited (Registered number: 01476873)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

JW Colpitts & Co 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.

The financial statements are prepared in sterling, which is the functional currency of the entity and are rounded to the nearest pound.

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

Turnover from construction and fabrication projects is measured by reference to the stage of completion of the project at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recovered.

Goodwill
The cost of goodwill has been amortised in full.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Straight line over 50 years
Plant and machinery etc - 20% on cost per annum and 10% on cost per annum

Tangible assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stocks
Stock and work in progress is valued at the lower of cost and net realisable value.

Cost includes all costs of purchases and other costs incurred in bringing the stock to its present condition.


JW Colpitts & Co Limited (Registered number: 01476873)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently amortised cost, net of impairment.

Trade and other creditors
Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised costs using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 37 ) .

JW Colpitts & Co Limited (Registered number: 01476873)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 6,000
AMORTISATION
At 1 July 2022
and 30 June 2023 6,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2022 454,978 1,090,329 1,545,307
Additions - 23,826 23,826
At 30 June 2023 454,978 1,114,155 1,569,133
DEPRECIATION
At 1 July 2022 103,679 799,365 903,044
Charge for year 7,995 65,094 73,089
At 30 June 2023 111,674 864,459 976,133
NET BOOK VALUE
At 30 June 2023 343,304 249,696 593,000
At 30 June 2022 351,299 290,964 642,263

JW Colpitts & Co Limited (Registered number: 01476873)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 432,026 483,400
Amounts owed by associates 5,300 27,140
Other debtors 13,772 16,794
451,098 527,334

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,512 7,512
Hire purchase contracts 7,957 4,743
Trade creditors 148,849 322,049
Taxation and social security 70,667 68,979
Other creditors 108,626 71,826
343,611 475,109

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 88,822 95,950
Hire purchase contracts 10,856 5,975
99,678 101,925

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 96,334 103,462
Hire purchase contracts 18,813 10,718
115,147 114,180

The bank loan is secured on the company's freehold property.

The finance leases are secured on the assets concerned.