Colebrid Plant Limited 01422237 false 2022-05-01 2023-04-29 2023-04-29 The principal activity of the company is the enting and leasing of construction and civil engineering machinery and equipment. Digita Accounts Production Advanced 6.30.9574.0 true 01422237 2022-05-01 2023-04-29 01422237 2023-04-29 01422237 core:CapitalRedemptionReserve 2023-04-29 01422237 core:RetainedEarningsAccumulatedLosses 2023-04-29 01422237 core:ShareCapital 2023-04-29 01422237 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-04-29 01422237 core:CurrentFinancialInstruments 2023-04-29 01422237 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-29 01422237 core:FurnitureFittingsToolsEquipment 2023-04-29 01422237 core:LandBuildings 2023-04-29 01422237 core:MotorVehicles 2023-04-29 01422237 bus:SmallEntities 2022-05-01 2023-04-29 01422237 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-29 01422237 bus:FullAccounts 2022-05-01 2023-04-29 01422237 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-29 01422237 bus:RegisteredOffice 2022-05-01 2023-04-29 01422237 bus:Director1 2022-05-01 2023-04-29 01422237 bus:Director2 2022-05-01 2023-04-29 01422237 bus:Director3 2022-05-01 2023-04-29 01422237 bus:Director4 2022-05-01 2023-04-29 01422237 bus:Director5 2022-05-01 2023-04-29 01422237 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-29 01422237 bus:Agent1 2022-05-01 2023-04-29 01422237 core:FurnitureFittingsToolsEquipment 2022-05-01 2023-04-29 01422237 core:LandBuildings 2022-05-01 2023-04-29 01422237 core:MotorVehicles 2022-05-01 2023-04-29 01422237 core:OfficeEquipment 2022-05-01 2023-04-29 01422237 core:PlantMachinery 2022-05-01 2023-04-29 01422237 core:ParentEntities 2022-05-01 2023-04-29 01422237 countries:UnitedKingdom 2022-05-01 2023-04-29 01422237 2022-04-30 01422237 core:FurnitureFittingsToolsEquipment 2022-04-30 01422237 core:LandBuildings 2022-04-30 01422237 core:MotorVehicles 2022-04-30 01422237 2021-05-01 2022-04-30 01422237 2022-04-30 01422237 core:CapitalRedemptionReserve 2022-04-30 01422237 core:RetainedEarningsAccumulatedLosses 2022-04-30 01422237 core:ShareCapital 2022-04-30 01422237 core:CurrentFinancialInstruments 2022-04-30 01422237 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 01422237 core:FurnitureFittingsToolsEquipment 2022-04-30 01422237 core:LandBuildings 2022-04-30 01422237 core:MotorVehicles 2022-04-30 iso4217:GBP xbrli:pure

Registration number: 01422237

Colebrid Plant Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 May 2022 to 29 April 2023

 

Colebrid Plant Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Colebrid Plant Limited

Company Information

Directors

Mr M L Popham

Mr M A Popham

Mr C H Popham

Mrs M Popham

Mr P H Popham

Registered office

Abergarw Service Station
New Road
Brynmenyn
Bridgend
Mid Glamorgan
CF32 9LL

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Colebrid Plant Limited
for the Period Ended 29 April 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Colebrid Plant Limited for the period ended 29 April 2023 as set out on pages 3 to 9 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that Colebrid Plant Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Colebrid Plant Limited. You consider that Colebrid Plant Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Colebrid Plant 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 accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

26 July 2024

 

Colebrid Plant Limited

(Registration number: 01422237)
Balance Sheet as at 29 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

87,499

92,815

Other financial assets

5

11,240

10,752

 

98,739

103,567

Current assets

 

Stocks

6

4,179

6,163

Debtors

7

75,738

54,792

Cash at bank and in hand

 

372,145

406,077

 

452,062

467,032

Creditors: Amounts falling due within one year

8

(90,088)

(20,519)

Net current assets

 

361,974

446,513

Total assets less current liabilities

 

460,713

550,080

Provisions for liabilities

(11,660)

-

Net assets

 

449,053

550,080

Capital and reserves

 

Called up share capital

100

100

Capital redemption reserve

50

50

Retained earnings

448,903

549,930

Shareholders' funds

 

449,053

550,080

For the financial period ending 29 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 26 July 2024 and signed on its behalf by:
 

.........................................
Mr M L Popham
Director

 

Colebrid Plant Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 29 April 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Abergarw Service Station
New Road
Brynmenyn
Bridgend
Mid Glamorgan
CF32 9LL

These financial statements were authorised for issue by the Board on 26 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Colebrid Plant Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 29 April 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles - Trailers

10% - Straight line

Office equipment

25% - Straight line

Plant and machinery

10% - Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Colebrid Plant Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 29 April 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period was 8 (2022 - 6).

 

Colebrid Plant Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 29 April 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

13,493

520,073

129,684

663,250

Additions

-

16,833

-

16,833

Disposals

-

(11,770)

-

(11,770)

At 29 April 2023

13,493

525,136

129,684

668,313

Depreciation

At 1 May 2022

13,493

447,449

109,493

570,435

Charge for the period

-

19,332

2,817

22,149

Eliminated on disposal

-

(11,770)

-

(11,770)

At 29 April 2023

13,493

455,011

112,310

580,814

Carrying amount

At 29 April 2023

-

70,125

17,374

87,499

At 30 April 2022

-

72,624

20,191

92,815

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of short leasehold land and buildings.
 

 

Colebrid Plant Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 29 April 2023

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 May 2022

10,572

10,572

Additions

668

668

At 29 April 2023

11,240

11,240

Impairment

Carrying amount

At 29 April 2023

11,240

11,240

6

Stocks

2023
£

2022
£

Raw materials and consumables

3,724

3,896

Finished goods and goods for resale

455

2,267

4,179

6,163

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

65,479

34,041

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

-

10,970

Prepayments

 

1,333

975

Other debtors

 

8,926

8,806

 

75,738

54,792

 

Colebrid Plant Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 29 April 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

37,742

12,451

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

43,244

-

Taxation and social security

 

7,779

7,014

Accruals and deferred income

 

1,312

1,043

Other creditors

 

11

11

 

90,088

20,519

9

Related party transactions

Summary of transactions with parent

Popham (Holdings) Limited
 
Popham (Holdings) Limited advanced loan facilities of £43,244 to Colebrid Plant Limited (2022 - £10,970 received loan facilities from Colebrid Plant Limited). The loan is unsecured and there are no fixed terms for repayment.

Colebrid Plant Limited paid a dividend of £68,000 during the year to Popham (Holdings) Limited.