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REGISTERED NUMBER: SC280934 (Scotland)















COLIN PRIOR LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






COLIN PRIOR LIMITED (REGISTERED NUMBER: SC280934)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COLIN PRIOR LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTORS: Ms G Prior
C C Prior





SECRETARY: Ms G Prior





REGISTERED OFFICE: 4 Princes Gate
Bothwell
Glasgow
G71 8SP





REGISTERED NUMBER: SC280934 (Scotland)





ACCOUNTANTS: Benham Conway & Co
16 Royal Crescent
Glasgow
G3 7SL

COLIN PRIOR LIMITED (REGISTERED NUMBER: SC280934)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 83,300 94,400
Tangible assets 5 14,028 23,036
97,328 117,436

CURRENT ASSETS
Stocks 600 800
Debtors 6 8,441 27,700
Cash at bank 66,971 71,890
76,012 100,390
CREDITORS
Amounts falling due within one year 7 81,614 90,190
NET CURRENT (LIABILITIES)/ASSETS (5,602 ) 10,200
TOTAL ASSETS LESS CURRENT
LIABILITIES

91,726

127,636

CREDITORS
Amounts falling due after more than one
year

8

(31,919

)

(37,274

)

ACCRUALS AND DEFERRED INCOME (10,594 ) (14,125 )
NET ASSETS 49,213 76,237

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 49,113 76,137
SHAREHOLDERS' FUNDS 49,213 76,237

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

COLIN PRIOR LIMITED (REGISTERED NUMBER: SC280934)

BALANCE SHEET - continued
31 December 2023


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 2 August 2024 and were signed on its behalf by:




C C Prior - Director



Ms G Prior - Director


COLIN PRIOR LIMITED (REGISTERED NUMBER: SC280934)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023


1. STATUTORY INFORMATION

Colin Prior Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents goods and services provided in the year, excluding value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation. Amortisation is provided to write off the initial cost less residual value over 5 and 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 10% on cost

Government grants
Government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the asset to which they relate or twenty years, whichever is shorter. Government grants in respect of revenue expenditure are credited to the profit and loss account in the year to which they relate.

Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments, including trade and other payables, bank loans and other loans that are classified as debt, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
Taxation for the year comprises current 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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company'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 2 (2022 - 4 ) .

COLIN PRIOR LIMITED (REGISTERED NUMBER: SC280934)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


4. INTANGIBLE ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 143,000
AMORTISATION
At 1 January 2023 48,600
Charge for year 11,100
At 31 December 2023 59,700
NET BOOK VALUE
At 31 December 2023 83,300
At 31 December 2022 94,400

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 39,078
Additions 6,344
Disposals (15,567 )
At 31 December 2023 29,855
DEPRECIATION
At 1 January 2023 16,042
Charge for year 3,215
Eliminated on disposal (3,430 )
At 31 December 2023 15,827
NET BOOK VALUE
At 31 December 2023 14,028
At 31 December 2022 23,036

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 8,024 18,598
Other debtors 264 8,739
Tax recoverable 153 363
8,441 27,700

COLIN PRIOR LIMITED (REGISTERED NUMBER: SC280934)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 5,355 5,226
Trade creditors 3,322 7,797
Taxation and social security 16,773 18,470
Other creditors 56,164 58,697
81,614 90,190

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 31,919 37,274

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 9,136 15,043

9. RELATED PARTY DISCLOSURES

At 31 December 2023 the company's directors had provided the company with an interest free loan of £27,893 (2022, £22,724), which is included in other creditors. There are no fixed repayment terms for this loan.