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REGISTERED NUMBER: 10624605 (England and Wales)











Financial Statements

for the Year Ended 30 November 2023

for

Colne Valley Mechanical Limited

Colne Valley Mechanical Limited (Registered number: 10624605)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Colne Valley Mechanical Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: K T Barber
P S French





REGISTERED OFFICE: 5 Grange Way
Colchester
Essex
CO2 8HG





REGISTERED NUMBER: 10624605 (England and Wales)





AUDITORS: Knights Lowe Limited
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Colne Valley Mechanical Limited (Registered number: 10624605)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 100,803 75,913

CURRENT ASSETS
Debtors 5 5,590,980 3,776,161
Cash at bank 1,053,116 354,678
6,644,096 4,130,839
CREDITORS
Amounts falling due within one year 6 5,892,015 3,674,503
NET CURRENT ASSETS 752,081 456,336
TOTAL ASSETS LESS CURRENT LIABILITIES 852,884 532,249

PROVISIONS FOR LIABILITIES 7 25,201 18,978
NET ASSETS 827,683 513,271

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 827,583 513,171
SHAREHOLDERS' FUNDS 827,683 513,271

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





K T Barber - Director


Colne Valley Mechanical Limited (Registered number: 10624605)

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

1. STATUTORY INFORMATION

Colne Valley Mechanical 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.

Significant judgements
In preparing these financial statements the directors have made the following significant judgements and estimates:-

Amounts recoverable on contracts
In determining the carrying value of amounts recoverable on contracts, the directors regularly review each contract using their experience and detailed contract data in order to determine whether any amounts are considered irrecoverable. Such amounts are written off as identified.

Turnover
Turnover represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration. Services which have been measured yet not invoiced at the Statement of Financial Position date are included as amounts recoverable on contracts. Contract amounts considered irrecoverable are written off as identified.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 4 years straight line
Computer equipment - 4 years straight line

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.


Colne Valley Mechanical Limited (Registered number: 10624605)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 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 23 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 4,085 107,624 4,109 115,818
Additions - 54,220 1,900 56,120
At 30 November 2023 4,085 161,844 6,009 171,938
DEPRECIATION
At 1 December 2022 1,787 37,354 764 39,905
Charge for year 574 29,459 1,197 31,230
At 30 November 2023 2,361 66,813 1,961 71,135
NET BOOK VALUE
At 30 November 2023 1,724 95,031 4,048 100,803
At 30 November 2022 2,298 70,270 3,345 75,913

Colne Valley Mechanical Limited (Registered number: 10624605)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,986,117 1,712,023
Amounts recoverable on
contracts 2,938,138 1,570,060
Other debtors 666,725 494,078
5,590,980 3,776,161

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,457,740 2,040,421
Amounts owed to group undertakings 2,779,241 1,098,039
Taxation and social security 223,901 184,732
Other creditors 431,133 351,311
5,892,015 3,674,503

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 25,201 18,978

Deferred
tax
£   
Balance at 1 December 2022 18,978
Charge to Statement of Income and Retained Earnings during year 6,223
Balance at 30 November 2023 25,201

The deferred tax provision has been calculated using a Corporation Tax rate of 25%, this being the rate effective from 1 April 2023 and after which date the timing differences are expected to reverse.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

Colne Valley Mechanical Limited (Registered number: 10624605)

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

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion
Amounts recoverable on contracts include £442,403 (2022 - £664,980) relating to committed on-site materials which were not part of the measured contract valuations at 30 November 2023 or 30 November 2022 respectively. Owing to the nature of the company's records, we were unable to obtain sufficient appropriate audit evidence regarding the quantities of these materials. Consequently, we were unable to determine whether any adjustments to these amounts were necessary.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Michael Mortimer FCA FCCA (Senior Statutory Auditor)
for and on behalf of Knights Lowe Limited

10. RELATED PARTY DISCLOSURES

Included within other creditors at the statement of financial position date is a balance of £179,158 (2022: £179,158) owed to a director. This balance is interest free and repayable on demand.

Included within creditors due within one year are amounts owed to fellow group companies totalling £2,779,241 (2022: £1,098,039). These loans are interest free and repayable on demand.

The company's parent, Colne Valley Electrical Limited, provides management services to the company. Management charges paid by the company to Colne Valley Electrical Limited totalled £nil (2022: £44,506). In addition, in recognition of the benefits provided by the company to the group, Colne Valley Electrical Limited also covers certain overheads which are not recharged.

11. CONTROLLING PARTY

The controlling party is Colne Valley Electrical Limited whose registered office is at 5 Grange Way, Colchester, Essex, CO2 8HG.