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REGISTERED NUMBER: 01149909 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2023

for

P. Colohan & Co. Limited

P. Colohan & Co. Limited (Registered number: 01149909)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 16


P. Colohan & Co. Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs M M Colohan
D W Colohan
P Caulfield
E McNulty
Mrs R Farr





REGISTERED OFFICE: 238 Station Road
Addlestone
Surrey
KT15 2PS





REGISTERED NUMBER: 01149909 (England and Wales)





AUDITORS: CSL Partnership Limited
Chartered Certified Accountants
Statutory Auditors
238 Station Road
Addlestone
Surrey
KT15 2PS

P. Colohan & Co. Limited (Registered number: 01149909)

Strategic Report
for the Year Ended 31 December 2023


The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
The company has seen turnover increase in the year against which cost of sales have also increased. In turn, this has led to a slight increase in pre-tax profit compared to last year. Despite ongoing challenges in relation to inflation, interest rates and some supply chain issues, the directors are confident that the company will remain profitable for the foreseeable future.

The year's results can be summarised as follows:

31.12.23 31.12.22

Turnover 17,912,585 15,178,946
Profit/(loss) on ordinary activities before tax 552,348 431,922
Tax 139,716 91,373
Retained profit/(loss) 412,632 340,549
Shareholder's funds 9,447,096 9,422,464

The directors are confident that the company will continue to win contracts that fit their business model.

There have been no events since the balance sheet date which materially affect the position of the company.

PRINCIPAL RISKS AND UNCERTAINTIES
Financial risk management

The company's operations expose it to a variety of financial risks. The company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the company by monitoring levels of finance and related finance costs. The company does not use derivative financial instruments to manage interest rate costs and as such, no hedge accounting is applied.

Given the size of the company, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board. The policies set by the board of directors are implemented by the company's finance department. The company has significant cash reserves which are considered more than adequate to fund future work in progress.

Turnover risk

The company's turnover is reliant on it regularly being awarded new contracts by its customers. The company fosters good relationships with current and potential customers and ensures it performs its work to the highest standard to give it the best opportunity of repeat business from existing contractors.

Labour supply risk

The company needs to engage high quality direct and subcontract labour in order to deliver its contracts to its customers. The company aims to pay market rate for such resource and encourage a good working environment to attract and retain labour.

Price risk

The company is exposed to supplier and labour price risk as a result of its operations, especially given current high interest and inflation rates. The board constantly reviews the price of raw materials and labour to ensure it remains competitive.

P. Colohan & Co. Limited (Registered number: 01149909)

Strategic Report
for the Year Ended 31 December 2023

Credit risk

The company has implemented policies that require appropriate credit checks on potential customers before services are provided.

Liquidity risk

The company considers that it has sufficient liquid funds available for operations and planned expansions.

Interest rate and cashflow risk

The company has interest bearing assets but no interest bearing liabilities. The company has a policy of monitoring interest returns on its interest bearing assets to estimate future interest cashflows. The directors will revisit the appropriateness of this policy should the company's operations change in size or nature.

ON BEHALF OF THE BOARD:





D W Colohan - Director


9 August 2024

P. Colohan & Co. Limited (Registered number: 01149909)

Report of the Directors
for the Year Ended 31 December 2023


The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of civil engineering and building contractor.

DIVIDENDS
An interim dividend of £4000 per share was paid on the B Ordinary £1 shares on 5 September 2023. No dividends were paid on the A Ordinary £1 shares.

The total distribution of dividends for the year ended 31 December 2023 will be £ 388,000 .

FUTURE DEVELOPMENTS
The company will continue to seek opportunities to maximise turnover and profitability. In doing so, it continues to seek suitable new premises for its operational base.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

Mrs M M Colohan
D W Colohan
P Caulfield
E McNulty
Mrs R Farr

Other changes in directors holding office are as follows:

P B Colohan - deceased 24 April 2023

POLITICAL DONATIONS AND EXPENDITURE
The company made no political donations in the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

P. Colohan & Co. Limited (Registered number: 01149909)

Report of the Directors
for the Year Ended 31 December 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, CSL Partnership Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D W Colohan - Director


9 August 2024

Report of the Independent Auditors to the Members of
P. Colohan & Co. Limited


Opinion
We have audited the financial statements of P. Colohan & Co. Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
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 opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
P. Colohan & Co. Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
P. Colohan & Co. Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objective of our audit, in respect of fraud was; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate procedures and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with those charged with governance of the entity and management.

Our approach was as follows:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are the buildings regulations and health and safety.

We understood how P Colohan & Co Ltd is complying with those frameworks by making enquiries of management and those responsible for legal and compliance matters. We also performed a review of regulatory correspondence, legal correspondence and minutes.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur by considering the controls that the company has established that seek to prevent, deter or detect fraud. We also considered performance and incentive plan targets and their potential to influence management.

Our tests included agreeing the financial statements disclosures to underlying supporting documentation and enquiries with management. We did not identify any key audit matters relating to irregularities, including fraud. As in all of our audits, we also addressed the risk of management override of internal controls including testing journals and evaluating whether there was evidence of bias by the board that represented a risk of material misstatement due to fraud.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

The Senior Statutory Auditor considered the experience and expertise of the engagement team to ensure that the team had the appropriate competence and capabilities.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
P. Colohan & Co. Limited





Andrew John Lane FCCA (Senior Statutory Auditor)
for and on behalf of CSL Partnership Limited
Chartered Certified Accountants
Statutory Auditors
238 Station Road
Addlestone
Surrey
KT15 2PS

9 August 2024

P. Colohan & Co. Limited (Registered number: 01149909)

Income Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

REVENUE 4 17,912,585 15,178,946

Cost of sales 15,051,516 13,491,831
GROSS PROFIT 2,861,069 1,687,115

Administrative expenses 2,384,860 1,288,083
476,209 399,032

Other operating income 9,029 15,137
OPERATING PROFIT 6 485,238 414,169

Interest receivable and similar income 67,110 17,753
PROFIT BEFORE TAXATION 552,348 431,922

Tax on profit 7 139,716 91,373
PROFIT FOR THE FINANCIAL YEAR 412,632 340,549

P. Colohan & Co. Limited (Registered number: 01149909)

Other Comprehensive Income
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

PROFIT FOR THE YEAR 412,632 340,549


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

412,632

340,549

P. Colohan & Co. Limited (Registered number: 01149909)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Property, plant and equipment 9 1,117,108 790,265
Investments 10 - -
1,117,108 790,265

CURRENT ASSETS
Inventories 11 18,643 18,113
Debtors 12 2,712,132 3,292,162
Cash at bank 7,237,616 6,750,173
9,968,391 10,060,448
CREDITORS
Amounts falling due within one year 13 (1,519,058 ) (1,392,566 )
NET CURRENT ASSETS 8,449,333 8,667,882
TOTAL ASSETS LESS CURRENT LIABILITIES 9,566,441 9,458,147

PROVISIONS FOR LIABILITIES 15 (119,345 ) (35,683 )
NET ASSETS 9,447,096 9,422,464

CAPITAL AND RESERVES
Called up share capital 16 200 200
Retained earnings 17 9,446,896 9,422,264
SHAREHOLDERS' FUNDS 9,447,096 9,422,464

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:





Mrs R Farr - Director


P. Colohan & Co. Limited (Registered number: 01149909)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 200 9,469,715 9,469,915

Changes in equity
Dividends - (388,000 ) (388,000 )
Total comprehensive income - 340,549 340,549
Balance at 31 December 2022 200 9,422,264 9,422,464

Changes in equity
Dividends - (388,000 ) (388,000 )
Total comprehensive income - 412,632 412,632
Balance at 31 December 2023 200 9,446,896 9,447,096

P. Colohan & Co. Limited (Registered number: 01149909)

Cash Flow Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,619,296 (290,031 )
Tax paid - (62,513 )
Net cash from operating activities 1,619,296 (352,544 )

Cash flows from investing activities
Purchase of tangible fixed assets (693,971 ) (119,190 )
Sale of tangible fixed assets 231,164 53,372
Interest received 67,110 17,753
Net cash from investing activities (395,697 ) (48,065 )

Cash flows from financing activities
Amount introduced by directors - 47,986
Directors loan account (348,156 ) -
Equity dividends paid (388,000 ) (388,000 )
Net cash from financing activities (736,156 ) (340,014 )

Increase/(decrease) in cash and cash equivalents 487,443 (740,623 )
Cash and cash equivalents at beginning
of year

2

6,750,173

7,490,796

Cash and cash equivalents at end of
year

2

7,237,616

6,750,173

P. Colohan & Co. Limited (Registered number: 01149909)

Notes to the Cash Flow Statement
for the Year Ended 31 December 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
31.12.23 31.12.22
£    £   
Profit before taxation 552,348 431,922
Depreciation charges 153,747 136,206
Profit on disposal of fixed assets (17,784 ) (31,172 )
Finance income (67,110 ) (17,753 )
621,201 519,203
Increase in inventories (530 ) (4,910 )
Decrease/(increase) in trade and other debtors 580,031 (470,822 )
Increase/(decrease) in trade and other creditors 418,594 (333,502 )
Cash generated from operations 1,619,296 (290,031 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 7,237,616 6,750,173
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 6,750,173 7,490,796


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 6,750,173 487,443 7,237,616
6,750,173 487,443 7,237,616
Total 6,750,173 487,443 7,237,616

P. Colohan & Co. Limited (Registered number: 01149909)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

P. Colohan & 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.

2. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about P. Colohan & Co. Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of discounts and value added tax. Where contractual obligations have been partially performed at the balance sheet date, revenue is recognised to the extent that the company has obtained the right to consideration through its performance.

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 - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

No depreciation is charged on the freehold properties, as they are considered to have residual values not less than their cost and hence have not depreciated in value. It is the intention of the company to maintain the properties through regular repairs and maintenance to such a standard that they will not depreciate in value.

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

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.


P. Colohan & Co. Limited (Registered number: 01149909)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. ACCOUNTING POLICIES - continued
Deferred taxation
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.

Pension costs and other post-retirement benefits
The costs of providing pensions for the company's employees are taken into account in arriving at the operating profit, in the year during which the company derives benefit from the employees' services.

Long term contracts
Long term contracts are assessed on a contract by contract basis and are reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. Where the outcome of each long term contract can be assessed with reasonable certainty before its conclusion, the attributable profit is recognised in the profit and loss account as the difference between the reported turnover and related costs for the contract.

Operating leases
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

4. REVENUE

The revenue and profit before taxation are attributable to the one principal activity of the company.

An analysis of revenue by class of business is given below:

31.12.23 31.12.22
£    £   
Rendering of services 17,912,585 15,178,946
17,912,585 15,178,946

5. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£    £   
Wages and salaries 1,032,588 845,286
Social security costs 128,567 111,553
Other pension costs 16,931 12,158
1,178,086 968,997

P. Colohan & Co. Limited (Registered number: 01149909)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
31.12.23 31.12.22

Directors 5 6
Office and administration 6 6
Construction 6 6
17 18

31.12.23 31.12.22
£    £   
Directors' remuneration 402,401 450,514

Information regarding the highest paid director is as follows:
31.12.23 31.12.22
£    £   
Emoluments etc 120,774 114,900

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.23 31.12.22
£    £   
Depreciation - owned assets 153,748 136,207
Profit on disposal of fixed assets (17,784 ) (31,172 )
Auditors' remuneration 27,434 26,705
Other non- audit services 1,500 1,500

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax 56,054 90,827

Deferred tax 83,662 546
Tax on profit 139,716 91,373

UK corporation tax has been charged at 23.47% (2022 - 19%).

P. Colohan & Co. Limited (Registered number: 01149909)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.23 31.12.22
£    £   
Profit before tax 552,348 431,922
Profit multiplied by the standard rate of corporation tax in the UK of
23.520% (2022 - 19%)

129,912

82,065

Effects of:
Expenses not deductible for tax purposes 5,015 2,712
Capital allowances in excess of depreciation (78,708 ) -
Super-deduction (47 ) (1,968 )
Change in tax rate - 8,564
Marginal rates (118 ) -
Deferred tax 83,662 -
Total tax charge 139,716 91,373

8. DIVIDENDS
31.12.23 31.12.22
£    £   
B Ordinary shares of £1 each
Interim 388,000 388,000

9. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 404,020 469,363 4,458
Additions - 286,887 4,629
Disposals - (125,000 ) (119 )
At 31 December 2023 404,020 631,250 8,968
DEPRECIATION
At 1 January 2023 - 231,481 1,832
Charge for year - 55,025 897
Eliminated on disposal - (69,500 ) (119 )
At 31 December 2023 - 217,006 2,610
NET BOOK VALUE
At 31 December 2023 404,020 414,244 6,358
At 31 December 2022 404,020 237,882 2,626

P. Colohan & Co. Limited (Registered number: 01149909)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


9. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 487,654 12,384 1,377,879
Additions 379,797 22,658 693,971
Disposals (296,584 ) (2,760 ) (424,463 )
At 31 December 2023 570,867 32,282 1,647,387
DEPRECIATION
At 1 January 2023 345,725 8,576 587,614
Charge for year 87,059 10,767 153,748
Eliminated on disposal (138,704 ) (2,760 ) (211,083 )
At 31 December 2023 294,080 16,583 530,279
NET BOOK VALUE
At 31 December 2023 276,787 15,699 1,117,108
At 31 December 2022 141,929 3,808 790,265

10. FIXED ASSET INVESTMENTS

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Rompcraft Limited
Registered office: 238 Station Road, Addlestone, Surrey, KT15 2PS
Nature of business: Dormant
%
Class of shares: holding
'B' Ordinary Shares of £1 each 50.00
'C' Ordinary Shares of £1 each 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 1,004 1,004

11. INVENTORIES
31.12.23 31.12.22
£    £   
Building materials and tools 18,643 18,113

P. Colohan & Co. Limited (Registered number: 01149909)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 2,049,893 2,506,559
Amounts recoverable on contract 262,709 399,322
Other debtors 8,500 27,000
VAT 352,618 320,137
Prepayments and accrued income 38,412 39,144
2,712,132 3,292,162

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 537,039 764,033
Amounts owed to group undertakings 1,004 1,004
Tax 146,881 90,827
Social security and other taxes 94,487 92,006
Other creditors 678,110 25,720
Directors' current accounts - 348,156
Accrued expenses 61,537 70,820
1,519,058 1,392,566

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 30,737 23,010
Between one and five years 19,451 13,800
50,188 36,810

15. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 119,345 35,683

Deferred
tax
£   
Balance at 1 January 2023 35,683
Provided during year 83,662
Balance at 31 December 2023 119,345

P. Colohan & Co. Limited (Registered number: 01149909)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 A Ordinary £1 100 100
100 B Ordinary £1 100 100
200 200

All shares issued rank equally in terms of voting rights, one vote per share.

17. RESERVES
Retained
earnings
£   

At 1 January 2023 9,422,264
Profit for the year 412,632
Dividends (388,000 )
At 31 December 2023 9,446,896

18. ULTIMATE CONTROLLING PARTY

During the year, Mrs MM Colohan was considered to be the controlling party as they held a majority of the company's issued share capital.