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COLLINS INCORPORATED LIMITED

Registered Number
SC753621
(Scotland)

Unaudited Financial Statements for the Period ended
31 December 2023

COLLINS INCORPORATED LIMITED
Company Information
for the period from 21 December 2022 to 31 December 2023

Directors

Lord Shaun Patrick Collins
Lady Sylvia Wisna-Collins

Registered Address

57 Redlands Road
Tullibody
Alloa
FK10 2QN

Registered Number

SC753621 (Scotland)
COLLINS INCORPORATED LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

£

£

Fixed assets
Intangible assets328,562
Tangible assets44,861
33,423
Current assets
Stocks960
Debtors510,378
Cash at bank and on hand5,960
17,298
Creditors amounts falling due within one year6(95,562)
Net current assets (liabilities)(78,264)
Total assets less current liabilities(44,841)
Provisions for liabilities(924)
Net assets(45,765)
Capital and reserves
Called up share capital100
Profit and loss account(45,865)
Shareholders' funds(45,765)
The financial statements were approved and authorised for issue by the Board of Directors on 16 September 2024, and are signed on its behalf by:
Lady Sylvia Wisna-Collins
Director
Registered Company No. SC753621
COLLINS INCORPORATED LIMITED
Notes to the Financial Statements
for the period ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
The financial statements have been prepared on the going concern basis. The director finds it appropriate for the financial statements to be prepared on this basis despite the net liability position of the company. The company is reliant upon the continued support of the director who has confirmed that they will continue to support the company as required.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. Intangible assets are amortised over 5 years.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixed assets are stated at cost, being purchase price, less accumulated depreciation.

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Office Equipment25
Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
2.Average number of employees

2023
Average number of employees during the year5
3.Intangible assets

Goodwill

Total

££
Cost or valuation
Additions35,41135,411
At 31 December 2335,41135,411
Amortisation and impairment
Charge for year6,8496,849
At 31 December 236,8496,849
Net book value
At 31 December 2328,56228,562
At 20 December 22--
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
Additions3,8021,4154395,656
At 31 December 233,8021,4154395,656
Depreciation and impairment
Charge for year65439102795
At 31 December 2365439102795
Net book value
At 31 December 233,1481,3763374,861
At 20 December 22----
5.Debtors: amounts due within one year

2023

£
Prepayments and accrued income238
Deferred tax asset, debtors10,140
Total10,378
6.Creditors: amounts due within one year

2023

£
Other creditors93,468
Accrued liabilities and deferred income2,094
Total95,562