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REGISTERED NUMBER: 00624771 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

R P COLMAN & CO LIMITED

R P COLMAN & CO LIMITED (REGISTERED NUMBER: 00624771)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


R P COLMAN & CO LIMITED (REGISTERED NUMBER: 00624771)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 229
Tangible assets 5 282,538 324,968
Investments 6 1 1
282,539 325,198

CURRENT ASSETS
Stocks 950,071 867,425
Debtors 7 734,849 648,116
Cash at bank 83,218 72,112
1,768,138 1,587,653
CREDITORS
Amounts falling due within one year 8 1,488,302 1,369,528
NET CURRENT ASSETS 279,836 218,125
TOTAL ASSETS LESS CURRENT
LIABILITIES

562,375

543,323

CREDITORS
Amounts falling due after more than one
year

9

(44,388

)

-

PROVISIONS FOR LIABILITIES (147,282 ) (77,662 )
NET ASSETS 370,705 465,661

CAPITAL AND RESERVES
Called up share capital 11 8,000 8,000
Revaluation reserve 12 108,436 123,927
Retained earnings 254,269 333,734
SHAREHOLDERS' FUNDS 370,705 465,661

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.

R P COLMAN & CO LIMITED (REGISTERED NUMBER: 00624771)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





W R Colman - Director


R P COLMAN & CO LIMITED (REGISTERED NUMBER: 00624771)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

R P Colman & Co Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00624771

Registered office: Colman House
Avian Way
Salhouse Road
Norwich
Norfolk
NR7 9AJ

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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of goods and the fair value of services provided during the year. Turnover is recognised as contract activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from clients. Turnover excludes value added tax.

Unbilled turnover on individual contracts is included as accrued income within debtors.

Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is calculated, using the straight-line method, to allocate the depreciable amount of the assets to
their residual values over their estimated useful lives, as follows:

Other intangible assets-3 years

Tangible assets
Tangible assets under the cost model are stated at historical cost less accumulated depreciation and accumulated impairment losses. Historical cost includes the original purchase price of the asset plus costs attributable to bringing the asset to its working condition for its intended use.

Tangible assets under the revaluation model are stated at fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is charged from the time when tangible assets are brought into use and is calculated so as to write off the cost of fixed assets, less their estimated residual values, over the expected useful economic lives of the assets concerned. The principal annual rates used for this purpose are as follows:

Plant and machinery etc-20% on cost, 12.5% on reducing balance, 10% on cost and straight line over the
term of the lease

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


R P COLMAN & CO LIMITED (REGISTERED NUMBER: 00624771)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

Deferred tax
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Investments
Investments held as fixed asset investments are stated at cost less provision for any permanent diminution in value.

Invoice discounting
Where debts are invoice discounted, the gross amount of debts due from customers is included within trade debtors with the advances received from invoice discounting shown as a liability.

3. EMPLOYEES

The average number of employees during the year was 24 (2022 - 26 ) .

R P COLMAN & CO LIMITED (REGISTERED NUMBER: 00624771)

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 53,860
AMORTISATION
At 1 January 2023 53,631
Charge for year 229
At 31 December 2023 53,860
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 229

5. TANGIBLE ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 998,527
DEPRECIATION
At 1 January 2023 673,559
Charge for year 42,430
At 31 December 2023 715,989
NET BOOK VALUE
At 31 December 2023 282,538
At 31 December 2022 324,968

Cost or valuation at 31 December 2023 is represented by:

Plant and
machinery
etc
£
Cost833,291
Directors' valuation in 2022165,236
998,527

The net carrying amount of assets included in plant and machinery etc given as security against bank loans is £113,073 (2022 - £Nil).

R P COLMAN & CO LIMITED (REGISTERED NUMBER: 00624771)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 656,912 546,242
Other debtors 77,937 101,874
734,849 648,116

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 32,926 -
Trade creditors 906,054 810,178
Taxation and social security 58,439 70,240
Other creditors 490,883 489,110
1,488,302 1,369,528

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 44,388 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other creditors 425,841 353,520
Bank loans 77,314 -
503,155 353,520

Other creditors are secured by a debenture contained fixed and floating charges.

Bank loans are secured against the assets as detailed in note 5.

R P COLMAN & CO LIMITED (REGISTERED NUMBER: 00624771)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,150 Ordinary A £1 1,150 1,150
1,100 Ordinary B £1 1,100 1,100
1,267 Ordinary C £1 1,267 1,267
583 Ordinary D £1 583 583
3,900 Ordinary E £1 3,900 3,900
8,000 8,000

12. RESERVES
Revaluation
reserve
£   
At 1 January 2023 123,927
Transfer (15,491 )

At 31 December 2023 108,436

13. PENSION COMMITMENTS

At 31 December 2023, included in other creditors falling due within one year are unpaid contributions of £1,773 (2022 - £1,921) due to a defined contribution pension scheme.

14. OTHER FINANCIAL COMMITMENTS

At 31 December 2023, the company had total financial commitments which are not included in the balance sheet of £94,161 (2022 - £136,784), of which an amount of £46,026 (2022 - £82,489) is committed to be paid within one year.

15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
A J Colman and J P Colman
Balance outstanding at start of year 18,636 -
Amounts advanced - 18,636
Amounts repaid (18,636 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 18,636

W R Colman
Balance outstanding at start of year 10,000 -
Amounts advanced 10,000 13,000
Amounts repaid (10,000 ) (3,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,000 10,000

The above loans are unsecured, repayable on demand and subject to interest charges at HM Revenue and Customs' official rate of interest on any beneficial overdrawn loan account by the company.

R P COLMAN & CO LIMITED (REGISTERED NUMBER: 00624771)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

16. RELATED PARTY DISCLOSURES

At the year end, £50,000 was payable by the company to Judges Properties Limited, a company under the
control of the director Mr R P Colman, and included within creditors (2022 - £50,000).

17. CONTROLLING PARTY

The immediate and ultimate parent company is RP Colman & Co Holdings Limited.

There is no ultimate controlling party.