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REGISTERED NUMBER: 05022918 (England and Wales)












COLLINS BROTHERS PEMBS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

29 FEBRUARY 2024






COLLINS BROTHERS PEMBS LTD (REGISTERED NUMBER: 05022918)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COLLINS BROTHERS PEMBS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: C J Collins
Mrs E E Collins
B J Collins
H D Collins



SECRETARY: Mrs S M Thomas



REGISTERED OFFICE: Rose Valley
Lower Lamphey Road
Pembroke
Pembrokeshire
SA71 5NJ



REGISTERED NUMBER: 05022918 (England and Wales)



ACCOUNTANTS: Bevan Buckland LLP
Chartered Accountants
Castle Chambers
6 Westgate Hill
Pembroke
Pembrokeshire
SA71 4LB



BANKERS: Natwest Bank Plc
27 Main Street
Pembroke
Pembrokeshire
SA71 4JY

COLLINS BROTHERS PEMBS LTD (REGISTERED NUMBER: 05022918)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 576,891 510,678
576,891 510,678

CURRENT ASSETS
Stocks 8,100 7,250
Debtors 6 125,800 130,294
133,900 137,544
CREDITORS
Amounts falling due within one year 7 735,248 600,309
NET CURRENT LIABILITIES (601,348 ) (462,765 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(24,457

)

47,913

CREDITORS
Amounts falling due after more than one
year

8

144,751

164,460
NET LIABILITIES (169,208 ) (116,547 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (169,308 ) (116,647 )
SHAREHOLDERS' FUNDS (169,208 ) (116,547 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

COLLINS BROTHERS PEMBS LTD (REGISTERED NUMBER: 05022918)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 16 October 2024 and were signed on its behalf by:




C J Collins - Director



Mrs E E Collins - Director


COLLINS BROTHERS PEMBS LTD (REGISTERED NUMBER: 05022918)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Collins Brothers Pembs Ltd 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. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of two years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and Machinery - Straight line over 6 years
Fixtures and fittings - 20% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stocks 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.

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.

Hire purchase and leasing commitments
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.

COLLINS BROTHERS PEMBS LTD (REGISTERED NUMBER: 05022918)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Grants
Grant income is credited to income on receipt and allocated over the life of the project. Any amounts outstanding at the year end are included in either debtors or creditors. Capital grant income is written off to the profit and loss account at the same rate as the estimated useful life of the asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 30,000
AMORTISATION
At 1 March 2023
and 29 February 2024 30,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property Machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2023 17,165 2,679,821 8,409 269,020 2,974,415
Additions - 292,250 - - 292,250
Disposals - - - (17,935 ) (17,935 )
At 29 February 2024 17,165 2,972,071 8,409 251,085 3,248,730
DEPRECIATION
At 1 March 2023 17,165 2,239,670 6,305 200,597 2,463,737
Charge for year - 207,760 419 16,847 225,026
Eliminated on disposal - - - (16,924 ) (16,924 )
At 29 February 2024 17,165 2,447,430 6,724 200,520 2,671,839
NET BOOK VALUE
At 29 February 2024 - 524,641 1,685 50,565 576,891
At 28 February 2023 - 440,151 2,104 68,423 510,678

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 125,800 130,294

COLLINS BROTHERS PEMBS LTD (REGISTERED NUMBER: 05022918)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 112,001 112,252
Hire purchase contracts 163,675 118,670
Trade creditors 22,096 27,423
Taxation and social security 36,103 38,315
Other creditors 401,373 303,649
735,248 600,309

Included in other creditors is the directors loan account of £398,773 (2023 £301,049).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 24,671 34,744
Hire purchase contracts 120,080 129,716
144,751 164,460

9. RELATED PARTY DISCLOSURES

During the year the company traded from premises owned by Mr & Mrs C Collins, directors. No charge was made for this service.

10. ULTIMATE CONTROL

During the year under review the company was ultimately controlled by Mr & Mrs C J Collins, by virtue of their 80% holding of the issued share capital.