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REGISTERED NUMBER: 01873570 (England and Wales)















COLBURN DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024






COLBURN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01873570)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


COLBURN DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTORS: Mr M O Evans
Mr M D Chambers
Mr T E Evans
Mr F J Evans



SECRETARY: Mr M O Evans



REGISTERED OFFICE: 43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



REGISTERED NUMBER: 01873570 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Lloyds Bank Plc
5 High Street
Old Town
SWINDON
Wiltshire
SN1 3ED

COLBURN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01873570)

STATEMENT OF FINANCIAL POSITION
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,112 4,787
Investments 5 50 50
2,162 4,837

CURRENT ASSETS
Stocks 473,600 408,412
Debtors 6 1,044,591 468,136
Cash at bank 411,902 1,428,756
1,930,093 2,305,304
CREDITORS
Amounts falling due within one year 7 919,812 1,328,688
NET CURRENT ASSETS 1,010,281 976,616
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,012,443

981,453

CREDITORS
Amounts falling due after more than
one year

8

(14,704

)

(12,295

)

PROVISIONS FOR LIABILITIES (528 ) (1,197 )
NET ASSETS 997,211 967,961

CAPITAL AND RESERVES
Called up share capital 11 2,500 2,500
Share premium 2,000 2,000
Capital redemption reserve 2,500 2,500
Retained earnings 990,211 960,961
SHAREHOLDERS' FUNDS 997,211 967,961

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 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.

COLBURN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01873570)

STATEMENT OF FINANCIAL POSITION - continued
31ST JANUARY 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 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 22nd October 2024 and were signed on its behalf by:





Mr M O Evans - Director


COLBURN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01873570)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024


1. STATUTORY INFORMATION

Colburn Developments 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: 01873570

Registered office: 43-45 Devizes Road, Swindon, Wiltshire, SN1 4BG

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

Preparation of consolidated financial statements
The financial statements contain information about Colburn Developments 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.

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.

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

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- The directors review work in progress in regards to the stage of completion, in order to assess the point in which turnover is recognised.

- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

Turnover
The directors review work in progress in regards to the stage of completion, in order to assess the point in which turnover is recognised.

Turnover is measured at the fair value of consideration received, for services provided, excluding discounts, rebates, VAT and other sales taxes or duty.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost
Office and computer equipment - 25% on cost

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

COLBURN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01873570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


2. ACCOUNTING POLICIES - continued

Work in progress
Work in progress is valued at the amount chargeable on a contract by contract basis, based on the level of completion of the job. The profit element of the contract is recognised to the extent that the ultimate profitability of the contract is reasonably certain.

Amounts uninvoiced at the year end relating to contributions to overheads are presented within other debtors. This policy gives a more true and fair classification of the assets concerned.

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

COLBURN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01873570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st February 2023 172,975
Additions 900
At 31st January 2024 173,875
DEPRECIATION
At 1st February 2023 168,188
Charge for year 3,575
At 31st January 2024 171,763
NET BOOK VALUE
At 31st January 2024 2,112
At 31st January 2023 4,787


5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1st February 2023
and 31st January 2024 50
NET BOOK VALUE
At 31st January 2024 50
At 31st January 2023 50

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 563,676 13,363
Other debtors 480,915 454,773
1,044,591 468,136

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 282,972 195,365
Taxation and social security 44,930 24,667
Other creditors 591,910 1,108,656
919,812 1,328,688

COLBURN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01873570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Trade creditors 14,704 12,295

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 31,338 35,461
Between one and five years 100,994 107,332
In more than five years 21,875 46,875
154,207 189,668

10. SECURED DEBTS

All monies due or to become due from the company to Lloyds Bank on any account whatsoever are secured by way of fixed and floating charges over the undertaking and all property and assets present and future including goodwill book debts uncalled capital buildings fixtures fixed plant and machinery.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,500 Ordinary 2500 2,500 2,500

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st January 2024 and 31st January 2023:

2024 2023
£    £   
Mr M D Chambers
Balance outstanding at start of year - 2,800
Amounts repaid - (2,800 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The above loan was provided interest free with no fixed repayment date.

COLBURN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01873570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


13. RELATED PARTY DISCLOSURES

The following related party transactions took place during the year:-

Outstanding balances owed to/from a company/companies that Colburn Developments Limited holds a participating interest in:-

2024 2023
£    £   
Interest free loans owed to Colburn Developments Limited 328,669 319,416
Interest free loans owed from Colburn Developments Limited 82,761 84,135

All payable/repayable on demand.