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REGISTERED NUMBER: 05364056 (England and Wales)















Financial Statements

for the Year Ended 31 March 2024

for

Collisons Limited

Collisons Limited (Registered number: 05364056)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Collisons Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: K Chapman
A W Chapman
M J Lammas





SECRETARY: A W Chapman





REGISTERED OFFICE: 109 Dockfield Road
Shipley
West Yorkshire
BD17 7AR





REGISTERED NUMBER: 05364056 (England and Wales)





AUDITORS: Stirk Lambert & Co
Chartered Accountants
Statutory Auditors
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

Collisons Limited (Registered number: 05364056)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 13,820 21,490

CURRENT ASSETS
Stocks - 11,476
Debtors 6 40,039 20,581
Cash at bank 17,902 52,412
57,941 84,469
CREDITORS
Amounts falling due within one year 7 (486,477 ) (363,119 )
NET CURRENT LIABILITIES (428,536 ) (278,650 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(414,716

)

(257,160

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (414,717 ) (257,161 )
SHAREHOLDERS' FUNDS (414,716 ) (257,160 )

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.

Collisons Limited (Registered number: 05364056)

Statement of Financial Position - continued
31 March 2024



The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





K Chapman - Director


Collisons Limited (Registered number: 05364056)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Collisons 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a basis other than the going concern basis as the company has ceased to trade on the 31 March 2024.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and
services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Revenue from the rendering of services is measured by reference to the stage of completion of the service
transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the
outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 33% on cost, 20% on cost and 10% on cost
Fixtures & fittings - 33% on cost and 20% on cost
Computer equipment - 20% on cost, 10% on reducing balance, Straight line over 3 years and Straight line over 1 year

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 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.


Collisons Limited (Registered number: 05364056)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant & Fixtures Computer
machinery & fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 206,071 23,334 152,055 381,460
Disposals (114,500 ) (22,910 ) (101,413 ) (238,823 )
At 31 March 2024 91,571 424 50,642 142,637
DEPRECIATION
At 1 April 2023 184,582 23,334 152,054 359,970
Charge for year 7,669 - - 7,669
Eliminated on disposal (114,500 ) (22,910 ) (101,412 ) (238,822 )
At 31 March 2024 77,751 424 50,642 128,817
NET BOOK VALUE
At 31 March 2024 13,820 - - 13,820
At 31 March 2023 21,489 - 1 21,490

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 21,955 14,519
VAT 16,902 5,648
Prepayments & accrued income 1,182 414
40,039 20,581

Collisons Limited (Registered number: 05364056)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 8,810 8,694
Amounts owed to group undertakings 417,266 299,125
Accrued expenses 60,401 55,300
486,477 363,119

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 65,213 65,213
Between one and five years 103,254 168,468
168,467 233,681

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen McGevor FCCA (Senior Statutory Auditor)
for and on behalf of Stirk Lambert & Co

10. RELATED PARTY DISCLOSURES

The company is wholly owned by its parent company and has taken advantage of the exemption in FRS102 to not disclose transactions with its parent company and other wholly owned subsidiaries within the group.

Stangs Limited, a company registered in England & Wales, is the ultimate parent company and produces consolidated financial statements which are available at Companies House.

The registered office of Stangs Limited is, Russell Chambers, 61A North Street, Keighley BD21 3DS.

11. CONTROL RELATIONSHIPS

K Chapman, director and shareholder of Stangs Limited the ultimate parent undertaking, is considered to be the controlling party.

12. DEBENTURES

A debenture containing fixed and floating charges has been provided to Stangs Limited.