Company registration number 00561243 (England and Wales)
H.COLLINGTON & SONS LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
H.COLLINGTON & SONS LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
H.COLLINGTON & SONS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
50,887
53,953
Current assets
Cash and cash equivalents
88,825
67,392
Current liabilities
4
(31,799)
(30,205)
Net current assets
57,026
37,187
Net assets
107,913
91,140
Equity
Called up share capital
6
3,618
3,618
Share premium account
7,686
7,686
Capital redemption reserve
1,000
1,000
Retained earnings
95,609
78,836
Total equity
107,913
91,140

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on
12 September 2024
12 September 2024
and are signed on its behalf by:
2024-09-12
C V Collington
Director
Company registration number 00561243 (England and Wales)
H.COLLINGTON & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

H.Collington & Sons Limited is a private company limited by shares incorporated in England and Wales. The registered office is 94 Brook Street, Wymeswold, Loughborough, Leicestershire, LE12 6TU.

1.1
Basis of preparation

These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business and is recognised in the period in which the services are provided.

 

Other operating income represents rents receivable and is recognised when rentals are due in accordance with the lease terms.

 

1.3
Property, plant and equipment

Property, plant and equipment are measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
2% Straight line (Land not depreciated)
Plant and machinery
20% reducing balance
Fixtures, fittings & equipment
33% straight line
Motor vehicles
25% reducing balance
1.4
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset, or the asset's cash generating unit is estimated and compared to the carrying amount in order to determine the extent of the impairment loss (if any). Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

H.COLLINGTON & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences.

1.7
Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
3
Property, plant and equipment
Land and buildings Freehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
44,651
65,489
1,132
24,000
135,272
Depreciation and impairment
At 1 April 2023
759
58,498
1,132
20,930
81,319
Depreciation charged in the year
549
1,749
-
0
768
3,066
At 31 March 2024
1,308
60,247
1,132
21,698
84,385
Carrying amount
At 31 March 2024
43,343
5,242
-
0
2,302
50,887
At 31 March 2023
43,892
6,991
-
0
3,070
53,953
H.COLLINGTON & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
4
Current liabilities
2024
2023
£
£
Corporation tax
5,502
4,231
Other payables
26,297
25,974
31,799
30,205
5
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
423,292
454,153
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
3,618 Ordinary shares of £1 each
3,618
3,618
3,618
3,618
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