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REGISTERED NUMBER: 09508886 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Colley Contracting Limited

Colley Contracting Limited (Registered number: 09508886)






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




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Colley Contracting Limited

Company Information
for the Year Ended 31 March 2024







Directors: Mr. P A Colley
Mrs. K Colley





Registered office: Beverley Road
Hutton Cranswick
Cranswick
Driffield
East Yorkshire
YO25 9PF





Registered number: 09508886 (England and Wales)





Accountants: Ullyott Limited
6 George Street
Driffield
East Yorkshire
YO25 6RA

Colley Contracting Limited (Registered number: 09508886)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 59,099 64,472
Tangible assets 5 873,137 728,847
932,236 793,319

CURRENT ASSETS
Stocks 6 122,000 265,000
Debtors 7 233,331 71,883
Cash at bank 56,039 -
411,370 336,883
CREDITORS
Amounts falling due within one year 8 209,061 285,367
NET CURRENT ASSETS 202,309 51,516
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,134,545

844,835

CREDITORS
Amounts falling due after more than one
year

9

(446,782

)

(348,305

)

PROVISIONS FOR LIABILITIES 11 (218,284 ) (138,481 )
NET ASSETS 469,479 358,049

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 469,379 357,949
SHAREHOLDERS' FUNDS 469,479 358,049

Colley Contracting Limited (Registered number: 09508886)

Balance Sheet - continued
31 March 2024


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

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

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 20 November 2024 and were signed on its behalf by:





Mr. P A Colley - Director


Colley Contracting Limited (Registered number: 09508886)

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

1. STATUTORY INFORMATION

Colley Contracting 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. 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 2015, is being amortised evenly over its estimated useful life of twenty 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on reducing balance
Motor vehicles - 20% on 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 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 balance sheet date.


Colley Contracting Limited (Registered number: 09508886)

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

2. ACCOUNTING POLICIES - continued
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
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.

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 4 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 107,456
AMORTISATION
At 1 April 2023 42,984
Amortisation for year 5,373
At 31 March 2024 48,357
NET BOOK VALUE
At 31 March 2024 59,099
At 31 March 2023 64,472

Colley Contracting Limited (Registered number: 09508886)

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

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 988,817 235,567 1,224,384
Additions 421,998 - 421,998
Disposals (258,000 ) - (258,000 )
At 31 March 2024 1,152,815 235,567 1,388,382
DEPRECIATION
At 1 April 2023 321,466 174,071 495,537
Charge for year 77,327 12,299 89,626
Eliminated on disposal (69,918 ) - (69,918 )
At 31 March 2024 328,875 186,370 515,245
NET BOOK VALUE
At 31 March 2024 823,940 49,197 873,137
At 31 March 2023 667,351 61,496 728,847

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 651,311 111,170 762,481
Additions 421,998 - 421,998
Disposals (258,000 ) - (258,000 )
At 31 March 2024 815,309 111,170 926,479
DEPRECIATION
At 1 April 2023 157,631 74,743 232,374
Charge for year 59,960 7,285 67,245
Eliminated on disposal (69,918 ) - (69,918 )
At 31 March 2024 147,673 82,028 229,701
NET BOOK VALUE
At 31 March 2024 667,636 29,142 696,778
At 31 March 2023 493,680 36,427 530,107

Colley Contracting Limited (Registered number: 09508886)

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

6. STOCKS
2024 2023
£    £   
Stocks 122,000 265,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 233,331 57,398
Corporation tax - 918
VAT - 13,567
233,331 71,883

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 128,842
Hire purchase contracts 63,539 104,729
Trade creditors 101,560 48,080
Corporation tax 14,495 -
Social security and other taxes 1,001 1,447
VAT 1,471 -
Other creditors 284 271
Directors' current accounts 14,811 148
Accruals and deferred income 1,900 1,850
209,061 285,367

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 11,667 21,667
Hire purchase contracts 42,353 62,602
Amounts owed to associates 392,762 264,036
446,782 348,305

Colley Contracting Limited (Registered number: 09508886)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 118,842

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 218,284 138,481

Deferred
tax
£   
Balance at 1 April 2023 138,481
Provided during year 79,803
Balance at 31 March 2024 218,284

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

13. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.