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REGISTERED NUMBER: 13207205 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

S COLLISON LIMITED

S COLLISON LIMITED (REGISTERED NUMBER: 13207205)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


S COLLISON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: S Collison





REGISTERED OFFICE: 29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU





REGISTERED NUMBER: 13207205 (England and Wales)





ACCOUNTANTS: Advanta
Chartered Accountants
29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU

S COLLISON LIMITED (REGISTERED NUMBER: 13207205)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,387 43,258

CURRENT ASSETS
Stocks 5 600 2,120
Debtors 6 10,235 14,183
Cash at bank 1,629 5,035
12,464 21,338
CREDITORS
Amounts falling due within one year 7 20,097 34,004
NET CURRENT LIABILITIES (7,633 ) (12,666 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,754

30,592

CREDITORS
Amounts falling due after more than one
year

8

(22,232

)

(27,170

)

PROVISIONS FOR LIABILITIES 11 (2,376 ) (3,183 )
NET ASSETS 146 239

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 145 238
SHAREHOLDERS' FUNDS 146 239

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 director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 December 2024 and were signed by:




S Collison - Director


S COLLISON LIMITED (REGISTERED NUMBER: 13207205)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

S Collison 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.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

The validity of the going concern basis depends upon the continued support of the company director and creditors.

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

Revenue is recognised as work is completed. Revenue not billed is included in debtors as work in progress and payments on account in excess of the relevant amount of revenue is deposited in client bank accounts not shown in these accounts as according to accepted practice.

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 & machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

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.

S COLLISON LIMITED (REGISTERED NUMBER: 13207205)

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


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant & Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 8,793 55,330 1,199 65,322
Additions 324 - - 324
At 31 March 2024 9,117 55,330 1,199 65,646
DEPRECIATION
At 1 April 2023 3,684 17,581 799 22,064
Charge for year 1,358 9,437 400 11,195
At 31 March 2024 5,042 27,018 1,199 33,259
NET BOOK VALUE
At 31 March 2024 4,075 28,312 - 32,387
At 31 March 2023 5,109 37,749 400 43,258

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 35,340
DEPRECIATION
At 1 April 2023 8,835
Charge for year 6,626
At 31 March 2024 15,461
NET BOOK VALUE
At 31 March 2024 19,879
At 31 March 2023 26,505

5. STOCKS
2024 2023
£    £   
Stocks 600 1,320
Work-in-progress - 800
600 2,120

S COLLISON LIMITED (REGISTERED NUMBER: 13207205)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 9,515 14,183
Prepayments 720 -
10,235 14,183

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Finance leases (see note 9) 4,938 4,669
Trade creditors 2,106 1,164
Tax 8,579 10,744
VAT 848 3,497
Other creditors 2,206 268
Directors' current accounts - 9,744
Deferred income - 2,500
Accrued expenses 1,420 1,418
20,097 34,004

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Finance leases (see note 9) 22,232 27,170

9. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2024 2023
£    £   
Gross obligations repayable:
Within one year 6,508 6,508
Between one and five years 23,516 30,024
30,024 36,532

Finance charges repayable:
Within one year 1,570 1,839
Between one and five years 1,284 2,854
2,854 4,693

Net obligations repayable:
Within one year 4,938 4,669
Between one and five years 22,232 27,170
27,170 31,839

S COLLISON LIMITED (REGISTERED NUMBER: 13207205)

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
£    £   
Finance leases 27,170 31,839

The finance lease is secured against the motor vehicle.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,376 3,183

Deferred
tax
£   
Balance at 1 April 2023 3,183
Provided during year (807 )
Balance at 31 March 2024 2,376