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REGISTERED NUMBER: 01765087 (England and Wales)










Collins Reinforcements Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024






Collins Reinforcements Limited (Registered number: 01765087)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Collins Reinforcements Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr M Collins
Mr P Collins





SECRETARY: Mr M Collins





REGISTERED OFFICE: Unit 5 Dobson Park
Industrial Estate Dobson Park Way
Ince
Wigan
WN2 2DY





REGISTERED NUMBER: 01765087 (England and Wales)






Collins Reinforcements Limited (Registered number: 01765087)

Balance Sheet
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 313,399 327,375

CURRENT ASSETS
Stocks 5 299,400 315,999
Debtors 6 791,831 851,986
Cash at bank and in hand 1,174,241 1,034,850
2,265,472 2,202,835
CREDITORS
Amounts falling due within one year 7 (986,945 ) (935,678 )
NET CURRENT ASSETS 1,278,527 1,267,157
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,591,926

1,594,532

PROVISIONS FOR LIABILITIES (34,258 ) (36,274 )
NET ASSETS 1,557,668 1,558,258

CAPITAL AND RESERVES
Called up share capital 8 19,700 19,700
Capital redemption reserve 4,100 4,100
Retained earnings 1,533,868 1,534,458
SHAREHOLDERS' FUNDS 1,557,668 1,558,258

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Collins Reinforcements Limited (Registered number: 01765087)

Balance Sheet - continued
30 September 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2025 and were signed on its behalf by:





Mr M Collins - Director


Collins Reinforcements Limited (Registered number: 01765087)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

2. ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

TAX
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

TANGIBLE ASSETS
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Collins Reinforcements Limited (Registered number: 01765087)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

DEPRECIATION
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class Depreciation method and rate
Land and Buildings 2% straight line
Plant and machinery 15% straight line
Fixtures and fittings 15% straight line
Motor vehicles 25% reducing balance
Office Buildings 2% straight line

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

LEASES
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Collins Reinforcements Limited (Registered number: 01765087)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

DIVIDENDS
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

DEFINED CONTRIBUTION PENSION OBLIGATION
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 October 2023 131,892 96,749 503,344
Additions - - 23,850
At 30 September 2024 131,892 96,749 527,194
DEPRECIATION
At 1 October 2023 - 58,989 369,102
Charge for year - 1,935 32,352
At 30 September 2024 - 60,924 401,454
NET BOOK VALUE
At 30 September 2024 131,892 35,825 125,740
At 30 September 2023 131,892 37,760 134,242

Collins Reinforcements Limited (Registered number: 01765087)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Office
fittings vehicles buildings Totals
£    £    £    £   
COST
At 1 October 2023 51,650 22,913 94,388 900,936
Additions 6,505 - - 30,355
At 30 September 2024 58,155 22,913 94,388 931,291
DEPRECIATION
At 1 October 2023 46,775 11,409 87,286 573,561
Charge for year 4,476 2,695 2,873 44,331
At 30 September 2024 51,251 14,104 90,159 617,892
NET BOOK VALUE
At 30 September 2024 6,904 8,809 4,229 313,399
At 30 September 2023 4,875 11,504 7,102 327,375

Included within the net book value of land and buildings above is £131,892 (2023 - £131,892) in respect of freehold land and buildings and £35,825 (2023 - £37,760) in respect of long leasehold land and buildings.

5. STOCKS
2024 2023
£    £   
Raw materials and consumables 299,400 315,999

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 791,831 851,986

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 103,279 121,411
Other creditors 883,666 814,267
986,945 935,678

Collins Reinforcements Limited (Registered number: 01765087)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
19,700 Ordinary £1 19,700 19,700

9. DIVIDENDS

2024(£ ) 2023(£ )
Interim dividend of £16.00 (2023 - £9,.64) per each Ordinary share 160,000 190,000


DIRECTORS' REMUNERATION

The directors' remuneration for the year was as follows:

2024(£ ) 2023(£ )
Remuneration 79,992 79,992

10. RELATED PARTY DISCLOSURES

The following are the balance with related parties -

2024(£ ) 2023(£ )
K B Rebars 57,105 59,251