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REGISTERED NUMBER: 01476873 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

JW Colpitts & Co Limited

JW Colpitts & Co Limited (Registered number: 01476873)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


JW Colpitts & Co Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: W Emery
P Sharma
G Short





REGISTERED OFFICE: John Anderson House
Coniston Road
Blyth Riverside Business Park
Blyth
Northumberland
NE24 4RF





REGISTERED NUMBER: 01476873 (England and Wales)





ACCOUNTANTS: Peter Weldon & Co. Ltd
87 Station Road
Ashington
Northumberland
NE63 8RS

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
JW Colpitts & Co Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JW Colpitts & Co Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of JW Colpitts & Co Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JW Colpitts & Co Limited and state those matters that we have agreed to state to the Board of Directors of JW Colpitts & Co Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JW Colpitts & Co Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that JW Colpitts & Co Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JW Colpitts & Co Limited. You consider that JW Colpitts & Co Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JW Colpitts & Co Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Peter Weldon & Co. Ltd
87 Station Road
Ashington
Northumberland
NE63 8RS


18 March 2025

JW Colpitts & Co Limited (Registered number: 01476873)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 576,892 593,000
576,892 593,000

CURRENT ASSETS
Stocks 6 - 6,068
Debtors 7 339,585 451,098
Cash at bank and in hand 429,776 149,395
769,361 606,561
CREDITORS
Amounts falling due within one year 8 505,008 343,611
NET CURRENT ASSETS 264,353 262,950
TOTAL ASSETS LESS CURRENT
LIABILITIES

841,245

855,950

CREDITORS
Amounts falling due after more than one
year

9

(85,120

)

(99,678

)

PROVISIONS FOR LIABILITIES (44,611 ) (37,201 )
NET ASSETS 711,514 719,071

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 9,900 9,900
Retained earnings 701,414 708,971
SHAREHOLDERS' FUNDS 711,514 719,071

JW Colpitts & Co Limited (Registered number: 01476873)

Balance Sheet - continued
30 June 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





P Sharma - Director


JW Colpitts & Co Limited (Registered number: 01476873)

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

1. STATUTORY INFORMATION

JW Colpitts & Co 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements are prepared in sterling, which is the functional currency of the entity and are rounded to the nearest pound.

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

Turnover from construction and fabrication projects is measured by reference to the stage of completion of the project 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 expenses recognised are recovered.

Goodwill
The cost of goodwill has been amortised in full.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Plant and machinery - 10% on cost per annum
Fixtures and fittings - 10% on cost per annum
Motor vehicles - 20% on cost per annum

Tangible assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

JW Colpitts & Co Limited (Registered number: 01476873)

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

2. ACCOUNTING POLICIES - continued

Stocks
Stock and work in progress is valued at the lower of cost and net realisable value.

Cost includes all costs of purchases and other costs incurred in bringing the stock to its present condition.

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.

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently amortised cost, net of impairment.

Trade and other creditors
Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised costs using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 38 ) .

JW Colpitts & Co Limited (Registered number: 01476873)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 6,000
AMORTISATION
At 1 July 2023
and 30 June 2024 6,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 454,978 587,377 295,744 231,034 1,569,133
Additions - - - 56,213 56,213
Disposals - - - (30,049 ) (30,049 )
At 30 June 2024 454,978 587,377 295,744 257,198 1,595,297
DEPRECIATION
At 1 July 2023 111,674 473,055 201,896 189,508 976,133
Charge for year 7,994 25,303 19,287 19,737 72,321
Eliminated on disposal - - - (30,049 ) (30,049 )
At 30 June 2024 119,668 498,358 221,183 179,196 1,018,405
NET BOOK VALUE
At 30 June 2024 335,310 89,019 74,561 78,002 576,892
At 30 June 2023 343,304 114,322 93,848 41,526 593,000

6. STOCKS
2024 2023
£    £   
Work-in-progress - 6,068

JW Colpitts & Co Limited (Registered number: 01476873)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 319,128 432,026
Amounts owed by associates 5,300 5,300
Prepayments 15,157 13,772
339,585 451,098

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,512 7,512
Hire purchase contracts 20,704 7,957
Trade creditors 283,666 148,849
Tax 10,304 -
Social security and other taxes 19,445 25,097
VAT 44,953 45,570
Directors' loan accounts 106,826 106,826
Accrued expenses 11,598 1,800
505,008 343,611

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 82,221 88,822
Hire purchase contracts 2,899 10,856
85,120 99,678

JW Colpitts & Co Limited (Registered number: 01476873)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 89,733 96,334
Hire purchase contracts 23,603 18,813
113,336 115,147

The bank loan is secured on the company's freehold property.

The finance leases are secured on the assets concerned.