Company Registration No. 03267051 (England and Wales)
Collinson Tensile Limited
(formerly Collinson Construction Limited)
Annual Report and Unaudited Financial Statements
For the Year Ended
31 December 2024
PAGES FOR FILING WITH REGISTRAR
COLLINSON TENSILE LIMITED
Collinson Tensile Limited
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
COLLINSON TENSILE LIMITED
Collinson Tensile Limited
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Intangible assets
4
-
0
1,153
Property, plant and equipment
5
51,558
22,490
51,558
23,643
Current assets
Inventories
147,620
147,620
Trade and other receivables
6
1,652,304
726,275
Cash and cash equivalents
625,973
1,566,106
2,425,897
2,440,001
Current liabilities
7
(3,020,787)
(3,019,177)
Net current liabilities
(594,890)
(579,176)
Total assets less current liabilities
(543,332)
(555,533)
Provisions for liabilities
-
0
(5,393)
Net liabilities
(543,332)
(560,926)
Equity
Called up share capital
8
50,000
50,000
Retained earnings
(593,332)
(610,926)
Total equity
(543,332)
(560,926)

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 December 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 member has 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.

COLLINSON TENSILE LIMITED
Collinson Tensile Limited
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 8 May 2025 and are signed on its behalf by:
D Collinson
Director
Company Registration No. 03267051
COLLINSON TENSILE LIMITED
Collinson Tensile Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Collinson Tensile Limited is a company limited by shares incorporated in England and Wales. The address of the company's registered office and principal place of business is Riverside Industrial Park, Catterall, Preston, Lancashire, PR3 0HP.

1.1
Accounting convention

These financial statements have been prepared in accordance with 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.

1.2
Going concern

The directors have assessed the company’s ability to continue as a going concern and are confident in its future prospects. Following a successful period of restructuring and streamlining, the business is now fully focused on its core strength—delivering high-quality tensile structure projects. This strategic realignment has enhanced operational efficiency and market positioning. The order book for 2025/26 is exceptionally strong, with a healthy pipeline of confirmed projects and further opportunities in negotiation. As such, the directors have a reasonable expectation that the company will continue to operate and meet its obligations for the foreseeable future.true

 

Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Revenue from construction contracts is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation 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:

Software
25% straight line
COLLINSON TENSILE LIMITED
Collinson Tensile Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Property, plant and equipment

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

Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery
12.5% and 6.67% straight line
Computer equipment
25% straight line
Motor vehicles
25% straight line

Freehold land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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 is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost 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, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

COLLINSON TENSILE LIMITED
Collinson Tensile Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.8
Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

 

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

 

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

1.10
Financial instruments

The company has financial assets (debtors, cash and bank balances) and liabilities (creditors and accruals) of a kind that qualify as basic financial instruments. They are initially recognised at transaction value and subsequently measured at their settlement value.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
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. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

COLLINSON TENSILE LIMITED
Collinson Tensile Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Construction revenue and profit recognition

Recognition of revenue and profit is based on judgements made in respect of the ultimate profitability of a contract. Such judgements are arrived at through the use of estimates in relation to the costs and value of work performed to date and to be performed in bringing contracts to completion. These estimates are made by reference to recovery of pre-contract costs, surveys of progress against the construction programme, changes in work scope, the contractual terms under which the work is being performed, including the recoverability of any unagreed revenue from variations and the likely outcome of discussions on claims, costs incurred and external certification of the work performed.

 

Directors continually review the estimated final out-turn on contracts and make adjustments where necessary.

COLLINSON TENSILE LIMITED
Collinson Tensile Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
3
Employees

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

2024
2023
Number
Number
Total
12
20
4
Intangible fixed assets
Software
£
Cost
At 1 January 2024 and 31 December 2024
21,414
Amortisation and impairment
At 1 January 2024
20,261
Amortisation charged for the year
1,153
At 31 December 2024
21,414
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
1,153
5
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 January 2024
75,112
Additions
37,990
Disposals
(6,451)
At 31 December 2024
106,651
Depreciation and impairment
At 1 January 2024
52,622
Depreciation charged in the year
4,644
Eliminated in respect of disposals
(2,173)
At 31 December 2024
55,093
Carrying amount
At 31 December 2024
51,558
At 31 December 2023
22,490
COLLINSON TENSILE LIMITED
Collinson Tensile Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
6
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
1,490,938
670,343
Other receivables
161,366
55,932
1,652,304
726,275
7
Current liabilities
2024
2023
£
£
Trade payables
1,348,801
1,107,651
Taxation and social security
233,743
112,166
Other payables
1,438,243
1,799,360
3,020,787
3,019,177
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
2,750
2,750
2,750
2,750
Ordinary B shares of £1 each
12,250
12,250
12,250
12,250
Ordinary C shares of £1 each
2,750
2,750
2,750
2,750
Ordinary D shares of £1 each
12,250
12,250
12,250
12,250
Ordinary E shares of £1 each
8,000
8,000
8,000
8,000
Ordinary F shares of £1 each
8,000
8,000
8,000
8,000
Ordinary G shares of £1 each
1,000
1,000
1,000
1,000
Ordinary H shares of £1 each
1,000
1,000
1,000
1,000
Ordinary I shares of £1 each
1,000
1,000
1,000
1,000
Ordinary J shares of £1 each
1,000
1,000
1,000
1,000
50,000
50,000
50,000
50,000

All shares rank pari passu except in respect of dividends where the amounts paid can be differentiated between the different classes of share.

9
Parent company

The company is a wholly owned subsidiary of D Collinson Holdings Limited (formerly Collinson Construction Holdings Limited), a company incorporated in England. The group is small and the parent has taken advantage of exemptions to not produce consolidated financial statements.

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