0 01/04/2024 31/03/2025 2025-03-31 false false false false false false false true false false true false false false false true true false 2024-04-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 01515748 2024-04-01 2025-03-31 01515748 2025-03-31 01515748 2024-03-31 01515748 2023-04-01 2024-03-31 01515748 2024-03-31 01515748 2023-03-31 01515748 core:PlantMachinery 2024-04-01 2025-03-31 01515748 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 01515748 core:MotorVehicles 2024-04-01 2025-03-31 01515748 bus:RegisteredOffice 2024-04-01 2025-03-31 01515748 bus:LeadAgentIfApplicable 2024-04-01 2025-03-31 01515748 bus:Director1 2024-04-01 2025-03-31 01515748 bus:Director2 2024-04-01 2025-03-31 01515748 bus:Director3 2024-04-01 2025-03-31 01515748 bus:CompanySecretary1 2024-04-01 2025-03-31 01515748 core:PlantMachinery 2024-03-31 01515748 core:MotorVehicles 2024-03-31 01515748 core:PlantMachinery 2025-03-31 01515748 core:MotorVehicles 2025-03-31 01515748 core:WithinOneYear 2025-03-31 01515748 core:WithinOneYear 2024-03-31 01515748 core:AfterOneYear 2025-03-31 01515748 core:ShareCapital 2025-03-31 01515748 core:ShareCapital 2024-03-31 01515748 core:RetainedEarningsAccumulatedLosses 2025-03-31 01515748 core:RetainedEarningsAccumulatedLosses 2024-03-31 01515748 core:PlantMachinery 2024-03-31 01515748 core:MotorVehicles 2024-03-31 01515748 bus:SmallEntities 2024-04-01 2025-03-31 01515748 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 01515748 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 01515748 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 01515748 bus:FullAccounts 2024-04-01 2025-03-31 01515748 core:ParentEntities 2024-04-01 2025-03-31 01515748 core:ParentEntities 2025-03-31 01515748 core:ParentEntities 2024-03-31
Company registration number: 01515748
(England and Wales)
COLCHESTER REWINDS PLANT AND ENGINEERING LIMITED
Unaudited filleted financial statements
for the year ended
31 March 2025
COLCHESTER REWINDS PLANT AND ENGINEERING LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
COLCHESTER REWINDS PLANT AND ENGINEERING LIMITED
Directors and other information
Directors Mr D Bond
Mr K J Cutting
Mr R H Lawson
Secretary D Bond
Company number 01515748
Registered office 4 & 5 The Cedars
Apex 12
Old Ipswich Road
Colchester
CO7 7QR
Business address Moss Road
Stanway
Colchester
CO3 0LE
Accountants Griffin Chapman
4 & 5 The Cedars
Apex 12, Old Ipswich Road
Colchester
Essex
CO7 7QR
COLCHESTER REWINDS PLANT AND ENGINEERING LIMITED
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of COLCHESTER REWINDS PLANT AND ENGINEERING LIMITED
Year ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of COLCHESTER REWINDS PLANT AND ENGINEERING LIMITED for the year ended 31 March 2025 which comprise the statement of financial position and 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 at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of COLCHESTER REWINDS PLANT AND ENGINEERING LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of COLCHESTER REWINDS PLANT AND ENGINEERING LIMITED and state those matters that we have agreed to state to the board of directors of COLCHESTER REWINDS PLANT AND ENGINEERING LIMITED as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than COLCHESTER REWINDS PLANT AND ENGINEERING LIMITED and its board of directors as a body for our work or for this report.
It is your duty to ensure that COLCHESTER REWINDS PLANT AND ENGINEERING 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 loss of COLCHESTER REWINDS PLANT AND ENGINEERING LIMITED. You consider that COLCHESTER REWINDS PLANT AND ENGINEERING 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 COLCHESTER REWINDS PLANT AND ENGINEERING 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.
Griffin Chapman
Chartered Accountants
4 & 5 The Cedars
Apex 12, Old Ipswich Road
Colchester
Essex
CO7 7QR
15 May 2025
COLCHESTER REWINDS PLANT AND ENGINEERING LIMITED
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 5 47,040 32,268
_______ _______
47,040 32,268
Current assets
Stocks 26,115 17,381
Debtors 6 52,286 103,323
Cash at bank and in hand 64,281 81,782
_______ _______
142,682 202,486
Creditors: amounts falling due
within one year 7 ( 94,259) ( 94,884)
_______ _______
Net current assets 48,423 107,602
_______ _______
Total assets less current liabilities 95,463 139,870
Creditors: amounts falling due
after more than one year 8 ( 10,920) -
Provisions for liabilities - ( 4,827)
_______ _______
Net assets 84,543 135,043
_______ _______
Capital and reserves
Called up share capital 200 200
Profit and loss account 84,343 134,843
_______ _______
Shareholders funds 84,543 135,043
_______ _______
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 15 May 2025 , and are signed on behalf of the board by:
Mr D Bond
Director
Company registration number: 01515748
COLCHESTER REWINDS PLANT AND ENGINEERING LIMITED
Notes to the financial statements
Year ended 31 March 2025
1. General information
The principle activity of the company is engineering .
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
In the process of applying the Group and Company's accounting policies, which are described above, management has made some judgements that may have a significant effect on the amounts recognised in the financial statements. These also include key assumptions concerning the future and other key sources of estimation uncertainty at the statement of financial position date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.Stock and work in progress are stated at the lower of cost (first-in-first-out method) or net realisable value. Provisions are recognised for slow moving, obsolete or unsalable inventory and are reviewed on a periodic basis. This figure is incorporated into the value of closing stock and work in progress at the year-end.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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 measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % straight line
Fittings fixtures and equipment - 33 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2024: 6).
5. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 April 2024 273,491 100,720 374,211
Additions - 25,995 25,995
Disposals - ( 19,190) ( 19,190)
_______ _______ _______
At 31 March 2025 273,491 107,525 381,016
_______ _______ _______
Depreciation
At 1 April 2024 251,307 90,636 341,943
Charge for the year 5,138 5,771 10,909
Disposals - ( 18,876) ( 18,876)
_______ _______ _______
At 31 March 2025 256,445 77,531 333,976
_______ _______ _______
Carrying amount
At 31 March 2025 17,046 29,994 47,040
_______ _______ _______
At 31 March 2024 22,184 10,084 32,268
_______ _______ _______
6. Debtors
2025 2024
£ £
Trade debtors 52,286 103,323
_______ _______
7. Creditors: amounts falling due within one year
2025 2024
£ £
Bank loans and overdrafts 6,496 -
Trade creditors 5,411 5,766
Amounts owed to group undertakings and undertakings in which the company has a participating interest 64,915 68,855
Social security and other taxes 14,487 17,313
Other creditors 2,950 2,950
_______ _______
94,259 94,884
_______ _______
8. Creditors: amounts falling due after more than one year
2025 2024
£ £
Other creditors 10,920 -
_______ _______
9. Contingent assets and liabilities
The company is included in the group VAT election and is therefore liable for the group liability should the other member of the group default on the payment. At the year end the VAT liability of the other group member amounted to £ 73,342 (2024 : £ 50,099 ).
10. Related party transactions
Colchester Rewinds and Repairs Ltd (CRR): - -
During the year the company entered into transactions with it's parent company which are considered to be at market value and therefore no disclosure is considered necessary.At the year-end an amount of £ 64,914 (2024 : £ 68,855 ) was included in creditors and owed to the company's ultimate parent undertaking. The amount is repayable on demand and no interest is being charged.
11. Controlling party
The company's ultimate parent undertaking at the balance sheet date was Colchester Rewinds and Repairs Limited , a company incorporated in England.