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REGISTERED NUMBER: 00700585 (England and Wales)




















Financial Statements

for the Year Ended 31 October 2024

for

Columbia Metals Limited

Columbia Metals Limited (Registered number: 00700585)






Contents of the Financial Statements
for the year ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 9


Columbia Metals Limited

Company Information
for the year ended 31 October 2024







DIRECTORS: Mr D Stephenson
Mrs W K Stephenson





REGISTERED OFFICE: Unit E Ronald Close
Woburn Road Industrial Estate
Kempston
Bedford
Bedfordshire
MK42 7SH





REGISTERED NUMBER: 00700585 (England and Wales)





AUDITORS: Clifford Roberts
Chartered Accountants &
Statutory Auditors
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

Columbia Metals Limited (Registered number: 00700585)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2,266,603 2,242,234
Investment property 5 205,000 205,000
2,471,603 2,447,234

CURRENT ASSETS
Stocks 6 4,923,628 3,942,614
Debtors 7 980,888 1,032,553
Cash at bank and in hand 532,594 1,524,893
6,437,110 6,500,060
CREDITORS
Amounts falling due within one year 8 1,097,230 1,415,489
NET CURRENT ASSETS 5,339,880 5,084,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,811,483

7,531,805

CREDITORS
Amounts falling due after more than one
year

9

(36,045

)

-

PROVISIONS FOR LIABILITIES 13 (84,040 ) (84,660 )
NET ASSETS 7,691,398 7,447,145

CAPITAL AND RESERVES
Called up share capital 14 10,000 10,000
Revaluation reserve 15 97,901 101,059
Retained earnings 15 7,583,497 7,336,086
SHAREHOLDERS' FUNDS 7,691,398 7,447,145

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:





Mr D Stephenson - Director


Columbia Metals Limited (Registered number: 00700585)

Notes to the Financial Statements
for the year ended 31 October 2024

1. STATUTORY INFORMATION

Columbia Metals 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 as modified by the revaluation of certain assets.

The financial statements are presented in Sterling (£) and cover the period to 31st October each year.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 represents the invoiced amount of metal sold and services provided stated net of value added tax. The turnover and pre tax profit is wholly attributable to metal merchanting activities and is recognised upon evidence of delivery.

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.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the income statement.

Stocks
Stocks are stated at the lower of cost and net realisable value, being estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is 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 and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at undiscounted cost less impairment losses for bad and doubtful debts.

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

Columbia Metals Limited (Registered number: 00700585)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

2. ACCOUNTING POLICIES - continued

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 24 ) .

Columbia Metals Limited (Registered number: 00700585)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 November 2023 2,200,885 387,236 167,745 2,755,866
Additions - 25,224 97,807 123,031
Disposals - - (48,226 ) (48,226 )
At 31 October 2024 2,200,885 412,460 217,326 2,830,671
DEPRECIATION
At 1 November 2023 201,984 234,943 76,705 513,632
Charge for year 30,912 23,525 34,488 88,925
Eliminated on disposal - - (38,489 ) (38,489 )
At 31 October 2024 232,896 258,468 72,704 564,068
NET BOOK VALUE
At 31 October 2024 1,967,989 153,992 144,622 2,266,603
At 31 October 2023 1,998,901 152,293 91,040 2,242,234

Cost or valuation at 31 October 2024 is represented by:

Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
Valuation in 2017 134,836 - - 134,836
Cost 2,066,049 412,460 217,326 2,695,835
2,200,885 412,460 217,326 2,830,671

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 20,164 20,164
Aggregate depreciation 7,662 7,259

To determine the value of one of the freehold properties, it was independently valued by Lambert Smith Hampton on the basis of open market value as at 19th August, 2016. The directors have agreed that the valuation at this date is appropriate for valuing the property at the year end.

Columbia Metals Limited (Registered number: 00700585)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
Additions 78,108
At 31 October 2024 78,108
DEPRECIATION
Charge for year 9,764
At 31 October 2024 9,764
NET BOOK VALUE
At 31 October 2024 68,344

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 205,000
NET BOOK VALUE
At 31 October 2024 205,000
At 31 October 2023 205,000

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2017 178,332
Cost 26,668
205,000

To determine the fair value of one of the investment properties, it was independently valued by Lambert Smith Hampton on the basis of open market value for existing use and tenants as at 17th August, 2016. The directors have agreed that the valuation at this date is appropriate for valuing the property at the year end.

6. STOCKS
2024 2023
£    £   
Raw materials 4,923,628 3,942,614

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 916,248 792,368
Other debtors 64,640 240,185
980,888 1,032,553

Columbia Metals Limited (Registered number: 00700585)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 21,591 -
Trade creditors 335,680 910,291
Amounts owed to group undertakings 140,283 102,500
Taxation and social security 233,002 279,877
Other creditors 366,674 122,821
1,097,230 1,415,489

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 36,045 -

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 21,591 -
Between one and five years 36,045 -
57,636 -

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 285,176 -
Hire purchase contracts 57,636 -
342,812 -

Other loans forms part of other creditors and consists of an invoice discounting facility. The facility is secured by a fixed charge over the fixed assets and stock, and a floating charge over the other assets of the company.

The hire purchase liabilities are secured upon the assets that they finance and are fully repayable by instalments within three years. They bear an interest rate of 8.31%.

Columbia Metals Limited (Registered number: 00700585)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

12. FINANCIAL INSTRUMENTS

The company does not have significant exposure to liquidity and cash flow risks due to the nature of its trade and its cash reserves. Exposure to foreign currency, credit, market and interest rate risks arise in the normal course of the company's business. These risks are limited by the company's financial management policies and practices described below.

Foreign currency risk
The company is exposed to foreign currency risk as some of its customers are invoiced in currencies other than Sterling. The risk is mitigated by selling foreign currency as and when the exchange rate favours the company and buying in the foreign currencies wherever possible.

Credit risk
The company has exposure to credit risks predominately emanating from its customers. The company's exposure and its customers' credit worthiness is monitored so that any potential problems are detected at an early stage. Regular billing helps to ensure that the exposure to credit risk is minimised.

Market risk
There is a market risk associated with the fluctuation in demand for the products provided by the company. Most of this is mitigated by monitoring the markets to ensure that overheads and costs are tailored to the demand for the services offered.

Interest rate risk
The company is exposed to interest rate risk through the impact of rate changes on interest bearing borrowings. The invoice discounting facility and the hire purchase contract are liabilities impacted by this risk. The rates on these liabilities are negotiated on the best terms achievable at the time, and by fixing the hire purchase contract the sensitivity to a change in rates is removed.

The company holds no derivative financial instruments at the year end.

13. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 84,040 84,660

Deferred
tax
£   
Balance at 1 November 2023 84,660
Release of deferred tax (425 )
Credit to income statement (195 )
Balance at 31 October 2024 84,040

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 shares 1 10,000 10,000

Columbia Metals Limited (Registered number: 00700585)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

15. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 November 2023 7,336,086 101,059 7,437,145
Profit for the year 412,753 - 412,753
Dividends (168,500 ) - (168,500 )
Release of deferred tax (425 ) 425 -
Depreciation on revaluations
written back 3,583 (3,583 ) -
At 31 October 2024 7,583,497 97,901 7,681,398

16. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified and signed by Mr Robert Dearing BEng FCA (Senior Statutory Auditor), for and on behalf of Clifford Roberts Chartered Accountants.

17. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable to the fund and amounted to £45,190 (2023: £42,021). Contributions totalling £5,114 (2023: £4,745) were payable to the fund at the reporting date.

18. CONTINGENT LIABILITIES

There is a contingent liability in respect of a mortgage debenture in favour of the National Westminster Bank plc dated 3rd July, 1992, incorporating a fixed and floating charge over all current and future assets of the company.

19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
Mr D Stephenson
Balance outstanding at start of year - -
Amounts advanced 436,347 -
Amounts repaid (436,347 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Interest of £9,818 was paid on the amounts advanced above.

20. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is Columbia Metals Holdings Limited whose registered address is Unit E Ronald Close Woburn Road Industrial Estate, Kempston, Bedford, England, MK42 7SH. Columbia Metals Holdings Limited is a company registered in England and is the parent company of a small group.