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Registration number: 02947887

John Collis Builders Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

John Collis Builders Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

John Collis Builders Limited

(Registration number: 02947887)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

43,307

-

Investment property

5

321,350

370,000

Investments

6

-

509

 

364,657

370,509

Current assets

 

Stocks

7

122,499

211,958

Debtors

8

1,471,637

2,388,103

Cash at bank and in hand

 

29,093

-

 

1,623,229

2,600,061

Creditors: Amounts falling due within one year

9

(566,976)

(1,465,975)

Net current assets

 

1,056,253

1,134,086

Total assets less current liabilities

 

1,420,910

1,504,595

Provisions for liabilities

(15,160)

(32,518)

Net assets

 

1,405,750

1,472,077

Capital and reserves

 

Called up share capital

10

100

100

Other reserves

122,678

161,316

Retained earnings

1,282,972

1,310,661

Shareholders' funds

 

1,405,750

1,472,077

For the financial year ending 31 August 2024 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 accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 May 2025 and signed on its behalf by:
 

 

John Collis Builders Limited

(Registration number: 02947887)
Balance Sheet as at 31 August 2024

.........................................
J T Collis
Director

.........................................
V M A Lee
Director

 

John Collis Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The Company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
1a Jonathans Garth
Tetney
Grimsby
Lincolnshire
DN36 5GA

These financial statements were authorised for issue by the Board on 23 May 2025.

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.

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).

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.

These financial statements have been prepared for the individual entity and are presented in Pound Sterling and rounded to the nearest pound.

Summary of disclosure exemptions

During the year, the company was a parent company and was both eligible to and has chosen not to prepare group accounts.

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 and deferred 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.

 

John Collis Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

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

Motor vehicles

25% reducing balance

Plant and machinery

15% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate as determined by the directors. The value uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Stocks

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 3 (2023 - 3).

 

John Collis Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

Additions

19,364

38,019

57,383

Disposals

(5,274)

-

(5,274)

At 31 August 2024

14,090

38,019

52,109

Depreciation

Charge for the year

881

7,921

8,802

At 31 August 2024

881

7,921

8,802

Carrying amount

At 31 August 2024

13,209

30,098

43,307

5

Investment properties

2024
£

At 1 September

370,000

Fair value adjustments

(48,650)

At 31 August

321,350

The properties were revalued soon after the year end in order to sell them, and at that point the fair value was determined to be £321,350.

There has been no valuation of investment property by an independent valuer.

 

John Collis Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

-

509

Subsidiaries

£

Cost or valuation

At 1 September 2023

509

Disposals

(509)

At 31 August 2024

-

Provision

Carrying amount

At 31 August 2024

-

At 31 August 2023

509

7

Stocks

2024
£

2023
£

Work in progress

122,499

211,958

8

Debtors

Current

2024
£

2023
£

Trade debtors

228,557

309,548

Prepayments

1,456

2,612

Other debtors

1,241,624

2,075,943

 

1,471,637

2,388,103

 

John Collis Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

458,897

1,196,789

Trade creditors

 

89,415

135,956

Taxation and social security

 

5,108

1,352

Accruals and deferred income

 

10,550

17,073

Other creditors

 

3,006

114,805

 

566,976

1,465,975

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £nil (2023- £180,000).

The director has personally guaranteed loans of £100,000 (2023 - £100,000).

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

11

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

249,789

Other borrowings

458,897

947,000

458,897

1,196,789