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Registration number: 08682242

Colvin Builders Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Colvin Builders Ltd

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 8

 

Colvin Builders Ltd

Company Information

Directors

Mr Tobias Colvin-Stunell

Miss S Stunnell

Mr Julian Colvin

Company secretary

Miss S Stunnell

Registered office

36 Polkyth Road
St Austell
Cornwall
PL25 4LW

Accountants

Peter Williams & Co
Chartered Certified AccountantsLatham Park
St Blazey Road
Par
Cornwall
PL24 2HY

 

Colvin Builders Ltd

(Registration number: 08682242)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,548

3,397

Current assets

 

Stocks

60,435

60,435

Debtors

5

11,034

11,786

Cash at bank and in hand

 

1,657

17,494

 

73,126

89,715

Creditors: Amounts falling due within one year

6

(1,278)

(15,280)

Net current assets

 

71,848

74,435

Net assets

 

74,396

77,832

Capital and reserves

 

Called up share capital

7

300

300

Retained earnings

74,096

77,532

Shareholders' funds

 

74,396

77,832

For the financial year ending 30 September 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 and 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 27 June 2025 and signed on its behalf by:
 

.........................................
Mr Julian Colvin
Director

 

Colvin Builders Ltd

Statement of Changes in Equity for the Year Ended 30 September 2024

Share capital
£

Retained earnings
£

Total
£

At 1 October 2023

300

77,532

77,832

Profit for the year

-

18,209

18,209

Dividends

-

(21,645)

(21,645)

At 30 September 2024

300

74,096

74,396

Share capital
£

Retained earnings
£

Total
£

At 1 October 2022

300

79,414

79,714

Loss for the year

-

(1,882)

(1,882)

At 30 September 2023

300

77,532

77,832

 

Colvin Builders Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
36 Polkyth Road
St Austell
Cornwall
PL25 4LW

These financial statements were authorised for issue by the Board on 27 June 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.

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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Plant & Equipment

25% reducing balance

 

Colvin Builders Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Colvin Builders Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Colvin Builders Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

21,492

21,492

At 30 September 2024

21,492

21,492

Depreciation

At 1 October 2023

18,095

18,095

Charge for the year

849

849

At 30 September 2024

18,944

18,944

Carrying amount

At 30 September 2024

2,548

2,548

At 30 September 2023

3,397

3,397

5

Debtors

Current

2024
£

2023
£

Other debtors

11,034

11,786

 

11,034

11,786

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

10,089

Accruals and deferred income

 

760

760

Other creditors

 

518

4,431

 

1,278

15,280

7

Share capital

Allotted, called up and fully paid shares

 

Colvin Builders Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

300

300

300

300

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

-

10,089

9

Dividends

2024

2023

£

£

Interim dividend of £144.30 (2023 - £Nil) per ordinary share

21,645

-