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COLLINS INCORPORATED LIMITED

Registered Number
SC753621
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2024

COLLINS INCORPORATED LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

Lord Shaun Patrick Collins
Lady Sylvia Wisna-Collins

Registered Address

57 Redlands Road
Tullibody
Alloa
FK10 2QN

Registered Number

SC753621 (Scotland)
COLLINS INCORPORATED LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets321,47928,562
Tangible assets43,6464,861
25,12533,423
Current assets
Stocks-960
Debtors522,47110,378
Cash at bank and on hand8,5065,960
30,97717,298
Creditors amounts falling due within one year6(71,778)(95,562)
Net current assets (liabilities)(40,801)(78,264)
Total assets less current liabilities(15,676)(44,841)
Provisions for liabilities(693)(924)
Net assets(16,369)(45,765)
Capital and reserves
Called up share capital100100
Profit and loss account(16,469)(45,865)
Shareholders' funds(16,369)(45,765)
The financial statements were approved and authorised for issue by the Board of Directors on 12 May 2025, and are signed on its behalf by:
Lady Sylvia Wisna-Collins
Director
Registered Company No. SC753621
COLLINS INCORPORATED LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
The financial statements have been prepared on the going concern basis. The directors find it appropriate for the financial statements to be prepared on this basis despite the net liability position of the company. The company is reliant upon the continued support of the directors who have confirmed that they will continue to support the company as required.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. Intangible assets are amortised over 5 years.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixed assets are stated at cost, being purchase price, less accumulated depreciation.

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Office Equipment25
Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
2.Average number of employees

20242023
Average number of employees during the year25
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 January 2435,41135,411
At 31 December 2435,41135,411
Amortisation and impairment
At 01 January 246,8496,849
Charge for year7,0837,083
At 31 December 2413,93213,932
Net book value
At 31 December 2421,47921,479
At 31 December 2328,56228,562
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 January 243,8021,4154395,656
At 31 December 243,8021,4154395,656
Depreciation and impairment
At 01 January 2465439102795
Charge for year787344841,215
At 31 December 241,4413831862,010
Net book value
At 31 December 242,3611,0322533,646
At 31 December 233,1481,3763374,861
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables20,887-
Prepayments and accrued income280238
Deferred tax asset, debtors1,30410,140
Total22,47110,378
6.Creditors: amounts due within one year

2024

2023

££
Other creditors70,31693,468
Accrued liabilities and deferred income1,4622,094
Total71,77895,562