REGISTERED NUMBER: 00624771 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

R P COLMAN & CO LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

15,000

-

Tangible assets

5

484,828

282,538

Investments

6

1

1

499,829

282,539

CURRENT ASSETS

Stocks

1,231,571

950,071

Debtors

7

864,912

734,849

Cash at bank

35,835

83,218

2,132,318

1,768,138

CREDITORS

Amounts falling due within one year

8

1,840,309

1,488,302

NET CURRENT ASSETS

292,009

279,836

TOTAL ASSETS LESS CURRENT LIABILITIES

791,838

562,375

CREDITORS

Amounts falling due after more than one year

9

(276,727

)

(44,388

)

PROVISIONS FOR LIABILITIES

(138,568

)

(147,282

)

NET ASSETS

376,543

370,705

CAPITAL AND RESERVES

Called up share capital

11

8,000

8,000

Revaluation reserve

12

94,881

108,436

Retained earnings

273,662

254,269

SHAREHOLDERS' FUNDS

376,543

370,705

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

W R Colman - Director

1.	STATUTORY INFORMATION

R P Colman & Co Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

00624771

Registered office:

Roundwell Works

Dereham Road

Norwich

Norfolk

NR5 0SQ

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 which is the functional currency of the company and rounded to the nearest £.

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 represents net invoiced sales of goods and the fair value of services provided during the year. Turnover is recognised as contract activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from clients. Turnover excludes value added tax.

Unbilled turnover on individual contracts is included as accrued income within debtors.

Intangible assets

Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is calculated from the time when the assets are brought into use, using the straight-line method, to allocate the depreciable amount of the assets to their residual values over their estimated useful lives, as follows:

Other intangible assets

-

3 years

Tangible assets

Tangible assets under the cost model are stated at historical cost less accumulated depreciation and accumulated impairment losses. Historical cost includes the original purchase price of the asset plus costs attributable to bringing the asset to its working condition for its intended use.

Tangible assets under the revaluation model are stated at fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is charged from the time when tangible assets are brought into use and is calculated so as to write off the cost of fixed assets, less their estimated residual values, over the expected useful economic lives of the assets concerned. The principal annual rates used for this purpose are as follows:

Plant and machinery etc

-

20% on cost, 12.5% on reducing balance, 10% on cost and straight line over the term of the lease

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments

Investments held as fixed asset investments are stated at cost less provision for any permanent diminution in value.

Invoice discounting

Where debts are invoice discounted, the gross amount of debts due from customers is included within trade debtors with the advances received from invoice discounting shown as a liability.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

53,860

Additions

15,000

At 31 December 2024

68,860

AMORTISATION

At 1 January 2024

and 31 December 2024

53,860

NET BOOK VALUE

At 31 December 2024

15,000

At 31 December 2023

-

5.	TANGIBLE ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

-

998,527

998,527

Additions

240,465

6,436

246,901

Disposals

-

(403,768

)

(403,768

)

At 31 December 2024

240,465

601,195

841,660

DEPRECIATION

At 1 January 2024

-

715,989

715,989

Charge for year

1,002

36,745

37,747

Eliminated on disposal

-

(396,904

)

(396,904

)

At 31 December 2024

1,002

355,830

356,832

NET BOOK VALUE

At 31 December 2024

239,463

245,365

484,828

At 31 December 2023

-

282,538

282,538

Cost or valuation at 31 December 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2022

-

165,236

165,236

Cost

240,465

435,959

676,424

240,465

601,195

841,660

The net carrying amount of assets included in plant and machinery etc given as security against bank loans is £98,938 (2023 - £113,073).

6.	INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

1

NET BOOK VALUE

At 31 December 2024

1

At 31 December 2023

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

806,208

656,912

Other debtors

58,704

77,937

864,912

734,849

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

35,223

32,926

Trade creditors

1,072,636

906,054

Taxation and social security

39,400

58,439

Other creditors

693,050

490,883

1,840,309

1,488,302

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

9,165

44,388

Amounts owed to group undertakings

170,614

-

Other creditors

96,948

-

276,727

44,388

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Other creditors

599,793

425,841

Bank loans

44,388

77,314

644,181

503,155

Other creditors are secured by a debenture contained fixed and floating charges.

Bank loans are secured against the assets as detailed in note 6.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,150

Ordinary A

£1

1,150

1,150

1,100

Ordinary B

£1

1,100

1,100

1,267

Ordinary C

£1

1,267

1,267

583

Ordinary D

£1

583

583

3,900

Ordinary E

£1

3,900

3,900

8,000

8,000

12.

RESERVES

Revaluation

reserve

£

At 1 January 2024

108,436

Transfer

(13,555

)

At 31 December 2024

94,881

13.	PENSION COMMITMENTS

At 31 December 2024, included in other creditors falling due within one year are unpaid contributions of £1,937 (2023 - £1,773) due to a defined contribution pension scheme.

14.	OTHER FINANCIAL COMMITMENTS

At 31 December 2024, the company had total financial commitments which are not included in the balance sheet of £643,135 (2023 - £94,161), of which an amount of £97,335 (2023 - £46,026) is committed to be paid within one year.

15.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

A J Colman and J P Colman

Balance outstanding at start of year

-

18,636

Amounts repaid

-

(18,636

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

W R Colman

Balance outstanding at start of year

10,000

10,000

Amounts advanced

10,000

10,000

Amounts repaid

(10,000

)

(10,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

10,000

10,000

The above loans are unsecured, repayable on demand and subject to interest charges at HM Revenue and Customs' official rate of interest on any beneficial overdrawn loan account by the company.

16.	RELATED PARTY DISCLOSURES

17.	CONTROLLING PARTY