Registration number: 06030974

Colemans Seller Gas Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 12

Colemans Seller Gas Limited

Company Information

Directors

D J Coleman D L Coleman B Coleman

Registered office

The Old Tram Depot Bexhill Road St Leonards On Sea East Sussex TN38 8BG

Accountants

Manningtons 8 High Street Heathfield East Sussex TN21 8LS

Colemans Seller Gas Limited

(Registration number: 06030974)
Balance Sheet as at 31 January 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	5	3,613	8,630
Tangible assets	6	97,138	117,286
		100,751	125,916
Current assets
Stocks	7	16,270	13,849
Debtors	8	73,993	100,042
Cash at bank and in hand		59,015	50,067
		149,278	163,958
Creditors: Amounts falling due within one year	9	(145,056)	(136,411)
Net current assets		4,222	27,547
Total assets less current liabilities		104,973	153,463
Creditors: Amounts falling due after more than one year	9	(8,500)	(27,939)
Provisions for liabilities		(24,285)	(29,322)
Net assets		72,188	96,202
Capital and reserves
Called up share capital		80	80
Retained earnings		72,108	96,122
Shareholders' funds		72,188	96,202

For the financial year ending 31 January 2025 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 9 June 2025 and signed on its behalf by:
 

Colemans Seller Gas Limited

(Registration number: 06030974)
Balance Sheet as at 31 January 2025

......................................... B Coleman Director

Colemans Seller Gas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1	General information

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

The address of its registered office is:
The Old Tram Depot
Bexhill Road
St Leonards On Sea
East Sussex
TN38 8BG
United Kingdom

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The directors intend to contribute to the finances of the business to ensure it continues as a going concern.

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.

Colemans Seller Gas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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 and equipment	20% straight line
Office equipment	20% reducing balance
Fixtures, Fitting and equipment	20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	20 years straight line

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 at the transaction price, 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.

Colemans Seller Gas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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 at the transaction price.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Colemans Seller Gas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2024 - 16).

4

Taxation

Tax charged/(credited) in the income statement

	2025 £	2024 £
Current taxation
UK corporation tax	13,284	3,111
Deferred taxation
Arising from origination and reversal of timing differences	(5,037)	5,853
Tax expense in the income statement	8,247	8,964

Colemans Seller Gas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

5	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 February 2024	100,344	100,344
At 31 January 2025	100,344	100,344
Amortisation
At 1 February 2024	91,714	91,714
Amortisation charge	5,017	5,017
At 31 January 2025	96,731	96,731
Carrying amount
At 31 January 2025	3,613	3,613
At 31 January 2024	8,630	8,630

6	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 February 2024	3,845	6,990	440,954	451,789
Additions	2,179	-	25,050	27,229
At 31 January 2025	6,024	6,990	466,004	479,018
Depreciation
At 1 February 2024	2,985	1,747	329,771	334,503
Charge for the year	609	1,311	45,457	47,377
At 31 January 2025	3,594	3,058	375,228	381,880
Carrying amount
At 31 January 2025	2,430	3,932	90,776	97,138
At 31 January 2024	860	5,243	111,183	117,286

The Company owns approximately 15,000 gas cylinders which are included in Fixtures,Fitting & Equipment and have been depreciated. The directors consider that they have appreciated and have a value of approximately £ 80 each giving a total value of £1,200,000. The company has CO2 tanks and other gas equipment with an approximate value of £250,000.

Colemans Seller Gas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Stocks

	2025 £	2024 £
Other inventories	16,270	13,849

8

Debtors

	Note	2025 £	2024 £
Trade debtors		24,627	13,724
Amounts owed by group undertakings and undertakings in which the company has a participating interest	11	1,730	35,350
Prepayments		430	4,197
Director loan account		47,206	46,771
		73,993	100,042

Colemans Seller Gas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

9

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Bank loans and overdrafts	10	19,439	38,252
Trade creditors		46,874	41,901
Taxation and social security		73,350	51,565
Accruals and deferred income		4,000	3,500
Other creditors		1,393	1,193
		145,056	136,411

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	8,500	27,939

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	13,439
Hire purchase contracts	8,500	14,500
	8,500	27,939

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	13,439	32,252
Hire purchase contracts	6,000	6,000
	19,439	38,252

Bank borrowings

Funding Circle Loan is denominated in £ with a nominal interest rate of 8.91%, and the final instalment is due on 31 May 2025. The carrying amount at year end is £13,439 (2024 - £45,691).

Colemans Seller Gas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

11	Related party transactions

Summary of transactions with parent

Colemans ABC Limited
 i) Colemans ABC Limited has secured the bank loan with Hsbc.
ii) The company pays rent ( inclusive of rates and electricity) to Colemans ABC Limited of £ 14,400 p.a.


 

Summary of transactions with other related parties

Crystal dispensing
A partnership in which D L Coleman has an interest
 Management fees and purchases
 

Income and receivables from related parties

2025	Parent £	Key management £
Amounts receivable from related party	1,730	60,969

2024	Parent £	Key management £
Amounts receivable from related party	35,350	46,770

Expenditure with and payables to related parties

2025	Parent £	Other related parties £
Rendering of services	-	12,000
Leases	14,400	-
	14,400	12,000

2024	Parent £	Other related parties £
Rendering of services	-	12,000
Leases	14,400	-
	14,400	12,000

Colemans Seller Gas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

12	Parent and ultimate parent undertaking

The company holds 63.75% of the issued share capital

 The company's immediate parent is Colemans ABC Limited, incorporated in England and Wales.

  These financial statements are available upon request from The Old Tram Depot
161 Bexhill Road
St Leonard on Sea
East Sussex
TN38 8BG