REGISTERED NUMBER: 00571563 (England and Wales)

COLEMAN BROS. WHOLESALE WALLPAPERS

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R L Coleman

R D Coleman

D Smith

REGISTERED OFFICE:

Station Approach

Windmill Lane, Cheshunt

Waltham Cross

Hertfordshire

EN8 9AX

REGISTERED NUMBER:

00571563 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

FIXED ASSETS

Tangible assets

4

4,927

6,146

CURRENT ASSETS

Stocks

1,283,076

914,514

Debtors

5

1,292,911

765,767

2,575,987

1,680,281

CREDITORS

Amounts falling due within one year

6

1,848,191

1,094,964

NET CURRENT ASSETS

727,796

585,317

TOTAL ASSETS LESS CURRENT LIABILITIES

732,723

591,463

CREDITORS

Amounts falling due after more than one year

7

-

(1,874

)

PROVISIONS FOR LIABILITIES

(75,286

)

-

NET ASSETS

657,437

589,589

CAPITAL AND RESERVES

Called up share capital

9

500

500

Retained earnings

656,937

589,089

SHAREHOLDERS' FUNDS

657,437

589,589

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 23 September 2025 and were signed on its behalf by:

R L Coleman - Director

R D Coleman - Director

1.	STATUTORY INFORMATION

Coleman Bros. Wholesale Wallpapers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

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.

The presentation currency is £ Sterling.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

12.5% on cost

Plant and machinery

-

15% on reducing balance and 10% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

at variable rates on reducing balance

Computer equipment

-

at varying rates on cost

Stocks

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

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 27 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 January 2024

and 31 December 2024

10,614

2,750

45,260

DEPRECIATION

At 1 January 2024

10,614

2,710

45,099

Charge for year

-

6

24

At 31 December 2024

10,614

2,716

45,123

NET BOOK VALUE

At 31 December 2024

-

34

137

At 31 December 2023

-

40

161

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

95,966

20,420

175,010

DEPRECIATION

At 1 January 2024

90,021

20,420

168,864

Charge for year

1,189

-

1,219

At 31 December 2024

91,210

20,420

170,083

NET BOOK VALUE

At 31 December 2024

4,756

-

4,927

At 31 December 2023

5,945

-

6,146

The net book value of tangible fixed assets includes £ 15,049 (2023 - £ 15,049 ) in respect of assets held under hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

911,719

765,767

Other debtors

203,985

-

Prepayments

177,207

-

1,292,911

765,767

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

37,461

Hire purchase contracts

13,874

17,584

Trade creditors

1,131,791

402,467

Tax

3,933

3,933

Social security and other taxes

26,271

16,662

VAT

114,477

95,556

Other creditors

43,025

49,358

Amounts owed to group undertakings

38,376

38,376

Accrued expenses

476,444

433,567

1,848,191

1,094,964

Some amounts due to creditors are, or may be, secured by the reservation by the supplier of legal title to the goods supplied, and to the proceeds of their sale. The amounts secured in this way depend on the legal interpretation of individual contracts and cannot readily be determined.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

-

1,874

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdraft

-

37,461

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

500

Ordinary £1

1

500

500

10.	CONTINGENT LIABILITIES

A cross guarantee and debenture is in place between Coleman Home Decorating Centres Limited (now dormant) and Coleman Bros. Wholesale Wallpapers Limited.

11.	RELATED PARTY DISCLOSURES

During the year commercial rent of £68,512 (2024: £68,512) was paid to Coleman Bros. (Chesthunt) Limited. The directors hold shares in Coleman Bros. (Chesthunt) Limited and R L Coleman is a director of that company.

At the balance sheet date, creditors and debtors includes a net amount of £194,992 (2024: £329,615) due to Coleman Bros. (Chesthunt) Limited.

12.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the year by the directors, by virtue of their shareholdings in Coleman Bros. Group Limited.