Collard Construction Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 7

Collard Construction Limited

(Registration number: 02980918)
Statement of Financial Position as at 30 June 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	36,185	49,511
Current assets
Stocks		268,856	223,933
Debtors	5	216,337	315,164
Cash at bank and in hand		6	6
		485,199	539,103
Creditors: Amounts falling due within one year	6	(370,338)	(489,268)
Net current assets		114,861	49,835
Total assets less current liabilities		151,046	99,346
Creditors: Amounts falling due after more than one year	6	-	(1,007)
Net assets		151,046	98,339
Capital and reserves
Called up share capital		100	100
Profit and loss account		150,946	98,239
Shareholders' funds		151,046	98,339

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 16 December 2025
 

A G Ryeland Director

Collard Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is building contractors.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 value added tax, returns, rebates and discounts.

Turnover is recognised when the contract is complete or an interim valuation has been assessed by a third party.

Collard Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position 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
Leasehold property improvements	Over 5 years
Plant and machinery	15% reducing balance
Motor vehicles	25% reducing balance
Computer equipment	25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks is measured at the lower of cost and estimated selling price less costs to complete and sell. It is valued on a first in and first out basis. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Work in progress is valued on the materials purchased and subcontractors relating to the contract plus an appropriate rate for labour. At each reporting date, stock and work in progress 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.

Collard Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)

2	Accounting policies (continued)

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 statement of comprehensive income 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 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 statement of financial position as a finance lease obligation.

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

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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Collard Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2024 - 13).

4	Tangible assets

	Leasehold property improvements £	Computer equipment £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 July 2024	17,953	7,742	65,068	155,593	246,356
Disposals	-	(4,819)	(13,769)	-	(18,588)
At 30 June 2025	17,953	2,923	51,299	155,593	227,768
Depreciation
At 1 July 2024	17,953	6,990	51,199	120,703	196,845
Charge for the year	-	348	2,061	8,724	11,133
Eliminated on disposal	-	(4,819)	(11,576)	-	(16,395)
At 30 June 2025	17,953	2,519	41,684	129,427	191,583
Carrying amount
At 30 June 2025	-	404	9,615	26,166	36,185
At 30 June 2024	-	752	13,869	34,890	49,511

Collard Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)

5

Debtors

	2025 £	2024 £
Trade debtors	207,896	304,116
Other debtors	8,441	11,048
	216,337	315,164

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Loans and borrowings	8	47,951	147,290
Trade creditors		148,879	187,531
Taxation and social security		36,622	24,818
Other creditors		136,886	129,629
		370,338	489,268

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £47,951 (2024 - £147,290).

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Loans and borrowings	8	-	1,007

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £nil (2024 - £1,007).

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Collard Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)

8	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank overdrafts	46,944	136,225
Finance lease liabilities	1,007	11,065
	47,951	147,290

Non-current loans and borrowings

	2025 £	2024 £
Finance lease liabilities	-	1,007

9	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	6,800	20,400
Later than one year and not later than five years	-	6,800
	6,800	27,200

10	Related party transactions

Transactions with the director

During the year the director entered into the following advances and credits with the company:

2025	At 1 July 2024 £	Advances to director £	Repayments by director £	At 30 June 2025 £
Directors	(47,871)	24,701	(6,312)	(29,482)

2024	At 1 July 2023 £	Repayments by director £	At 30 June 2024 £
Directors	(47,672)	(199)	(47,871)