Company No: 01147089 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	425,421		444,100
Investment property	4	860,000		860,000
		1,285,421		1,304,100
Current assets
Stocks		45,448		45,448
Debtors	5	173,685		116,922
Cash at bank and in hand		14,880		46,453
		234,013		208,823
Creditors: amounts falling due within one year	6	( 224,269)		( 220,363)
Net current assets/(liabilities)		9,744		(11,540)
Total assets less current liabilities		1,295,165		1,292,560
Creditors: amounts falling due after more than one year	7	0		( 834)
Net assets		1,295,165		1,291,726
Capital and reserves
Called-up share capital		46,500		46,500
Revaluation reserve	8	240,236		241,673
Fair value reserve	8	573,536		573,536
Profit and loss account		434,893		430,017
Total shareholders' funds		1,295,165		1,291,726

For the financial year ending 30 April 2026 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of W Coombes & Sons (Contractors) Limited (registered number: 01147089) were approved and authorised for issue by the Board of Directors on 19 August 2026. They were signed on its behalf by:

S C Coombes Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

W Coombes & Sons (Contractors) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Newlands, Station Rd, Ilminster, TA19 9AU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Retentions are recognised when the relevant contract is invoiced and provisions are made for any losses related to these retentions.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	0 - 50 years straight line
Plant and machinery	20 % reducing balance
Vehicles	25 % reducing balance
Office equipment	33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Leases

The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost consists of raw materials. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Amounts recoverable on long term contracts, which are included in debtors, are stated at new sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on accounts. Excess progress payments are included in creditors as payments on account.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	20		20

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£
Cost
At 01 May 2025	350,000		459,718		242,315		1,850		1,053,883
Additions	0		0		7,000		1,272		8,272
At 30 April 2026	350,000		459,718		249,315		3,122		1,062,155
Accumulated depreciation
At 01 May 2025	10,500		430,609		167,764		910		609,783
Charge for the financial year	1,750		5,837		18,784		580		26,951
At 30 April 2026	12,250		436,446		186,548		1,490		636,734
Net book value
At 30 April 2026	337,750		23,272		62,767		1,632		425,421
At 30 April 2025	339,500		29,109		74,551		940		444,100

Revaluation of tangible assets

The fair value of the company's freehold land and buildings was last revalued on 27 March 2019 by an independent valuer. The valuation was conducted at current open market value. The directors consider that the fair value of the freehold land and buildings has not materially changed since this date.

Had this class of asset been measured on a historical cost basis, the carrying amount would have been £95,597 (2025 - £95,910).

The deferred tax attributable to the revalued freehold land and buildings has been considered and £7,644 (2025– £7,644) has been provided for in the financial statements.

4. Investment property

	Investment property
	£
Valuation
As at 01 May 2025	860,000
As at 30 April 2026	860,000

Valuation

Investment properties were last revalued on 30 April 2021 by the directors. The valuation was conducted at current open market value.

The directors consider that the fair value of the investment properties has not materially changed since this date.

5. Debtors

	2026		2025
	£		£
Trade debtors	71,728		25,532
Amounts recoverable on contracts	63,899		51,539
Prepayments	13,068		11,829
Deferred tax asset	24,990		28,022
	173,685		116,922

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	834		10,000
Trade creditors	117,937		125,512
Amounts owed to connected companies	9,577		14,577
Accruals	7,743		7,523
Other taxation and social security	87,559		50,273
Payments received on account	0		12,478
Other creditors	619		0
	224,269		220,363

Amounts owed to connected companies are repayable on demand and do not bear interest.

7. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans	0		834

Within bank loans is a balance of £834 (2025 - £10,834) relating to an outstanding amount due from a Coronavirus Bounce Back Loan. The UK government have guaranteed 100% of the value of the loan.

8. Changes in equity

	Revaluation reserve		Fair value reserve
	£		£
At 01 May 2025	241,673		573,536
Transfer of depreciation on revaluation to Profit and Loss account	( 1,437)
Total comprehensive income	( 1,437)		0
At 30 April 2026	240,236		573,536
At 01 May 2024	243,110		573,536
Transfer of depreciation on revaluation to Profit and Loss account	( 1,437)
Total comprehensive loss	( 1,437)		0
At 30 April 2025	241,673		573,536