Colvin and Moggridge Limited - Filleted accounts

COLVIN AND MOGGRIDGE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2022

Company Registration Number: 03758543

COLVIN AND MOGGRIDGE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
CONTENTS									PAGES
Company information									1
Balance sheet									2 to 3
Notes to the financial statements									4 to 9

COLVIN AND MOGGRIDGE LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022
DIRECTORS
M R Darwent
P M Bhatia
Mrs C L Broom
SECRETARY
Ms S J Herbert
REGISTERED OFFICE
Little Peacocks
Filkins
Lechlade
Gloucestershire
GL7 3JQ
COMPANY REGISTRATION NUMBER
03758543 England and Wales

COLVIN AND MOGGRIDGE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2022
			Notes		2022				2021
					£				£
FIXED ASSETS
Tangible assets			5				27,246				29,078
CURRENT ASSETS
Debtors			6		313,279				168,191
Cash at bank and in hand					612,322				691,485
					925,601				859,676
CREDITORS: Amounts falling due within one year			7		364,468				362,639
NET CURRENT ASSETS							561,133				497,037
TOTAL ASSETS LESS CURRENT LIABILITIES							588,379				526,115
Provisions for liabilities and charges							5,061				5,389
NET ASSETS							583,318				520,726
CAPITAL AND RESERVES
Called up share capital							20				20
Distributable profit and loss account							582,298				519,706
Capital redemption reserve							1,000				1,000
SHAREHOLDERS' FUNDS							583,318				520,726

COLVIN AND MOGGRIDGE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2022
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors' Report.
Signed on behalf of the board of directors
M R Darwent						P M Bhatia
Director						Director
Date approved by the board: 24 November 2022

COLVIN AND MOGGRIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
1	GENERAL INFORMATION
	Colvin and Moggridge Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
	Little Peacocks
	Filkins
	Lechlade
	Gloucestershire
	GL7 3JQ
	The financial statements are presented in Sterling, which is the functional currency of the company.
2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of preparation of financial statements
	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
	Revenue recognition

	Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of technical consultancy and landscape architect services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.
	The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.

	Tangible fixed assets

	Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

	Depreciation has been provided at the following rates so as to write off the cost or valuation of the assets less their residual value over their estimated useful lives.
	Office equipment					Reducing balance basis at 15% per annum
	Computer equipment and website					Reducing balance basis at 33% and 20% per annum
	On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.

COLVIN AND MOGGRIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
	Financial Instruments
	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
	Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

	Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
	Impairment of non-financial assets

	At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.

	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors
	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.

COLVIN AND MOGGRIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
	Leases
	Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.
	Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.
	Taxation
	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
	Deferred tax is measured using 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.

	Current and deferred tax assets and liabilities are not discounted.
	Provisions
	A provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use is recognised. The provision is measured at the salary cost payable for the period of absence.
	Pensions
	The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.

COLVIN AND MOGGRIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

4	EMPLOYEES
	The average number of persons employed by the company (including directors) during the year was:
									2022		2021
	Average number of employees								15		15
5	TANGIBLE ASSETS
							Office equipment	Computer equipment and website			Total
							£		£		£
	Cost
	At 1 April 2021						32,805		163,294		196,099
	Additions						-		10,546		10,546
	Disposals						(3,540)		(5,417)		(8,957)
	At 31 March 2022						29,265		168,423		197,688
	Accumulated depreciation
	At 1 April 2021						25,777		141,244		167,021
	Charge for year						780		7,557		8,337
	Disposals						(1,618)		(3,298)		(4,916)
	At 31 March 2022						24,939		145,503		170,442
	Net book value
	At 1 April 2021						7,028		22,050		29,078
	At 31 March 2022						4,326		22,920		27,246
6	DEBTORS
									2022		2021
									£		£
	Trade debtors								147,943		29,389
	Prepayments and accrued income								10,863		13,560
	Amounts recoverable on contracts								102,856		116,494
	Other debtors								51,617		8,748
									313,279		168,191

COLVIN AND MOGGRIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
7	CREDITORS: Amounts falling due within one year
									2022		2021
									£		£
	Trade creditors								5,609		21,161
	Taxation and social security								138,680		158,069
	Accruals and deferred income								97,853		82,108
	Other creditors								122,326		101,301
									364,468		362,639
8	CONTINGENCIES AND COMMITMENTS
	Other Commitments
	Amounts falling due under operating leases:								2022		2021
									£		£
	In less than one year								13,000		26,000
	In more than one but less than five years								52,000		104,000
	In more than five years								4,025		74,442
									69,025		204,442
9	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
	The following directors' advances, credits and guarantees took place during the year:
					Balance at 1 April 2021		Amounts advanced		Amounts repaid		Balance at 31 March 2022
					£		£		£		£
	P M Bhatia				2,285		-		2,285		-
	Mrs C L Broom				555		-		555		-
					2,840		-		2,840		-

	These advances are interest free and repayable on demand.

COLVIN AND MOGGRIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

10	RELATED PARTY TRANSACTIONS
	During the year, the following transactions with related parties took place:
	P M Bhatia		The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount:
	Director and shareholder								2022		2021
									£		£
	Advances from director								2,285		-
	Mrs C L Broom		The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount:
	Director and shareholder								2022		2021
									£		£
	Advances from director								587		-
	Maroda Limited		The parent company has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed its parent the following amount:
	Parent company								2022		2021
									£		£
	Advances from parent								119,454		101,301