Collicutt Holdings Limited - Limited company accounts 22.3

REGISTERED NUMBER: 11756455 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

For The Year Ended 30 September 2022

for

Collicutt Holdings Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Financial Statements

6

DIRECTORS:

P A Collicutt

R H M Horner

A R D Jamieson

G J Short

REGISTERED OFFICE:

The Georgian House Nizels Lane

Hildenborough

Tonbridge

Kent

TN11 8NW

REGISTERED NUMBER:

11756455 (England and Wales)

ACCOUNTANTS:

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

The directors present their report with the financial statements of the company for the year ended 30 September 2022.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2021 to the date of this report.

P A Collicutt

R H M Horner

A R D Jamieson

G J Short

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

R H M Horner - Director

15 December 2022

TURNOVER

-

OPERATING PROFIT

-

Income from shares in group
undertakings

900,000

733,000

900,000

733,000

Interest payable and similar expenses

11,376

22,905

PROFIT BEFORE TAXATION

888,624

710,095

Tax on profit

-

PROFIT FOR THE FINANCIAL YEAR

888,624

710,095

FIXED ASSETS

Investments

4

1,896,083

CREDITORS

Amounts falling due within one year

5

872,859

1,066,483

NET CURRENT LIABILITIES

(872,859

)

(1,066,483

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,023,224

829,600

CREDITORS

Amounts falling due after more than one
year

6

-

150,000

NET ASSETS

1,023,224

679,600

CAPITAL AND RESERVES

Called up share capital

8

500,000

Retained earnings

523,224

179,600

SHAREHOLDERS' FUNDS

1,023,224

679,600

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2022 and were signed on its behalf by:

R H M Horner - Director

Called up

share

Retained

Total

capital

earnings

equity

£

Balance at 1 October 2020

500,000

119,505

619,505

Changes in equity

Dividends

-

(650,000

)

(650,000

)

Total comprehensive income

-

710,095

Balance at 30 September 2021

500,000

179,600

679,600

Changes in equity

Dividends

-

(545,000

)

(545,000

)

Total comprehensive income

-

888,624

Balance at 30 September 2022

500,000

523,224

1,023,224

1.	STATUTORY INFORMATION

Collicutt Holdings 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.

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.

Investments in subsidiaries

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are measured at transaction price including transaction cost.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies , are recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised at transaction price.

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2021

and 30 September 2022

1,896,083

NET BOOK VALUE

At 30 September 2022

1,896,083

At 30 September 2021

1,896,083

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

Other loans (see note 7)

-

150,000

Amounts owed to group undertakings

302,858

733

Other creditors

202,688

197,500

Deferred consideration

-

225,000

Directors' current accounts

367,313

477,500

Accrued expenses

-

15,750

872,859

1,066,483

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.9.22

30.9.21

£

Other loans (see note 7)

-

150,000

7.

LOANS

An analysis of the maturity of loans is given below:

30.9.22

30.9.21

£

Amounts falling due within one year or on demand:

10% Loan notes

-

150,000

Amounts falling due between one and two years:

10% Loan notes

-

150,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.22

30.9.21

value:

£

500,000

Ordinary

1

500,000