Colvin and Moggridge Limited - Filleted accounts

COLVIN AND MOGGRIDGE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2021

Company Registration Number: 03758543

COLVIN AND MOGGRIDGE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
CONTENTS									PAGES
Company information									1
Balance sheet									2 to 3
Notes to the financial statements									4 to 8

COLVIN AND MOGGRIDGE LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2021
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 2021
			Notes		2021				2020
					£				£
FIXED ASSETS
Tangible assets			5				29,078				32,708
CURRENT ASSETS
Debtors			6		168,191				233,447
Cash at bank and in hand					691,485				454,314
					859,676				687,761
CREDITORS: Amounts falling due within one year			7		362,639				277,452
NET CURRENT ASSETS							497,037				410,309
TOTAL ASSETS LESS CURRENT LIABILITIES							526,115				443,017
Provisions for liabilities and charges							5,389				6,055
NET ASSETS							520,726				436,962
CAPITAL AND RESERVES
Called up share capital							20				20
Distributable profit and loss account							519,706				435,942
Capital redemption reserve							1,000				1,000
SHAREHOLDERS' FUNDS							520,726				436,962

COLVIN AND MOGGRIDGE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2021
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 2021 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: 31 August 2021

COLVIN AND MOGGRIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
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 2021
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 2021
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 2021

4	EMPLOYEES
	The average number of persons employed by the company (including directors) during the year was:
									2021		2020
	Average number of employees								15		17
5	TANGIBLE ASSETS
							Office equipment	Computer equipment and website			Total
							£		£		£
	Cost
	At 1 April 2020						33,109		168,092		201,201
	Additions						-		6,834		6,834
	Disposals						(304)		(11,632)		(11,936)
	At 31 March 2021						32,805		163,294		196,099
	Accumulated depreciation
	At 1 April 2020						24,816		143,677		168,493
	Charge for year						1,241		8,747		9,988
	Disposals						(280)		(11,180)		(11,460)
	At 31 March 2021						25,777		141,244		167,021
	Net book value
	At 1 April 2020						8,293		24,415		32,708
	At 31 March 2021						7,028		22,050		29,078
6	DEBTORS
									2021		2020
									£		£
	Trade debtors								29,389		91,943
	Prepayments and accrued income								13,560		12,387
	Amounts recoverable on contracts								116,494		96,840
	Other debtors								8,748		32,277
									168,191		233,447

COLVIN AND MOGGRIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
7	CREDITORS: Amounts falling due within one year
									2021		2020
									£		£
	Trade creditors								21,161		20,973
	Taxation and social security								158,069		123,024
	Amounts owed to group undertakings								101,301		81,816
	Accruals and deferred income								82,108		51,639
									362,639		277,452
8	CONTINGENCIES AND COMMITMENTS
	Other Commitments
	Amounts falling due under operating leases:								2021		2020
									£		£
	In less than one year								26,000		26,000
	In more than one but less than five years								104,000		104,000
	In more than five years								74,442		100,442
									204,442		230,442
9	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
	The following directors' advances, credits and guarantees took place during the year:
					Balance at 1 April 2020		Amounts advanced		Amounts repaid		Balance at 31 March 2021
					£		£		£		£
	P M Bhatia				18,572		272		16,559		2,285
	Mrs C L Broom				2,840		-		2,285		555
					21,412		272		18,844		2,840

	One of these advances is interest free and repayable on demand.
	Interest has been charged on one of these advances at the beneficial loan arrangement official rate as prescribed by HM Revenue and Customs. This advance is repayable on demand.