Collins & Curtis Masonry Limited - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 03805614 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

COLLINS & CURTIS MASONRY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M H Holland

R F Lowe

P J Smyth

REGISTERED OFFICE:

Eves Corner

Little Baddow Road

Danbury

Chelmsford

Essex

CM3 4QB

REGISTERED NUMBER:

03805614 (England and Wales)

SENIOR STATUTORY AUDITOR:

Lee Daley ACA FCCA

AUDITORS:

THP Limited

Chartered Accountants

and Statutory Auditors

Unit 4 Mulgrave Chambers

26-28 Mulgrave Road

Sutton

Surrey

SM2 6LE

CURRENT ASSETS

Stocks

63,972

44,308

Debtors

5

335,419

333,950

Cash at bank and in hand

7,225

34,017

406,616

412,275

CREDITORS

Amounts falling due within one year

6

695,185

647,334

NET CURRENT LIABILITIES

(288,569

)

(235,059

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(288,569

)

(235,059

)

CAPITAL AND RESERVES

Called up share capital

331,002

331,002

Retained earnings

(619,571

)

(566,061

)

(288,569

)

(235,059

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 June 2023 and were signed on its behalf by:

P J Smyth - Director

1.	STATUTORY INFORMATION

Collins & Curtis Masonry 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than twelve months from the approval of these accounts.

At the period end, the company had net liabilities of £288,569 (2021 : £235,059 net liabilities). The company meets its day to day working capital requirements through financial support provided from its parent company. The directors have been assured that financial support from the parent company will continue to be made available for at least the next twelve months from the date of approval of the financial statements and that it will provide support for the foreseeable future. Collins and Curtis Limited is of significant strategic importance to the Group and therefore the directors of the group are prepared to continue to support this company on that basis.

The directors, having considered all the information available, are confident that the company has adequate support from its parent company and resources thereto to continue its operational activities for the foreseeable future.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

Amounts recoverable on contracts

Revenue from amounts recoverable on contracts is based on the completion stage of those contracts which is based on the costs incurred to date. The stage of completion is calculated by comparing actual costs incurred, mainly in relation to labour and materials, as a proportion of total final expected costs and by using this percentage of completion, an adjustment is made for to recognise the appropriate revenue.

Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Government grants

Government grants are accounted for using the accruals basis.

Stocks

Stock is stated at the lower of cost and estimated selling price, after making due allowance for obsolete and slow moving items. Stocks are recognised as an expense in the period in which the related revenue is recognised.

Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Leasing commitments

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2021 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 October 2021

70,445

4,250

15,770

90,465

Disposals

-

-

(4,620

)

(4,620

)

At 30 September 2022

70,445

4,250

11,150

85,845

DEPRECIATION

At 1 October 2021

70,445

4,250

15,770

90,465

Eliminated on disposal

-

-

(4,620

)

(4,620

)

At 30 September 2022

70,445

4,250

11,150

85,845

NET BOOK VALUE

At 30 September 2022

-

-

-

-

At 30 September 2021

-

-

-

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

48,297

47,670

Amounts recoverable on contracts

27,046

32,920

Other debtors

3,750

-

Amounts due from group undertakings

229,421

216,224

VAT

-

27,734

Deferred tax asset

Decelerated capital allowances

348

545

Prepayments and accrued income

26,557

8,857

335,419

333,950

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

55,029

52,878

Amounts owed to group undertakings

601,025

553,371

Social security and other taxes

4,701

4,297

VAT

12,191

-

Other creditors

5,959

13,271

Accruals and deferred income

16,280

23,517

695,185

647,334

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2022

2021

£

£

Within one year

44,880

44,880

Between one and five years

145,860

179,520

In more than five years

-

33,660

190,740

258,060

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Lee Daley ACA FCCA (Senior Statutory Auditor)

for and on behalf of THP Limited

9.	PARENT COMPANY

The company is a 100% owned subsidiary of Bakers of Danbury Limited which is both the immediate and ultimate parent company and is incorporated in England and Wales.

Registered address : Eves Corner, Danbury, Chelmsford, Essex, CM3 4BQ.