Collister (North West) Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06425009 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2023

for

Collister (North West) Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Director:

S Collister

Registered office:

Unit 8 Bretton Hall Farm Office

Chester Road

Bretton

Chester

CH4 0DF

Registered number:

06425009 (England and Wales)

Accountants:

Ellis & Co

Chartered Accountants

114-120 Northgate Street

Chester

CH1 2HT

Fixed assets

Tangible assets

4

426

1,699

Current assets

Stocks

61,200

45,000

Debtors

5

630,019

547,019

Cash at bank

77,866

35,639

769,085

627,658

Creditors

Amounts falling due within one year

6

472,302

388,199

Net current assets

296,783

239,459

Total assets less current liabilities

297,209

241,158

Creditors

Amounts falling due after more than one year

7

46,727

88,951

Net assets

250,482

152,207

Capital and reserves

Called up share capital

100

100

Retained earnings

250,382

152,107

250,482

152,207

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 January 2024 and were signed by:

S Collister - Director

1.	Statutory information

Collister (North West) Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

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

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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.

3.	Employees and directors

The average number of employees during the year was 6 (2022 - 6 ) .

4.	Tangible fixed assets

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 1 June 2022

and 31 May 2023

72,900

17,112

97,482

187,494

Depreciation

At 1 June 2022

72,900

16,474

96,421

185,795

Charge for year

-

212

1,061

1,273

At 31 May 2023

72,900

16,686

97,482

187,068

Net book value

At 31 May 2023

-

426

-

426

At 31 May 2022

-

638

1,061

1,699

5.

Debtors: amounts falling due within one year

31/5/23

31/5/22

£

£

Trade debtors

110

7,660

Other debtors

629,909

539,359

630,019

547,019

6.

Creditors: amounts falling due within one year

31/5/23

31/5/22

£

£

Hire purchase contracts

8,942

11,917

Trade creditors

245,243

163,935

Taxation and social security

52,808

102,900

Other creditors

165,309

109,447

472,302

388,199

7.

Creditors: amounts falling due after more than one year

31/5/23

31/5/22

£

£

Hire purchase contracts

-

7,947

Other creditors

46,727

81,004

46,727

88,951

8.	Secured debts

The following secured debts are included within creditors:

31/5/23

31/5/22

£

£

Hire purchase contracts

8,942

19,864

Obligations under hire purchase contracts are secured on the underlying asset.

9.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31/5/23

31/5/22

£

£

S Collister

Balance outstanding at start of year

101,434

59,493

Amounts advanced

237,236

167,773

Amounts repaid

(165,049

)

(125,832

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

173,621

101,434

Amounts advanced include £10,711 on 1 August 2022, £20,000 on 17 November 2022 and £22,411 on 31 January 2023. Amounts repaid include £102,000 on 20 December 2022, £17,288 on 6 March 2023 and £11,015 on 30 May 2023. The maximum overdrawn balance in the period was £232,923. Advances to the director are interest free, unsecured and repayable on demand.