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Unaudited Financial Statements |
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for the Year Ended 31st May 2020 |
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for |
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Collins Home Improvements Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31st May 2020 |
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for |
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Collins Home Improvements Limited |
Collins Home Improvements Limited (Registered number: 04754495) |
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Contents of the Financial Statements |
for the Year Ended 31st May 2020 |
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Page |
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Abridged Balance Sheet | 1 |
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Notes to the Financial Statements | 2 |
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Collins Home Improvements Limited (Registered number: 04754495) |
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Abridged Balance Sheet |
31st May 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Collins Home Improvements Limited (Registered number: 04754495) |
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Notes to the Financial Statements |
for the Year Ended 31st May 2020 |
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1. | STATUTORY INFORMATION |
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Collins Home Improvements Limited is a
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Registered number: | 04754495 |
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Registered office: | Landsway House |
Ash Road |
Ash |
Kent |
TN15 7HJ |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts. |
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The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows: |
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Revenue from the sale of goods is recognised at the point at which the goods have been delivered to the customer. |
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Revenue from the sale of services is recognised at the point at which those services have been provided to the customer. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Government grants |
Grants are classified either as a grant relating to revenue or a grant relating to assets. Grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support with no future related costs is recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred it is recognised as deferred income and not deducted from the carrying amount of the asset. |
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Collins Home Improvements Limited (Registered number: 04754495) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st May 2020 |
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3. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
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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. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1st June 2019 |
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Additions |
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At 31st May 2020 |
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DEPRECIATION |
At 1st June 2019 |
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Charge for year |
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At 31st May 2020 |
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NET BOOK VALUE |
At 31st May 2020 |
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At 31st May 2019 |
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