REGISTERED NUMBER: |
D.R. Collin (Fish) Limited |
Audited Financial Statements |
for the Year Ended 30th April 2023 |
REGISTERED NUMBER: |
D.R. Collin (Fish) Limited |
Audited Financial Statements |
for the Year Ended 30th April 2023 |
D.R. Collin (Fish) Limited (Registered number: SC333303) |
Contents of the Financial Statements |
for the year ended 30th April 2023 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 3 | to | 6 |
D.R. Collin (Fish) Limited |
Company Information |
for the year ended 30th April 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
Academy House |
Shedden Park Road |
Kelso |
Roxburghshire |
TD5 7AL |
D.R. Collin (Fish) Limited (Registered number: SC333303) |
Balance Sheet |
30th April 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Provisions for liabilities |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
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 Board of Directors and authorised for issue on |
D.R. Collin (Fish) Limited (Registered number: SC333303) |
Notes to the Financial Statements |
for the year ended 30th April 2023 |
1. | Statutory information |
D.R. Collin (Fish) Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is the amount derived from ordinary activities, and is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances, and is stated net of VAT. |
Revenue from sale of goods is recognised when all the following conditions are satisfied: |
- the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; |
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; |
- the amount of revenue can be measured reliably; |
- it is probable that the economic benefits associated with the transaction will flow to the company; and |
- the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in the year ended 2008, has subsequently been fully written down to nil value. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
Plant and machinery - 20% reducing balance method |
Motor vehicles - 20% reducing balance method |
Office equipment - 20% reducing balance method |
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Stocks |
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion. |
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down of loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
D.R. Collin (Fish) Limited (Registered number: SC333303) |
Notes to the Financial Statements - continued |
for the year ended 30th April 2023 |
2. | Accounting policies - continued |
Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors, other debtors, trade creditors, other creditors, current accounts with related parties and accruals. |
Trade debtors, other debtors, trade creditors, other creditors, current accounts with related parties and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings. |
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 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. |
Foreign currencies |
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into sterling at the rates of exchange ruling at the balance sheet date or the forward contract rate, where such contracts are in place. All differences are taken to the statement of income and retained earnings. |
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. |
Provisions |
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
Employee benefits |
Short-term employee benefits, including holiday pay, are recognised as an expense in the statement of income and retained earnings in the period in which they are incurred. |
D.R. Collin (Fish) Limited (Registered number: SC333303) |
Notes to the Financial Statements - continued |
for the year ended 30th April 2023 |
2. | Accounting policies - continued |
Going concern |
The company has a deficit on the balance sheet but was able to generate a profit in the year. The majority of the long term funding for the company is secured from the financial contribution by the parent company of the group through a related party current account. The parent company has made a commitment not to seek repayment of this facility within the short term. Accordingly, they continue to adopt the going concern basis in preparing these financial statements. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1st May 2022 |
and 30th April 2023 |
Amortisation |
At 1st May 2022 |
and 30th April 2023 |
Net book value |
At 30th April 2023 |
At 30th April 2022 |
5. | Tangible fixed assets |
Plant and | Motor | Office |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1st May 2022 |
and 30th April 2023 |
Depreciation |
At 1st May 2022 |
Charge for year |
At 30th April 2023 |
Net book value |
At 30th April 2023 |
At 30th April 2022 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
D.R. Collin (Fish) Limited (Registered number: SC333303) |
Notes to the Financial Statements - continued |
for the year ended 30th April 2023 |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the auditors was unqualified. |
for and on behalf of |
9. | Name of parent of group |
These financial statements are consolidated in the financial statements of D. R. Collin & Son Ltd. The registered office of D. R. Collin & Son Ltd is Unit 1, Coldingham Road Industrial Estate, Eyemouth, Berwickshire, TD14 5AN |