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REGISTERED NUMBER: 00668450 (England and Wales)















COWLEY BROS.(WROUGHTON) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH APRIL 2023






COWLEY BROS.(WROUGHTON) LIMITED (REGISTERED NUMBER: 00668450)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


COWLEY BROS.(WROUGHTON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2023







DIRECTOR: Mr N Cowley



SECRETARY: Mr N Cowley



REGISTERED OFFICE: 43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



REGISTERED NUMBER: 00668450 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Nat West Bank Plc
84 Commercial Road
SWINDON
Wiltshire
SN1 5NW

COWLEY BROS.(WROUGHTON) LIMITED (REGISTERED NUMBER: 00668450)

STATEMENT OF FINANCIAL POSITION
30TH APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,137 12,179
Investments 5 1 1
Investment property 6 220,000 220,000
232,138 232,180

CURRENT ASSETS
Stocks 46,594 44,174
Debtors 7 3,754,706 3,682,251
Cash at bank 56,450 31,827
3,857,750 3,758,252
CREDITORS
Amounts falling due within one year 8 109,278 91,327
NET CURRENT ASSETS 3,748,472 3,666,925
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,980,610

3,899,105

CREDITORS
Amounts falling due after more than
one year

9

1,183,518

1,149,877
NET ASSETS 2,797,092 2,749,228

CAPITAL AND RESERVES
Called up share capital 12 69,640 69,640
Share premium 13 178,560 178,560
Retained earnings 13 2,548,892 2,501,028
SHAREHOLDERS' FUNDS 2,797,092 2,749,228

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

COWLEY BROS.(WROUGHTON) LIMITED (REGISTERED NUMBER: 00668450)

STATEMENT OF FINANCIAL POSITION - continued
30TH APRIL 2023


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 28th September 2023 and were signed by:





Mr N Cowley - Director


COWLEY BROS.(WROUGHTON) LIMITED (REGISTERED NUMBER: 00668450)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023


1. STATUTORY INFORMATION

Cowley Bros. (Wroughton) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00668450

Registered office: 43 - 45 Devizes Road, Swindon, SN1 4BG

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Cowley Bros.(Wroughton) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the director has determined the basis of the fair value of the investment property using knowledge of the market.

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 - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


COWLEY BROS.(WROUGHTON) LIMITED (REGISTERED NUMBER: 00668450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023


2. 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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st May 2022
and 30th April 2023 11,901 16,960 28,861
DEPRECIATION
At 1st May 2022 - 16,682 16,682
Charge for year - 42 42
At 30th April 2023 - 16,724 16,724
NET BOOK VALUE
At 30th April 2023 11,901 236 12,137
At 30th April 2022 11,901 278 12,179

COWLEY BROS.(WROUGHTON) LIMITED (REGISTERED NUMBER: 00668450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023


5. FIXED ASSET INVESTMENTS
Shares in
group
undertaki
£   
COST
At 1st May 2022
and 30th April 2023 1
NET BOOK VALUE
At 30th April 2023 1
At 30th April 2022 1

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2022
and 30th April 2023 220,000
NET BOOK VALUE
At 30th April 2023 220,000
At 30th April 2022 220,000

Fair value at 30th April 2023 is represented by:
£   
Valuation in 2008 150,505
Valuation in 2009 (42,000 )
Valuation in 2016 (55,572 )
Valuation in 2020 (41,144 )
Valuation in 2021 (60,000 )
Cost 268,211
220,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 268,211 268,211

Investment property was valued on an open market basis on 30th April 2023 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,429 8,729
Amounts owed by associated companies 1,364,277 1,330,777
Other debtors 2,389,000 2,342,745
3,754,706 3,682,251

COWLEY BROS.(WROUGHTON) LIMITED (REGISTERED NUMBER: 00668450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,763 932
Taxation and social security 12,742 11,900
Other creditors 91,773 78,495
109,278 91,327

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 1,183,518 1,149,877

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 38,500 38,500
Between one and five years 129,084 135,584
In more than five years 2,758,670 2,790,670
2,926,254 2,964,754

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 1,183,518 1,149,877

A debenture is held over the assets of the company by the Co-Trustees of the Arthur W. and Anne L. Dunkley Marital Property Trust as well as legal first charge over:

20 High Street, Swindon, Wiltshire

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
69,640 Ordinary £1 69,640 69,640

13. RESERVES

Retained earnings of which are distributable total £2,597,103 (2022: £2,549,239). The undistributable element of retained earnings is as a result of the fair value adjustments made in respect of the investment property.

COWLEY BROS.(WROUGHTON) LIMITED (REGISTERED NUMBER: 00668450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023


14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th April 2023 and 30th April 2022:

2023 2022
£    £   
Mr N Cowley
Balance outstanding at start of year 1,846,886 1,810,272
Amounts advanced 37,307 36,614
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,884,193 1,846,886

Interest has been charged at 2% and there is no fixed repayment date.