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REGISTERED NUMBER: 05882589 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2023

for

A P Cottle and Son Limited

A P Cottle and Son Limited (Registered number: 05882589)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


A P Cottle and Son Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: A P Cottle
Mrs H A Cottle





SECRETARY: Mrs H A Cottle





REGISTERED OFFICE: Metherell Gard
Burn View
Bude
Cornwall
EX23 8BX





REGISTERED NUMBER: 05882589 (England and Wales)





ACCOUNTANTS: Metherell Gard Ltd
Chartered Accountants
Burn View
Bude
Cornwall
EX23 8BX

A P Cottle and Son Limited (Registered number: 05882589)

Abridged Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,542 11,042
Tangible assets 5 38,311 46,208
46,853 57,250

CURRENT ASSETS
Stocks 793 770
Debtors 62,734 63,244
Cash at bank 43,128 30,778
106,655 94,792
CREDITORS
Amounts falling due within one year 104,960 112,659
NET CURRENT ASSETS/(LIABILITIES) 1,695 (17,867 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,548

39,383

PROVISIONS FOR LIABILITIES 4,700 5,900
NET ASSETS 43,848 33,483

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 42,848 32,483
SHAREHOLDERS' FUNDS 43,848 33,483

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

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

The directors acknowledge their 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.

A P Cottle and Son Limited (Registered number: 05882589)

Abridged Balance Sheet - continued
31 March 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 September 2023 and were signed on its behalf by:





A P Cottle - Director


A P Cottle and Son Limited (Registered number: 05882589)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

A P Cottle and Son 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.

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

Sale of goods
Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is probable that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Rendering of services
Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Improvements to property - Straight line over 15 years
Plant and machinery etc - Straight line over 15 years or 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


A P Cottle and Son Limited (Registered number: 05882589)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial instruments
All financial instruments are recognised initially at transaction price excluding transaction costs and subsequently at amortised cost. These include cash at bank, trade and other debtors and trade and other creditors.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account and in other administrative expenses.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 50,000
AMORTISATION
At 1 April 2022 38,958
Amortisation for year 2,500
At 31 March 2023 41,458
NET BOOK VALUE

At 31 March 2023 8,542
At 31 March 2022 11,042

A P Cottle and Son Limited (Registered number: 05882589)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 167,296
Additions 977
At 31 March 2023 168,273
DEPRECIATION
At 1 April 2022 121,088
Charge for year 8,874
At 31 March 2023 129,962
NET BOOK VALUE
At 31 March 2023 38,311
At 31 March 2022 46,208

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2022 16,500
Transfer to ownership (16,500 )
At 31 March 2023 -
DEPRECIATION
At 1 April 2022 9,368
Transfer to ownership (9,368 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 7,132

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 1,692