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Registration number: 08465845

Cottingburn Limited

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Cottingburn Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Cottingburn Limited

Company Information

Directors

I.W. Rutherford

B. Dodds

Registered office

The Bungalow
23 A Kings Avenue
Morpeth
Northumberland, United Kingdom
Northumberland
NE61 1HX

Bankers

HSBC
1 New Market
Morpeth
Northumberland
NE61 1PX

 

Cottingburn Limited

(Registration number: 08465845)
Statement of Financial Position as at 31 March 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

4

 

859,624

 

669,038

Current assets

   

 

Cash at bank and in hand

 

2,467

 

7,541

 

Creditors: Amounts falling due within one year

5

(843,718)

 

(643,148)

 

Net current liabilities

   

(841,251)

 

(635,607)

Total assets less current liabilities

   

18,373

 

33,431

Creditors: Amounts falling due after more than one year

5

 

(40,449)

 

(45,833)

Net liabilities

   

(22,076)

 

(12,402)

Capital and reserves

   

 

Called up share capital

1,000

 

1

 

Profit and loss account

(23,076)

 

(12,403)

 

Total equity

   

(22,076)

 

(12,402)

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised for issue by the Board on 17 October 2023 and signed on its behalf by:
 

.........................................
I.W. Rutherford
Director

.........................................
B. Dodds
Director

 

Cottingburn Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is The Bungalow, 23 A Kings Avenue, Morpeth, Northumberland, United Kingdom, Northumberland, NE61 1HX.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in sterling which is the functional currency of the entity.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Asset class

Depreciation method and rate

 

Fixtures and fittings

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Cottingburn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Tangible assets

Land and buildings
£

Properties under construction
 £

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2022

398,201

258,293

12,544

669,038

Additions

-

151,148

39,438

190,586

At 31 March 2023

398,201

409,441

51,982

859,624

Depreciation

Carrying amount

At 31 March 2023

398,201

409,441

51,982

859,624

At 31 March 2022

398,201

258,293

12,544

669,038

Included within the net book value of land and buildings above is £398,201 (2022 - £398,201) in respect of freehold land and buildings.
 

 

Cottingburn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

6

5,850

4,167

Trade creditors

 

867

4,298

Accruals and deferred income

 

1,800

1,482

Other creditors

 

100,000

70,000

Directors loan accounts

 

735,201

563,201

 

843,718

643,148

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

6

40,449

45,833

6

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,850

4,167

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

40,449

45,833