Registered number
08054156
Cow Hold Limited
Filleted Accounts
31 May 2023
Cow Hold Limited
Registered number: 08054156
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 217,124 168,558
Current assets
Stocks 97,625 135,850
Debtors 4 123,145 112,351
Cash at bank and in hand 393,685 492,278
614,455 740,479
Creditors: amounts falling due within one year 5 (504,255) (503,126)
Net current assets 110,200 237,353
Total assets less current liabilities 327,324 405,911
Creditors: amounts falling due after more than one year 6 (144,589) (194,807)
Net assets 182,735 211,104
Capital and reserves
Called up share capital 2 2
Profit and loss account 182,733 211,102
Shareholders' funds 182,735 211,104
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Nigel Coughlan
Director
Approved by the board on 12 September 2023
Cow Hold Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% reducing balance
Land and buildings 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 95 100
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2022 41,262 251,386 292,648
Additions 68,645 15,486 84,131
At 31 May 2023 109,907 266,872 376,779
Depreciation
At 1 June 2022 41,261 82,829 124,090
Charge for the year 17,161 18,404 35,565
At 31 May 2023 58,422 101,233 159,655
Net book value
At 31 May 2023 51,485 165,639 217,124
At 31 May 2022 1 168,557 168,558
4 Debtors 2023 2022
£ £
Trade debtors 50,922 56,922
Amounts owed by group undertakings and undertakings in which the company has a participating interest 7,149 -
Other debtors 65,074 55,429
123,145 112,351
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 52,730 50,702
Obligations under finance lease and hire purchase contracts 218 1,245
Trade creditors 172,089 115,965
Corporation tax 84,929 117,688
Other taxes and social security costs 164,132 184,838
Other creditors 30,157 32,688
504,255 503,126
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 108,333 158,333
Obligations under finance lease and hire purchase contracts - 218
Other creditors 36,256 36,256
144,589 194,807
7 Other information
Cow Hold Limited is a private company limited by shares and incorporated in England. Its registered office is:
12a Montpellier Parade
Harrogate
HG1 2TJ
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