Cowick (Holdings) Limited |
Registered number: |
10291240 |
Balance Sheet |
as at 27 July 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
5,000,000 |
|
|
5,000,000 |
|
Current assets |
Debtors |
4 |
|
140,642 |
|
|
91,872 |
Cash at bank and in hand |
|
|
15,490 |
|
|
10,348 |
|
|
|
156,132 |
|
|
102,220 |
|
Creditors: amounts falling due within one year |
5 |
|
(2,014,729) |
|
|
(1,888,857) |
|
Net current liabilities |
|
|
|
(1,858,597) |
|
|
(1,786,637) |
|
Total assets less current liabilities |
|
|
|
3,141,403 |
|
|
3,213,363 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(2,812,000) |
|
|
(2,900,000) |
|
|
|
Net assets |
|
|
|
329,403 |
|
|
313,363 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1 |
|
|
1 |
Profit and loss account |
|
|
|
329,402 |
|
|
313,362 |
|
Shareholders' funds |
|
|
|
329,403 |
|
|
313,363 |
|
|
|
|
|
|
|
|
The director is 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 director acknowledges his 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. |
|
|
|
|
V K Chawla |
Director |
Approved by the board on 19 October 2023 |
|
Cowick (Holdings) Limited |
Notes to the Accounts |
for the period from 1 August 2022 to 27 July 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 includes rental income which is recognised on the basis of the period covered by rental payment. |
|
|
Investment properties |
|
In accordance with FRS 102 as applied for Smaller Entities by section 1A of the standard, investment properties are held under the revaluation model, whereby revaluations are undertaken regularly to ensure that the carrying amount does not materially differ from the fair value at the end of the period. Any aggregate surplus or temporary deficit from the original cost is cumulated within equity in the revaluation reserve and also reflected in other comprehensive income. Any impairment in the value of an investment property from original cost is taken to the profit and loss account for the year. On realisation any gain or loss is calculated by reference to the carrying value at the last balance sheet date and is included in the profit and loss account. Any balance in the revaluation reserve is transferred to the profit and loss account reserve. No depreciation is provided in respect of freehold investment properties and leasehold investment properties with over 20 years unexpired. FRS 102 requires all properties to be depreciated however the residual value of such investment properties is considered not to be materially different from that of the carrying value and therefore depreciation is not required. |
|
|
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. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
£ |
|
Cost |
|
At 1 August 2022 |
5,000,000 |
|
At 27 July 2023 |
5,000,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 27 July 2023 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 27 July 2023 |
5,000,000 |
|
At 31 July 2022 |
5,000,000 |
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Trade debtors |
7,332 |
|
9,827 |
|
Other debtors |
133,310 |
|
82,045 |
|
|
|
|
|
|
140,642 |
|
91,872 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans and overdrafts |
88,000 |
|
88,000 |
|
Taxation and social security costs |
51,405 |
|
45,031 |
|
Other creditors |
1,875,324 |
|
1,755,826 |
|
|
|
|
|
|
2,014,729 |
|
1,888,857 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans |
2,812,000 |
|
2,900,000 |
|
|
|
|
|
|
|
|
|
|
7 |
Loans |
2023 |
|
2022 |
£ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
2,900,000 |
|
2,988,000 |
|
|
|
|
|
|
|
|
|
|
The loan is secured on the company's investment property. |
|
|
8 |
Controlling party |
|
|
The company is controlled by Mr V K Chawla, the sole director and owner of the entire issued share capital in the company. |
|
|
9 |
Other information |
|
|
Cowick (Holdings) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
109 Gloucester Place |
|
London |
|
W1U 6JW |