Caseware UK (AP4) 2022.0.179 2022.0.179 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity2022-04-01false22truetrue 4905703 2022-04-01 2023-03-31 4905703 2021-04-01 2022-03-31 4905703 2023-03-31 4905703 2022-03-31 4905703 c:Director1 2022-04-01 2023-03-31 4905703 d:Buildings 2022-04-01 2023-03-31 4905703 d:Buildings 2023-03-31 4905703 d:Buildings 2022-03-31 4905703 d:LandBuildings 2023-03-31 4905703 d:LandBuildings 2022-03-31 4905703 d:CurrentFinancialInstruments 2023-03-31 4905703 d:CurrentFinancialInstruments 2022-03-31 4905703 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 4905703 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 4905703 d:ShareCapital 2023-03-31 4905703 d:ShareCapital 2022-03-31 4905703 d:RevaluationReserve 2023-03-31 4905703 d:RevaluationReserve 2022-03-31 4905703 d:RetainedEarningsAccumulatedLosses 2023-03-31 4905703 d:RetainedEarningsAccumulatedLosses 2022-03-31 4905703 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 4905703 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 4905703 c:OrdinaryShareClass1 2022-04-01 2023-03-31 4905703 c:OrdinaryShareClass1 2023-03-31 4905703 c:OrdinaryShareClass1 2022-03-31 4905703 c:FRS102 2022-04-01 2023-03-31 4905703 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 4905703 c:FullAccounts 2022-04-01 2023-03-31 4905703 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 4905703 5 2022-04-01 2023-03-31 4905703 6 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 4905703









P E M COWDY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the Year Ended 31 March 2023

 
P E M COWDY LIMITED
Registered number: 4905703

BALANCE SHEET
As at 31 March 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
134,151
134,151

Investments
 5 
536,747
534,548

  
670,898
668,699

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
-
346

Cash at bank and in hand
 7 
151,761
131,495

  
151,761
131,841

Creditors: amounts falling due within one year
 8 
(24,931)
(13,672)

NET CURRENT ASSETS
  
 
 
126,830
 
 
118,169

  

NET ASSETS
  
797,728
786,868


CAPITAL AND RESERVES
  

Called up share capital 
 10 
2
2

Revaluation reserve
  
(36,282)
(28,474)

Profit and loss account
  
834,008
815,340

  
797,728
786,868


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



P E M Cowdy
Director

Page 1

 
P E M COWDY LIMITED
Registered number: 4905703
    
BALANCE SHEET (CONTINUED)
As at 31 March 2023

Date: 23 October 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
P E M COWDY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

1.


GENERAL INFORMATION

P E M Cowdy Limited is a limited liability company, incorporated in the United Kingdom. Its registered office is Berriewood Farm, Condover, Dorrington, Shrewsbury, Shropshire, SY5 7NN. The principal activity of the business is that of providing accountancy services and the letting of land, including agricultural land.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
P E M COWDY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.4
TANGIBLE FIXED ASSETS (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

REVALUATION OF TANGIBLE FIXED ASSETS

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.6

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

DEBTORS

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.

 
2.8

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
P E M COWDY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

CREDITORS

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

 
2.10

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.11

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
2
2

Page 5

 
P E M COWDY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

4.


TANGIBLE FIXED ASSETS





Freehold property

£



Cost or valuation


At 1 April 2022
134,151



At 31 March 2023

134,151






Net book value



At 31 March 2023
134,151



At 31 March 2022
134,151




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
134,151
134,151

134,151
134,151



5.


FIXED ASSET INVESTMENTS





Other fixed asset investments

£



Cost or valuation


At 1 April 2022
534,548


Additions
56,588


Disposals
(46,581)


Revaluations
(7,808)



At 31 March 2023
536,747





 

Page 6

 
P E M COWDY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

6.


DEBTORS

2023
2022
£
£


Other debtors
-
346

-
346



7.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
151,761
131,495

151,761
131,495



8.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Corporation tax
13,712
12,597

Other creditors
11,219
1,075

24,931
13,672



9.


FINANCIAL INSTRUMENTS

2023
2022
£
£

FINANCIAL ASSETS


Financial assets measured at fair value through profit or loss
151,761
131,495



Page 7

 
P E M COWDY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

10.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



200 (2022 - 200) Ordinary shares of £0.01 each
2
2


Page 8