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REGISTERED NUMBER: 10705551 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Cotswold Property Ltd

Cotswold Property Ltd (Registered number: 10705551)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Cotswold Property Ltd

Company Information
for the Year Ended 30 April 2023







DIRECTOR: P D E Smith





REGISTERED OFFICE: Unit 11 Oxleaze Farm Workshops
Filkins
Lechlade
Gloucestershire
GL7 3RB





REGISTERED NUMBER: 10705551 (England and Wales)

Cotswold Property Ltd (Registered number: 10705551)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 2,459 2,639
Tangible assets 6 21,899 12,566
24,358 15,205

CURRENT ASSETS
Stocks 217,661 186,811
Debtors 7 147,854 109,514
Cash at bank 155,672 69,684
521,187 366,009
CREDITORS
Amounts falling due within one year 8 387,006 378,776
NET CURRENT ASSETS/(LIABILITIES) 134,181 (12,767 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,539

2,438

PROVISIONS FOR LIABILITIES 5,475 2,388
NET ASSETS 153,064 50

CAPITAL AND RESERVES
Called up share capital 1 2
Capital redemption reserve 1 -
Retained earnings 153,062 48
153,064 50

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 November 2023 and were signed by:





P D E Smith - Director


Cotswold Property Ltd (Registered number: 10705551)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Cotswold Property Ltd 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of sixteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

Depreciation and residual values

Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life as follows:
Plant and machinery and tools - 33% straight line basis
Motor vehicles - 33% straight line basis
Computer equipment - Straight line basis over 6 years

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any changes is accounted for prospectively.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


Cotswold Property Ltd (Registered number: 10705551)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

3. ACCOUNTING POLICIES - continued
Taxation
Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amount expected to be paid to the tax authorities.

Deferred tax
Deferred tax arises from timing differences that are differences between taxable profit and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessment in periods different from those in which are recognised in financial statements.

Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when 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 tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Cash and cash equivalent
Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Distributions to equity holders

Dividends and other distributions to company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

Related party transactions

The company discloses transactions with related parties which are not wholly owned with the same group. It does not disclose transactions with members of the same group that are wholly owned.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

Cotswold Property Ltd (Registered number: 10705551)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 3,000
AMORTISATION
At 1 May 2022 361
Amortisation for year 180
At 30 April 2023 541
NET BOOK VALUE
At 30 April 2023 2,459
At 30 April 2022 2,639

6. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2022 1,789 31,811 3,684 37,284
Additions 5,900 15,070 1,755 22,725
Disposals - (17,116 ) - (17,116 )
At 30 April 2023 7,689 29,765 5,439 42,893
DEPRECIATION
At 1 May 2022 690 23,099 929 24,718
Charge for year 2,563 9,922 907 13,392
Eliminated on disposal - (17,116 ) - (17,116 )
At 30 April 2023 3,253 15,905 1,836 20,994
NET BOOK VALUE
At 30 April 2023 4,436 13,860 3,603 21,899
At 30 April 2022 1,099 8,712 2,755 12,566

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 107,772 51,248
Prepayments and accrued income 40,082 58,266
147,854 109,514

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 35,695 46,974
Trade creditors 153,193 211,743
Tax 49,368 8,646
Social security and other taxes 27,872 34,616
VAT 88,965 64,562
Other creditors 21,277 3,673
Directors' current accounts 935 2,562
Accruals and deferred income 9,701 6,000
387,006 378,776

Cotswold Property Ltd (Registered number: 10705551)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
P D E Smith
Balance outstanding at start of year (1,631 ) (9,719 )
Amounts advanced 1,008 8,400
Amounts repaid (312 ) (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (935 ) (1,631 )

C A L Playfair
Balance outstanding at start of year (931 ) (9,719 )
Amounts advanced 931 9,100
Amounts repaid - (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (931 )