Registered number
04846783
Cobley & Cockshott Ltd
Filleted Accounts
31 January 2024
Cobley & Cockshott Ltd
Registered number: 04846783
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 8,034 9,078
Current assets
Stocks 47,722 54,433
Debtors 4 5,541 5,830
Cash at bank and in hand 37,878 47,652
91,141 107,915
Creditors: amounts falling due within one year 5 (17,840) (26,794)
Net current assets 73,301 81,121
Net assets 81,335 90,199
Capital and reserves
Called up share capital 100 100
Profit and loss account 81,235 90,099
Shareholder's funds 81,335 90,199
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 member has 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.
B Doyle
Director
Approved by the board on 9 February 2024
Cobley & Cockshott Ltd
Notes to the Accounts
for the year ended 31 January 2024
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:
Computer Equipment 25% reducing balance
Fixtures & Fittings 10% reducing balance
Motor vehicles 25% reducing balance
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.
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 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 20,701 9,500 30,201
At 31 January 2024 20,701 9,500 30,201
Depreciation
At 1 February 2023 12,336 8,787 21,123
Charge for the year 866 178 1,044
At 31 January 2024 13,202 8,965 22,167
Net book value
At 31 January 2024 7,499 535 8,034
At 31 January 2023 8,365 713 9,078
4 Debtors 2024 2023
£ £
Trade debtors 5,541 5,830
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,838 6,839
Taxation and social security costs 4,646 4,239
Other creditors 8,356 15,716
17,840 26,794
6 Other information
Cobley & Cockshott Ltd is a private company limited by shares and incorporated in England. Its registered office is:
19 Bridge Street
Keighley
BD21 1AA
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