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Company registration number: 08088000
Court House (Cheddar) Ltd
Unaudited filleted financial statements
30 June 2023
Brooking Ruse
Chartered Accountants
2 Stafford Place
Weston-super-Mare
Somerset, BS23 2QZ
Court House (Cheddar) Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Court House (Cheddar) Ltd
Directors and other information
Directors Mrs. P. Dando
Mr. C.B. Dando
Mr. J.E. Dando
Mrs. S.L. Mettam
Company number 08088000
Registered office 2 Stafford Place
Weston-super-Mare
Somerset
BS23 2QZ
Business address Church Street
Cheddar
Somerset
BS27 3RA
Accountants Brooking Ruse
2 Stafford Place
Weston-super-Mare
Somerset
BS23 2QZ
Bankers National Westminster Bank PLC
3 High Street
Midsomer Norton
Bath
BA3 2ZY
Court House (Cheddar) Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Court House (Cheddar) Ltd
Year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Court House (Cheddar) Ltd for the year ended 30 June 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Court House (Cheddar) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Court House (Cheddar) Ltd and state those matters that we have agreed to state to the board of directors of Court House (Cheddar) Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Court House (Cheddar) Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Court House (Cheddar) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Court House (Cheddar) Ltd. You consider that Court House (Cheddar) Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Court House (Cheddar) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Brooking Ruse
Chartered Accountants
2 Stafford Place
Weston-super-Mare
Somerset
BS23 2QZ
27 February 2024
Court House (Cheddar) Ltd
Statement of financial position
30 June 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 124,040 129,688
_______ _______
124,040 129,688
Current assets
Debtors 6 17,802 14,379
Cash at bank and in hand 79,325 35,596
_______ _______
97,127 49,975
Creditors: amounts falling due
within one year 7 ( 64,573) ( 16,058)
_______ _______
Net current assets 32,554 33,917
_______ _______
Total assets less current liabilities 156,594 163,605
Creditors: amounts falling due
after more than one year 8 ( 52,959) ( 57,800)
_______ _______
Net assets 103,635 105,805
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 103,535 105,705
_______ _______
Shareholders funds 103,635 105,805
_______ _______
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 February 2024 , and are signed on behalf of the board by:
Mr. C.B. Dando
Director
Company registration number: 08088000
Court House (Cheddar) Ltd
Statement of changes in equity
Year ended 30 June 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 July 2021 100 254,408 254,508
Profit/(loss) for the year ( 44,358) ( 44,358)
_______ _______ _______
Total comprehensive income for the year - ( 44,358) ( 44,358)
Dividends paid and payable ( 104,345) ( 104,345)
_______ _______ _______
Total investments by and distributions to owners - ( 104,345) ( 104,345)
_______ _______ _______
At 30 June 2022 and 1 July 2022 100 105,705 105,805
Profit/(loss) for the year 114,460 114,460
_______ _______ _______
Total comprehensive income for the year - 114,460 114,460
Dividends paid and payable ( 116,630) ( 116,630)
_______ _______ _______
Total investments by and distributions to owners - ( 116,630) ( 116,630)
_______ _______ _______
At 30 June 2023 100 103,535 103,635
_______ _______ _______
Court House (Cheddar) Ltd
Notes to the financial statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Stafford Place, Weston-super-Mare, Somerset, BS23 2QZ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and buildings - 2 % straight line
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Intangible assets
Goodwill Total
£ £
Cost
At 1 July 2022 and 30 June 2023 200,000 200,000
_______ _______
Amortisation
At 1 July 2022 and 30 June 2023 200,000 200,000
_______ _______
Carrying amount
At 30 June 2023 - -
_______ _______
At 30 June 2022 - -
_______ _______
5. Tangible assets
Freehold property Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 July 2022 118,976 78,287 47,296 244,559
Additions - 2,389 - 2,389
_______ _______ _______ _______
At 30 June 2023 118,976 80,676 47,296 246,948
_______ _______ _______ _______
Depreciation
At 1 July 2022 9,520 65,434 39,918 114,872
Charge for the year 2,380 3,811 1,845 8,036
_______ _______ _______ _______
At 30 June 2023 11,900 69,245 41,763 122,908
_______ _______ _______ _______
Carrying amount
At 30 June 2023 107,076 11,431 5,533 124,040
_______ _______ _______ _______
At 30 June 2022 109,456 12,853 7,378 129,687
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Other debtors 17,802 14,379
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 4,900 4,900
Corporation tax 29,711 -
Other creditors 29,962 11,158
_______ _______
64,573 16,058
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 52,959 57,800
_______ _______
The bank loan is secured by a charge over the company's freehold property.
Included within creditors: amounts falling due after more than one year is an amount of £ 33,359 (2022 £ 38,200 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
9. Controlling party
Mrs. P. Dando , a director of the company, owns the majority of the issued share capital and is therefore the ultimate controlling party.