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Registered Number: 04829229
England and Wales

 

 

 


Abridged Accounts

for the period ended 31 January 2024

for

CORNISH COLLECTION LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 2,644    2,730 
Tangible fixed assets 4 248,829    249,317 
251,473    252,047 
Current assets      
Debtors 28,000    28,000 
Cash at bank and in hand 822,869    1,287,543 
850,869    1,315,543 
Creditors: amount falling due within one year (519,571)   (1,009,574)
Net current assets 331,298    305,969 
 
Total assets less current liabilities 582,771    558,016 
Provisions for liabilities (835)   (1,159)
Net assets 581,936    556,857 
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Profit and loss account 580,936    555,857 
Shareholder's funds 581,936    556,857 
 


For the period ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 18 April 2024 and were signed on its behalf by:


-------------------------------
C J Dixon
Director
1
General Information
Cornish Collection Limited is a private company, limited by shares, registered in England and Wales, registration number 04829229, registration address 73 Bodrigan Road, LOOE, Cornwall, PL13 1EH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 20% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 6 (2023 : 6).
3.

Intangible fixed assets

Cost Goodwill   Other intangible assets   Total
  £   £   £
At 01 August 2023 20,000    3,461    23,461 
Additions    
Disposals    
At 31 January 2024 20,000    3,461    23,461 
Amortisation
At 01 August 2023 20,000    731    20,731 
Charge for period   86    86 
On disposals    
At 31 January 2024 20,000    817    20,817 
Net book values
At 31 January 2024   2,644    2,644 
At 31 July 2023   2,730    2,730 


4.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 01 August 2023 244,436    36,700    281,136 
Additions    
Disposals    
At 31 January 2024 244,436    36,700    281,136 
Depreciation
At 01 August 2023   31,819    31,819 
Charge for period   488    488 
On disposals    
At 31 January 2024   32,307    32,307 
Net book values
Closing balance as at 31 January 2024 244,436    4,393    248,829 
Opening balance as at 01 August 2023 244,436    4,881    249,317 


2