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Registration number: 09041081

Cobblestone Cottage Holidays Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Cobblestone Cottage Holidays Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Cobblestone Cottage Holidays Limited

Company Information

Directors

Mr S J Morris

Dr A C Morris

Registered office

Lower Boskinning
Bone Valley
Heamoor
Penzance
Cornwall
TR20 8UN

Accountants

D.J. Reynolds & Co.
15 Alverton Street
Penzance
Cornwall
TR18 2QP

 

Cobblestone Cottage Holidays Limited

(Registration number: 09041081)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

84,646

92,221

Current assets

 

Debtors

5

2,001

-

Cash at bank and in hand

 

14,073

7,923

 

16,074

7,923

Creditors: Amounts falling due within one year

6

(133,561)

(109,717)

Net current liabilities

 

(117,487)

(101,794)

Net liabilities

 

(32,841)

(9,573)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(32,941)

(9,673)

Shareholders' deficit

 

(32,841)

(9,573)

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 February 2024 and signed on its behalf by:
 

.........................................
Mr S J Morris
Director

 

Cobblestone Cottage Holidays Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lower Boskinning
Bone Valley
Heamoor
Penzance
Cornwall
TR20 8UN

These financial statements were authorised for issue by the Board on 20 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

In the opinion of the Directors, the company can continue to operate on a going concern basis. This is due to the Directors agreeing not to call in their loan to the company for at least the next 12 months.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of facilities and services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Cobblestone Cottage Holidays Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% reducing balance

Furniture and equipment

15% reducing balance

Improvements to property

2% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date.

Trade creditors are recognised initially at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Cobblestone Cottage Holidays Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2022

49,929

59,266

109,195

At 31 May 2023

49,929

59,266

109,195

Depreciation

At 1 June 2022

1,547

15,427

16,974

Charge for the year

999

6,576

7,575

At 31 May 2023

2,546

22,003

24,549

Carrying amount

At 31 May 2023

47,383

37,263

84,646

At 31 May 2022

48,382

43,839

92,221

Included within the net book value of land and buildings above is £47,383 (2022 - £48,382) in respect of freehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Other debtors

2,001

-

 

Cobblestone Cottage Holidays Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,390

899

Other creditors

132,171

108,818

133,561

109,717

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Related party transactions

Transactions with directors

2023

At 1 June 2022
£

Advances by director
£

At 31 May 2023
£

Interest free loan, repayable on demand

108,818

23,353

132,171

       
     

 

2022

At 1 June 2021
£

Advances by director
£

At 31 May 2022
£

Interest free loan, repayable on demand

55,558

53,260

108,818