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Registration number: 12706514

Cockle Beach Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Cockle Beach Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Cockle Beach Ltd

Company Information

Directors

PG Seddon

Mrs C Beavis

Registered office

Unit 4A Westpark 26
Chelston
Wellington
Somerset
TA21 9AD

Accountants

M.J. Smith & Co Limited
Woodbury House
Green Lane
Exton
Exeter
Devon
EX3 0PW

 

Cockle Beach Ltd

(Registration number: 12706514)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

fixed assets

 

Intangible assets

6

500

750

tangible assets

7

519,638

506,993

 

520,138

507,743

Current assets

 

Cash at bank and in hand

 

900

1,843

Creditors: Amounts falling due within one year

8

(516,523)

(518,588)

Net current liabilities

 

(515,623)

(516,745)

Net assets/(liabilities)

 

4,515

(9,002)

capital and reserves

 

Called up share capital

100

100

Profit and loss account

4,415

(9,102)

Total equity

 

4,515

(9,002)

For the financial 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 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 11 March 2024 and signed on its behalf by:
 

.........................................
PG Seddon
Director

 

Cockle Beach Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
Unit 4A Westpark 26
Chelston
Wellington
Somerset
TA21 9AD
United Kingdom

These financial statements were authorised for issue by the Board on 11 March 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

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of 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.

 

Cockle Beach Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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 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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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).

4

Profit before tax

Arrived at after charging/(crediting)

 

Cockle Beach Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

2023
£

2022
£

Depreciation expense

(12,375)

7,148

Amortisation expense

250

250

5

Taxation on profits on ordinary activities

Note

2023
£

2022
 £

Tax reconciliation

 

 

-

-

 

Cockle Beach Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

Additions acquired separately

1,000

1,000

At 30 June 2023

1,000

1,000

Amortisation

At 1 July 2022

250

250

Amortisation charge

250

250

At 30 June 2023

500

500

Carrying amount

At 30 June 2023

500

500

At 30 June 2022

750

750

7

Tangible assets

Land and buildings
£

Other property, plant and equipment
£

Total
£

Cost or valuation

At 1 July 2022

517,918

2,697

520,615

Additions

-

270

270

At 30 June 2023

517,918

2,967

520,885

Depreciation

At 1 July 2022

12,948

674

13,622

Charge for the year

(12,948)

573

(12,375)

At 30 June 2023

-

1,247

1,247

Carrying amount

At 30 June 2023

517,918

1,720

519,638

At 30 June 2022

504,970

2,023

506,993

Included within the net book value of land and buildings above is £517,918 (2022 - £504,970) in respect of freehold land and buildings.
 

 

Cockle Beach Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9

50

50

Amounts owed to group undertakings and undertakings in which the company has a participating interest

515,000

515,000

Accruals and deferred income

 

1,470

1,930

Director's current account

 

3

1,608

 

516,523

518,588

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

50

50