Registered number
12661739
COBB THATCH RENTALS LTD
Filleted Accounts
30 June 2023
COBB THATCH RENTALS LTD
Registered number: 12661739
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 29,110 21,352
Tangible assets 4 32,536 14,239
61,646 35,591
Current assets
Debtors 5 12,717 3,117
Cash at bank and in hand 2,467 2,544
15,184 5,661
Creditors: amounts falling due within one year 6 (1,038) (938)
Net current assets 14,146 4,723
Total assets less current liabilities 75,792 40,314
Creditors: amounts falling due after more than one year 7 (69,974) (37,923)
Net assets 5,818 2,391
Capital and reserves
Called up share capital 100 100
Profit and loss account 5,718 2,291
Shareholders' funds 5,818 2,391
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
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.
Mr S Cobb
Director
Approved by the board on 25 January 2024
COBB THATCH RENTALS LTD
Notes to the Accounts
for the year ended 30 June 2023
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:
Equipment over 5 years
Farm building over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Improvements to premises
Cost
At 1 July 2022 21,352
Additions 7,758
At 30 June 2023 29,110
Amortisation
At 30 June 2023 -
Net book value
At 30 June 2023 29,110
At 30 June 2022 21,352
4 Tangible fixed assets
Land and buildings Equip Total
£ £ £
Cost
At 1 July 2022 14,239 - 14,239
Additions 20,261 2,610 22,871
At 30 June 2023 34,500 2,610 37,110
Depreciation
Charge for the year 4,052 522 4,574
At 30 June 2023 4,052 522 4,574
Net book value
At 30 June 2023 30,448 2,088 32,536
At 30 June 2022 14,239 - 14,239
5 Debtors 2023 2022
£ £
Directors' loan accounts 12,717 3,117
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs - 538
Other creditors 1,038 400
1,038 938
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,000 15,000
Other creditors 54,974 22,923
69,974 37,923
8 Other information
COBB THATCH RENTALS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Lydmore House
St Ann's Fort
Kings Lynn
Norfolk
PE30 2EU
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