Registered number
07399576
Cottrell Motor Co Limited
Filleted Accounts
31 October 2023
Cottrell Motor Co Limited
Registered number: 07399576
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Current assets
Stocks 255,958 237,420
Debtors 3 - 15,405
Cash at bank and in hand 57,813 97,365
313,771 350,190
Creditors: amounts falling due within one year 4 (47,586) (46,385)
Net current assets 266,185 303,805
Total assets less current liabilities 266,185 303,805
Creditors: amounts falling due after more than one year 5 (87,287) (128,228)
Net assets 178,898 175,577
Capital and reserves
Called up share capital 1 1
Profit and loss account 178,897 175,576
Shareholder's funds 178,898 175,577
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
E.R.P. Cottrell
Director
Approved by the board on 19 June 2024
Cottrell Motor Co Limited
Notes to the Accounts
for the year ended 31 October 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 3 3
3 Debtors 2023 2022
£ £
Trade debtors - 11,155
Other debtors - 4,250
- 15,405
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,000 9,000
Trade creditors 2,514 15,501
Taxation and social security costs 16,421 9,928
Other creditors 19,651 11,956
47,586 46,385
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bounce back loan 14,880 23,729
Other creditors 72,407 104,499
87,287 128,228
6 Loans 2023 2022
£ £
Creditors include:
Bounce back loan 23,880 32,729
23,880 32,729
7 Controlling party
The company is controlled by E.R.P. Cottrell by virtue of his controlling interest.
8 Other information
Cottrell Motor Co Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Little Lowes Meadow
Lowton
Warrington
WA3 2XB
Cottrell Motor Co Limited 07399576 false 2022-11-01 2023-10-31 2023-10-31 VT Final Accounts April 2024 E.R.P. Cottrell No description of principal activity 07399576 2021-11-01 2022-10-31 07399576 core:WithinOneYear 2022-10-31 07399576 core:AfterOneYear 2022-10-31 07399576 core:ShareCapital 2022-10-31 07399576 core:RetainedEarningsAccumulatedLosses 2022-10-31 07399576 core:MoreThanFiveYears 2022-10-31 07399576 2022-11-01 2023-10-31 07399576 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 07399576 bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 07399576 bus:Director40 2022-11-01 2023-10-31 07399576 1 2022-11-01 2023-10-31 07399576 2 2022-11-01 2023-10-31 07399576 countries:England 2022-11-01 2023-10-31 07399576 bus:FRS102 2022-11-01 2023-10-31 07399576 bus:FilletedAccounts 2022-11-01 2023-10-31 07399576 2023-10-31 07399576 core:WithinOneYear 2023-10-31 07399576 core:AfterOneYear 2023-10-31 07399576 core:ShareCapital 2023-10-31 07399576 core:RetainedEarningsAccumulatedLosses 2023-10-31 07399576 core:MoreThanFiveYears 2023-10-31 07399576 2022-10-31 iso4217:GBP xbrli:pure