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Registered number: 05569516
Cottingham (Waltham) Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
UK Tax Accountants
89 Jacobs Well Lane
Wakefield
WF1 3PB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 05569516
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 362,619 362,619
Tangible Assets 5 36,079 44,115
Investments 6 275,000 -
673,698 406,734
CURRENT ASSETS
Stocks 7 37,123 35,430
Debtors 8 228,345 322,848
Cash at bank and in hand 49,790 66,563
315,258 424,841
Creditors: Amounts Falling Due Within One Year 9 (337,397 ) (277,257 )
NET CURRENT ASSETS (LIABILITIES) (22,139 ) 147,584
TOTAL ASSETS LESS CURRENT LIABILITIES 651,559 554,318
Creditors: Amounts Falling Due After More Than One Year 10 (329,015 ) (140,715 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,228 ) (2,228 )
NET ASSETS 320,316 411,375
CAPITAL AND RESERVES
Called up share capital 12 2 2
Profit and Loss Account 320,314 411,373
SHAREHOLDERS' FUNDS 320,316 411,375
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Wasim Malik
Director
1st July 2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cottingham (Waltham) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05569516 . The registered office is 41 High Street, Waltham, Grimsby, North East Lincolnshire, DN37 0LJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15
Motor Vehicles 15
Fixtures & Fittings 15
Computer Equipment 15
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2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2022: 11)
11 11
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2022 1,160,000
As at 31 October 2023 1,160,000
Amortisation
As at 1 November 2022 797,381
As at 31 October 2023 797,381
Net Book Value
As at 31 October 2023 362,619
As at 1 November 2022 362,619
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2022 551 55,778 84,660 42,040 183,029
As at 31 October 2023 551 55,778 84,660 42,040 183,029
Depreciation
As at 1 November 2022 83 25,090 71,701 42,040 138,914
Provided during the period 83 6,009 1,944 - 8,036
As at 31 October 2023 166 31,099 73,645 42,040 146,950
...CONTINUED
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Net Book Value
As at 31 October 2023 385 24,679 11,015 - 36,079
As at 1 November 2022 468 30,688 12,959 - 44,115
6. Investments
Listed
£
Cost
As at 1 November 2022 -
Additions 275,000
As at 31 October 2023 275,000
Provision
As at 1 November 2022 -
As at 31 October 2023 -
Net Book Value
As at 31 October 2023 275,000
As at 1 November 2022 -
7. Stocks
2023 2022
£ £
Finished goods 37,123 35,430
8. Debtors
2023 2022
£ £
Due within one year
VAT 13,021 14,969
Due after more than one year
Amounts owed by associates 215,324 307,879
228,345 322,848
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9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 239,832 224,481
Bank loans and overdrafts 68,255 -
Corporation tax 22,655 24,225
Accruals and deferred income 5,887 12,630
Director's loan account 768 15,921
337,397 277,257
10. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 37,005 45,083
Bank Loan 2 33,339 73,138
Bank Loan 3 258,671 22,494
329,015 140,715
11. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year - -
Later than one year and not later than five years 37,005 45,083
37,005 45,083
37,005 45,083
12. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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