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Registration number: 06009033

Coturnix Cottages Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Coturnix Cottages Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Coturnix Cottages Ltd

(Registration number: 06009033)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

472,212

472,212

Current assets

 

Debtors

6

764

14,998

Cash at bank and in hand

 

571

1,234

 

1,335

16,232

Creditors: Amounts falling due within one year

7

(343,446)

(326,479)

Net current liabilities

 

(342,111)

(310,247)

Net assets

 

130,101

161,965

Capital and reserves

 

Called up share capital

210

210

Retained earnings

129,891

161,755

Shareholders' funds

 

130,101

161,965

For the financial 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.

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 31 July 2024 and signed on its behalf by:
 

.........................................
Mr R S Beaumont
Company secretary and director

 

Coturnix Cottages Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
Grove Park Drive
Lockinge
Wantage
Oxfordshire
OX12 8SG

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.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

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.

Debtors

Trade debtors are amounts due from customers for cottage rental services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

Coturnix Cottages Ltd

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

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

Taxation

2023

2022

£

£

Corporation tax

-

(4,400)

-

(4,400)

4

Staff numbers

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

5

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 November 2022

472,212

472,212

At 31 October 2023

472,212

472,212

Depreciation

Carrying amount

At 31 October 2023

472,212

472,212

At 31 October 2022

472,212

472,212

Included within the net book value of land and buildings above is £472,212 (2022 - £472,212) in respect of freehold land and buildings.
 

 

Coturnix Cottages Ltd

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

6

Debtors

Current

2023
£

2022
£

Other debtors

764

14,998

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

290,000

290,000

Trade creditors

180

263

Taxation and social security

33,417

34,216

Other creditors

19,849

2,000

343,446

326,479

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

290,000

290,000

9

Related party transactions

Other transactions with directors

Mr R S Beaumont and Mrs J Beaumont had a loan account with the company. At the balance sheet date the amount due to/(from) Mr R S Beaumont and Mrs J Beaumont was £11,647 (2022: (£14,715)).