Company registration number 02591170 (England and Wales)
COWAN HEAD ESTATE COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
COWAN HEAD ESTATE COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
COWAN HEAD ESTATE COMPANY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
12,754
15,389
Current assets
Debtors
4
28,825
41,797
Cash at bank and in hand
74,657
214,898
103,482
256,695
Creditors: amounts falling due within one year
5
(59,783)
(42,247)
Net current assets
43,699
214,448
Net assets
56,453
229,837
Capital and reserves
Called up share capital
60
60
General reserves
56,393
229,777
Total equity
56,453
229,837

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 26 June 2024 and are signed on its behalf by:
Mr B Salisbury
Director
Company registration number 02591170 (England and Wales)
COWAN HEAD ESTATE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Cowan Head Estate Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 New Park House, Peel Hall Business Park, Peel Road, Blackpool, Lancashire, FY4 5JX.

1.1
Accounting convention

The accounts are prepared on an accruals basis in accordance with the provisions of the lease and the accounting records maintained by the managing agents of the property, in so far as these records concern the management of the property on behalf of Cowan Head. The landlord has relied on representations made and warranties given by the managing agent inter alia that proper accounting records and controls have been maintained on behalf of the scheme.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% - 5% straight line
Plant and equipment
20% - 33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

COWAN HEAD ESTATE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.6

Bank account

Service charge funds are held in the designated client accounts as follows:

 

HSBC account no. 21396072

HSBC account no. 71601660

HSBC account no. 71434500

 

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
5
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
12,423
50,129
62,552
Depreciation and impairment
At 1 April 2023
7,284
39,879
47,163
Depreciation charged in the year
585
2,050
2,635
At 31 March 2024
7,869
41,929
49,798
Carrying amount
At 31 March 2024
4,554
8,200
12,754
At 31 March 2023
5,139
10,250
15,389
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Service charges in arrears
3,904
16,881
Prepayments
24,921
24,916
28,825
41,797
COWAN HEAD ESTATE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Service charges in advance
2,636
-
0
Trade creditors
39,196
23,073
Corporation tax
223
150
Other taxation and social security
821
693
Other creditors
-
0
226
Accruals
16,907
18,105
59,783
42,247
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