2023-03-012024-02-292024-02-29false05032283COWIE CONSTRUCTION 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COWIE CONSTRUCTION LTD

Registered Number
05032283
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

COWIE CONSTRUCTION LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

COWIE, Keith George
COWIE, Selina Claire

Company Secretary

COWIE, Selina Claire

Registered Address

30 Grange Meadow
Banstead
SM7 3RD

Registered Number

05032283 (England and Wales)
COWIE CONSTRUCTION LTD
Statement of Financial Position
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets48,49611,328
8,49611,328
Current assets
Debtors12,70545,825
Cash at bank and on hand476,982445,343
489,687491,168
Creditors amounts falling due within one year5(261,550)(282,650)
Net current assets (liabilities)228,137208,518
Total assets less current liabilities236,633219,846
Creditors amounts falling due after one year6(13,950)(25,182)
Provisions for liabilities8(1,614)(2,606)
Net assets221,069192,058
Capital and reserves
Called up share capital100100
Profit and loss account220,969191,958
Shareholders' funds221,069192,058
The financial statements were approved and authorised for issue by the Board of Directors on 19 July 2024, and are signed on its behalf by:
COWIE, Keith George
Director
Registered Company No. 05032283
COWIE CONSTRUCTION LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
Basis of preparation
The financial statements have been prepared under the historical cost convention, unless otherwise specified within accounting policies. The principal accounting policies adopted are set out below.
Turnover policy
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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Intangible assets
Goodwill, being the amount paid in connection with acquisition of the business in 2003, has been amortised evenly over its estimated useful life of 15 years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year22
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 March 2315,00015,000
At 29 February 2415,00015,000
Amortisation and impairment
At 01 March 2315,00015,000
At 29 February 2415,00015,000
Net book value
At 29 February 24--
At 28 February 23--
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 March 237,17323,4723,82334,468
At 29 February 247,17323,4723,82334,468
Depreciation and impairment
At 01 March 236,95713,5702,61323,140
Charge for year542,4753032,832
At 29 February 247,01116,0452,91625,972
Net book value
At 29 February 241627,4279078,496
At 28 February 232169,9021,21011,328
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2,708-
Bank borrowings and overdrafts10,1629,911
Taxation and social security22,47841,315
Finance lease and HP contracts1,0711,835
Other creditors220,742225,463
Accrued liabilities and deferred income4,3894,126
Total261,550282,650
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts13,95024,111
Other creditors-1,071
Total13,95025,182
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts-1,071
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,6142,606
Total1,6142,606