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Registration number: 05769385

Rupert Cordle Town & Country Limited

Annual Report and Unaudited Financial Statements Year Ended 31 October 2023

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Chartered Accountants

 

Rupert Cordle Town & Country Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

Rupert Cordle Town & Country Limited

Company Information

Director

Mr R Cordle

Company secretary

Mrs K Hobbs

Registered office

34 Albert Bridge Road
Battersea
London
SW11 4PY

Accountants

Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Rupert Cordle Town & Country Limitedfor the Year Ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Rupert Cordle Town & Country Limited for the year ended 31 October 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Rupert Cordle Town & Country Limited, as a body, in accordance with the terms of our engagement letter dated 11 April 2006. Our work has been undertaken solely to prepare for your approval the accounts of Rupert Cordle Town & Country Limited and state those matters that we have agreed to state to the Board of Directors of Rupert Cordle Town & Country Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rupert Cordle Town & Country Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Rupert Cordle Town & Country Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Rupert Cordle Town & Country Limited. You consider that Rupert Cordle Town & Country Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Rupert Cordle Town & Country Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

31 July 2023

 

Rupert Cordle Town & Country Limited

(Registration number: 05769385)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

1

1

Tangible assets

5

98,294

139,423

 

98,295

139,424

Current assets

 

Stocks

6

-

53,000

Debtors

7

379,521

551,695

Cash at bank and in hand

 

67,060

147,481

 

446,581

752,176

Creditors: Amounts falling due within one year

8

(252,849)

(463,697)

Net current assets

 

193,732

288,479

Total assets less current liabilities

 

292,027

427,903

Creditors: Amounts falling due after more than one year

8

(17,187)

(44,290)

Net assets

 

274,840

383,613

Capital and reserves

 

Called up share capital

9

4

4

Retained earnings

274,836

383,609

Shareholders' funds

 

274,840

383,613

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 July 2023
 



Mr R Cordle
Director

 

Rupert Cordle Town & Country Limited

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.

The address of its registered office is:
34 Albert Bridge Road
Battersea
London
SW11 4PY

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office improvements

10% straight line basis

Furniture and fittings including computer equipment

25% reducing balance basis

Machinery and equipment

25% reducing balance basis

Motor vehicles

25% reducing balance basis

 

Rupert Cordle Town & Country Limited

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

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Nil

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Rupert Cordle Town & Country Limited

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 4).

 

Rupert Cordle Town & Country Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2022

1

1

At 31 October 2023

1

1

Amortisation

Carrying amount

At 31 October 2023

1

1

At 31 October 2022

1

1

 

Rupert Cordle Town & Country Limited

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

5

Tangible assets

Office improvements
£

Furniture and fittings including computer equipment
 £

Motor vehicles
 £

Machinery and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

20,000

39,071

134,166

86,376

279,613

Disposals

-

-

(26,438)

-

(26,438)

At 31 October 2023

20,000

39,071

107,728

86,376

253,175

Depreciation

At 1 November 2022

20,000

37,314

82,875

21,594

161,783

Charge for the year

-

439

10,732

-

11,171

Eliminated on disposal

-

-

(18,073)

-

(18,073)

At 31 October 2023

20,000

37,753

75,534

21,594

154,881

Carrying amount

At 31 October 2023

-

1,318

32,194

64,782

98,294

At 31 October 2022

-

1,757

51,291

86,375

139,423

 

Rupert Cordle Town & Country Limited

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

6

Stocks

2023
£

2022
£

Work in progress

-

53,000

7

Debtors

Current

2023
£

2022
£

Trade debtors

-

201,299

Prepayments

-

3,650

Other debtors

379,521

346,746

 

379,521

551,695

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

10

19,166

28,516

Trade creditors

 

-

14,631

Taxation and social security

 

45,075

67,794

Other creditors

 

188,608

352,756

 

252,849

463,697

Due after one year

 

Loans and borrowings

10

17,187

44,290

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

17,187

44,290

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

4

4

4

4

         
 

Rupert Cordle Town & Country Limited

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

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

9,563

27,500

Hire purchase contracts

7,624

16,790

17,187

44,290

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

10,000

Hire purchase contracts

9,166

18,516

19,166

28,516

11

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £5,500.00 (2022 - £28,750.00) per ordinary share

 

22,000

 

115,000

         

12

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

154,083

155,000

Contributions paid to money purchase schemes

1,210

1,321

155,293

156,321

Other transactions with directors

At the year end Director owed £177,300 (2022 £247,971) to the company