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Registration number: 11056233

Cowtons Community Enterprise Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 November 2023

 

Cowtons Community Enterprise Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Cowtons Community Enterprise Ltd

Company Information

Directors

Mr Stephen Watson

Mrs Susan Blenkin

Michael John Dronsfield

Elizabeth Robinson

Nicholas Jonathan Smith

Company secretary

Mr George Maffey

Registered office

The Shop
East Cowton Village Hall
East Cowton
Northallerton
North Yorkshire
DL7 0DF

Accountants

G W Thompson & Co Accountants Limited
Chartered Certified Accountants
182 Front Street
Chester-le-Street
Co. Durham
DH3 3AZ

 

Cowtons Community Enterprise Ltd

(Registration number: 11056233)
Abridged Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

415

Current assets

 

Stocks

5

750

750

Debtors

46

89

Cash at bank and in hand

 

11,023

35,532

 

11,819

36,371

Creditors: Amounts falling due within one year

(236)

(214)

Net current assets

 

11,583

36,157

Net assets

 

11,583

36,572

Capital and reserves

 

Called up share capital

19,250

33,750

Retained earnings

(7,667)

2,822

Shareholders' funds

 

11,583

36,572

For the financial year ending 30 November 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 2 January 2024 and signed on its behalf by:
 

 

Cowtons Community Enterprise Ltd

(Registration number: 11056233)
Abridged Balance Sheet as at 30 November 2023

.........................................
Mr Stephen Watson
Director

.........................................
Mr George Maffey
Company secretary

 

Cowtons Community Enterprise Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales..

The address of its registered office is:
The Shop
East Cowton Village Hall
East Cowton
Northallerton
North Yorkshire
DL7 0DF

These financial statements were authorised for issue by the Board on 2 January 2024.

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 abridged 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 abridged 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.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Cowtons Community Enterprise Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

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

Fixtures & fittings

20% on cost.

Office equipment

20% on cost.

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.

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.

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.

 

Cowtons Community Enterprise Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 December 2022

21,369

914

22,283

At 30 November 2023

21,369

914

22,283

Depreciation

At 1 December 2022

20,954

914

21,868

Charge for the year

415

-

415

At 30 November 2023

21,369

914

22,283

Carrying amount

At 30 November 2023

-

-

-

At 30 November 2022

415

-

415

5

Stocks

2023
£

2022
£

Other inventories

750

750