IRIS Accounts Production v24.2.0.383 07787491 director 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 Preference 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh077874912023-03-31077874912024-03-31077874912023-04-012024-03-31077874912022-03-31077874912022-04-012023-03-31077874912023-03-3107787491ns15:EnglandWales2023-04-012024-03-3107787491ns14:PoundSterling2023-04-012024-03-3107787491ns10:Director12023-04-012024-03-3107787491ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107787491ns10:SmallEntities2023-04-012024-03-3107787491ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3107787491ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107787491ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107787491ns10:FullAccounts2023-04-012024-03-3107787491ns10:OrdinaryShareClass12023-04-012024-03-3107787491ns10:OrdinaryShareClass22023-04-012024-03-3107787491ns5:CurrentFinancialInstruments2024-03-3107787491ns5:CurrentFinancialInstruments2023-03-3107787491ns5:Non-currentFinancialInstruments2024-03-3107787491ns5:Non-currentFinancialInstruments2023-03-3107787491ns5:ShareCapital2024-03-3107787491ns5:ShareCapital2023-03-3107787491ns5:CapitalRedemptionReserve2024-03-3107787491ns5:CapitalRedemptionReserve2023-03-3107787491ns5:RetainedEarningsAccumulatedLosses2024-03-3107787491ns5:RetainedEarningsAccumulatedLosses2023-03-3107787491ns10:RegisteredOffice2023-04-012024-03-3107787491ns5:PlantMachinery2023-03-3107787491ns5:PlantMachinery2023-04-012024-03-3107787491ns5:PlantMachinery2024-03-3107787491ns5:PlantMachinery2023-03-3107787491ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107787491ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107787491ns5:WithinOneYear2024-03-3107787491ns5:WithinOneYear2023-03-3107787491ns5:BetweenOneFiveYears2024-03-3107787491ns5:BetweenOneFiveYears2023-03-3107787491ns5:AllPeriods2024-03-3107787491ns5:AllPeriods2023-03-3107787491ns10:OrdinaryShareClass12024-03-3107787491ns10:OrdinaryShareClass22024-03-31
REGISTERED NUMBER: 07787491 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Cottingham Technical Services Limited

Cottingham Technical Services Limited (Registered number: 07787491)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Cottingham Technical Services Limited (Registered number: 07787491)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,175 31,735

CURRENT ASSETS
Stocks 20,000 20,000
Debtors 5 1,377,368 764,796
Cash at bank 1,337,946 1,080,669
2,735,314 1,865,465
CREDITORS
Amounts falling due within one year 6 2,082,529 996,421
NET CURRENT ASSETS 652,785 869,044
TOTAL ASSETS LESS CURRENT
LIABILITIES

674,960

900,779

CREDITORS
Amounts falling due after more than one
year

7

(20,753

)

(30,747

)

PROVISIONS FOR LIABILITIES (2,361 ) (4,815 )
NET ASSETS 651,846 865,217

CAPITAL AND RESERVES
Called up share capital 9 50 100
Capital redemption reserve 150 100
Retained earnings 651,646 865,017
SHAREHOLDERS' FUNDS 651,846 865,217

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Cottingham Technical Services Limited (Registered number: 07787491)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2024 and were signed by:





S A Palmer - Director


Cottingham Technical Services Limited (Registered number: 07787491)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Cottingham Technical Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07787491

Registered office: 201 Hallgate
Cottingham
East Yorkshire
HU16 4BB

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to give a true and fair view.

The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised on delivery. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Cottingham Technical Services Limited (Registered number: 07787491)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets, other than freehold land, at rates calculated to write off the cost less estimated residual value of each asset on a straight line basis over its expected useful life.

Leasehold improvements: over the term of the lease
Plant, office equipment,
fixtures & fittings: 20% reducing balance, 33% straight line
Motor Vehicles: 25% reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The need for any fixed asset impairment write down is assessed by comparison of the carrying value of the assets against the higher of realisable value and value in use.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, other debtors, cash and bank balances, trade creditors, other creditors and bank loans..

Trade debtors, other debtors, cash and bank balances, trade creditors, other creditors are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest and subsequently measured at amortised cost using the effective interest method.


Cottingham Technical Services Limited (Registered number: 07787491)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

Where material, the cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Leases
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets

An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had impairment not been recognised.

Cottingham Technical Services Limited (Registered number: 07787491)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 133,761
Additions 2,052
At 31 March 2024 135,813
DEPRECIATION
At 1 April 2023 102,026
Charge for year 11,612
At 31 March 2024 113,638
NET BOOK VALUE
At 31 March 2024 22,175
At 31 March 2023 31,735

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 963,760 480,718
Other debtors 413,608 284,078
1,377,368 764,796

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,994 9,747
Trade creditors 337,071 117,752
Taxation and social security 134,861 82,990
Other creditors 1,600,603 785,932
2,082,529 996,421

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 20,753 30,747

Cottingham Technical Services Limited (Registered number: 07787491)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 13,500 18,000
Between one and five years - 13,500
13,500 31,500

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
25 Ordinary £1 25 50
25 Preference £1 25 50
50 100

25 £1 ordinary shares and 25 £1 preference shares were repurchased by the company on 21 April 2023.

On the same date, 25 £1 ordinary shares and 25 £1 preference shares were cancelled by the company.