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Registration number: 12990341

Cornish Shore Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Cornish Shore Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Cornish Shore Ltd

Company Information

Directors

Deborah Jane McColl

Alan John McColl

Registered office

The Grain Loft
Higher Treliever Farm
Longdowns
Penryn
Cornwall
TR10 9DH

Accountants

Julia Evans Accountants Ltd
79-81 Boslowick Road
Falmouth
Cornwall
TR11 4QD

 

Cornish Shore Ltd

(Registration number: 12990341)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

396,849

398,011

Current assets

 

Debtors

5

2,352

2,086

Cash at bank and in hand

 

4,048

7,311

 

6,400

9,397

Creditors: Amounts falling due within one year

6

(383,205)

(393,266)

Net current liabilities

 

(376,805)

(383,869)

Total assets less current liabilities

 

20,044

14,142

Provisions for liabilities

(662)

(883)

Net assets

 

19,382

13,259

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

19,380

13,257

Shareholders' funds

 

19,382

13,259

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.

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.

 

Cornish Shore Ltd

(Registration number: 12990341)
Balance Sheet as at 30 November 2023

Approved and authorised by the Board on 29 August 2024 and signed on its behalf by:
 

.........................................
Deborah Jane McColl
Director

.........................................
Alan John McColl
Director

 

Cornish Shore Ltd

Notes to the Unaudited 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 Grain Loft
Higher Treliever Farm
Longdowns
Penryn
Cornwall
TR10 9DH

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.

Going concern

The financial statements have been prepared on a going concern basis.

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

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

 

Cornish Shore Ltd

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

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.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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 and Fittings

25% reducing balance

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 2).

 

Cornish Shore Ltd

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

393,363

8,039

401,402

At 30 November 2023

393,363

8,039

401,402

Depreciation

At 1 December 2022

-

3,391

3,391

Charge for the year

-

1,162

1,162

At 30 November 2023

-

4,553

4,553

Carrying amount

At 30 November 2023

393,363

3,486

396,849

At 30 November 2022

393,363

4,648

398,011

Included within the net book value of land and buildings above is £393,363 (2022 - £393,363) in respect of freehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Trade debtors

1,480

1,396

Prepayments

872

690

 

2,352

2,086

 

Cornish Shore Ltd

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

332

124

Taxation and social security

2,169

2,703

Accruals and deferred income

85

95

Other creditors

380,619

390,344

383,205

393,266

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2