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COMPANY REGISTRATION NUMBER: 13114574
Cotswold Land Agent Limited
Filleted Unaudited Abridged Financial Statements
31 December 2023
Cotswold Land Agent Limited
Abridged Financial Statements
Year ended 31 December 2023
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Cotswold Land Agent Limited
Abridged Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
106,641
96,132
Investments
6
53,483
50,580
---------
---------
160,124
146,712
Current assets
Debtors
265,848
265,848
Cash at bank and in hand
31,737
31,465
---------
---------
297,585
297,313
Creditors: amounts falling due within one year
61,379
158,436
---------
---------
Net current assets
236,206
138,877
---------
---------
Total assets less current liabilities
396,330
285,589
---------
---------
Net assets
396,330
285,589
---------
---------
Capital and reserves
Called up share capital
100
100
Share premium account
50,580
50,580
Revaluation reserve
14,464
Profit and loss account
331,186
234,909
---------
---------
Shareholders funds
396,330
285,589
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the year ending 31 December 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 abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Cotswold Land Agent Limited
Abridged Statement of Financial Position (continued)
31 December 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 10 September 2024 , and are signed on behalf of the board by:
Mr D E Jackson
Director
Company registration number: 13114574
Cotswold Land Agent Limited
Notes to the Abridged Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Midway House, Staverton Technology Park, Herrick Way, Cheltenham, Gloucestershire, GL51 6TQ, UK.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property
-
10% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
£
Cost or valuation
At 1 January 2023
100,087
Revaluations
14,464
---------
At 31 December 2023
114,551
---------
Depreciation
At 1 January 2023
3,955
Charge for the year
3,955
---------
At 31 December 2023
7,910
---------
Carrying amount
At 31 December 2023
106,641
---------
At 31 December 2022
96,132
---------
6. Investments
£
Cost
At 1 January 2023
50,580
Additions
2,903
--------
At 31 December 2023
53,483
--------
Impairment
At 1 January 2023 and 31 December 2023
--------
Carrying amount
At 31 December 2023
53,483
--------
At 31 December 2022
50,580
--------