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Registration number: 13097906

Cwmdu Cottages Ltd

Annual Report and

Unaudited Financial Statements


for the Year Ended 31 December 2023

 

Cwmdu Cottages Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Financial Statements

5 to 8

 

Cwmdu Cottages Ltd

Company Information

Directors

Mr M T J Farr

Miss S J Farr

Mr M J Farr

Registered office


52 Oakfield Drive
Crickhowell
Powys
NP8 1DU
 

Bankers

NatWest Bank plc
9 High Street
Abergavenny
Monmouthshire
NP7 5SA

Accountants

W J James & Co
Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Cwmdu Cottages Ltd

(Registration number: 13097906)

Balance Sheet
as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

19,209

20,924

Current assets

 

Debtors

5

3,062

-

Cash at bank and in hand

 

30,209

34,805

 

33,271

34,805

Creditors: Amounts falling due within one year

6

(35,062)

(36,138)

Net current liabilities

 

(1,791)

(1,333)

Total assets less current liabilities

 

17,418

19,591

Provisions for liabilities

(4,030)

(3,976)

Net assets

 

13,388

15,615

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

13,288

15,515

Total equity

 

13,388

15,615

For the financial 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.

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.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

 

Cwmdu Cottages Ltd

(Registration number: 13097906)

Balance Sheet
as at 31 December 2023

Approved and authorised by the Board on 9 September 2024 and signed on its behalf by:
 

.........................................

Miss S J Farr

Director

 

Cwmdu Cottages Ltd

Statement of Changes in Equity
for the Year Ended 31 December 2023

Share capital
£

Profit and loss account
£

Total
£

At 1 January 2023

100

15,515

15,615

Profit for the year

-

273

273

Total comprehensive income

-

273

273

Dividends

-

(2,500)

(2,500)

At 31 December 2023

100

13,288

13,388



 

Share capital
£

Profit and loss account
£

Total
£

At 1 January 2022

100

8,543

8,643

Profit for the year

-

18,972

18,972

Total comprehensive income

-

18,972

18,972

Dividends

-

(12,000)

(12,000)

At 31 December 2022

100

15,515

15,615

 

Cwmdu Cottages Ltd

Notes to the Financial Statements
for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
52 Oakfield Drive
Crickhowell
Powys
NP8 1DU

These financial statements were authorised for issue by the Board on 9 September 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 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.

The financial statements are presented in pounds sterling, which is the functional currency of the company, and rounded to the nearest £1.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the letting of the two furnishrd holiday lets operated by the company.

Turnover is recognised when the lettings have taken place.

Tax

The tax expense for the period comprises current and deferred 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 UK which is where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Cwmdu Cottages Ltd

Notes to the Financial Statements
for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% straight line

lant and machinery

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

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.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash received .

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 2 (2022 - 3).

 

Cwmdu Cottages Ltd

Notes to the Financial Statements
for the Year Ended 31 December 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

3,353

18,500

21,853

Additions

3,241

-

3,241

At 31 December 2023

6,594

18,500

25,094

Depreciation

At 1 January 2023

615

314

929

Charge for the year

1,319

3,637

4,956

At 31 December 2023

1,934

3,951

5,885

Carrying amount

At 31 December 2023

4,660

14,549

19,209

At 31 December 2022

2,738

18,186

20,924

5

Debtors

2023
£

2022
£

Trade debtors

3,062

-

3,062

-

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11,914

13,420

Taxation and social security

 

1,475

880

Accruals and deferred income

 

1,680

1,560

Other creditors

 

19,993

20,278

 

35,062

36,138

 

Cwmdu Cottages Ltd

Notes to the Financial Statements
for the Year Ended 31 December 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

25

25

25

25

Ordinary B of £1 each

50

50

50

50

Ordinary C of £1 each

25

25

25

25

 

100

100

100

100