Company Registration No. 01989906 (England and Wales)
Peter & Frances Cowen Limited
Unaudited accounts
for the year ended 31 March 2024
Peter & Frances Cowen Limited
Unaudited accounts
Contents
Peter & Frances Cowen Limited
Company Information
for the year ended 31 March 2024
Directors
Mr P D Cowen
Mrs A F Cowen
Company Number
01989906 (England and Wales)
Registered Office
Churchill House
137-139 Brent Street
London
NW4 4DJ
Accountants
Clearfin Accountants Limited
Churchill House
137-139 Brent Street
London
NW4 4DJ
Peter & Frances Cowen Limited
Statement of financial position
as at 31 March 2024
Investment property
3,085,000
3,085,000
Cash at bank and in hand
26,568
70,256
Creditors: amounts falling due within one year
(56,682)
(84,756)
Net current assets
306,043
251,232
Total assets less current liabilities
3,391,043
3,336,232
Creditors: amounts falling due after more than one year
(16,545)
(33,537)
Provisions for liabilities
Deferred tax
(37,241)
(37,241)
Net assets
3,337,257
3,265,454
Called up share capital
2
2
Fair value reserve
818,169
818,169
Profit and loss account
2,519,086
2,447,283
Shareholders' funds
3,337,257
3,265,454
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by
Mr P D Cowen
Director
Company Registration No. 01989906
Peter & Frances Cowen Limited
Notes to the Accounts
for the year ended 31 March 2024
Peter & Frances Cowen Limited is a private company, limited by shares, registered in England and Wales, registration number 01989906. The registered office is Churchill House, 137-139 Brent Street , London, NW4 4DJ .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents rents receivable and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 April 2023
3,085,000
At 31 March 2024
3,085,000
The investment properties were valued by the directors on an open market for existing use basis.
Peter & Frances Cowen Limited
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Accrued income and prepayments
522
522
Other debtors
335,635
265,210
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
18,452
17,595
Taxes and social security
18,264
16,985
Other creditors
13,480
13,480
Loans from directors
4,926
35,256
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).