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Registered number: 01212439
Cotterill Plastering Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
ABS Henn
Chartered Certified Accountants
Contents
Page
Accountant's Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Cotterill Plastering Limited for the year ended 31 December 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Cotterill Plastering Limited which comprise the Income Statement, the Statement of Financial Position and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Cotterill Plastering Limited , as a body, in accordance with the terms of our engagement letter dated 19 August 2021. Our work has been undertaken solely to prepare for your approval the accounts of Cotterill Plastering Limited and state those matters that we have agreed to state to the directors of Cotterill Plastering Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cotterill Plastering Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Cotterill Plastering Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Cotterill Plastering Limited . You consider that Cotterill Plastering Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Cotterill Plastering Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
20th September 2024
ABS Henn
Chartered Certified Accountants
Creative Industries Building, Mammoth Drive
Wolverhampton Science Park
Wolverhampton
West Midlands
WV10 9TG
Page 1
Page 2
Statement of Financial Position
Registered number: 01212439
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 465 547
Investment Properties 5 200,000 200,000
200,465 200,547
CURRENT ASSETS
Investments 6 373,620 366,664
Cash at bank and in hand 6,447 5,412
380,067 372,076
Creditors: Amounts Falling Due Within One Year 7 (4,693 ) (6,923 )
NET CURRENT ASSETS (LIABILITIES) 375,374 365,153
TOTAL ASSETS LESS CURRENT LIABILITIES 575,839 565,700
PROVISIONS FOR LIABILITIES
Deferred Taxation (33,334 ) (33,334 )
NET ASSETS 542,505 532,366
CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair Value Reserve 9 151,479 151,479
Income Statement 390,926 380,787
SHAREHOLDERS' FUNDS 542,505 532,366
Page 2
Page 3
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.
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
B A Cotterill
Director
20th September 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Cotterill Plastering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01212439 . The registered office is 11a Ennerdale Road, Tettenhall, Wolverhampton, West Midlands, WV6 9DH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% Reducing Balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. 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.
Deferred tax is recognised on 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 January 2023 13,151
As at 31 December 2023 13,151
Depreciation
As at 1 January 2023 12,604
Provided during the period 82
As at 31 December 2023 12,686
Net Book Value
As at 31 December 2023 465
As at 1 January 2023 547
5. Investment Property
2023
£
Fair Value
As at 1 January 2023 and 31 December 2023 200,000
6. Current Asset Investments
2023 2022
£ £
Short term deposits 373,620 366,664
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 2,398 2,689
Accruals and deferred income 1,500 1,500
Directors' loan accounts 795 2,734
4,693 6,923
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5
Page 6
9. Reserves
Fair Value Reserve
£
As at 1 January 2023 151,479
As at 31 December 2023 151,479
Page 6