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Registered Number: 06587142
England and Wales

 

 

 

COCHRANE PARK WINES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 May 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Account Links
31 May 2024



....................................................
Account Links
Unit 32, i8 Newcastle Enterprise Centre
Lynnwood Terrace
Newcastle Upon Tyne
NE4 6UL
26 September 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 38,800    56,750 
Tangible fixed assets 4 103,308    117,482 
142,108    174,232 
Current assets      
Stocks 187,250    162,500 
Debtors 337,374    338,383 
Cash at bank and in hand 82,596    43,327 
607,220    544,210 
Creditors: amount falling due within one year (444,038)   (404,081)
Net current assets 163,182    140,129 
 
Total assets less current liabilities 305,290    314,361 
Creditors: amount falling due after more than one year (31,229)   (43,659)
Net assets 274,061    270,702 
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account 273,961    270,602 
Shareholders' funds 274,061    270,702 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 26 September 2024 and were signed on its behalf by:


-------------------------------
Shabeeir Mohammed
Director
2
General Information
COCHRANE PARK WINES LTD is a private company, limited by shares, registered in England and Wales, registration number 06587142, registration address Unit 32, i8 Enterprise, L, Lynnwood Terrace, Newcastle upon Tyne,NE4 6UL, TYNE & WEAR, NE4 6UL. The trading address of the company is Premier Express, 90 Shields Road Byker NE6 1DP, Premier Express, 6 Reh Hall Drive NE7 7LH, Your Local Store, Front Street, Durham DH7 6LE, Lifestyle Express, 196 Shield Road Byker NE7 7LH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25 Reducing Balance
Fixtures and Fittings 15 Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 7 (2023 : 7).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 June 2023 179,500    179,500 
Additions  
Disposals  
At 31 May 2024 179,500    179,500 
Amortisation
At 01 June 2023 122,750    122,750 
Charge for year 17,950    17,950 
On disposals  
At 31 May 2024 140,700    140,700 
Net book values
At 31 May 2024 38,800    38,800 
At 31 May 2023 56,750    56,750 


4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Investment properties   Total
  £   £   £   £
At 01 June 2023 71,827    28,801    60,000    160,628 
Additions      
Disposals      
At 31 May 2024 71,827    28,801    60,000    160,628 
Depreciation
At 01 June 2023 16,313    26,833      43,146 
Charge for year 14,174        14,174 
On disposals      
At 31 May 2024 30,487    26,833      57,320 
Net book values
Closing balance as at 31 May 2024 41,340    1,968    60,000    103,308 
Opening balance as at 01 June 2023 55,514    1,968    60,000    117,482 


5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

3