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REGISTERED NUMBER: 07657421 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Cowan Agricultural Services Ltd

Cowan Agricultural Services Ltd (Registered number: 07657421)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cowan Agricultural Services Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: RW Cowan
SA Cowan





REGISTERED OFFICE: 2 Cricklade Court
Old Town
Swindon
Wiltshire
SN1 3EY





REGISTERED NUMBER: 07657421 (England and Wales)





ACCOUNTANTS: Morley & Co (UK) Ltd
Chartered Certified Accountants,
2 Cricklade Court
Old Town
Swindon
Wiltshire
SN1 3EY

Cowan Agricultural Services Ltd (Registered number: 07657421)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 63,885 85,181

CURRENT ASSETS
Debtors 5 46,741 47,130
Cash at bank 418,112 373,480
464,853 420,610
CREDITORS
Amounts falling due within one year 6 69,021 69,472
NET CURRENT ASSETS 395,832 351,138
TOTAL ASSETS LESS CURRENT
LIABILITIES

459,717

436,319

CREDITORS
Amounts falling due after more than one
year

7

-

(3,129

)

PROVISIONS FOR LIABILITIES (12,139 ) (10,024 )
NET ASSETS 447,578 423,166

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 447,378 422,966
SHAREHOLDERS' FUNDS 447,578 423,166

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Cowan Agricultural Services Ltd (Registered number: 07657421)

Balance Sheet - continued
30 April 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2024 and were signed on its behalf by:




RW Cowan - Director



SA Cowan - Director


Cowan Agricultural Services Ltd (Registered number: 07657421)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Cowan Agricultural Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Tractors - 25% on reducing balance
Implements - 25% on reducing balance

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Basic financial instruments, including trade and other receivables and payables, cash and bank balances, bank loans and loans to or from other group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Cowan Agricultural Services Ltd (Registered number: 07657421)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Tractors Implements Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 176,980 82,989 259,969
DEPRECIATION
At 1 May 2023 105,971 68,817 174,788
Charge for year 17,753 3,543 21,296
At 30 April 2024 123,724 72,360 196,084
NET BOOK VALUE
At 30 April 2024 53,256 10,629 63,885
At 30 April 2023 71,009 14,172 85,181

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Tractors
£   
COST
At 1 May 2023
and 30 April 2024 83,500
DEPRECIATION
At 1 May 2023 15,656
Charge for year 16,961
At 30 April 2024 32,617
NET BOOK VALUE
At 30 April 2024 50,883
At 30 April 2023 67,844

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 46,741 47,130

Cowan Agricultural Services Ltd (Registered number: 07657421)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 3,129 18,774
Trade creditors 194 7
Taxation and social security 10,626 7,170
Other creditors 55,072 43,521
69,021 69,472

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 3,129