Courtland Limited 07030568 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the provision of professional services as chartered accountants. Digita Accounts Production Advanced 6.30.9574.0 true true 07030568 2023-04-01 2024-03-31 07030568 2024-03-31 07030568 core:CurrentFinancialInstruments 2024-03-31 07030568 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07030568 core:Goodwill 2024-03-31 07030568 core:FurnitureFittings 2024-03-31 07030568 bus:SmallEntities 2023-04-01 2024-03-31 07030568 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07030568 bus:FilletedAccounts 2023-04-01 2024-03-31 07030568 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07030568 bus:RegisteredOffice 2023-04-01 2024-03-31 07030568 bus:Director1 2023-04-01 2024-03-31 07030568 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07030568 core:Goodwill 2023-04-01 2024-03-31 07030568 core:FurnitureFittings 2023-04-01 2024-03-31 07030568 core:PlantMachinery 2023-04-01 2024-03-31 07030568 countries:AllCountries 2023-04-01 2024-03-31 07030568 2023-03-31 07030568 core:Goodwill 2023-03-31 07030568 core:FurnitureFittings 2023-03-31 07030568 2022-04-01 2023-03-31 07030568 2023-03-31 07030568 core:CurrentFinancialInstruments 2023-03-31 07030568 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07030568 core:Goodwill 2023-03-31 07030568 core:FurnitureFittings 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 07030568

Courtland Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Courtland Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Courtland Limited

(Registration number: 07030568)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

12,000

19,000

Tangible assets

5

15,000

21,094

 

27,000

40,094

Current assets

 

Debtors

6

41,150

46,675

Investments

7

10,000

10,000

Cash at bank and in hand

 

63,755

64,547

 

114,905

121,222

Creditors: Amounts falling due within one year

8

(7,607)

(7,863)

Net current assets

 

107,298

113,359

Net assets

 

134,298

153,453

Capital and reserves

 

Called up share capital

1

1

Retained earnings

134,297

153,452

Shareholders' funds

 

134,298

153,453

For the financial 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.

Director's 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 director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 September 2024
 

.........................................
J Berger
Director

 

Courtland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
62 Copsem Lane
Oxshott
Surrey
KT22 0NT

These financial statements were authorised for issue by the director on 30 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current 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 countries where the company operates and generates taxable income.

Tangible assets

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

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Courtland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

20% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

 

Courtland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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 the director) during the year, was 2 (2023 - 2).

 

Courtland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

115,000

115,000

At 31 March 2024

115,000

115,000

Amortisation

At 1 April 2023

96,000

96,000

Amortisation charge

7,000

7,000

At 31 March 2024

103,000

103,000

Carrying amount

At 31 March 2024

12,000

12,000

At 31 March 2023

19,000

19,000

5

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2023

26,504

26,504

Additions

1,904

1,904

At 31 March 2024

28,408

28,408

Depreciation

At 1 April 2023

5,410

5,410

Charge for the year

7,998

7,998

At 31 March 2024

13,408

13,408

Carrying amount

At 31 March 2024

15,000

15,000

At 31 March 2023

21,094

21,094

 

Courtland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

41,150

46,675

 

41,150

46,675

7

Current asset investments

2024
£

2023
£

Other investments

10,000

10,000

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

532

96

Taxation and social security

 

6,469

7,573

Other creditors

 

606

194

 

7,607

7,863