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The Cotswold Cheese Company Limited
Financial Statements
For The Year Ended 31 July 2024
Financial Statements
Contents
Page
Accountants' Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—5
Page 1
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of The Cotswold Cheese Company Limited For The Year Ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Cotswold Cheese Company Limited For The Year Ended 31 July 2024 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 to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of The Cotswold Cheese Company Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Cotswold Cheese Company Limited and state those matters that we have agreed to state to the directors of The Cotswold Cheese Company Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Cotswold Cheese Company Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that The Cotswold Cheese Company 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 The Cotswold Cheese Company Limited . You consider that The Cotswold Cheese Company Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of The Cotswold Cheese Company 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
2 October 2024
Cooper Adams Ltd
Chartered Accountants
12 Payton Street
Stratford upon Avon
Warwickshire
CV37 6UA
Page 1
Page 2
Statement of Financial Position
Registered number: 07305378
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 48,639 60,799
Tangible assets 5 49,781 46,713
98,420 107,512
CURRENT ASSETS
Stocks 19,369 22,765
Debtors 13,063 11,368
Cash at bank and in hand 92,960 90,161
125,392 124,294
Creditors: Amounts Falling Due Within One Year (100,531 ) (96,444 )
NET CURRENT ASSETS (LIABILITIES) 24,861 27,850
TOTAL ASSETS LESS CURRENT LIABILITIES 123,281 135,362
NET ASSETS 123,281 135,362
CAPITAL AND RESERVES
Called up share capital 6 2 2
Income Statement 123,279 135,360
SHAREHOLDERS' FUNDS 123,281 135,362
Page 2
Page 3
For the year ending 31 July 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.
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
Mr Jonathan Goodchild
Director
2 October 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
The Cotswold Cheese Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07305378 . The registered office is 5 High Street, Moreton in Marsh, GL56 0AH.
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, excluding discounts, rebates, value added tax and other sales tax.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Motor vehicles 25% on reducing balance
Fixtures & fittings 25% on reducing balance
Computer equipment Straight line over 3 years
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2023: 15)
21 15
4. Intangible assets
Goodwill
£
Cost
As at 1 August 2023 129,999
As at 31 July 2024 129,999
Amortisation
As at 1 August 2023 69,200
Provided during the period 12,160
As at 31 July 2024 81,360
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 July 2024 48,639
As at 1 August 2023 60,799
5. Tangible assets
Land & Property
Leasehold Motor vehicles Fixtures & fittings Computer equipment Total
£ £ £ £ £
Cost
As at 1 August 2023 1 27,407 87,147 22,651 137,206
Additions - 10,500 922 16,138 27,560
As at 31 July 2024 1 37,907 88,069 38,789 164,766
Depreciation
As at 1 August 2023 - 7,645 69,514 13,334 90,493
Provided during the period - 7,566 6,404 10,522 24,492
As at 31 July 2024 - 15,211 75,918 23,856 114,985
Net Book Value
As at 31 July 2024 1 22,696 12,151 14,933 49,781
As at 1 August 2023 1 19,762 17,633 9,317 46,713
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 5