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REGISTERED NUMBER: 00794105















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Cosawes Park Ltd

Cosawes Park Ltd (Registered number: 00794105)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cosawes Park Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A R Fraser
Mrs G Fraser
Ms C Fraser
Ms L Stonehouse





REGISTERED OFFICE: The Office
Cosawes Park
Perran-Ar-Worthal
TRURO
Cornwall
TR1 2NA





REGISTERED NUMBER: 00794105





ACCOUNTANTS: Colin Truscott Accountancy Limited
9 Heron Close
Tresillian
Cornwall
TR2 4BH

Cosawes Park Ltd (Registered number: 00794105)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,325,018 1,153,500
Investment property 5 575,000 510,000
5,900,018 1,663,500

CURRENT ASSETS
Stocks 37,750 -
Debtors 6 23,606 14,816
Cash at bank and in hand 103,548 109,781
164,904 124,597
CREDITORS
Amounts falling due within one year 7 77,536 77,976
NET CURRENT ASSETS 87,368 46,621
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,987,386

1,710,121

CREDITORS
Amounts falling due after more than
one year

8

(195,196

)

(205,996

)

PROVISIONS FOR LIABILITIES (997,526 ) (37,024 )
NET ASSETS 4,794,664 1,467,101

Cosawes Park Ltd (Registered number: 00794105)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8,000 8,000
Revaluation reserve 10 - 188,672
Capital redemption reserve 1,000 1,000
Fair value reserve 10 3,709,083 233,229
Retained earnings 1,076,581 1,036,200
4,794,664 1,467,101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





Ms C Fraser - Director


Cosawes Park Ltd (Registered number: 00794105)

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

1. STATUTORY INFORMATION

Cosawes Park Ltd is a private company, limited by shares , registered in Not specified/Other. 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 as modified by the revaluation of certain assets.

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

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be readily measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates Value Added Tax and other sales taxes.

Revenue from a contract to provide services is recognised in the period which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: the amount of revenue can be measured reliably; it is probable they the company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% on cost, 20% on reducing balance and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

Cosawes Park Ltd (Registered number: 00794105)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

Cosawes Park Ltd (Registered number: 00794105)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 1,097,500 280,837 1,378,337
Additions - 2,291 2,291
Revaluations 4,187,500 - 4,187,500
At 31 March 2024 5,285,000 283,128 5,568,128
DEPRECIATION
At 1 April 2023 - 224,837 224,837
Charge for year - 18,273 18,273
At 31 March 2024 - 243,110 243,110
NET BOOK VALUE
At 31 March 2024 5,285,000 40,018 5,325,018
At 31 March 2023 1,097,500 56,000 1,153,500

Cost or valuation at 31 March 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 1999 188,673 - 188,673
Valuation in 2024 4,187,500 - 4,187,500
Cost 908,827 283,128 1,191,955
5,285,000 283,128 5,568,128

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 510,000
Revaluations 65,000
At 31 March 2024 575,000
NET BOOK VALUE
At 31 March 2024 575,000
At 31 March 2023 510,000

Cosawes Park Ltd (Registered number: 00794105)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 1999 104,137
Valuation in 2018 129,092
Valuation in 2024 65,000
Cost 276,771
575,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,293 6,038
Other debtors 17,313 8,778
23,606 14,816

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,800 10,820
Trade creditors 3,312 614
Taxation and social security 27,966 46,142
Other creditors 35,458 20,400
77,536 77,976

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 195,196 205,996

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 143,596 145,000

Cosawes Park Ltd (Registered number: 00794105)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 205,996 216,816

The mortgage is secured on the company's freehold property.

10. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 April 2023 188,672 233,229 421,901
Revaluation (188,672 ) 4,441,172 4,252,500
Deferred tax - (965,318 ) (965,318 )

At 31 March 2024 - 3,709,083 3,709,083