Cotswold RDA Trading Limited 13324524 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is a charity shop. Digita Accounts Production Advanced 6.30.9574.0 true true 13324524 2023-04-01 2024-03-31 13324524 2024-03-31 13324524 core:CurrentFinancialInstruments 2024-03-31 13324524 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13324524 core:FurnitureFittingsToolsEquipment 2024-03-31 13324524 bus:SmallEntities 2023-04-01 2024-03-31 13324524 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13324524 bus:FullAccounts 2023-04-01 2024-03-31 13324524 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13324524 bus:RegisteredOffice 2023-04-01 2024-03-31 13324524 bus:Director10 2023-04-01 2024-03-31 13324524 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13324524 core:ComputerEquipment 2023-04-01 2024-03-31 13324524 core:FurnitureFittings 2023-04-01 2024-03-31 13324524 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 13324524 core:OfficeEquipment 2023-04-01 2024-03-31 13324524 core:OtherRelatedParties 2023-04-01 2024-03-31 13324524 countries:EnglandWales 2023-04-01 2024-03-31 13324524 core:FurnitureFittingsToolsEquipment 2023-03-31 13324524 2022-04-01 2023-03-31 13324524 2023-03-31 13324524 core:CurrentFinancialInstruments 2023-03-31 13324524 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13324524 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 13324524

Prepared for the registrar

Cotswold RDA Trading Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Cotswold RDA Trading Limited

(Registration number: 13324524)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

7,428

10,254

Current assets

 

Stocks

1,159

1,411

Debtors

5

6,043

2,897

Cash at bank and in hand

 

36,166

24,736

 

43,368

29,044

Creditors: Amounts falling due within one year

6

(44,025)

(49,618)

Net current liabilities

 

(657)

(20,574)

Net assets/(liabilities)

 

6,771

(10,320)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

6,770

(10,321)

Shareholders' funds/(deficit)

 

6,771

(10,320)

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.

Directors' 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 directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 8 October 2024 and signed on its behalf by:
 


T C Baylis
Director

 

Cotswold RDA Trading 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 and Wales.

The address of its registered office is:
Jackie Brutton Riding School
Cotswold RDA
Cheltenham Racecourse
Cheltenham
GL50 4SH

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

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 and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

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 and fittings

25% reducing balance

Office equipment

3 years straight line

Computer equipment

5 years straight line

 

Cotswold RDA Trading Limited

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

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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

Stocks

Stocks are valued at the lower of cost and net realisable value. Cost is computed on a first in first out basis. Net realisable value is based on estimated selling price less the estimated cost of disposal.

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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Cotswold RDA Trading Limited

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

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 4).

 

4

Tangible assets

Furniture, fittings and equipment
 £

Cost

At 1 April 2023

15,853

At 31 March 2024

15,853

Depreciation

At 1 April 2023

5,599

Charge for the year

2,826

At 31 March 2024

8,425

Carrying amount

At 31 March 2024

7,428

At 31 March 2023

10,254

 

5

Debtors

2024
 £

2023
 £

Trade debtors

1,336

-

Other debtors

1,666

2,071

Prepayments

3,041

826

 

6,043

2,897

 

Cotswold RDA Trading Limited

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

 

6

Creditors

Note

2024
 £

2023
 £

Due within one year

 

Trade creditors

 

364

3,688

Amounts due to related parties

7

39,787

43,078

Social security and other taxes

 

965

289

Outstanding defined contribution pension costs

 

125

294

Other creditors

 

8

160

Accrued expenses

 

2,776

2,109

 

44,025

49,618

 

7

Related party transactions

Summary of transactions with other related parties

At 31 March 2024 the company owed £39,787 (2023: £43,078) to Cotswold Riding for the Disabled, a charity under common control. This included a loan for £30,000 on which 2% interest is paid. Interest of £600 was charged on the remaining balance.