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Registered number: 02090943
Cuckoo Gap Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Marlow Proactive
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02090943
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 827,736 809,089
827,736 809,089
CURRENT ASSETS
Stocks 8,328 8,600
Debtors 5 159,153 236,292
Cash at bank and in hand 158,473 118,344
325,954 363,236
Creditors: Amounts Falling Due Within One Year 6 (262,353 ) (284,115 )
NET CURRENT ASSETS (LIABILITIES) 63,601 79,121
TOTAL ASSETS LESS CURRENT LIABILITIES 891,337 888,210
Creditors: Amounts Falling Due After More Than One Year 7 (79,927 ) (42,121 )
NET ASSETS 811,410 846,089
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 811,310 845,989
SHAREHOLDERS' FUNDS 811,410 846,089
Page 1
Page 2
For the year ending 29 February 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 Profit and Loss Account.
On behalf of the board
Mr Andrew Adcock
Director
14/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cuckoo Gap Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02090943 . The registered office is 14 Phoenix Park, Telford Way, Coalville, Leicestershire, LE67 3HB.
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, net of discounts and value added taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Freehold 5% straight line
Plant & Machinery 12.5% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 10% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.
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2.6. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 is recognised in repsect 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 date 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 10)
10 10
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 March 2023 103,508 1,588,646 109,243 265,442 2,066,839
Additions - 155,560 - 1,437 156,997
Disposals - (104,500 ) - - (104,500 )
As at 29 February 2024 103,508 1,639,706 109,243 266,879 2,119,336
Depreciation
As at 1 March 2023 50,652 895,714 78,370 233,014 1,257,750
Provided during the period 3,936 92,181 7,718 3,280 107,115
Disposals - (73,265 ) - - (73,265 )
As at 29 February 2024 54,588 914,630 86,088 236,294 1,291,600
Net Book Value
As at 29 February 2024 48,920 725,076 23,155 30,585 827,736
As at 1 March 2023 52,856 692,932 30,873 32,428 809,089
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 147,135 235,606
Other debtors 12,018 686
159,153 236,292
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 57,431 66,401
Trade creditors 36,245 50,568
Bank loans and overdrafts 22,000 31,778
Other creditors 130,425 109,041
Taxation and social security 16,252 26,327
262,353 284,115
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 79,927 42,121
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 57,431 66,401
Later than one year and not later than five years 79,927 42,121
137,358 108,522
137,358 108,522
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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