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Registration number: 08351793

County Cobbler Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

County Cobbler Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

County Cobbler Ltd

Company Information

Director

Mrs T Packham

Company secretary

Mrs T Packham

Registered office

Basepoint
C/o Steer Accountancy
Shearway Business Park
Folkestone
CT19 4RH

 

County Cobbler Ltd

(Registration number: 08351793)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

464

Current assets

 

Stocks

5

-

5,000

Debtors

6

21,976

17,755

Cash at bank and in hand

 

186,245

110,098

 

208,221

132,853

Creditors: Amounts falling due within one year

7

(22,574)

(8,661)

Net current assets

 

185,647

124,192

Total assets less current liabilities

 

185,647

124,656

Provisions for liabilities

-

(88)

Net assets

 

185,647

124,568

Capital and reserves

 

Called up share capital

100

100

Retained earnings

185,547

124,468

Shareholders' funds

 

185,647

124,568

For the financial year ending 31 January 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 her 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 21 October 2024
 

.........................................
Mrs T Packham
Company secretary and director

   
     
 

County Cobbler Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 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:
Basepoint
C/o Steer Accountancy
Shearway Business Park
Folkestone
CT19 4RH
England

The principal place of business is:
Ombersley North Pole Road
Barming
Maidstone
Kent
ME16 9HH

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.

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.

 

County Cobbler Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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

Plant and Machinery

5 years straight line

Fixtures and Fittings

20% on reducing balance

Office Equipment

5 years straight line

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.

 

County Cobbler Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

 

County Cobbler Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 3).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 February 2023

1,316

8,422

1,874

11,612

Additions

-

2,750

-

2,750

Disposals

(1,316)

(11,172)

(1,874)

(14,362)

At 31 January 2024

-

-

-

-

Depreciation

At 1 February 2023

1,175

8,422

1,551

11,148

Charge for the year

23

458

98

579

Eliminated on disposal

(1,198)

(8,880)

(1,649)

(11,727)

At 31 January 2024

-

-

-

-

Carrying amount

At 31 January 2024

-

-

-

-

At 31 January 2023

141

-

323

464

5

Stocks

2024
£

2023
£

Raw materials and consumables

-

5,000

 

County Cobbler Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

2,545

Prepayments

-

1,702

Other debtors

21,976

13,508

 

21,976

17,755

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

27

136

Trade creditors

 

2,896

4,623

Taxation and social security

 

18,141

2,005

Accruals and deferred income

 

800

1,085

Other creditors

 

710

812

 

22,574

8,661

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Directors current account

27

136

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £43.00 (2023 - £22.50) per each Ordinary

4,300

2,250

 

 
 

County Cobbler Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

10

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

22,700

20,750

Contributions paid to money purchase schemes

5,900

14,150

28,600

34,900