2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 8,780 5,990 1,700 13,070 xbrli:pure xbrli:shares iso4217:GBP 08848607 2023-02-01 2024-01-31 08848607 2024-01-31 08848607 2023-01-31 08848607 2022-02-01 2023-01-31 08848607 2023-01-31 08848607 2022-01-31 08848607 core:PlantMachinery 2023-02-01 2024-01-31 08848607 core:MotorVehicles 2023-02-01 2024-01-31 08848607 bus:Director1 2023-02-01 2024-01-31 08848607 core:WithinOneYear 2024-01-31 08848607 core:WithinOneYear 2023-01-31 08848607 core:MotorVehicles 2023-01-31 08848607 core:PlantMachinery 2024-01-31 08848607 core:MotorVehicles 2024-01-31 08848607 core:DeferredTaxation 2023-02-01 2024-01-31 08848607 core:AfterOneYear 2024-01-31 08848607 core:AfterOneYear 2023-01-31 08848607 core:ShareCapital 2024-01-31 08848607 core:ShareCapital 2023-01-31 08848607 core:RetainedEarningsAccumulatedLosses 2024-01-31 08848607 core:RetainedEarningsAccumulatedLosses 2023-01-31 08848607 core:MotorVehicles 2023-01-31 08848607 core:DeferredTaxation 2023-01-31 08848607 core:DeferredTaxation 2024-01-31 08848607 bus:SmallEntities 2023-02-01 2024-01-31 08848607 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 08848607 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 08848607 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08848607 bus:FullAccounts 2023-02-01 2024-01-31 08848607 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 08848607 core:FurnitureFittingsToolsEquipment 2023-01-31 08848607 core:FurnitureFittingsToolsEquipment 2024-01-31
COMPANY REGISTRATION NUMBER: 08848607
COW TALK LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 January 2024
COW TALK LTD
STATEMENT OF FINANCIAL POSITION
31 January 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
77,739
46,203
CURRENT ASSETS
Stocks
7,765
2,880
Debtors
6
5,800
8,814
Cash at bank and in hand
28,324
83,211
---------
---------
41,889
94,905
CREDITORS: amounts falling due within one year
7
12,986
13,297
---------
---------
NET CURRENT ASSETS
28,903
81,608
-----------
-----------
TOTAL ASSETS LESS CURRENT LIABILITIES
106,642
127,811
CREDITORS: amounts falling due after more than one year
8
21,667
31,667
PROVISIONS
9
13,070
8,780
-----------
-----------
NET ASSETS
71,905
87,364
-----------
-----------
COW TALK LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2024
2024
2023
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
10
10
Profit and loss account
71,895
87,354
---------
---------
SHAREHOLDERS FUNDS
71,905
87,364
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 October 2024 , and are signed on behalf of the board by:
Mr R Cockroft
Director
Company registration number: 08848607
COW TALK LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Current and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
33% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants receivable relating to Covid-19 are accounted for under the accrual method and recognised immediately as income in the Statement of Income and Retained Earnings. Where applied for and received these grants include payments under the Coronavirus Job Retention Scheme (furlough payments), Small Business Grant and interest paid by the Government during the first 12 months of Bounce Bank Loans. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. TANGIBLE ASSETS
Plant and machinery
Motor vehicles
Office equipment
Total
£
£
£
£
Cost
At 1 February 2023
53,373
1,848
55,221
Additions
43,500
43,500
---------
---------
--------
---------
At 31 January 2024
43,500
53,373
1,848
98,721
---------
---------
--------
---------
Depreciation
At 1 February 2023
7,936
1,082
9,018
Charge for the year
350
11,359
255
11,964
---------
---------
--------
---------
At 31 January 2024
350
19,295
1,337
20,982
---------
---------
--------
---------
Carrying amount
At 31 January 2024
43,150
34,078
511
77,739
---------
---------
--------
---------
At 31 January 2023
45,437
766
46,203
---------
---------
--------
---------
6. DEBTORS
2024
2023
£
£
Trade debtors
4,800
5,000
Prepayments and accrued income
1,000
Corporation tax repayable
3,814
--------
--------
5,800
8,814
--------
--------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Accruals and deferred income
870
525
Social security and other taxes
1,919
2,427
Director loan accounts
197
345
---------
---------
12,986
13,297
---------
---------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
21,667
31,667
---------
---------
9. PROVISIONS
Deferred tax (note 10)
£
At 1 February 2023
8,780
Additions
5,990
Charge against provision
( 1,700)
---------
At 31 January 2024
13,070
---------
10. DEFERRED TAX
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions (note 9)
13,070
8,780
---------
--------
11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The directors loan account was in credit throughout the year. The loan is repayable on demand and no interest is charged.