Cottingburn Limited 08465845 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Property development Digita Accounts Production Advanced 6.30.9574.0 true 08465845 2023-04-01 2024-03-31 08465845 2024-03-31 08465845 core:RetainedEarningsAccumulatedLosses 2024-03-31 08465845 core:ShareCapital 2024-03-31 08465845 core:CurrentFinancialInstruments 2024-03-31 08465845 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08465845 core:Non-currentFinancialInstruments 2024-03-31 08465845 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 08465845 core:ConstructionInProgressAssetsUnderConstruction 2024-03-31 08465845 core:FurnitureFittings 2024-03-31 08465845 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 08465845 bus:SmallEntities 2023-04-01 2024-03-31 08465845 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08465845 bus:FullAccounts 2023-04-01 2024-03-31 08465845 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08465845 bus:RegisteredOffice 2023-04-01 2024-03-31 08465845 bus:Director1 2023-04-01 2024-03-31 08465845 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08465845 bus:Agent1 2023-04-01 2024-03-31 08465845 core:ConstructionInProgressAssetsUnderConstruction 2023-04-01 2024-03-31 08465845 core:FurnitureFittings 2023-04-01 2024-03-31 08465845 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08465845 countries:AllCountries 2023-04-01 2024-03-31 08465845 2023-03-31 08465845 core:ConstructionInProgressAssetsUnderConstruction 2023-03-31 08465845 core:FurnitureFittings 2023-03-31 08465845 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 08465845 2022-04-01 2023-03-31 08465845 2023-03-31 08465845 core:RetainedEarningsAccumulatedLosses 2023-03-31 08465845 core:ShareCapital 2023-03-31 08465845 core:CurrentFinancialInstruments 2023-03-31 08465845 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08465845 core:Non-currentFinancialInstruments 2023-03-31 08465845 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 08465845 core:ConstructionInProgressAssetsUnderConstruction 2023-03-31 08465845 core:FurnitureFittings 2023-03-31 08465845 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 08465845

Cottingburn Limited

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Cottingburn Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 6

 

Cottingburn Limited

Company Information

Director

I.W. Rutherford

Registered office

The Bungalow
23 A Kings Avenue
Morpeth
Northumberland, United Kingdom
Northumberland
NE61 1HX

Bankers

HSBC
1 New Market
Morpeth
Northumberland
NE61 1PX

 

Cottingburn Limited

(Registration number: 08465845)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

923,623

 

859,624

Current assets

   

 

Cash at bank and in hand

 

14,831

 

2,467

 

Creditors: Amounts falling due within one year

5

(868,086)

 

(843,718)

 

Net current liabilities

   

(853,255)

 

(841,251)

Total assets less current liabilities

   

70,368

 

18,373

Creditors: Amounts falling due after more than one year

5

 

(36,982)

 

(40,449)

Net assets/(liabilities)

   

33,386

 

(22,076)

Capital and reserves

   

 

Called up share capital

1,000

 

1,000

 

Profit and loss account

32,386

 

(23,076)

 

Total equity

   

33,386

 

(22,076)

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.

Director's 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; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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 directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised for issue by the director on 2 November 2024
 

.........................................
I.W. Rutherford
Director

 

Cottingburn 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 & Wales.

The address of its registered office is The Bungalow, 23 A Kings Avenue, Morpeth, Northumberland, United Kingdom, Northumberland, NE61 1HX.

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.

These financial statements are prepared in sterling which is the functional currency of the entity.

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 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.

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:

 

Cottingburn Limited

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

2

Accounting policies (continued)

 

Asset class

Depreciation method and rate

 

Fixtures and fittings

25% 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 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 income statement 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

Cottingburn Limited

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

4

Tangible assets

Land and buildings
£

Properties under construction
 £

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2023

398,201

409,441

51,982

859,624

Additions

-

75,269

2,301

77,570

Transfers

484,710

(484,710)

-

-

At 31 March 2024

882,911

-

54,283

937,194

Depreciation

Charge for the year

-

-

13,571

13,571

At 31 March 2024

-

-

13,571

13,571

Carrying amount

At 31 March 2024

882,911

-

40,712

923,623

At 31 March 2023

398,201

409,441

51,982

859,624

Included within the net book value of land and buildings above is £882,911 (2023 - £398,201) in respect of freehold land and buildings.
 

 

Cottingburn Limited

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

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

6

5,916

5,850

Trade creditors

 

90

867

Accruals and deferred income

 

1,879

1,800

Other creditors

 

188,000

100,000

Directors loan accounts

 

672,201

735,201

 

868,086

843,718

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

36,982

40,449

6

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

5,916

5,850

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

36,982

40,449