REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st May 2024 |
for |
Cobury Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st May 2024 |
for |
Cobury Limited |
Cobury Limited (Registered number: 00798045) |
Contents of the Financial Statements |
for the Year Ended 31st May 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
Cobury Limited (Registered number: 00798045) |
Balance Sheet |
31st May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Investment Property reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Profit & Loss account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Cobury Limited (Registered number: 00798045) |
Notes to the Financial Statements |
for the Year Ended 31st May 2024 |
1. | STATUTORY INFORMATION |
Cobury Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
Turnover |
Turnover represents the total invoice value, excluding value added tax, of rent due during the year. |
Tangible fixed assets |
Improvements to property | - |
Fixtures and fittings | - |
Motor vehicles | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss account, 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 |
Deferred tax is recognised in respect 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 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Cobury Limited (Registered number: 00798045) |
Notes to the Financial Statements - continued |
for the Year Ended 31st May 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st June 2023 |
and 31st May 2024 |
DEPRECIATION |
At 1st June 2023 |
Charge for year |
At 31st May 2024 |
NET BOOK VALUE |
At 31st May 2024 |
At 31st May 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st June 2023 |
and 31st May 2024 |
NET BOOK VALUE |
At 31st May 2024 |
At 31st May 2023 |
Fair value at 31st May 2024 is represented by: |
£ |
Valuation in 2009 | 356,085 |
Valuation in 2010 | (115,000 | ) |
Valuation in 2011 | 50,000 |
Valuation in 2015 | 200,000 |
Valuation in 2017 | 50,000 |
Valuation in 2021 | 300,000 |
Cost | 108,915 |
950,000 |
The Investment property was valued on a open market basis on 31st May 2024 by the directors . |
Cobury Limited (Registered number: 00798045) |
Notes to the Financial Statements - continued |
for the Year Ended 31st May 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to parent company |
Taxation and social security |
Other creditors |
8. | RESERVES |
Investment |
Property |
reserve |
£ |
At 1st June 2023 |
and 31st May 2024 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | OTHER FINANCIAL COMMITMENTS |
As at 31 May 2024 the company had annual commitments under non-cancellable operating leases, totalling £1,727,550 (2023: £1,630,160) |
Cobury Limited (Registered number: 00798045) |
Notes to the Financial Statements - continued |
for the Year Ended 31st May 2024 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the year ended 31 May 2024 and the year ended 31 May 2023: |
Director A | 2024 | 2023 |
£ | £ |
Amounts Advanced | 317,893 | 281,989 |
Amounts Repaid | (509,882 | ) | (90,000 | ) |
Director B | 2024 | 2023 |
£ | £ |
Amounts Advanced | 327,893 | 396,649 |
Amounts Repaid | (519,901 | ) | (204,642 | ) |
The loan to the director is repayable on demand. Interest is charged on loans at the official rate set by HMRC. |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate parent company is Robert Gibbs (Contracting) Company Limited, a company incorporated in Great Britain. |
The registered office is Bridge Works, Normandy Way, Off Pindar Road, Hoddesdon, EN11 0EW. |
13. | PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS |
Cobury Limited is part of the group whose ultimate parent is Robert Gibbs (Contracting) Company Limited. |
Group accounts are drawn up for that group only. Group accounts can be obtained from Companies House. |