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Registered number: 08465313
Cow Close Farm Limited
Financial Statements
For The Year Ended 31 March 2024
Lennards
The Vicarage, 31 Great King Street
Macclesfield
Cheshire
SK11 6PL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08465313
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,244 2,244
Tangible Assets 5 154,777 153,325
157,021 155,569
CURRENT ASSETS
Debtors 6 615 2,711
Cash at bank and in hand 12,190 5,180
12,805 7,891
Creditors: Amounts Falling Due Within One Year 7 (310,254 ) (296,846 )
NET CURRENT ASSETS (LIABILITIES) (297,449 ) (288,955 )
TOTAL ASSETS LESS CURRENT LIABILITIES (140,428 ) (133,386 )
NET LIABILITIES (140,428 ) (133,386 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (140,528 ) (133,486 )
SHAREHOLDERS' FUNDS (140,428) (133,386)
Page 1
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For the 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.
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 James Summerlin
Director
25/10/2024
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
Cow Close Farm Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08465313 . The registered office is 31 Great King Street, Macclesfield, SK11 6PL.
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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. 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:
Leasehold 2% per annum of cost
Plant & Machinery 20% per annum of cost
Motor Vehicles 20% per annum of cost
Fixtures & Fittings 20% per annum of cost
Computer Equipment 20% per annum of cost
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2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 4 4
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 7,069
As at 31 March 2024 7,069
Amortisation
As at 1 April 2023 4,825
As at 31 March 2024 4,825
Net Book Value
As at 31 March 2024 2,244
As at 1 April 2023 2,244
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2023 176,410 83,926 18,800 1,905 281,041
Additions - 5,050 - 1,182 6,232
As at 31 March 2024 176,410 88,976 18,800 3,087 287,273
Depreciation
As at 1 April 2023 23,086 83,925 18,800 1,905 127,716
Provided during the period 3,534 1,010 - 236 4,780
As at 31 March 2024 26,620 84,935 18,800 2,141 132,496
Net Book Value
As at 31 March 2024 149,790 4,041 - 946 154,777
As at 1 April 2023 153,324 1 - - 153,325
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 1,027
VAT 615 1,684
615 2,711
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1,982
Accruals and deferred income 950 1,800
Directors' loan accounts 297,296 281,056
Amounts owed to group undertakings 12,008 12,008
310,254 296,846
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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