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REGISTERED NUMBER: 03023799 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

A COWLEY & SONS LIMITED

A COWLEY & SONS LIMITED (REGISTERED NUMBER: 03023799)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A COWLEY & SONS LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: A J Cowley
D S Cowley
N Day





SECRETARY: D S Cowley





REGISTERED OFFICE: The Office Block
Turner Wood
Thorpe Salvin
Worksop
S80 3LA





REGISTERED NUMBER: 03023799 (England and Wales)





ACCOUNTANTS: Beeley Hawley & Co. Ltd
Chartered Accountants
42-44 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BL

A COWLEY & SONS LIMITED (REGISTERED NUMBER: 03023799)

BALANCE SHEET
31 March 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 13,200 -
Tangible assets 5 445,952 353,567
Investment property 6 240,000 245,000
699,152 598,567

CURRENT ASSETS
Stocks 7 2,342,333 3,189,362
Debtors 8 2,745,469 2,908,939
Cash at bank and in hand 1,352,557 1,373,944
6,440,359 7,472,245
CREDITORS
Amounts falling due within one year 9 438,662 1,309,186
NET CURRENT ASSETS 6,001,697 6,163,059
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,700,849

6,761,626

PROVISIONS FOR LIABILITIES 88,110 53,433
NET ASSETS 6,612,739 6,708,193

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 178,616 178,616
Non distributable reserves 48,334 53,334
Retained earnings 6,384,789 6,475,243
6,612,739 6,708,193

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

A COWLEY & SONS LIMITED (REGISTERED NUMBER: 03023799)

BALANCE SHEET - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by:





A J Cowley - Director


A COWLEY & SONS LIMITED (REGISTERED NUMBER: 03023799)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

A Cowley & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 10% on reducing balance

No depreciation is provided in respect of freehold properties which are classified as investment properties. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated.
Investment properties are shown at fair value.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


A COWLEY & SONS LIMITED (REGISTERED NUMBER: 03023799)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 16,500
At 31 March 2024 16,500
AMORTISATION
Charge for year 3,300
At 31 March 2024 3,300
NET BOOK VALUE
At 31 March 2024 13,200

A COWLEY & SONS LIMITED (REGISTERED NUMBER: 03023799)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 262,766 601,895 40,176 349,410 1,254,247
Additions - 215,500 - - 215,500
At 31 March 2024 262,766 817,395 40,176 349,410 1,469,747
DEPRECIATION
At 1 April 2023 221,399 416,642 21,068 241,571 900,680
Charge for year 14,093 80,151 1,911 26,960 123,115
At 31 March 2024 235,492 496,793 22,979 268,531 1,023,795
NET BOOK VALUE
At 31 March 2024 27,274 320,602 17,197 80,879 445,952
At 31 March 2023 41,367 185,253 19,108 107,839 353,567

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 245,000
Revaluations (5,000 )
At 31 March 2024 240,000
NET BOOK VALUE
At 31 March 2024 240,000
At 31 March 2023 245,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2019 22,334
Valuation in 2022 31,000
Valuation in 2024 (5,000 )
Cost 191,666
240,000

7. STOCKS
2024 2023
as restated
£    £   
Stocks 2,342,333 3,189,362

A COWLEY & SONS LIMITED (REGISTERED NUMBER: 03023799)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 551,286 765,345
Amounts owed by group undertakings 110,172 110,172
Amounts owed by participating interests 1,859,932 1,859,932
Other debtors 170,835 129,642
Prepayments 53,244 43,848
2,745,469 2,908,939

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade creditors 138,571 191,634
Tax - 350,426
Social security and other taxes 75,083 107,505
Other creditors 2,924 1,646
Directors' current accounts 148,700 142,312
Accruals and deferred income 73,384 515,663
438,662 1,309,186

10. RELATED PARTY DISCLOSURES

At the year end the company held a balance due from A Cowley and Holdings Ltd (a participator in the parent company) of £1,859,932 (2023 : £1,859,932) and Cowley Railway Contractors Ltd (ts parent company) of £110,173 (2023 : £110,173). These loans are interest free repayable under no specific terms.