Company No:
Contents
Note | 31.05.2024 | 31.12.2023 | ||
£ | £ | |||
Current assets | ||||
Debtors | 3 |
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Cash at bank and in hand |
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13,493 | 13,493 | |||
Net current assets | 13,493 | 13,493 | ||
Total assets less current liabilities | 13,493 | 13,493 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Share premium account |
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Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Cotton & Son Limited (registered number:
C J Wakely
Director |
S Wakely
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.
Cotton & Son Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 91 East Street, Bridport, DT6 3LB, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The accounting reference date for Cotton & Son Limited was altered to 31 May in order to bring this in line with that of its parent company. This has resulted in a 5 month accounting period.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Period from 01.01.2024 to 31.05.2024 |
Year ended 31.12.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the period, including directors |
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31.05.2024 | 31.12.2023 | ||
£ | £ | ||
Amounts owed by Parent undertakings |
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These financial statements are available upon request from Companies House, Cardiff.