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REGISTERED NUMBER: 07323980 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

COTSWOLD COMBINES LTD

COTSWOLD COMBINES LTD (REGISTERED NUMBER: 07323980)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


COTSWOLD COMBINES LTD

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: A W Slatter





REGISTERED OFFICE: Harolds Farm
Compton Scorpion
Ilmington
Shipston-on-Stour
Warwickshire
CV36 4PJ





REGISTERED NUMBER: 07323980 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Payton House
Guild Street
Stratford-upon-Avon
Warwickshire
CV37 6RP

COTSWOLD COMBINES LTD (REGISTERED NUMBER: 07323980)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,167 3,667
Tangible assets 5 323,145 377,488
326,312 381,155

CURRENT ASSETS
Stocks 34,000 33,800
Debtors 6 19,397 52,810
Prepayments and accrued income 6,738 5,881
Cash at bank 125,413 81,464
185,548 173,955
CREDITORS
Amounts falling due within one year 7 29,236 46,266
NET CURRENT ASSETS 156,312 127,689
TOTAL ASSETS LESS CURRENT
LIABILITIES

482,624

508,844

PROVISIONS FOR LIABILITIES 49,761 59,343
NET ASSETS 432,863 449,501

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 432,862 449,500
432,863 449,501

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 director acknowledges his 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.

COTSWOLD COMBINES LTD (REGISTERED NUMBER: 07323980)

STATEMENT OF FINANCIAL POSITION - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2024 and were signed by:





A W Slatter - Director


COTSWOLD COMBINES LTD (REGISTERED NUMBER: 07323980)

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


1. STATUTORY INFORMATION

Cotswold Combines Ltd 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

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 Statement of Income and Retained Earnings, 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 statement of financial position date.


COTSWOLD COMBINES LTD (REGISTERED NUMBER: 07323980)

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 statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 10,000
AMORTISATION
At 1 April 2023 6,333
Charge for year 500
At 31 March 2024 6,833
NET BOOK VALUE
At 31 March 2024 3,167
At 31 March 2023 3,667

COTSWOLD COMBINES LTD (REGISTERED NUMBER: 07323980)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 540,837
Additions 6,950
Disposals (14,044 )
At 31 March 2024 533,743
DEPRECIATION
At 1 April 2023 163,349
Charge for year 50,561
Eliminated on disposal (3,312 )
At 31 March 2024 210,598
NET BOOK VALUE
At 31 March 2024 323,145
At 31 March 2023 377,488

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 393 9,147
Other debtors 19,004 43,663
19,397 52,810

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 11,532 2,123
Taxation and social security 15,452 36,022
Other creditors 2,252 8,121
29,236 46,266

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, the director's current account remained overdrawn. The balance at the year end was £11,273 (2023:£37,691), and the maximum balance outstanding during the year was £37,691.

9. CONTROLLING PARTY

The controlling party is A W Slatter.