26 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 10562647 2023-05-01 2024-04-30 10562647 2024-04-30 10562647 2023-04-30 10562647 2022-05-01 2023-04-30 10562647 2023-04-30 10562647 2022-04-30 10562647 bus:Director1 2023-05-01 2024-04-30 10562647 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 10562647 core:LandBuildings core:LongLeaseholdAssets 2023-04-30 10562647 core:PlantMachinery 2023-04-30 10562647 core:FurnitureFittingsToolsEquipment 2023-04-30 10562647 core:MotorVehicles 2023-04-30 10562647 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 10562647 core:LandBuildings core:LongLeaseholdAssets 2024-04-30 10562647 core:PlantMachinery 2024-04-30 10562647 core:FurnitureFittingsToolsEquipment 2024-04-30 10562647 core:MotorVehicles 2024-04-30 10562647 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10562647 core:LandBuildings core:LongLeaseholdAssets 2023-05-01 2024-04-30 10562647 core:PlantMachinery 2023-05-01 2024-04-30 10562647 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 10562647 core:MotorVehicles 2023-05-01 2024-04-30 10562647 core:WithinOneYear 2024-04-30 10562647 core:WithinOneYear 2023-04-30 10562647 core:AfterOneYear 2023-04-30 10562647 core:ShareCapital 2024-04-30 10562647 core:ShareCapital 2023-04-30 10562647 core:RetainedEarningsAccumulatedLosses 2024-04-30 10562647 core:RetainedEarningsAccumulatedLosses 2023-04-30 10562647 core:BetweenOneFiveYears 2024-04-30 10562647 core:BetweenOneFiveYears 2023-04-30 10562647 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 10562647 core:LandBuildings core:LongLeaseholdAssets 2023-04-30 10562647 core:PlantMachinery 2023-04-30 10562647 core:FurnitureFittingsToolsEquipment 2023-04-30 10562647 core:MotorVehicles 2023-04-30 10562647 bus:SmallEntities 2023-05-01 2024-04-30 10562647 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10562647 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 10562647 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10562647 bus:FullAccounts 2023-05-01 2024-04-30 10562647 core:FurnitureFittings 2023-05-01 2024-04-30 10562647 core:ComputerEquipment 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 10562647
COONEY SOUTH LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2024
COONEY SOUTH LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
3,839,877
3,802,748
CURRENT ASSETS
Stocks
161,488
269,371
Debtors
6
1,411,521
1,641,705
Cash at bank and in hand
177,629
114,696
------------
------------
1,750,638
2,025,772
CREDITORS: amounts falling due within one year
7
1,147,554
1,922,367
------------
------------
NET CURRENT ASSETS
603,084
103,405
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
4,442,961
3,906,153
CREDITORS: amounts falling due after more than one year
8
232,322
PROVISIONS
88,993
79,126
------------
------------
NET ASSETS
4,353,968
3,594,705
------------
------------
CAPITAL AND RESERVES
Called up share capital fully paid
2
2
Profit and loss account
4,353,966
3,594,703
------------
------------
SHAREHOLDERS FUNDS
4,353,968
3,594,705
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
COONEY SOUTH LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 28 November 2024 , and are signed on behalf of the board by:
Mr J P Cooney Director
Company registration number: 10562647
COONEY SOUTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. GENERAL INFORMATION
Cooney South Limited is a private company limited by shares, incorporated in England and Wales with registered number 10562647 . The registered office address is Cooney Marine International Limited, Telford Way Kettering, Northamptonshire, NN16 8UN.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Improvements
-
Over remaining period of the lease.
Plant and machinery
-
15% reducing balance method
Fixtures and fittings
-
15% reducing balance method
Motor vehicles
-
25% reducing balance method
Office equipment
-
15% reducing balance method
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Work in progress Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 26 (2023: 27 ).
5. TANGIBLE ASSETS
Freehold property
Long leasehold property
Plant and machinery
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 May 2023
3,534,027
5,850
378,320
25,901
52,413
3,996,511
Additions
69,768
5,374
8,673
83,815
------------
-------
---------
--------
--------
------------
At 30 Apr 2024
3,603,795
5,850
383,694
34,574
52,413
4,080,326
------------
-------
---------
--------
--------
------------
Depreciation
At 1 May 2023
3,510
147,943
12,715
29,595
193,763
Charge for the year
2,340
35,363
3,279
5,704
46,686
------------
-------
---------
--------
--------
------------
At 30 Apr 2024
5,850
183,306
15,994
35,299
240,449
------------
-------
---------
--------
--------
------------
Carrying amount
At 30 Apr 2024
3,603,795
200,388
18,580
17,114
3,839,877
------------
-------
---------
--------
--------
------------
At 30 Apr 2023
3,534,027
2,340
230,377
13,186
22,818
3,802,748
------------
-------
---------
--------
--------
------------
6. DEBTORS
2024
2023
£
£
Trade debtors
1,354,105
1,582,865
Other debtors
57,416
58,840
------------
------------
1,411,521
1,641,705
------------
------------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,103
Trade creditors
554,965
1,452,111
Corporation tax
103,642
100,289
Social security and other taxes
135,204
128,054
Other creditors
353,743
231,810
------------
------------
1,147,554
1,922,367
------------
------------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
232,322
----
---------
9. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
110,000
110,000
Later than 1 year and not later than 5 years
220,000
330,000
---------
---------
330,000
440,000
---------
---------