Cygnet Cottage Properties Limited 13127100 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is property rental. Digita Accounts Production Advanced 6.30.9574.0 true true 13127100 2023-08-01 2024-07-31 13127100 2024-07-31 13127100 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-07-31 13127100 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 13127100 core:OtherPropertyPlantEquipment 2024-07-31 13127100 bus:SmallEntities 2023-08-01 2024-07-31 13127100 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 13127100 bus:FilletedAccounts 2023-08-01 2024-07-31 13127100 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 13127100 bus:RegisteredOffice 2023-08-01 2024-07-31 13127100 bus:CompanySecretaryDirector1 2023-08-01 2024-07-31 13127100 bus:Director2 2023-08-01 2024-07-31 13127100 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-08-01 2024-07-31 13127100 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 13127100 core:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 13127100 core:PlantMachinery 2023-08-01 2024-07-31 13127100 core:OtherRelatedParties 2023-08-01 2024-07-31 13127100 countries:EnglandWales 2023-08-01 2024-07-31 13127100 2023-07-31 13127100 core:OtherPropertyPlantEquipment 2023-07-31 13127100 2022-08-01 2023-07-31 13127100 2023-07-31 13127100 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-07-31 13127100 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 13127100 core:OtherPropertyPlantEquipment 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13127100

Cygnet Cottage Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Cygnet Cottage Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Cygnet Cottage Properties Limited

Company Information

Directors

Dr A McDonnell

Ms J L McCahill

Company secretary

Dr A McDonnell

Registered office

Cygnet Cottage
30 Brook Street
Watlington
Oxon
OX49 5JH

Accountants

RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

 

Cygnet Cottage Properties Limited

(Registration number: 13127100)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

308

432

Investment property

5

315,045

315,045

 

315,353

315,477

Current assets

 

Cash at bank and in hand

 

1,441

29

Creditors: Amounts falling due within one year

6

(304,437)

(310,777)

Net current liabilities

 

(302,996)

(310,748)

Net assets

 

12,357

4,729

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

12,355

4,727

Shareholders' funds

 

12,357

4,729

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 December 2024 and signed on its behalf by:
 

.........................................
Dr A McDonnell
Company secretary and director

 

Cygnet Cottage Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cygnet Cottage
30 Brook Street
Watlington
Oxon
OX49 5JH

These financial statements were authorised for issue by the Board on 2 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Cygnet Cottage Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Cygnet Cottage Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

618

618

At 31 July 2024

618

618

Depreciation

At 1 August 2023

186

186

Charge for the year

124

124

At 31 July 2024

310

310

Carrying amount

At 31 July 2024

308

308

At 31 July 2023

432

432

 

Cygnet Cottage Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

5

Investment properties

2024
£

At 1 August

315,045

At 31 July

315,045

The investment property has been valued on the open market basis by the directors at the year end.

There has been no valuation of investment property by an independent valuer.

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

272,300

271,800

Taxation and social security

 

818

-

Accruals and deferred income

 

696

654

Other creditors

 

30,623

38,323

 

304,437

310,777

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       
 

Cygnet Cottage Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Related party transactions

Summary of transactions with other related parties

A Director of the company
 
At the year, an amount of £272,300 (2023: £271,800) was owed to Andrew D McDonnell Limited.