Derek Cookson & Son Limited 04650212 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is joinery installation Digita Accounts Production Advanced 6.30.9574.0 true 04650212 2023-05-01 2024-04-30 04650212 2024-04-30 04650212 core:CurrentFinancialInstruments 2024-04-30 04650212 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 04650212 core:Non-currentFinancialInstruments 2024-04-30 04650212 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 04650212 core:FurnitureFittings 2024-04-30 04650212 core:MotorVehicles 2024-04-30 04650212 core:OfficeEquipment 2024-04-30 04650212 core:PlantMachinery 2024-04-30 04650212 bus:SmallEntities 2023-05-01 2024-04-30 04650212 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 04650212 bus:FilletedAccounts 2023-05-01 2024-04-30 04650212 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 04650212 bus:RegisteredOffice 2023-05-01 2024-04-30 04650212 bus:Director1 2023-05-01 2024-04-30 04650212 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04650212 core:ComputerEquipment 2023-05-01 2024-04-30 04650212 core:FurnitureFittings 2023-05-01 2024-04-30 04650212 core:MotorCars 2023-05-01 2024-04-30 04650212 core:MotorVehicles 2023-05-01 2024-04-30 04650212 core:OfficeEquipment 2023-05-01 2024-04-30 04650212 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 04650212 core:PlantMachinery 2023-05-01 2024-04-30 04650212 countries:EnglandWales 2023-05-01 2024-04-30 04650212 2023-04-30 04650212 core:FurnitureFittings 2023-04-30 04650212 core:MotorVehicles 2023-04-30 04650212 core:OfficeEquipment 2023-04-30 04650212 core:PlantMachinery 2023-04-30 04650212 2022-05-01 2023-04-30 04650212 2023-04-30 04650212 core:CurrentFinancialInstruments 2023-04-30 04650212 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 04650212 core:Non-currentFinancialInstruments 2023-04-30 04650212 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 04650212 core:FurnitureFittings 2023-04-30 04650212 core:MotorVehicles 2023-04-30 04650212 core:OfficeEquipment 2023-04-30 04650212 core:PlantMachinery 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 04650212

Derek Cookson & Son Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Derek Cookson & Son Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Derek Cookson & Son Limited

Company Information

Director

Mr M D Cookson

Registered office

21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

Accountants

Rotherham Taylor Limited
Chartered Accountants
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

 

Derek Cookson & Son Limited

(Registration number: 04650212)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,944

12,783

Current assets

 

Stocks

5

3,000

3,000

Debtors

6

10,586

6,184

Cash at bank and in hand

 

9,831

40,183

 

23,417

49,367

Creditors: Amounts falling due within one year

7

(23,333)

(46,641)

Net current assets

 

84

2,726

Total assets less current liabilities

 

7,028

15,509

Creditors: Amounts falling due after more than one year

7

(4,674)

(7,490)

Provisions for liabilities

(1,322)

(2,429)

Net assets

 

1,032

5,590

Capital and reserves

 

Called up share capital

100

100

Retained earnings

932

5,490

Shareholders' funds

 

1,032

5,590

For the financial 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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 January 2025
 

 

Derek Cookson & Son Limited

(Registration number: 04650212)
Balance Sheet as at 30 April 2024

.........................................
Mr M D Cookson
Director

   
     
 

Derek Cookson & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of joinery 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.

 

Derek Cookson & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Government grants

Grants are recognised in income on a systematic basis over the period in which the entity recognises the related costs in which the grant is intended to compensate.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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

Fixtures and fittings

25% reducing balance

Plant and machinery

25% reducing balance

Office equipment

33% straight line

Motor vehicles

20% straight line

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.

Debtors

Trade debtors are amounts due from customers for materials sold and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Derek Cookson & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Derek Cookson & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3

Staff numbers

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

 

Derek Cookson & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

253

3,959

746

26,296

31,254

Disposals

-

(132)

-

-

(132)

At 30 April 2024

253

3,827

746

26,296

31,122

Depreciation

At 1 May 2023

252

1,695

746

15,778

18,471

Charge for the year

-

562

-

5,259

5,821

Eliminated on disposal

-

(114)

-

-

(114)

At 30 April 2024

252

2,143

746

21,037

24,178

Carrying amount

At 30 April 2024

1

1,684

-

5,259

6,944

At 30 April 2023

1

2,264

-

10,518

12,783

 

Derek Cookson & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Stocks

2024
£

2023
£

Stock

3,000

3,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

6,397

-

Prepayments

1,914

1,738

Other debtors

2,275

4,446

 

10,586

6,184

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

5,997

14,642

Trade creditors

 

6,169

16,775

Taxation and social security

 

4,441

6,408

Other creditors

 

6,726

8,816

 

23,333

46,641

Due after one year

 

Loans and borrowings

8

4,674

7,490

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

4,674

7,490

 

Derek Cookson & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

4,674

7,490

2024
£

2023
£

Current loans and borrowings

Bank borrowings

3,043

3,195

Director's current account

2,954

11,447

5,997

14,642

The director's current account is non interest bearing and has no formal repayment terms.