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Registered number: 06956819
Cotswold Mechanical Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Robert Powell
Chartered Accountants
Suite 12 Westgate House
Westgate Retail Park
Gloucester
GL1 2RU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06956819
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 66,559 99,835
66,559 99,835
CURRENT ASSETS
Stocks 5 92,064 71,001
Debtors 6 80,840 136,510
Cash at bank and in hand 122,112 74,035
295,016 281,546
Creditors: Amounts Falling Due Within One Year 7 (282,638 ) (230,611 )
NET CURRENT ASSETS (LIABILITIES) 12,378 50,935
TOTAL ASSETS LESS CURRENT LIABILITIES 78,937 150,770
Creditors: Amounts Falling Due After More Than One Year 8 (30,000 ) (50,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,527 ) (5,527 )
NET ASSETS 43,410 95,243
CAPITAL AND RESERVES
Called up share capital 9 1,003 1,003
Profit and Loss Account 42,407 94,240
SHAREHOLDERS' FUNDS 43,410 95,243
Page 1
Page 2
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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Timothy Haylett
Director
27 January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cotswold Mechanical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06956819 . The registered office is C/o Robert Powell Accountants,, Suite 12, Westgate House, Westgate Retail Park, Gloucester, GL1 2RU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance basis
Motor Vehicles 25% reducing balance basis
Computer Equipment 25% reducing balance basis
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 12)
10 12
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 49,213 333,709 20,511 403,433
As at 30 April 2024 49,213 333,709 20,511 403,433
Depreciation
As at 1 May 2023 44,418 238,669 20,511 303,598
Provided during the period 1,597 31,679 - 33,276
As at 30 April 2024 46,015 270,348 20,511 336,874
...CONTINUED
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Page 4
Net Book Value
As at 30 April 2024 3,198 63,361 - 66,559
As at 1 May 2023 4,795 95,040 - 99,835
5. Stocks
2024 2023
£ £
Finished goods 101,869 119,806
Work in progress 10,000 20,000
Long term contracts 2,995 2,995
Payments on account (22,800 ) (71,800 )
92,064 71,001
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 51,696 104,543
Prepayments and accrued income (826 ) 1,997
Other debtors 29,970 29,970
80,840 136,510
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 75,218 107,589
Bank loans and overdrafts 69,566 17,457
Corporation tax - (4,650 )
Other taxes and social security 5,622 5,622
VAT 26,543 37,987
Credit card accounts 3,779 10,426
Director's loan account 101,910 56,180
282,638 230,611
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 30,000 50,000
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,003 1,003
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