Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falsefalseThe principal activity of the company in the year under review was that of the rental of holiday cottages11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07575159 2023-04-01 2024-03-31 07575159 2022-04-01 2023-03-31 07575159 2024-03-31 07575159 2023-03-31 07575159 c:Director1 2023-04-01 2024-03-31 07575159 c:Director2 2023-04-01 2024-03-31 07575159 d:FurnitureFittings 2023-04-01 2024-03-31 07575159 d:FurnitureFittings 2024-03-31 07575159 d:FurnitureFittings 2023-03-31 07575159 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07575159 d:FreeholdInvestmentProperty 2024-03-31 07575159 d:FreeholdInvestmentProperty 2023-03-31 07575159 d:CurrentFinancialInstruments 2024-03-31 07575159 d:CurrentFinancialInstruments 2023-03-31 07575159 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07575159 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07575159 d:ShareCapital 2024-03-31 07575159 d:ShareCapital 2023-03-31 07575159 d:OtherMiscellaneousReserve 2024-03-31 07575159 d:OtherMiscellaneousReserve 2023-03-31 07575159 d:RetainedEarningsAccumulatedLosses 2024-03-31 07575159 d:RetainedEarningsAccumulatedLosses 2023-03-31 07575159 c:FRS102 2023-04-01 2024-03-31 07575159 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07575159 c:FullAccounts 2023-04-01 2024-03-31 07575159 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07575159 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 07575159










GOWER COUNTRY COTTAGE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024


 
GOWER COUNTRY COTTAGE LIMITED
REGISTERED NUMBER: 07575159

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
916
2,547

Investment property
 6 
900,000
900,000

  
900,916
902,547

Current assets
  

Debtors: amounts falling due within one year
 7 
1,492
1,223

Cash at bank and in hand
 8 
38,567
58,904

  
40,059
60,127

Creditors: amounts falling due within one year
 9 
(459,471)
(480,959)

Net current liabilities
  
 
 
(419,412)
 
 
(420,832)

Total assets less current liabilities
  
481,504
481,715

Provisions for liabilities
  

Deferred tax
  
(102,603)
(78,287)

  
 
 
(102,603)
 
 
(78,287)

Net assets
  
378,901
403,428


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
  
348,033
372,603

Profit and loss account
  
30,768
30,725

  
378,901
403,428


Page 1

 
GOWER COUNTRY COTTAGE LIMITED
REGISTERED NUMBER: 07575159
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Philip Martyn Jenkins
Leanne Parry-Jenkins
Director
Director
Date: 17 January 2025

Page 2

 
GOWER COUNTRY COTTAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Gower Country Cottage is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:
Registered number: 07575159
Registered office  Malvern House 37 Gowerton Road
    Three Crosses
    Swansea 
    SA4 3PY
The presentation currency of the financial statements is the Pound Sterling (£).
 
Monetary amounts in the financial statements are rounded to the nearest £.
Gower Country Cottage Limited was formally known as Enkom Limited. The change occured on April 20, 2023.


2.


Statement of Compliance

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 provision of Section 1A "Small Entities" and the Compliance Act 2006.

3.Accounting policies

 
3.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention.

Page 3

 
GOWER COUNTRY COTTAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.Accounting policies (continued)

  
3.2

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates, and asumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual result may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The following are the critical judgements that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
Valuation of investment property
Fair values of investment property are ascertained with reference to the local property market, taking into account differentiating factors.
Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement.
Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefit is considered remote. Contingent assets are only disclosed if an inflow of economic benefit is probable.

  
3.3

Turnover

Turnover represents net invoiced income from holiday lets and is recognised evenly over the period to which it relates.

 
3.4

Going concern

In preparing the financial statements, the directors have considered the current financial position of the company and have concluded that it is appropriate to prepare the financial statements on a going concern basis. In forming this conclusion, the directors have considered the company's net assets position.
The company continues to rely upon the support provided by its bankers, directors and other lenders, but the directors have not received any indication that such support will be withdrawn and the company continues to meet its loan commitments and satisfy loan covenants.
After making enquiries, the directors have a responsible expectation that the company has adequate resources to continue in operational existence for the foreseeable future and to meet its financial obligations as they fall due. Accordingly, the director continues to adopt the going concern basis in preparing the annual report and accounts.

Page 4

 
GOWER COUNTRY COTTAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.Accounting policies (continued)

 
3.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
3.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
3.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
GOWER COUNTRY COTTAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.Accounting policies (continued)


3.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
3.8

Financial instruments

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
GOWER COUNTRY COTTAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2023
32,434



At 31 March 2024

32,434



Depreciation


At 1 April 2023
29,887


Charge for the year on owned assets
1,631



At 31 March 2024

31,518



Net book value



At 31 March 2024
916



At 31 March 2023
2,547

Page 7

 
GOWER COUNTRY COTTAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
900,000



At 31 March 2024
900,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.

If investment properties had not been revalued and were stated on a historical cost basis, they would have been included at a cost of £449,593 (2023 - £449,593).




Page 8

 
GOWER COUNTRY COTTAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£


Other debtors
330
330

Prepayments and accrued income
1,162
893

1,492
1,223



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
38,567
58,904

38,567
58,904



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
480
-

Corporation tax
2,716
3,592

Other creditors
453,456
474,653

Accruals and deferred income
2,819
2,714

459,471
480,959



10.


Related Party Disclosures

Monies due to the directors at the end of the period amounted to £453,456 (2023 - £474,653) and is shown in other creditors.
The balances are interest-free and repayable on demand.

 
Page 9