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D & H Cosgrove Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

Registration number: 14127577

 

D & H Cosgrove Ltd

Contents

Statement of financial position

1

Statement of Changes in Equity

2

Notes to the Unaudited Financial Statements

3 to 5

 

D & H Cosgrove Ltd

(Registration number: 14127577)
Statement of financial position as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,020,000

1,020,000

Current assets

 

Debtors

5

1,411

-

Cash at bank and in hand

 

117,759

68,618

 

119,170

68,618

Creditors: Amounts falling due within one year

6

(21,227)

(20,125)

Net current assets

 

97,943

48,493

Total assets less current liabilities

 

1,117,943

1,068,493

Provisions for liabilities

(43,958)

(40,804)

Net assets

 

1,073,985

1,027,689

Capital and reserves

 

Called up share capital

7

1,020,000

1,020,000

Other reserves

170,800

173,954

Retained earnings

(116,815)

(166,265)

Shareholders' funds

 

1,073,985

1,027,689

For the financial year ending 31 May 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 Income statement.

Approved and authorised by the Board on 29 July 2024 and signed on its behalf by:
 

.........................................
Mr D J Cosgrove
Director

 

D & H Cosgrove Ltd

Statement of Changes in Equity for the Year Ended 31 May 2024

Share capital
£

Other reserves
£

Retained earnings
£

Total
£

At 1 June 2023

1,020,000

173,954

(166,265)

1,027,689

Profit for the year

-

-

46,296

46,296

Other comprehensive income

-

(3,154)

3,154

-

Total comprehensive income

-

(3,154)

49,450

46,296

At 31 May 2024

1,020,000

170,800

(116,815)

1,073,985

Share capital
£

Other reserves
£

Retained earnings
£

Total
£

Profit for the year

-

-

7,689

7,689

Other comprehensive income

-

173,954

(173,954)

-

Total comprehensive income

-

173,954

(166,265)

7,689

New share capital subscribed

2,540,000

-

-

2,540,000

Capital reduction

(1,520,000)

-

-

(1,520,000)

At 31 May 2023

1,020,000

173,954

(166,265)

1,027,689

 

D & H Cosgrove Ltd

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

1

General information

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

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the Board on 29 July 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 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.

 

D & H Cosgrove Ltd

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

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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).

4

Investment properties

2024
£

At 1 June

1,020,000

At 31 May 23

1,020,000

The property was independently valued at £1,020,000 by Grillo Chartered Surveyors on 19th May 2022

 

D & H Cosgrove Ltd

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

5

Debtors

Current

2024
£

2023
£

Prepayments

1,411

-

 

1,411

-

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

12,727

12,125

Accruals and deferred income

1,500

1,000

Other creditors

7,000

7,000

21,227

20,125

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,020,000

1,020,000

1,020,000

1,020,000