Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31falsetruetrue2023-06-01No description of principal activity32The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC031560 2023-06-01 2024-05-31 SC031560 2022-05-31 2023-05-31 SC031560 2024-05-31 SC031560 2023-05-31 SC031560 c:Director1 2023-06-01 2024-05-31 SC031560 c:Director2 2023-06-01 2024-05-31 SC031560 c:Director3 2023-06-01 2024-05-31 SC031560 c:Director3 2024-05-31 SC031560 c:RegisteredOffice 2023-06-01 2024-05-31 SC031560 d:Buildings 2023-06-01 2024-05-31 SC031560 d:Buildings 2024-05-31 SC031560 d:Buildings 2023-05-31 SC031560 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC031560 d:PlantMachinery 2023-06-01 2024-05-31 SC031560 d:PlantMachinery 2024-05-31 SC031560 d:PlantMachinery 2023-05-31 SC031560 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC031560 d:MotorVehicles 2023-06-01 2024-05-31 SC031560 d:MotorVehicles 2024-05-31 SC031560 d:MotorVehicles 2023-05-31 SC031560 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC031560 d:FurnitureFittings 2023-06-01 2024-05-31 SC031560 d:FurnitureFittings 2024-05-31 SC031560 d:FurnitureFittings 2023-05-31 SC031560 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC031560 d:OfficeEquipment 2023-06-01 2024-05-31 SC031560 d:OfficeEquipment 2024-05-31 SC031560 d:OfficeEquipment 2023-05-31 SC031560 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC031560 d:ComputerEquipment 2023-06-01 2024-05-31 SC031560 d:ComputerEquipment 2024-05-31 SC031560 d:ComputerEquipment 2023-05-31 SC031560 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC031560 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC031560 d:Goodwill 2023-06-01 2024-05-31 SC031560 d:Goodwill 2024-05-31 SC031560 d:Goodwill 2023-05-31 SC031560 d:CurrentFinancialInstruments 2024-05-31 SC031560 d:CurrentFinancialInstruments 2023-05-31 SC031560 d:Non-currentFinancialInstruments 2024-05-31 SC031560 d:Non-currentFinancialInstruments 2023-05-31 SC031560 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 SC031560 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 SC031560 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 SC031560 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 SC031560 d:ShareCapital 2024-05-31 SC031560 d:ShareCapital 2023-05-31 SC031560 d:SharePremium 2024-05-31 SC031560 d:SharePremium 2023-05-31 SC031560 d:CapitalRedemptionReserve 2024-05-31 SC031560 d:CapitalRedemptionReserve 2023-05-31 SC031560 d:OtherMiscellaneousReserve 2024-05-31 SC031560 d:OtherMiscellaneousReserve 2023-05-31 SC031560 d:RetainedEarningsAccumulatedLosses 2024-05-31 SC031560 d:RetainedEarningsAccumulatedLosses 2023-05-31 SC031560 c:OrdinaryShareClass2 2023-06-01 2024-05-31 SC031560 c:OrdinaryShareClass2 2024-05-31 SC031560 c:OrdinaryShareClass3 2023-06-01 2024-05-31 SC031560 c:OrdinaryShareClass3 2024-05-31 SC031560 c:OrdinaryShareClass4 2023-06-01 2024-05-31 SC031560 c:OrdinaryShareClass4 2024-05-31 SC031560 c:FRS102 2023-06-01 2024-05-31 SC031560 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SC031560 c:FullAccounts 2023-06-01 2024-05-31 SC031560 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC031560 d:Goodwill d:OwnedIntangibleAssets 2023-06-01 2024-05-31 SC031560 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC031560










J.M. COCHRAN LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

 
J.M. COCHRAN LIMITED
 

COMPANY INFORMATION


Directors
J D M Cochran 
Mrs J P Manifold 
J Manifold (appointed 21 November 2023)




Registered number
SC031560



Registered office
Banchory Farm

By Kirkcaldy

KY2  5UU




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
J.M. COCHRAN LIMITED
REGISTERED NUMBER: SC031560

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
290,458
338,868

Tangible assets
 5 
4,075,773
3,979,105

  
4,366,231
4,317,973

Current assets
  

Stocks
  
117,806
177,828

Debtors: amounts falling due within one year
 6 
1,004,947
855,112

Cash at bank and in hand
  
35,189
245,236

  
1,157,942
1,278,176

Creditors: amounts falling due within one year
 7 
(1,507,244)
(1,520,250)

Net current liabilities
  
 
 
(349,302)
 
 
(242,074)

Total assets less current liabilities
  
4,016,929
4,075,899

Creditors: amounts falling due after more than one year
 8 
(40,124)
(55,273)

Provisions for liabilities
  

Deferred tax
  
(64,091)
-

  
 
 
(64,091)
 
 
-

Net assets
  
3,912,714
4,020,626


Capital and reserves
  

Called up share capital 
 9 
32,000
32,000

Share premium account
  
10,000
10,000

Capital redemption reserve
  
18,000
18,000

Other reserves
  
315,254
315,254

Profit and loss account
  
3,537,460
3,645,372

  
3,912,714
4,020,626


Page 1

 
J.M. COCHRAN LIMITED
REGISTERED NUMBER: SC031560

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 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 statement of income and retained earnings 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 on 19 February 2025.




Mrs J P Manifold
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
J.M. COCHRAN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

J.M. Cochran Limited is a private company, limited by shares, incorporated in Scotland. The company number is SC031560 and the registered office is Banchory Farm, By Kirkcaldy, KY2 5UU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

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 Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
J.M. COCHRAN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

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 reporting 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 reporting 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; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

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 reporting date.

 
2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

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 4

 
J.M. COCHRAN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.7
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 and reducing balance method. .

Depreciation is provided on the following basis:

Land and buildings
-
4% straight line and nil
Plant and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Tractors
-
15% reducing balance
Computer equipment
-
25% reducing balance

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.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
J.M. COCHRAN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Employees

2024
2023
£
£

Wages and salaries
12,000
19,526

Social security costs
433
932

Cost of defined contribution scheme
173
7,600

12,606
28,058


The average monthly number of employees, including directors, during the year was 3 (2023 - 2).


4.


Intangible assets




Goodwill

£



Cost


At 1 June 2023
484,098



At 31 May 2024

484,098



Amortisation


At 1 June 2023
145,230


Charge for the year on owned assets
48,410



At 31 May 2024

193,640



Net book value



At 31 May 2024
290,458



At 31 May 2023
338,868



Page 6
 


 
J.M. COCHRAN LIMITED


 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


5.


Tangible fixed assets






Land and buildings
Fixtures and fittings
Plant and machinery
Tractors
Motor vehicles
Computer equipment
Total

£
£
£
£
£
£
£



Cost or valuation


At 1 June 2023
3,889,962
169,555
168,256
105,390
14,009
1,860
4,349,032


Additions
74,848
103,293
-
-
16,470
-
194,611


Disposals
-
-
-
-
(14,009)
-
(14,009)



At 31 May 2024

3,964,810
272,848
168,256
105,390
16,470
1,860
4,529,634



Depreciation


At 1 June 2023
99,077
53,126
143,122
60,190
12,958
1,454
369,927


Charge for the year on owned assets
28,478
43,945
4,441
15,809
4,118
101
96,892


Disposals
-
-
-
-
(12,958)
-
(12,958)



At 31 May 2024

127,555
97,071
147,563
75,999
4,118
1,555
453,861



Net book value



At 31 May 2024
3,837,255
175,777
20,693
29,391
12,352
305
4,075,773



At 31 May 2023
3,790,885
116,429
25,134
45,200
1,051
406
3,979,105

Page 7
 
J.M. COCHRAN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
5,206
12,020

Prepayments and accrued income
4,856
3,989

Other debtors
994,885
839,103

1,004,947
855,112



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
128,584
-

Trade creditors
64,805
32,744

Accruals and deferred income
63,233
34,561

Other taxation and social security
126
23,089

Other creditors
1,235,433
1,414,874

Other loans
4,884
4,884

Bank loans
10,179
10,098

1,507,244
1,520,250



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
23,354
28,243

Bank loans
16,770
27,030

40,124
55,273


Page 8

 
J.M. COCHRAN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



30,000 A Ordinary shares of £1.00 each
30,000
30,000
1,000 B Ordinary shares of £1.00 each
1,000
1,000
1,000 C Ordinary shares of £1.00 each
1,000
1,000

32,000

32,000



Page 9