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REGISTERED NUMBER: 07641948 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Cowland Limited

Cowland Limited (Registered number: 07641948)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cowland Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: B E Cowland
Mrs T Smith





REGISTERED OFFICE: Black Barn
Gay Dawn Farm
Valley Road
Fawkham
Kent
DA3 8LY





REGISTERED NUMBER: 07641948 (England and Wales)





ACCOUNTANTS: Haxell Giddings Limited
Black Barn
Gay Dawn Farm
Valley Road
Fawkham
Kent
DA3 8LY

Cowland Limited (Registered number: 07641948)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 134,557 152,937
Investment property 5 3,236,914 636,914
3,371,471 789,851

CURRENT ASSETS
Stocks - 1,549,133
Debtors 6 3,984 2,664
Cash at bank and in hand 225,037 68,049
229,021 1,619,846
CREDITORS
Amounts falling due within one year 7 62,135 1,040,258
NET CURRENT ASSETS 166,886 579,588
TOTAL ASSETS LESS CURRENT LIABILITIES 3,538,357 1,369,439

CREDITORS
Amounts falling due after more than one
year

8

(2,661,558

)

(1,257,950

)

PROVISIONS FOR LIABILITIES (119,495 ) (5,199 )
NET ASSETS 757,304 106,290

CAPITAL AND RESERVES
Called up share capital 10 550 550
Fair value reserve 11 659,277 47,492
Retained earnings 97,477 58,248
SHAREHOLDERS' FUNDS 757,304 106,290

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Cowland Limited (Registered number: 07641948)

Balance Sheet - continued
31 May 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2024 and were signed on its behalf by:





B E Cowland - Director


Cowland Limited (Registered number: 07641948)

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

1. STATUTORY INFORMATION

Cowland Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Leases
Rental income from an operating lease is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Cowland Limited (Registered number: 07641948)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 183,802
DEPRECIATION
At 1 June 2023 30,865
Charge for year 18,380
At 31 May 2024 49,245
NET BOOK VALUE
At 31 May 2024 134,557
At 31 May 2023 152,937

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 636,914
Additions 1,873,919
Revaluations 726,081
At 31 May 2024 3,236,914
NET BOOK VALUE
At 31 May 2024 3,236,914
At 31 May 2023 636,914

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2021 52,691
Valuation in 2024 726,081
Cost 2,458,142
3,236,914

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,458,142 584,223

Investment property was valued on an open market basis on 31 May 2024 by the directors .

Cowland Limited (Registered number: 07641948)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,984 1,664
Other debtors 1,000 1,000
3,984 2,664

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 842,700
Trade creditors 42 9,526
Taxation and social security 16,754 6,929
Other creditors 45,339 181,103
62,135 1,040,258

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,350,516 -
Other creditors 1,311,042 1,257,950
2,661,558 1,257,950

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,350,516 842,700

Bank loans are secured by legal charges over the company's properties.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
530 Ordinary £1 530 530
10 Ordinary A £1 10 10
10 Ordinary B £1 10 10
550 550

Cowland Limited (Registered number: 07641948)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

11. RESERVES
Fair
value
reserve
£   
At 1 June 2023 47,492
Revaluations 726,081
Deferred tax (114,296 )

At 31 May 2024 659,277

12. RELATED PARTY DISCLOSURES

Included in other creditors is a directors loan account balance of £1,311,042 (2023 £1,257,950).

13. ULTIMATE CONTROLLING PARTY

The controlling party is B E Cowland.