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Company No: 13681117 (England and Wales)

COW & SOW (BRISTOL) LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

COW & SOW (BRISTOL) LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

COW & SOW (BRISTOL) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
COW & SOW (BRISTOL) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 432,150 233,283
432,150 233,283
Current assets
Stocks 32,368 28,985
Debtors 4 297,502 141,111
Cash at bank and in hand 43,348 56,955
373,218 227,051
Creditors: amounts falling due within one year 5 ( 513,815) ( 377,790)
Net current liabilities (140,597) (150,739)
Total assets less current liabilities 291,553 82,544
Creditors: amounts falling due after more than one year 6 ( 6,723) ( 23,657)
Net assets 284,830 58,887
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 284,730 58,787
Total shareholder's funds 284,830 58,887

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Cow & Sow (Bristol) Limited (registered number: 13681117) were approved and authorised for issue by the Director on 12 March 2025. They were signed on its behalf by:

M D Warburton
Director
COW & SOW (BRISTOL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
COW & SOW (BRISTOL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cow & Sow (Bristol) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line/reducing balance] basis over its expected useful life, as follows:

[Input type of fixed asset and rate of depreciation]

Leasehold improvements 20 years straight line
Fixtures and fittings 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 53 19

3. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Total
£ £ £
Cost
At 01 October 2023 149,739 108,432 258,171
Additions 190,680 33,495 224,175
Disposals 0 ( 274) ( 274)
At 30 September 2024 340,419 141,653 482,072
Accumulated depreciation
At 01 October 2023 7,013 17,875 24,888
Charge for the financial year 8,365 16,672 25,037
Disposals 0 ( 3) ( 3)
At 30 September 2024 15,378 34,544 49,922
Net book value
At 30 September 2024 325,041 107,109 432,150
At 30 September 2023 142,726 90,557 233,283

4. Debtors

2024 2023
£ £
Trade debtors 6,310 0
Amounts owed by Group undertakings 108,775 46,798
Amounts owed by director 75,850 3,064
Prepayments 63,529 27,318
Other debtors 43,038 63,931
297,502 141,111

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 248,314 182,436
Accruals 82,923 52,041
Taxation and social security 115,452 95,649
Obligations under finance leases and hire purchase contracts 0 12,563
Other creditors 67,126 35,101
513,815 377,790

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 0 23,657
Other creditors 6,723 0
6,723 23,657

HSBC have a fixed and floating charge over assets of the business. No finance has yet been drawn down on.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and not yet paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 157,000 83,730
between one and five years 452,167 130,786
after five years 340,000 0
949,167 214,516

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Amounts owed by parent company 108,775 46,798

Dividends were declared during the year totalling £12,000 (2023: £26,000).

Transactions with the entity's director

2024 2023
£ £
Amounts owed by directors 75,850 3,064

Advances were made to the directors during the year totalling £74,511, repayments were made totalling £2,500. Interest has been charged at a rate of 2.25% totalling £775. The amount outstanding at the year end was £75,850.