Registration number:
Cotswold Assistance Limited
trading as
for the Year Ended 5 April 2024
Cotswold Assistance Limited
trading as W J Wright Funeral Directors
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Cotswold Assistance Limited
trading as W J Wright Funeral Directors
(Registration number: 5143497)
Balance Sheet as at 5 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Retained earnings |
24,052 |
24,235 |
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Shareholders' funds |
24,054 |
24,237 |
For the financial year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Cotswold Assistance Limited
trading as W J Wright Funeral Directors
(Registration number: 5143497)
Balance Sheet as at 5 April 2024
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 Profit and Loss Account.
Approved and authorised by the
.........................................
Director
Cotswold Assistance Limited
trading as W J Wright Funeral Directors
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
The principal place of business is:
Rectory House
High Street
Bourton-on-the-water
Gloucestershire
GL54 2AP
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.
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 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.
Cotswold Assistance Limited
trading as W J Wright Funeral Directors
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss.
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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Investment Properties |
Nil |
Fixtures, fittings and equipment |
25% straight line |
Motor vehicles |
25% straight line |
Investment property
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Intangible assets
Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Cotswold Assistance Limited
trading as W J Wright Funeral Directors
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
10 years |
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.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Cotswold Assistance Limited
trading as W J Wright Funeral Directors
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 6 April 2023 |
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At 5 April 2024 |
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Amortisation |
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At 6 April 2023 |
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At 5 April 2024 |
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Carrying amount |
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At 5 April 2024 |
- |
- |
At 5 April 2023 |
- |
- |
Cotswold Assistance Limited
trading as W J Wright Funeral Directors
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 6 April 2023 |
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Additions |
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- |
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At 5 April 2024 |
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Depreciation |
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At 6 April 2023 |
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Charge for the year |
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At 5 April 2024 |
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Carrying amount |
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At 5 April 2024 |
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At 5 April 2023 |
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Investment properties |
2024 |
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At 6 April 2023 and 5 April 2024 |
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The company's investment property was purchased on 10th November 2006. Refurbishment work totalling £54,360 was undertaken in the year to 5th April 2008. The directors are of the opinion that the value shown in the accounts, £195,005, is a fair reflection of the property's market value at 5 April 2024.
There has been no valuation of investment property by an independent valuer.
Stocks |
2024 |
2023 |
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Finished goods and goods for resale |
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Cotswold Assistance Limited
trading as W J Wright Funeral Directors
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024
Debtors |
2024 |
2023 |
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Trade debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of non cancellable operating lease financial commitments not included in the balance sheet is £
Cotswold Assistance Limited
trading as W J Wright Funeral Directors
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024
Related party transactions |
The company pays rent to City Trustees Limited. City Trustees Limited are trustees of Mrs H S Royle’s pension fund. The rent charge for the year is £17,500 (2023 - £17,521).
Funeral Plan Insurance |
The company has an unrecognised asset at the year end in relation to funeral plan insurances which future customers are paying into. The value of the plan at the 5th April 2024 amounts to £428,627 (2023 - £463,177).
Funeral Numbers |
In the year, the company held 96 funerals (2023 - 103).