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Registered number: 00722590
Cochranes of Oxford Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00722590
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,592 17,184
Investments 5 487,209 411,715
503,801 428,899
CURRENT ASSETS
Stocks 6 115,889 112,804
Debtors 7 28,297 62,140
Cash at bank and in hand 194,380 145,186
338,566 320,130
Creditors: Amounts Falling Due Within One Year 8 (59,584 ) (45,540 )
NET CURRENT ASSETS (LIABILITIES) 278,982 274,590
TOTAL ASSETS LESS CURRENT LIABILITIES 782,783 703,489
PROVISIONS FOR LIABILITIES
Deferred Taxation (36,115 ) (1,183 )
NET ASSETS 746,668 702,306
CAPITAL AND RESERVES
Called up share capital 9 71 71
Profit and Loss Account 746,597 702,235
SHAREHOLDERS' FUNDS 746,668 702,306
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Thomas Cochrane
Director
28 March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cochranes of Oxford Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00722590 . The registered office is Grove Farm Barns High Street, Shipton-Under-Wychwood, Chipping Norton, Oxfordshire, OX7 6DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Straight line 4%
Plant & Machinery Straight line 20%
2.4. Investments
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 6)
5 6
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 December 2023 44,068 155,489 199,557
Additions - 492 492
As at 30 November 2024 44,068 155,981 200,049
Depreciation
As at 1 December 2023 28,410 153,963 182,373
Provided during the period - 1,084 1,084
As at 30 November 2024 28,410 155,047 183,457
Net Book Value
As at 30 November 2024 15,658 934 16,592
As at 1 December 2023 15,658 1,526 17,184
5. Investments
Listed
£
Cost
As at 1 December 2023 411,715
Additions 18,215
Revaluations 58,544
Other (1,265 )
As at 30 November 2024 487,209
Provision
As at 1 December 2023 -
As at 30 November 2024 -
Net Book Value
As at 30 November 2024 487,209
As at 1 December 2023 411,715
Page 4
Page 5
6. Stocks
2024 2023
£ £
Stock 115,889 112,804
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 22,506 40,498
Prepayments and accrued income 5,309 21,642
VAT 482 -
28,297 62,140
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,846 3,807
Corporation tax 32,271 23,316
Other taxes and social security 2,464 1,041
VAT - 447
Other creditors 1 1
Accruals and deferred income 20,515 15,343
Director's loan account 487 1,585
59,584 45,540
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 71 71
Page 5