Lower Berrow Cottages Limited 11028927 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the operation of furnished holiday lets. Digita Accounts Production Advanced 6.30.9574.0 true true 11028927 2024-01-01 2024-12-31 11028927 2024-12-31 11028927 core:CurrentFinancialInstruments 2024-12-31 11028927 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 11028927 core:FurnitureFittingsToolsEquipment 2024-12-31 11028927 core:LandBuildings 2024-12-31 11028927 bus:SmallEntities 2024-01-01 2024-12-31 11028927 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11028927 bus:FilletedAccounts 2024-01-01 2024-12-31 11028927 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11028927 bus:RegisteredOffice 2024-01-01 2024-12-31 11028927 bus:CompanySecretaryDirector1 2024-01-01 2024-12-31 11028927 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11028927 bus:Agent1 2024-01-01 2024-12-31 11028927 core:FurnitureFittings 2024-01-01 2024-12-31 11028927 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 11028927 core:LandBuildings 2024-01-01 2024-12-31 11028927 countries:EnglandWales 2024-01-01 2024-12-31 11028927 2023-12-31 11028927 core:FurnitureFittingsToolsEquipment 2023-12-31 11028927 core:LandBuildings 2023-12-31 11028927 2023-01-01 2023-12-31 11028927 2023-12-31 11028927 core:CurrentFinancialInstruments 2023-12-31 11028927 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11028927 core:FurnitureFittingsToolsEquipment 2023-12-31 11028927 core:LandBuildings 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 11028927

Prepared for the registrar

Lower Berrow Cottages Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Lower Berrow Cottages Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 10

 

Lower Berrow Cottages Limited

Company Information

Director

C A C Davis

Company secretary

C A C Davis

Registered office

Lower Berrow Farm
Trickses Lane
Ham Green
Redditch
B97 5TT

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

Lower Berrow Cottages Limited

Director's Report for the Year Ended 31 December 2024

The director presents her report and the financial statements for the year ended 31 December 2024.

Director of the company

The director who held office during the year was as follows:

C A C Davis - Company secretary and director

Principal activity

The principal activity of the company is the operation of furnished holiday lets.

Small companies provision statement

This report has 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.

Approved by the director on 2 May 2025 and signed on its behalf by:


C A C Davis
Company secretary and director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of Lower Berrow Cottages Limited
for the Year Ended 31 December 2024
 

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lower Berrow Cottages Limited for the year ended 31 December 2024, as set out on pages 4 to 10, from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Lower Berrow Cottages Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Lower Berrow Cottages Limited and state those matters that we have agreed to state to the Board of Directors of Lower Berrow Cottages Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lower Berrow Cottages Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lower Berrow Cottages Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Lower Berrow Cottages Limited. You consider that Lower Berrow Cottages Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Lower Berrow Cottages Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.


Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

2 May 2025

 

Lower Berrow Cottages Limited

(Registration number: 11028927)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

30,979

35,741

Current assets

 

Stocks

300

275

Cash at bank and in hand

 

8,049

-

 

8,349

275

Creditors: Amounts falling due within one year

5

(212,729)

(201,071)

Net current liabilities

 

(204,380)

(200,796)

Net liabilities

 

(173,401)

(165,055)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(173,402)

(165,056)

Shareholders' deficit

 

(173,401)

(165,055)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 May 2025
 


C A C Davis
Company secretary and director

 

Lower Berrow Cottages Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lower Berrow Farm
Trickses Lane
Ham Green
Redditch
B97 5TT

 

2

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

These financial statements show a net deficit on net assets. The company is therefore dependant upon the continued financial support of the director's loan to the company. These financial statements are prepared on a going concern basis which assumes the director will continue to provide financial support.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

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 sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

 

Lower Berrow Cottages Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Tax

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 statement of financial position 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

Property improvements

Nil

Furniture, fittings and equipment

15% reducing balance

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 and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Lower Berrow Cottages Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial instruments

 

Lower Berrow Cottages Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

Lower Berrow Cottages Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

 

4

Tangible assets

Property improvements
£

Furniture, fittings and equipment
 £

Total
£

Cost

At 1 January 2024

458

85,512

85,970

Additions

-

626

626

At 31 December 2024

458

86,138

86,596

Depreciation

At 1 January 2024

-

50,229

50,229

Charge for the year

-

5,388

5,388

At 31 December 2024

-

55,617

55,617

Carrying amount

At 31 December 2024

458

30,521

30,979

At 31 December 2023

458

35,283

35,741

 

5

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

-

1,402

Amounts due to related parties

 

203,804

189,181

Taxation and social security

 

2,110

6,105

Accruals and deferred income

 

6,815

4,383

 

212,729

201,071

 

6

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

1,402

 

Lower Berrow Cottages Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

 

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         
 

8

Related party transactions

At the balance sheet date the amount due to the director amounted to £203,804 (2023 - £189,181).