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COMPANY REGISTRATION NUMBER: 03162521
CODSALL COBBLERS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2025
CODSALL COBBLERS LIMITED
STATEMENT OF FINANCIAL POSITION
28 February 2025
2025
2024
Note
£
£
£
£
CURRENT ASSETS
Stocks
13,000
13,000
Debtors
6
1,238
1,764
Cash at bank and in hand
1,764
2,065
--------
--------
16,002
16,829
CREDITORS: amounts falling due within one year
7
11,544
11,141
--------
--------
NET CURRENT ASSETS
4,458
5,688
-------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
4,458
5,688
CREDITORS: amounts falling due after more than one year
8
2,681
5,543
-------
-------
NET ASSETS
1,777
145
-------
-------
CAPITAL AND RESERVES
Called up share capital
9
2
2
Profit and loss account
1,775
143
-------
----
SHAREHOLDERS FUNDS
1,777
145
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2025 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CODSALL COBBLERS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
28 February 2025
These financial statements were approved by the board of directors and authorised for issue on 9 June 2025 , and are signed on behalf of the board by:
Mr L B Walker-Kukan
Director
Company registration number: 03162521
CODSALL COBBLERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
Year ended 28 February 2025
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3rd Floor, Regents House, Bath Avenue, Wolverhampton, WV1 4EG.. The trading address is 1A Birches Bridge, Wolverhampton Road, Codsall, Wolverhampton, WV8 1PE.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents the amounts sold during the year.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% straight line
Fixtures and fittings
-
15% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2024: 2 ).
5. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 March 2024 and 28 February 2025
11,192
3,962
15,154
--------
-------
--------
Depreciation
At 1 March 2024 and 28 February 2025
11,192
3,962
15,154
--------
-------
--------
Carrying amount
At 28 February 2025
--------
-------
--------
At 29 February 2024
--------
-------
--------
6. DEBTORS
2025
2024
£
£
Other debtors
1,238
1,764
-------
-------
7. CREDITORS: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
2,863
2,803
Corporation tax
2,764
1,536
Social security and other taxes
177
58
Other creditors
5,740
6,744
--------
--------
11,544
11,141
--------
--------
8. CREDITORS: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
2,681
5,543
-------
-------
9. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2025
2024
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
10. OPERATING LEASES
As lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
2025
2024
£
£
Not later than 1 year
32,500
32,500
Later than 1 year and not later than 5 years
27,084
59,584
--------
--------
59,584
92,084
--------
--------
As lessor
The total future minimum lease payments receivable under non-cancellable operating leases are as follows:
2025
2024
£
£
Not later than 1 year
24,100
24,100
Later than 1 year and not later than 5 years
20,084
44,184
--------
--------
44,184
68,284
--------
--------
11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director entered into the following advances and credits with the company:
2025
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr L B Walker-Kukan
10,775
( 10,775)
----
--------
--------
----
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr L B Walker-Kukan
7,550
( 7,550)
----
-------
-------
----
The advances are repayable on demand. No interest is charged .