Company registration number 10059611 (England and Wales)
CAWDOR ARMS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CAWDOR ARMS LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
CAWDOR ARMS LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
34,836
31,671
Current assets
Stocks
17,183
22,334
Debtors
152,784
321,298
Cash at bank and in hand
416,514
134,509
586,481
478,141
Creditors: amounts falling due within one year
(423,141)
(399,067)
Net current assets
163,340
79,074
Total assets less current liabilities
198,176
110,745
Creditors: amounts falling due after more than one year
(613)
-
Provisions for liabilities
(8,709)
(7,917)
Net assets
188,854
102,828
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
188,754
102,728
Total equity
188,854
102,828
CAWDOR ARMS LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 26 June 2025 and are signed on its behalf by:
Mrs L C G Morgan
Director
Company registration number 10059611 (England and Wales)
CAWDOR ARMS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
Cawdor Arms Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Cawdor, 72 Rhosmaen Street, Llandeilo, United Kingdom, SA19 6EN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover is recognised at point of sale.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
33% on cost and 20% on cost
Motor vehicles
33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
CAWDOR ARMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.7
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
60
58
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 October 2023
168,891
5,854
174,745
Additions
11,746
7,000
18,746
Disposals
(5,854)
(5,854)
At 30 September 2024
180,637
7,000
187,637
Depreciation and impairment
At 1 October 2023
137,221
5,853
143,074
Depreciation charged in the year
14,413
1,167
15,580
Eliminated in respect of disposals
(5,853)
(5,853)
At 30 September 2024
151,634
1,167
152,801
CAWDOR ARMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
(Continued)
- 5 -
Carrying amount
At 30 September 2024
29,003
5,833
34,836
At 30 September 2023
31,670
1
31,671
4
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
809
2,563
In two to five years
613
1,422
2,563
The hire purchase agreement is secured against the asset to which the finance relates.
5
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
CAWDOR ARMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
6
Related party transactions
OTH Limited
Immediate parent company
During previous periods the company advanced money to the related party for working capital. During the year some of this advance was repaid. At the end of the year the outstanding balance due to the company was £83,756 (2023: £200,083). The advance is interest-free, unsecured and repayable on demand.
Cawdor Estates Ltd
Fellow subsidiary company
During previous periods the company advanced money to the related party for working capital. During the year some of this advance was repaid. At the end of the year the outstanding balance due to the company was £2,555 (2023: £35,485). The advance is interest-free, unsecured and repayable on demand.
CLE Trust
A settlement in which one of the directors is a beneficiary
During an earlier year the company advanced money to the related party for working capital. During the year this advance was repaid in full. At the end of the year the outstanding balance due to the company was £nil (2023: £161). The advance was interest-free, unsecured and repayable on demand.
Cawdor Arms Property Ltd
Fellow subsidiary company
The company advances money to, and receives money from, the related party for working capital. At the end of the year the outstanding balance due to the related party was £100 (2023: amount due to the company £60,622). The advance is interest-free, unsecured and repayable on demand.
Ventura Sol Ltd
Fellow subsidiary company
The company advances money to the related party for working capital. At the end of the year the outstanding balance due to the company was £nil (2023: £2,306). The advance is interest-free, unsecured and repayable on demand.