ACCOUNTS - Final Accounts

Registered number: 4905703

P E M COWDY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the Year Ended 31 March 2025

P E M COWDY LIMITED

Registered number: 4905703

BALANCE SHEET

As at 31 March 2025

		2025		2024
Note		£		£

FIXED ASSETS
Tangible assets	4		134,151		134,151
Investments	5		398,027		502,894
			532,178		637,045
CURRENT ASSETS
Debtors: amounts falling due within one year	6	23,017		89,792
Cash at bank and in hand	7	319,184		136,407
		342,201		226,199
Creditors: amounts falling due within one year	8	(17,841)		(30,338)
NET CURRENT ASSETS			324,360		195,861

NET ASSETS			856,538		832,906

CAPITAL AND RESERVES
Called up share capital	9	2	2
Revaluation reserve		33,089	12,364
Profit and loss account		823,447	820,540
		856,538	832,906

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

P E M Cowdy

Director

Date: 10 September 2025

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P E M COWDY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 31 March 2025

1.	GENERAL INFORMATION

P E M Cowdy Limited is a limited liability company, incorporated in the United Kingdom. Its registered office is Berriewood Farm, Condover, Dorrington, Shrewsbury, Shropshire, SY5 7NN. The principal activity of the business is that of providing accountancy services and the letting of land, including agricultural land.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

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P E M COWDY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 31 March 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.4

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property

Not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

REVALUATION OF TANGIBLE FIXED ASSETS

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

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P E M COWDY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 31 March 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.7

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.8

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

EMPLOYEES

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Employees	2	2

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P E M COWDY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 31 March 2025

4.	TANGIBLE FIXED ASSETS

		Freehold property
		£
	Cost or valuation
	At 1 April 2024	134,151
	At 31 March 2025	134,151

	Net book value
	At 31 March 2025	134,151
	At 31 March 2024	134,151

The net book value of land and buildings may be further analysed as follows:
	2025	2024
	£	£

Freehold	134,151	134,151
	134,151	134,151

5.	FIXED ASSET INVESTMENTS

		Other fixed asset investments
		£
	Cost or valuation
	At 1 April 2024	502,894
	Additions	44,500
	Disposals	(170,092)
	Revaluations	20,725
	At 31 March 2025	398,027

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P E M COWDY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 31 March 2025

DEBTORS

					2025	2024
					£	£


Other debtors	23,017	89,792
	23,017	89,792

7.	CASH AND CASH EQUIVALENTS
		2025	2024
		£	£

Cash at bank and in hand	319,184	136,407
	319,184	136,407

8.	CREDITORS: Amounts falling due within one year
		2025	2024
		£	£

Corporation tax	6,891	29,076
Other taxation and social security	-	1,262
Other creditors	10,950	-
	17,841	30,338

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P E M COWDY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 31 March 2025

9.	SHARE CAPITAL
		2025	2024
		£	£

Allotted, called up and fully paid

200 (2024 - 200) Ordinary shares of £0.01 each	2	2

10.	RELATED PARTY TRANSACTIONS
	During the prior year £80,000 was advanced to the daughter of the directors. Interest was charged on the loan at 2.25%. The balance of the directors loan account at the year end was Nil (2024: £66,050). Last year a Company pension contribution of £20,000 was made in respect of Mr P E M Cowdy, a director.

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