Registration number:
Cottage Developments (South West) Limited
for the Year Ended 31 March 2025
Cottage Developments (South West) Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Cottage Developments (South West) Limited
Company Information
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Director |
Mr Phillip Patrick O'Neill |
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Registered office |
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Accountants |
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Cottage Developments (South West) Limited
(Registration number: 04768273)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
80 |
80 |
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Retained earnings |
224,338 |
224,338 |
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Shareholders' funds |
224,418 |
224,418 |
For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Cottage Developments (South West) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency in these financial statements is pounds sterling (£).
Going concern
Although the company did not trade during the year, on the basis that the director and other related-party companies will continue to provide financial support, these financial statements have been prepared on a going concern basis.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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.
Depreciation
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Asset class |
Depreciation method and rate |
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Land and buildings |
None provided |
Investment property
Cottage Developments (South West) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.
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.
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.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Investment properties |
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2025 |
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At 1 April |
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At 31 March |
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The valuation was provided by external valuers, Miller Commercial Valuers Ltd (RICS) in 2019. The value was based on the market value of the property as an investment.
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Debtors |
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Current |
2025 |
2024 |
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Other debtors |
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Cottage Developments (South West) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Accruals and deferred income |
- |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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80 |
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80 |
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Related party transactions |
Summary of transactions with other related parties
At the balance sheet date the amount due to Cottage Developments (SW) Limited was £168,677 (2024 - £166,977).
At the balance sheet date the amount due to Sullivan's (SW) Limited was £7,000 (2024 - £7,000).