| John Courage (Cornwall) Limited |
| Registered number: |
01071421 |
| Balance Sheet |
| as at 31 December 2019 |
|
| Notes |
|
|
2019 |
|
|
2018 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
777,191 |
|
|
733,682 |
| Investments |
3 |
|
|
147,017 |
|
|
129,138 |
|
|
|
|
924,208 |
|
|
862,820 |
|
| Current assets |
| Debtors |
4 |
|
973 |
|
|
1,405 |
| Cash at bank and in hand |
|
|
84,900 |
|
|
99,964 |
|
|
|
85,873 |
|
|
101,369 |
|
| Creditors: amounts falling due within one year |
5 |
|
(40,863) |
|
|
(25,961) |
|
| Net current assets |
|
|
|
45,010 |
|
|
75,408 |
|
| Total assets less current liabilities |
|
|
|
969,218 |
|
|
938,228 |
|
|
| Provisions for liabilities |
|
|
|
(5,166) |
|
|
(6,399) |
|
|
| Net assets |
|
|
|
964,052 |
|
|
931,829 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Revaluation reserve |
6 |
|
|
713,835 |
|
|
703,187 |
| Profit and loss account |
|
|
|
250,117 |
|
|
228,542 |
|
| Shareholders' funds |
|
|
|
964,052 |
|
|
931,829 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr Alfred John Courage |
| Director |
| Approved by the board on 22 September 2020 |
|
| John Courage (Cornwall) Limited |
| Notes to the Accounts |
| for the year ended 31 December 2019 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to apportion the cost of each asset over its expected useful life, as follows: |
|
|
Freehold buildings |
|
Plant and machinery |
20% reducing balance |
|
|
Investments |
|
Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
Employees |
2019 |
|
2018 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 2 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 January 2019 |
700,000 |
|
66,452 |
|
- |
|
766,452 |
|
Additions |
50,000 |
|
- |
|
- |
|
50,000 |
|
At 31 December 2019 |
750,000 |
|
66,452 |
|
- |
|
816,452 |
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2019 |
- |
|
32,770 |
|
- |
|
32,770 |
|
Charge for the year |
- |
|
6,491 |
|
- |
|
6,491 |
|
At 31 December 2019 |
- |
|
39,261 |
|
- |
|
39,261 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2019 |
750,000 |
|
27,191 |
|
- |
|
777,191 |
|
At 31 December 2018 |
700,000 |
|
33,682 |
|
- |
|
733,682 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2019 |
|
2018 |
| £ |
£ |
|
Historical cost |
65,840 |
|
65,840 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
65,840 |
|
65,840 |
|
|
|
|
|
|
|
|
|
|
Revaluations |
|
The land and buildings class of fixed assets was revalued on 31 December 2019 by Mr A J Courage - director, who is internal to the company. The basis of this valuation was open market value. This class of assets has a current value of £750,000 (2018: £700,000) and a carrying amount at historical cost of £65,840 (2018: £65,840). The depreciation of this historical cost is £nil (2018: £nil). |
|
| 3 |
Investments |
|
| Other |
| investments |
Total |
| £ |
£ |
|
Cost |
|
At 1 January 2019 |
129,138 |
|
129,138 |
|
Additions |
19,964 |
|
19,964 |
|
Disposals |
(12,733) |
|
(12,733) |
|
Revaluation |
10,648 |
|
10,648 |
|
|
At 31 December 2019 |
147,017 |
|
147,017 |
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2019 |
|
2018 |
| £ |
£ |
|
|
Other debtors |
973 |
|
1,405 |
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Corporation tax |
7,952 |
|
7,109 |
|
Other taxes and social security costs |
5,312 |
|
1,047 |
|
Other creditors |
27,599 |
|
17,805 |
|
|
|
|
|
|
40,863 |
|
25,961 |
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Revaluation reserve |
2019 |
|
2018 |
| £ |
£ |
|
|
At 1 January 2019 |
703,187 |
|
716,385 |
|
Gain/(loss) on revaluation of trade investments |
10,648 |
|
(13,198) |
|
|
At 31 December 2019 |
713,835 |
|
703,187 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Related party transactions |
|
|
At the period end, Mr A J Courage was owed £9,877 (2018: £903 debit) from the company. The loan is interest free and repayable in less than one year. |
|
|
|
|
| 8 |
Controlling party |
|
|
The company is ultimately controlled by Mr A J Courage, who owns 98% of the issued share capital. |
|
|
| 9 |
Other information |
|
|
John Courage (Cornwall) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Parkwood Hill |
|
Carnon Crease |
|
Carnon Downs |
|
Truro |
|
TR3 6LJ |
