Philip Cowan Interiors Limited - Accounts to registrar (filleted) - small 23.1.5
Philip Cowan Interiors Limited - Accounts to registrar (filleted) - small 23.1.5
| REGISTERED NUMBER: |
| PHILIP COWAN INTERIORS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| PHILIP COWAN INTERIORS LIMITED (REGISTERED NUMBER: 03656819) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| PHILIP COWAN INTERIORS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 5 Resolution Close |
| Endeavour Park |
| Boston |
| Lincolnshire |
| PE21 7TT |
| PHILIP COWAN INTERIORS LIMITED (REGISTERED NUMBER: 03656819) |
| STATEMENT OF FINANCIAL POSITION |
| 31 OCTOBER 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| PHILIP COWAN INTERIORS LIMITED (REGISTERED NUMBER: 03656819) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 OCTOBER 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| PHILIP COWAN INTERIORS LIMITED (REGISTERED NUMBER: 03656819) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| 1. | STATUTORY INFORMATION |
| Philip Cowan Interiors Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The company's trading address is: |
| Enterprise Park |
| Endeavour Way |
| Sutterton |
| Boston |
| Lincolnshire |
| PE20 2JA |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts charged to customers for goods and services provided during the year, excluding value added tax and trade discounts. Sales are recognised upon delivery to the customer, or upon collection by the customer. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Tangible fixed assets are held at cost less accumulated depreciation. |
| Government grants |
| Government grants that are classified as revenue grants are recognised in the income statement in the period to which they relate, with any amounts not yet recognised being shown as a liability in the statement of financial position. |
| The government grants received relate to support in respect of the Covid 19 pandemic, including the Coronavirus Job Retention Scheme. |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items. |
| Costs are calculated using a first-in, first-out method and include all purchase, transport and handling costs in bringing stocks to their present location and condition. |
| 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. |
| PHILIP COWAN INTERIORS LIMITED (REGISTERED NUMBER: 03656819) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate. |
| Investments |
| Fixed asset investments are stated at cost less provision for any permanent diminution in value. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 November 2021 |
| Additions |
| Disposals | ( |
) |
| At 31 October 2022 |
| DEPRECIATION |
| At 1 November 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 October 2022 |
| NET BOOK VALUE |
| At 31 October 2022 |
| At 31 October 2021 |
| PHILIP COWAN INTERIORS LIMITED (REGISTERED NUMBER: 03656819) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 November 2021 |
| and 31 October 2022 |
| NET BOOK VALUE |
| At 31 October 2022 |
| At 31 October 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2022 | 2021 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Non-cancellable operating | leases |
| 2022 | 2021 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| PHILIP COWAN INTERIORS LIMITED (REGISTERED NUMBER: 03656819) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Hire purchase contracts | - | 3,000 |
| Hire purchase contracts are secured on the assets to which they relate. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary | £1 | 480 | 480 |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Cowan Holdings Limited, a company incorporated and registered in England and Wales. The registered office is: |
| 5 Resolution Close |
| Endeavour Park |
| Boston |
| Lincolnshire |
| PE21 7TT |
| and principal place of business is: |
| Enterprise Park |
| Endeavour Way |
| Sutterton |
| Boston |
| Lincolnshire |
| PE20 2JA |