G W Cockburn Water & Drainage Services L - Accounts to registrar (filleted) - small 23.1.2
G W Cockburn Water & Drainage Services L - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| G W Cockburn Water & Drainage Services |
| Ltd |
| Unaudited Financial Statements |
| for the Year Ended 31st October 2022 |
| G W Cockburn Water & Drainage Services |
| Ltd (Registered number: SC517080) |
| Contents of the Financial Statements |
| for the year ended 31st October 2022 |
| Page |
| Company information | 1 |
| Balance sheet | 2 | to | 3 |
| Notes to the financial statements | 4 | to | 7 |
| G W Cockburn Water & Drainage Services |
| Ltd |
| Company Information |
| for the year ended 31st October 2022 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| Academy House |
| Shedden Park Road |
| Kelso |
| Roxburghshire |
| TD5 7AL |
| G W Cockburn Water & Drainage Services |
| Ltd (Registered number: SC517080) |
| Balance Sheet |
| 31st October 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 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 |
| Creditors |
| Amounts falling due after more than one year |
8 |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Retained earnings |
| G W Cockburn Water & Drainage Services |
| Ltd (Registered number: SC517080) |
| Balance Sheet - continued |
| 31st October 2022 |
| 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. |
| 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 |
| G W Cockburn Water & Drainage Services |
| Ltd (Registered number: SC517080) |
| Notes to the Financial Statements |
| for the year ended 31st October 2022 |
| 1. | Statutory information |
| G W Cockburn Water & Drainage Services Ltd is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. |
| Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business in 2015, has now been fully amortised over its estimated useful life of five years. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Office equipment | - |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
| Stocks |
| Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion. |
| Financial instruments |
| The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, hire purchase contracts, other loans and directors' loans. |
| Hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
| Directors' loans (being repayable on demand), other loans, trade debtors, accruals and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
| Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings. |
| G W Cockburn Water & Drainage Services |
| Ltd (Registered number: SC517080) |
| Notes to the Financial Statements - continued |
| for the year ended 31st October 2022 |
| 2. | Accounting policies - continued |
| 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts are capitalised on the balance sheet and are depreciated over their estimated useful lives. |
| The interest element of these obligations is charged to the profit and loss over the relevant period. The capital element of the future payments is treated as a liability. |
| 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 profit or loss in the period to which they relate. |
| Provisions |
| Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
| Employee benefits |
| Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred. |
| Going concern |
| The directors have considered the company's financial position for a period of 12 months from the date of signing these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| G W Cockburn Water & Drainage Services |
| Ltd (Registered number: SC517080) |
| Notes to the Financial Statements - continued |
| for the year ended 31st October 2022 |
| 4. | Intangible fixed assets |
| Goodwill |
| £ |
| Cost |
| At 1st November 2021 |
| and 31st October 2022 |
| Amortisation |
| At 1st November 2021 |
| and 31st October 2022 |
| Net book value |
| At 31st October 2022 |
| At 31st October 2021 |
| 5. | Tangible fixed assets |
| Plant and | Motor | Office |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1st November 2021 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31st October 2022 |
| Depreciation |
| At 1st November 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31st October 2022 |
| Net book value |
| At 31st October 2022 |
| At 31st October 2021 |
| 6. | Debtors: amounts falling due within one year |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| G W Cockburn Water & Drainage Services |
| Ltd (Registered number: SC517080) |
| Notes to the Financial Statements - continued |
| for the year ended 31st October 2022 |
| 7. | Creditors: amounts falling due within one year |
| 2022 | 2021 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | Creditors: amounts falling due after more than one year |
| 2022 | 2021 |
| £ | £ |
| Hire purchase contracts |
| 9. | Secured debts |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Hire purchase contracts | 53,627 | 1,822 |
| Hire purchase contracts are secured against the assets in which they relate. |
| 10. | Post balance sheet events |
| Since the year end, on 30th March 2023, a dividend of £590 per share has been declared. |
| 11. | Directors' advances, credits and guarantees |
| The following advances and credits to the directors subsisted during the years ended 31st October 2022 and 31st October 2021: |
| 2022 | 2021 |
| £ | £ |
| Directors |
| Balance outstanding at start of year | 42,668 | - |
| Amounts advanced | 46,952 | 73,668 |
| Amounts repaid | (59,889 | ) | (31,000 | ) |
| Balance outstanding at end of year | 29,731 | 42,668 |
| This loan is unsecured, interest has been charged at the official rates published by HMRC and it is repayable on demand. |