Cook Modelling Limited - Filleted accounts

COOK MODELLING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

5 APRIL 2023

Company Registration Number: 03656968

COOK MODELLING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
CONTENTS									PAGES
Company information									1
Balance sheet									2 to 3
Notes to the financial statements									4 to 8

COOK MODELLING LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2023
DIRECTOR
J Cook
SECRETARY
G Cook
REGISTERED OFFICE
4 Witan Way
Witney
Oxon
OX28 6FF
COMPANY REGISTRATION NUMBER
03656968 England and Wales

COOK MODELLING LIMITED
BALANCE SHEET
AS AT 5 APRIL 2023
			Notes		2023				2022
					£				£
FIXED ASSETS
Tangible assets			5				666				-
CURRENT ASSETS
Debtors			6		3,700				2,759
Cash at bank and in hand					10,229				14,158
					13,929				16,917
CREDITORS: Amounts falling due within one year			7		14,368				15,725
NET CURRENT (LIABILITIES) / ASSETS							(439)				1,192
TOTAL ASSETS LESS CURRENT LIABILITIES							227				1,192
Provisions for liabilities and charges							167				-
NET ASSETS							60				1,192
CAPITAL AND RESERVES
Called up share capital							1				1
Distributable profit and loss account							59				1,191
SHAREHOLDERS' FUNDS							60				1,192

COOK MODELLING LIMITED
BALANCE SHEET
AS AT 5 APRIL 2023
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 5 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
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.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board
J Cook
Director
Date approved by the board: 5 January 2024

COOK MODELLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
1	GENERAL INFORMATION
	Cook Modelling Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
	4 Witan Way
	Witney
	Oxon
	OX28 6FF
	The financial statements are presented in Sterling, which is the functional currency of the company.
2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of preparation of financial statements
	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
	Revenue recognition

	Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of clay modelling services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.
	The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.

	Grant Income
	Grant income has been recognised under the accrual model, where income is recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Grant income of £nil (2022 - £2,564) was recognised during the year, received from the governments Job Retention Scheme. This was a scheme introduced due to the COVID-19 pandemic, where employers are able to claim grants of up to 80% of furloughed employees wages costs.

COOK MODELLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
	Tangible fixed assets

	Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

	Depreciation has been provided at the following rates so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
	Plant and machinery					Straight line basis at 33.3% per annum
	Computer equipment					Straight line basis at 25% per annum
	On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
	Financial Instruments
	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
	Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

	Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

COOK MODELLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
	Impairment of non-financial assets

	At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.

	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors
	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
	Taxation
	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. 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 taxable profits.
	Deferred tax is measured using 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.

	Current and deferred tax assets and liabilities are not discounted.

COOK MODELLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	No significant accounting estimates and judgements have had to be made by the director in preparing these financial statements.

4	EMPLOYEES
	The average number of persons employed by the company (including directors) during the year was:
									2023		2022
	Average number of employees								1		1
5	TANGIBLE ASSETS
							Plant and machinery		Computer equipment		Total
							£		£		£
	Cost
	At 6 April 2022						5,078		496		5,574
	Additions						873		-		873
	At 5 April 2023						5,951		496		6,447
	Accumulated depreciation
	At 6 April 2022						5,078		496		5,574
	Charge for year						207		-		207
	At 5 April 2023						5,285		496		5,781
	Net book value
	At 6 April 2022						-		-		-
	At 5 April 2023						666		-		666
6	DEBTORS
									2023		2022
									£		£
	Other debtors								3,700		2,759

COOK MODELLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
7	CREDITORS: Amounts falling due within one year
									2023		2022
									£		£
	Taxation and social security								11,180		8,629
	Accruals and deferred income								2,250		2,251
	Other creditors								938		4,845
									14,368		15,725
8	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
	The following director's advances, credits and guarantees took place during the year:
					Balance at 6 April 2022		Amounts advanced		Amounts repaid		Balance at 5 April 2023
					£		£		£		£
	J Cook				-		9,522		9,522		-

This advance is interest free and repayable on demand.