Glebe Cottage Limited - Accounts to registrar (filleted) - small 18.2

GLEBE COTTAGE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Morrish

Mrs S R Morrish

SECRETARY:

Mrs S R Morrish

REGISTERED OFFICE:

22 Union Street

Newton Abbot

Devon

TQ12 2JS

REGISTERED NUMBER:

05813651 (England and Wales)

ACCOUNTANTS:

Barretts

Chartered Accountants &

Chartered Tax Advisers

22 Union Street

Newton Abbot

Devon

TQ12 2JS

FIXED ASSETS

Tangible assets

4

124,823

108,053

CURRENT ASSETS

Stocks

56,309

48,160

Debtors

5

64,387

87,797

Cash at bank and in hand

67,361

39,825

188,057

175,782

CREDITORS

Amounts falling due within one year

6

109,917

76,408

NET CURRENT ASSETS

78,140

99,374

TOTAL ASSETS LESS CURRENT LIABILITIES

202,963

207,427

PROVISIONS FOR LIABILITIES

13,324

12,831

NET ASSETS

189,639

194,596

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

189,539

194,496

SHAREHOLDERS' FUNDS

189,639

194,596

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 June 2020 and were signed on its behalf by:

Mrs S R Morrish - Director

1.	STATUTORY INFORMATION

Glebe Cottage Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2018

229,136

Additions

43,851

Disposals

(9,981

)

At 30 September 2019

263,006

DEPRECIATION

At 1 October 2018

121,083

Charge for year

22,672

Eliminated on disposal

(5,572

)

At 30 September 2019

138,183

NET BOOK VALUE

At 30 September 2019

124,823

At 30 September 2018

108,053

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

64,387

87,797

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

11,862

15,020

Tax

9,851

7,001

VAT

20,065

13,466

Other creditors

146

3,522

Directors' current accounts

59,839

30,040

Accruals and deferred income

8,154

7,359

109,917

76,408

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 October 2018

194,496

Profit for the year

59,043

Dividends

(64,000

)

At 30 September 2019

189,539