THE COCK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
The principal activity of the company is that of a dormant subsidiary.
The company is a private company limited by shares, incorporated in England and Wales.
The registered office of the company is The Crown And Punchbowl, High Street, Horningsea, Cambridge, CB25 9JG.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The accounts have been prepared on the going concern basis notwithstanding the company transferred its trade and assets to a fellow group company on 27 February 2022. The assets and liabilities were transferred at book value and the trade has continued uninterrupted.
Revenue represents sales (excluding VAT) of goods and services, net of trade discounts provided in the normal course of business. Revenue is derived from food and beverage sales, and other revenue including rental of dining pods. Food and beverage income is recognised when served. Dining pod rental income is recognised at the date of use.
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
|