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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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COTTON GROVE LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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FOR |
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COTTON GROVE LIMITED |
COTTON GROVE LIMITED (REGISTERED NUMBER: 09296558) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 November 2017 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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COTTON GROVE LIMITED |
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COMPANY INFORMATION |
for the year ended 30 November 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
19-20 Bourne Court |
Southend Road |
Woodford Green |
Essex |
IG8 8HD |
COTTON GROVE LIMITED (REGISTERED NUMBER: 09296558) |
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ABRIDGED BALANCE SHEET |
30 November 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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COTTON GROVE LIMITED (REGISTERED NUMBER: 09296558) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 November 2017 |
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1. | STATUTORY INFORMATION |
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Cotton Grove Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The accounts have been prepared on the going concern basis as the director is of the opinion that the company |
will meet its liabilities as and when due. |
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Investment property |
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are |
initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can |
be measured reliably without undue cost or effort on an ongoing basis are measured at fair value. Gains and |
losses arising from changes in the fair value of investment properties are included in profit or loss in the period |
in which they arise. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2016 - NIL). |
COTTON GROVE LIMITED (REGISTERED NUMBER: 09296558) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 November 2017 |
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4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2016 |
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Disposals | ( |
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At 30 November 2017 |
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NET BOOK VALUE |
At 30 November 2017 |
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At 30 November 2016 |
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The investment property was valued on an open market basis on 30 November 2017 by the director. |
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5. | RELATED PARTY DISCLOSURES |
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At the balance sheet date the company was owed £1,452,267 (2016 - £2,875,000) by JWD Investments Limited, |
a company controlled by Mr J Wider, the ultimate controlling party of Cotton Grove Limited. |
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6. | FIRST YEAR ADOPTION |
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The Company has adopted FRS 102 for the year ended 30 November 2017, with the date of transition being 1 |
December 2015. On transition management have considered the effect of any changes in accounting treatment |
from UK GAAP to FRS 102 for this company but do not consider there to be any material changes that would |
warrant restatement of the comparative financials. |