REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2020 |
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COSMO ECCLES LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2020 |
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FOR |
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COSMO ECCLES LIMITED |
COSMO ECCLES LIMITED (REGISTERED NUMBER: 00477779) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st March 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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COSMO ECCLES LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31st March 2020 |
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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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1 City Road East |
Manchester |
M15 4PN |
COSMO ECCLES LIMITED (REGISTERED NUMBER: 00477779) |
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BALANCE SHEET |
31st March 2020 |
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2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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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 | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
COSMO ECCLES LIMITED (REGISTERED NUMBER: 00477779) |
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BALANCE SHEET - continued |
31st March 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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COSMO ECCLES LIMITED (REGISTERED NUMBER: 00477779) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st March 2020 |
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1. | STATUTORY INFORMATION |
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Cosmo Eccles Limited is a private company limited by share capital, incorporated in England and Wales, registration number 00477779. The address of the registered office is 1 City Road East, Manchester, England, M15 4PN. The principal place of business address is, 17 Heyes Lane, Alderley Edge, Cheshire, SK9 7LA. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover is measured as the fair value of the consideration received or receivable, excluding value added tax. |
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Turnover principally consists of bingo, gaming machine and other income, excluding duty and value added tax which is recognised at the point of which the goods or services are provided. |
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Tangible fixed assets |
Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
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Depreciation on fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods: |
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Freehold property improvements | - | 2% on cost |
Fixtures and fittings | - | between 20%, 15% & 33.3% on reducing balance |
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At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
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If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. |
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Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. |
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COSMO ECCLES LIMITED (REGISTERED NUMBER: 00477779) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st March 2020 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Income tax expense represents the sum of the tax currently payable and deferred tax. |
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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. |
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as |
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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. |
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The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund. |
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Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. |
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Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
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Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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COSMO ECCLES LIMITED (REGISTERED NUMBER: 00477779) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st March 2020 |
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4. | TANGIBLE FIXED ASSETS |
Freehold | Fixtures |
property | and |
improvements | fittings | Totals |
£ | £ | £ |
COST |
At 1st April 2019 |
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Disposals | ( |
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At 31st March 2020 |
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DEPRECIATION |
At 1st April 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31st March 2020 |
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NET BOOK VALUE |
At 31st March 2020 |
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At 31st March 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors | ( |
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Taxation and social security |
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Other creditors |
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COSMO ECCLES LIMITED (REGISTERED NUMBER: 00477779) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st March 2020 |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | £1.00 | 2,500 | 2,500 |
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Ordinary E shares | £1.00 | 310,200 | 310,200 |
312,700 | 312,700 |
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8. | CONTINGENCIES |
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HMRC have opened an enquiry and raised assessments on company tax returns relating to prior years, but the assessments have been appealed and the collection of the tax postponed. It is not possible to predict with certainty the outcome of this enquiry and no provision has been included in these financial statements for potential additional liabilities. Should HMRC claim be successful the liability would be material, The director believes it would not affect the company's ability to continue as a going concern. |