COULSTON ESTATES LIMITED |
Notes to the Accounts |
for the year ended 31 March 2023 |
|
1 |
ACCOUNTING POLICIES |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration receivable, net of discounts and value added taxes. Turnover from the sale of any goods is recognised when goods are delivered and legal title has passed. |
|
|
Development property |
|
Development property costs and attributable direct costs are charged to cost of sales when such property has been sold. Development property costs where development is in progress are included in the balance sheet at cost after the provision for any foreseen losses. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on a non-discounted basis at the tax rates which are expected to apply in the periods when the timing differences are expected to reverse. |
|
|
|
2 |
EMPLOYEES |
2023 |
|
2022 |
|
|
|
|
|
|
Number |
|
Number |
|
Average number of persons employed by the company |
|
(excluding directors with no specific service contract) |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
|
3 |
DEBTORS |
2023 |
|
2022 |
|
|
|
|
|
|
£ |
|
£ |
|
|
Deferred tax asset |
|
|
|
|
388,635 |
|
309,713 |
|
Other debtors |
12,023 |
|
8,419 |
|
|
|
|
|
|
£ 400,658 |
|
£ 318,132 |
|
|
|
|
|
|
|
|
|
|