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REGISTERED NUMBER: 02620383 (England and Wales)





STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

COOPER FOODS (ANDOVER) LIMITED

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Statement of Financial Position 10

Statement of Changes in Equity 11

Statement of Cash Flows 12

Notes to the Statement of Cash Flows 13

Notes to the Financial Statements 14


COOPER FOODS (ANDOVER) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: M.E Cooper
W.J.A Cooper
J C Craven



SECRETARY: W.J.A Cooper



REGISTERED OFFICE: Market House Hopkinson Way
Portway Industrial Estate
Andover
Hampshire
SP10 3ZE



REGISTERED NUMBER: 02620383 (England and Wales)



AUDITORS: Martin and Company Audit Limited
Chartered Accountants
and Statutory Auditors
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ



BANKERS: Barclays Bank Plc
50 Jewry Street
Winchester
Hampshire
SO23 8RG

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021


The directors present their strategic report for the year ended 31 December 2021.

REVIEW OF BUSINESS
Last year and the start of this year has been a very difficult time for the company due to the Coronavirus pandemic & lockdown restrictions. The business was unable to operate during the lockdown periods and we have only been able to carry on our business for approximately the second half of the year.

However since all lockdown restrictions were lifted on 17th May 2021, operational performance has been significantly improved. The business has been extremely busy and sales have returned to pre covid levels.

Turnover increased to £10,057,514 compared to £6,607,450 last year, resulting in a gross profit of £3,593,144 and a net profit before tax of £931,354.

Shareholders' Funds have increased to £1,344,116 (2020: £953,537).

However, following the reopening of the catering trade, operational performance has improved significantly and future prospects look very positive.

Discontinued or new business areas
There have been no changes to the principal activities of the company.

Funding
The company operates well within its banking arrangements with Barclays Bank Plc.

People
At the year end the company employed 86 staff, all are critical to the success of the business.

PRINCIPAL RISKS AND UNCERTAINTIES
The Directors and management team meet regularly to review and discuss key risks and priorities, as well as producing monthly management accounts.

Health and safety
The company recognises that health and safety in the work place is paramount and it is therefore taken very seriously. The directors believe that they have all the necessary policies in place to safeguard the welfare of the staff.

Business continuity
The company has contingency plans and a comprehensive insurance package in place that would respond in the event of a major disaster to ensure the company's ability to continue supplying its customers and meeting its financial obligations.

Financial risk management objectives and policies
The directors aim to minimise the financial risk to the company and manage this as follows:

Interest rate risk
The company does not have a significant interest rate exposure.

Credit risk
The company monitors and checks the credit ratings of its customers closely, which together with monitoring payment performance on a regular basis, the directors consider that this policy meets the objective of managing and minimising exposure to credit risk.

Liquidity risk
The company controls cashflow by careful budgeting which ensures liquidity is maintained.

Currency risk
The company does not have a significant currency risk exposure.


COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021

DEVELOPMENT AND PERFORMANCE
The company continues to invest in new vans, computer software and the development of its butchery department.

ON BEHALF OF THE BOARD:





W.J.A Cooper - Secretary


5 September 2022

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2021


The directors present their report with the financial statements of the company for the year ended 31 December 2021.

DIVIDENDS
The total distribution of dividends for the year ended 31 December 2021 will be £ 365,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2021 to the date of this report.

M.E Cooper
W.J.A Cooper

Other changes in directors holding office are as follows:

J C Craven - appointed 30 September 2021

COMPANY'S POLICY ON PAYMENT OF CREDITORS
The company makes purchases from suppliers according to the terms and conditions agreed in advance between the two parties. Payments are made to suppliers when the goods or services have been received and the terms and conditions have been met.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2021


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:



W.J.A Cooper - Secretary


5 September 2022

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COOPER FOODS (ANDOVER) LIMITED


Opinion
We have audited the financial statements of Cooper Foods (Andover) Limited (the 'company') for the year ended 31 December 2021 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2021 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COOPER FOODS (ANDOVER) LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework applicable to the company via discussions with the directors and our previous knowledge of the company. This identified that the most significant laws and regulations relate to the form and content of the financial statements such as the UK Companies Act 2006 and Financial Reporting Standard 102. The company complies with these laws and regulations by using appropriately qualified professionals to prepare the financial statements.

As part of our planning process we assessed susceptibility of the company's financial statements to material misstatements, including how fraud might occur by making an assessment of the key risks. The key risks identified in respect of Cooper Foods (Andover) Limited are the correct valuation of stock, management override and in the current environment whether the company remains a going concern. The directors confirmed no actual, suspected or alleged cases of fraud.

Based on this assessment we designed our audit procedures to address these key risk areas with an emphasis on testing stock values used in the final stock valuation, along with the stock provisions made at the year end, and testing controls in place in respect of stock and those areas susceptible to management override including testing manual journals and making enquiries of management. Going concern was reviewed by assessing the company's available financial resources and accuracy of cash flow forecasting as well as enquiries of management.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COOPER FOODS (ANDOVER) LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




David Barr FCA (Senior Statutory Auditor)
for and on behalf of Martin and Company Audit Limited
Chartered Accountants
and Statutory Auditors
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

5 September 2022

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2021

31.12.21 31.12.20
Notes £    £    £    £   

TURNOVER 10,057,514 6,607,450

Cost of sales 6,464,370 4,335,398
GROSS PROFIT 3,593,144 2,272,052

Distribution costs 2,340,933 2,355,694
Administrative expenses 667,269 534,778
3,008,202 2,890,472
584,942 (618,420 )

Other operating income 372,245 682,437
OPERATING PROFIT 4 957,187 64,017

Interest receivable and similar income 86 286
957,273 64,303

Interest payable and similar expenses 5 25,919 22,218
PROFIT BEFORE TAXATION 931,354 42,085

Tax on profit 6 175,775 9,374
PROFIT FOR THE FINANCIAL YEAR 755,579 32,711

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

755,579

32,711

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 810,025 932,159
810,025 932,159

CURRENT ASSETS
Stocks 10 408,711 289,702
Debtors 11 1,077,488 572,015
Cash at bank and in hand 957,678 511,311
2,443,877 1,373,028
CREDITORS
Amounts falling due within one year 12 1,300,645 680,491
NET CURRENT ASSETS 1,143,232 692,537
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,953,257

1,624,696

CREDITORS
Amounts falling due after more than one
year

13

(547,693

)

(590,891

)

PROVISIONS FOR LIABILITIES 17 (61,448 ) (80,268 )
NET ASSETS 1,344,116 953,537

CAPITAL AND RESERVES
Called up share capital 18 35,290 35,290
Share premium 19 25,200 25,200
Retained earnings 19 1,283,626 893,047
SHAREHOLDERS' FUNDS 1,344,116 953,537

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2022 and were signed on its behalf by:





M.E Cooper - Director


COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   

Balance at 1 January 2020 35,290 983,336 25,200 1,043,826

Changes in equity
Dividends - (123,000 ) - (123,000 )
Total comprehensive income - 32,711 - 32,711
Balance at 31 December 2020 35,290 893,047 25,200 953,537

Changes in equity
Dividends - (365,000 ) - (365,000 )
Total comprehensive income - 755,579 - 755,579
Balance at 31 December 2021 35,290 1,283,626 25,200 1,344,116

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2021

31.12.21 31.12.20
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 873,363 191,690
Interest paid (17,685 ) (11,525 )
Interest element of hire purchase payments
paid

(8,234

)

(10,693

)
Tax paid (10,642 ) (59,457 )
Net cash from operating activities 836,802 110,015

Cash flows from investing activities
Purchase of tangible fixed assets (66,334 ) (80,942 )
Interest received 86 286
Net cash from investing activities (66,248 ) (80,656 )

Cash flows from financing activities
New loans in year 234,895 552,407
Capital repayments in year (215,728 ) (142,959 )
Amount introduced by directors 21,646 -
Amount withdrawn by directors - (14,506 )
Equity dividends paid (365,000 ) (123,000 )
Net cash from financing activities (324,187 ) 271,942

Increase in cash and cash equivalents 446,367 301,301
Cash and cash equivalents at beginning of
year

2

511,311

210,010

Cash and cash equivalents at end of year 2 957,678 511,311

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.12.21 31.12.20
£    £   
Profit before taxation 931,354 42,085
Depreciation charges 188,468 118,776
Finance costs 25,919 22,218
Finance income (86 ) (286 )
1,145,655 182,793
(Increase)/decrease in stocks (119,009 ) 125,563
(Increase)/decrease in trade and other debtors (521,194 ) 741,748
Increase/(decrease) in trade and other creditors 367,911 (858,414 )
Cash generated from operations 873,363 191,690

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2021
31.12.21 1.1.21
£    £   
Cash and cash equivalents 957,678 511,311
Year ended 31 December 2020
31.12.20 1.1.20
£    £   
Cash and cash equivalents 511,311 210,010


3. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1.1.21 Cash flow At 31.12.21
£    £    £   
Net cash
Cash at bank and in hand 511,311 446,367 957,678
511,311 446,367 957,678
Debt
Finance leases (186,841 ) 62,500 (124,341 )
Debts falling due within 1 year (99,533 ) (88,467 ) (188,000 )
Debts falling due after 1 year (499,506 ) 6,800 (492,706 )
(785,880 ) (19,167 ) (805,047 )
Total (274,569 ) 427,200 152,631

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Cooper Foods (Andover) 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" 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.

Revenue is recognised upon delivery of goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been amortised fully.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Long leasehold - 2% on cost
Plant and machinery - 10% - 33.33% on cost
Fixtures and fittings - 10% - 33.33% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% - 25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Due to the Coronavirus pandemic, the assets have not been in full use and therefore depreciation was not provided for during lockdown periods.

Government grants
Government grants in respect of revenue items are credited to the profit and loss account in the period in which they become receivable.

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

Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula.


COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Judgements and estimation uncertainty
The directors have made judgements in relation to whether there are any indicators of impairment of the company's tangible fixed assets.

Estimation uncertainty relates to tangible fixed assets and stock.

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Basic financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

3. EMPLOYEES AND DIRECTORS
31.12.21 31.12.20
£    £   
Wages and salaries 1,785,196 1,844,411
Social security costs 145,209 132,315
Other pension costs 196,102 120,451
2,126,507 2,097,177

The average number of employees during the year was as follows:
31.12.21 31.12.20

Administrative and sales 24 28
Fish and meat preparation 27 32
Transport and warehouse 32 34
83 94

31.12.21 31.12.20
£    £   
Directors' remuneration 34,639 17,492
Directors' pension contributions to money purchase schemes 160,000 80,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


4. OPERATING PROFIT

The operating profit is stated after charging:

31.12.21 31.12.20
£    £   
Other operating leases 45,750 45,750
Depreciation - owned assets 126,858 66,084
Depreciation - assets on hire purchase contracts 61,610 52,692
Auditors' remuneration 7,000 6,500

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.21 31.12.20
£    £   
Bank loan interest 15,449 8,458
Mortgage 2,236 3,067
Hire purchase 8,234 10,693
25,919 22,218

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.21 31.12.20
£    £   
Current tax:
UK corporation tax 194,595 12,368

Deferred tax (18,820 ) (2,994 )
Tax on profit 175,775 9,374

UK corporation tax has been charged at 19% (2020 - 19%).

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.21 31.12.20
£    £   
Profit before tax 931,354 42,085
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2020 - 19%)

176,957

7,996

Effects of:
Expenses not deductible for tax purposes 143 95
Depreciation in excess of capital allowances 17,495 4,277
Deferred tax movement (18,820 ) (2,994 )

Total tax charge 175,775 9,374

7. DIVIDENDS
31.12.21 31.12.20
£    £   
Interim 365,000 123,000

8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 16,750
AMORTISATION
At 1 January 2021
and 31 December 2021 16,750
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 -

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


9. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 January 2021 531,614 733,166 125,550
Additions - 20,032 -
At 31 December 2021 531,614 753,198 125,550
DEPRECIATION
At 1 January 2021 92,824 566,389 117,522
Charge for year 10,500 69,956 3,581
At 31 December 2021 103,324 636,345 121,103
NET BOOK VALUE
At 31 December 2021 428,290 116,853 4,447
At 31 December 2020 438,790 166,777 8,028

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2021 622,526 152,637 2,165,493
Additions 39,646 6,656 66,334
At 31 December 2021 662,172 159,293 2,231,827
DEPRECIATION
At 1 January 2021 321,580 135,019 1,233,334
Charge for year 96,358 8,073 188,468
At 31 December 2021 417,938 143,092 1,421,802
NET BOOK VALUE
At 31 December 2021 244,234 16,201 810,025
At 31 December 2020 300,946 17,618 932,159

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


9. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2021 25,450 412,265 437,715
Additions - 39,646 39,646
Transfer to ownership - (157,775 ) (157,775 )
At 31 December 2021 25,450 294,136 319,586
DEPRECIATION
At 1 January 2021 9,350 124,096 133,446
Charge for year 7,000 54,610 61,610
Transfer to ownership - (65,415 ) (65,415 )
At 31 December 2021 16,350 113,291 129,641
NET BOOK VALUE
At 31 December 2021 9,100 180,845 189,945
At 31 December 2020 16,100 288,169 304,269

10. STOCKS
31.12.21 31.12.20
£    £   
Stocks 408,711 289,702

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 970,504 443,286
Other debtors 357 250
Directors' loan accounts - 15,721
VAT 12,928 9,759
Prepayments 93,699 102,999
1,077,488 572,015

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts (see note 14) 188,000 99,533
Hire purchase contracts (see note 15) 69,354 95,456
Trade creditors 733,547 403,101
Tax 194,595 10,642
Social security and other taxes 56,725 28,720
Other creditors 16,033 6,296
Directors' loan accounts 5,925 -
Accrued expenses 36,466 36,743
1,300,645 680,491

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Bank loans (see note 14) 492,706 499,506
Hire purchase contracts (see note 15) 54,987 91,385
547,693 590,891

14. LOANS

An analysis of the maturity of loans is given below:

31.12.21 31.12.20
£    £   
Amounts falling due within one year or on demand:
Bank loans 188,000 99,533

Amounts falling due between one and two years:
Bank loans - 1-2 years 151,039 145,500

Amounts falling due between two and five years:
Bank loans - 2-5 years 341,667 312,339

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 41,667

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


14. LOANS - continued

The mortgage is repayable in monthly instalments of £4,000 over 15 years and interest is payable at 2.725% above base rate on the principal amount.

The company has a Floating Rate Basis Coronavirus Business Interruption Loan which is repayable 6 years after the date of first drawdown of the facility. The loan is repayable in 60 instalments of £8,333.33 per month commencing after the end of the capital repayment holiday of 12 months from the date of first drawdown of facility. Interest is payable on a floating rate basis, under which the interest rate will never be less than the margin of 2.8% per annum.

The company took out another Floating Rate Basis Coronavirus Business Interruption Loan in the year which is repayable 5 years after the date of first drawdown of the facility. The loan is repayable in 60 instalments of £3,333.33 per month. Interest is payable on a floating rate basis, under which the interest rate will never be less than the margin of 2.39% per annum.

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.21 31.12.20
£    £   
Net obligations repayable:
Within one year 69,354 95,456
Between one and five years 54,987 91,385
124,341 186,841

Non-cancellable operating leases
31.12.21 31.12.20
£    £   
Within one year 64,433 60,372
Between one and five years 102,337 161,534
166,770 221,906

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


16. SECURED DEBTS

The following secured debts are included within creditors:

31.12.21 31.12.20
£    £   
Bank loans 680,706 599,039
Hire purchase contracts 124,341 186,841
805,047 785,880

The bank borrowings are secured with charges over 13 Hopkinson Way, West Portway, Andover, Hampshire, SP10 3ZE on the banks standard form dated 24th December 2009 and 3rd September 2021.

There is a limited guarantee given by M E Cooper and W J A Cooper, directors, for £80,000 dated 7th July 2004.

The hire purchase agreements are secured on the assets to which they relate.

17. PROVISIONS FOR LIABILITIES
31.12.21 31.12.20
£    £   
Deferred tax 61,448 80,268

Deferred
tax
£   
Balance at 1 January 2021 80,268
Provided during year (18,820 )
Balance at 31 December 2021 61,448

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.12.20
value: £    £   
35,290 Ordinary £1 35,290 35,290

19. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2021 893,047 25,200 918,247
Profit for the year 755,579 755,579
Dividends (365,000 ) (365,000 )
At 31 December 2021 1,283,626 25,200 1,308,826

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


20. CAPITAL COMMITMENTS
31.12.21 31.12.20
£    £   
Contracted but not provided for in the
financial statements 187,350 -

21. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2021 and 31 December 2020:

31.12.21 31.12.20
£    £   
M.E Cooper
Balance outstanding at start of year 7,860 2,624
Amounts advanced 187,928 66,736
Amounts repaid (195,879 ) (61,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (91 ) 7,860

W.J.A Cooper
Balance outstanding at start of year 7,861 (1,408 )
Amounts advanced 177,437 92,707
Amounts repaid (191,132 ) (83,438 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,834 ) 7,861