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REGISTERED NUMBER: 01465305 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

PETER COPSEY ENGINEERING LIMITED

PETER COPSEY ENGINEERING LIMITED (REGISTERED NUMBER: 01465305)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PETER COPSEY ENGINEERING LIMITED

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTORS: P Garrod
Mrs J Garrod
S J Collins





REGISTERED OFFICE: Unit 4 Triangle Business Park
Quilters Way
Stoke Mandeville
Aylesbury
HP22 5BL





REGISTERED NUMBER: 01465305 (England and Wales)





ACCOUNTANTS: COLIN GRAY & CO LIMITED
Chartered Accountants
Hardy House
Northbridge Road
Berkhamsted
Hertfordshire
HP4 1EF

PETER COPSEY ENGINEERING LIMITED (REGISTERED NUMBER: 01465305)

BALANCE SHEET
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 278,217 327,238

CURRENT ASSETS
Stocks 112,452 114,361
Debtors 5 396,356 351,479
Cash at bank 27,186 25,289
535,994 491,129
CREDITORS
Amounts falling due within one year 6 556,046 426,922
NET CURRENT (LIABILITIES)/ASSETS (20,052 ) 64,207
TOTAL ASSETS LESS CURRENT
LIABILITIES

258,165

391,445

CREDITORS
Amounts falling due after more than one
year

7

40,270

54,257
NET ASSETS 217,895 337,188

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 212,895 332,188
SHAREHOLDERS' FUNDS 217,895 337,188

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PETER COPSEY ENGINEERING LIMITED (REGISTERED NUMBER: 01465305)

BALANCE SHEET - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2023 and were signed on its behalf by:





P Garrod - Director


PETER COPSEY ENGINEERING LIMITED (REGISTERED NUMBER: 01465305)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Peter Copsey Engineering 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" including the provisions of Section 1A "Small Entities" 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 15% on reducing balance

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

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.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

PETER COPSEY ENGINEERING LIMITED (REGISTERED NUMBER: 01465305)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 23 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 2,097,471
Additions 479
At 28 February 2023 2,097,950
DEPRECIATION
At 1 March 2022 1,770,233
Charge for year 49,500
At 28 February 2023 1,819,733
NET BOOK VALUE
At 28 February 2023 278,217
At 28 February 2022 327,238

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 76,950
DEPRECIATION
At 1 March 2022 5,771
Charge for year 10,677
At 28 February 2023 16,448
NET BOOK VALUE
At 28 February 2023 60,502
At 28 February 2022 71,179

PETER COPSEY ENGINEERING LIMITED (REGISTERED NUMBER: 01465305)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 296,232 252,466
Other debtors 100,124 99,013
396,356 351,479

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 167,320 142,983
Hire purchase contracts 12,287 10,587
Trade creditors 170,117 122,705
Taxation and social security 85,307 66,132
Other creditors 121,015 84,515
556,046 426,922

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 40,270 54,257

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 52,557 64,844
Bank loans and facilities 167,320 142,983
219,877 207,827