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REGISTERED NUMBER: 07232512 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Jack Coupe & Sons Limited

Jack Coupe & Sons Limited (Registered number: 07232512)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Jack Coupe & Sons Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: Mr S M Coupe
Mr M P Coupe



SECRETARY: Ms M Mcgregor



REGISTERED OFFICE: Hackworth Industrial Park
Shildon
County Durham
DL4 1HG



REGISTERED NUMBER: 07232512 (England and Wales)



ACCOUNTANTS: Haines Watts
Chartered Accountants
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN



BANKERS: Santander UK Plc
Business and Corporate Banking Operation
Bridle Road
Bootle
Merseyside
L30 4GB

Jack Coupe & Sons Limited (Registered number: 07232512)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 1,751,723 1,650,359
Investments 7 76 76
1,751,799 1,650,435

CURRENT ASSETS
Stocks 524,579 448,779
Debtors 8 987,752 995,635
Cash at bank 307,975 313,865
1,820,306 1,758,279
CREDITORS
Amounts falling due within one year 9 901,552 909,829
NET CURRENT ASSETS 918,754 848,450
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,670,553

2,498,885

CREDITORS
Amounts falling due after more than one
year

10

(354,299

)

(406,144

)

PROVISIONS FOR LIABILITIES (321,460 ) (290,096 )
NET ASSETS 1,994,794 1,802,645

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 12 384,062 381,264
Profit and loss account 1,610,730 1,421,379
1,994,794 1,802,645

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:




Mr M P Coupe - Director



Mr S M Coupe - Director


Jack Coupe & Sons Limited (Registered number: 07232512)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Jack Coupe & Sons 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery15%-33 1/3% reducing balance
Fixtures, fittings & equipment15% reducing balance
Motor vehicles25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Jack Coupe & Sons Limited (Registered number: 07232512)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

3. ACCOUNTING POLICIES - continued
Taxation
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.

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.

Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 38 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 157,000
AMORTISATION
At 1 May 2022
and 30 April 2023 157,000
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 -

Jack Coupe & Sons Limited (Registered number: 07232512)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2022 3,543,220
Additions 401,420
Disposals (217,984 )
At 30 April 2023 3,726,656
DEPRECIATION
At 1 May 2022 1,892,861
Charge for year 258,753
Eliminated on disposal (176,681 )
At 30 April 2023 1,974,933
NET BOOK VALUE
At 30 April 2023 1,751,723
At 30 April 2022 1,650,359

Plant at Shildon was revalued on 10 May 2016 by James Sutherland (Auctioneers) Limited, it was valued at £625,000.

If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:

20222021
££

Cost248,008248,008
Accumulated depreciation(242,469)(239,144)
Carrying value5,5398,864

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2022
and 30 April 2023 76
NET BOOK VALUE
At 30 April 2023 76
At 30 April 2022 76

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 955,887 952,654
Other debtors 31,865 42,981
987,752 995,635

Jack Coupe & Sons Limited (Registered number: 07232512)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 83,016 3,164
Trade creditors 625,212 720,311
Taxation and social security 119,225 113,499
Other creditors 74,099 72,855
901,552 909,829

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 233,438 399,432
Other creditors 120,861 6,712
354,299 406,144

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase - 23,319

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 316,454 402,596

Hire purchase liabilities are secured against the assets to which they relate.

12. RESERVES
Revaluation
reserve
£   
At 1 May 2022 381,264
Transfers 2,798

At 30 April 2023 384,062