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Registration number: 11885255

Copacetic PR Ltd

Unaudited Filleted Financial Statements

for the Period from 1 April 2023 to 31 July 2023

 

Copacetic PR Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Copacetic PR Ltd

Company Information

Directors

Mr L L C Yeo

Ms C Lopez Bertomeu

Registered office

2 Western Street
Barnsley
South Yorkshire
S70 2BP

Accountants

Cameron Alexander Accountants Limited
Chartered Certified Accountants
2 Western Street
Barnsley
S70 2BP

 

Copacetic PR Ltd

(Registration number: 11885255)
Balance Sheet as at 31 July 2023

Note

2023
£

2023
£

Fixed assets

 

Tangible assets

3

-

187

Current assets

 

Debtors

4

-

490

Cash at bank and in hand

 

-

2,867

 

-

3,357

Creditors: Amounts falling due within one year

5

(20,363)

(11,863)

Net current liabilities

 

(20,363)

(8,506)

Net liabilities

 

(20,363)

(8,319)

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

(20,365)

(8,321)

Shareholders' deficit

 

(20,363)

(8,319)

For the financial period ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 October 2023 and signed on its behalf by:
 

.........................................
Mr L L C Yeo
Director

 

Copacetic PR Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 July 2023

1

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

- 50% Reducing balance

 

Copacetic PR Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 July 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

2

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

 

Copacetic PR Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 July 2023

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

1,500

1,500

Disposals

(1,500)

(1,500)

At 31 July 2023

-

-

Depreciation

At 1 April 2023

1,313

1,313

Eliminated on disposal

(1,313)

(1,313)

At 31 July 2023

-

-

Carrying amount

At 31 July 2023

-

-

At 31 March 2023

187

187

4

Debtors

Current

2023
£

2023
£

Trade debtors

-

375

Prepayments

-

71

Other debtors

-

44

 

-

490

5

Creditors

Creditors: amounts falling due within one year

2023
£

2023
£

Due within one year

Trade creditors

-

112

Accruals and deferred income

1,200

900

Other creditors

19,163

10,851

20,363

11,863

 

Copacetic PR Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 July 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

7

Related party transactions

Transactions with directors

2023

At 1 April 2023
£

Repayments by director
£

At 31 July 2023
£

Mr L L C Yeo

No interest is charged on the loan and there is no fixed date of repayment.

10,807

8,309

19,116

       
     

 

2023

At 1 April 2022
£

Advances to director
£

At 31 March 2023
£

Mr L L C Yeo

No interest is charged on the loan and there is no fixed date of repayment.

11,616

(809)

10,807