Registered number
03205655
Copes Lodge Ltd
Report and Accounts
31 May 2023
Accountancy 4 Success Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Copes Lodge Ltd
Registered number: 03205655
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 601,735 606,829
Current assets
Debtors 4 920 8,239
Cash at bank and in hand 3,396 82,798
4,316 91,037
Creditors: amounts falling due within one year 5 (68,507) (70,721)
Net current (liabilities)/assets (64,191) 20,316
Total assets less current liabilities 537,544 627,145
Creditors: amounts falling due after more than one year 6 (22,789) (32,495)
Net assets 514,755 594,650
Capital and reserves
Called up share capital 3 3
Revaluation reserve 7 395,632 395,632
Profit and loss account 119,120 199,015
Shareholders' funds 514,755 594,650
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs J Owen
Director
Approved by the board on 24 October 2023
Copes Lodge Ltd
Notes to the Accounts
for the year ended 31 May 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 20 20
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2022 600,000 29,389 629,389
Disposals - (23,267) (23,267)
At 31 May 2023 600,000 6,122 606,122
Depreciation
At 1 June 2022 - 22,560 22,560
Charge for the year - 434 434
On disposals - (18,607) (18,607)
At 31 May 2023 - 4,387 4,387
Net book value
At 31 May 2023 600,000 1,735 601,735
At 31 May 2022 600,000 6,829 606,829
4 Debtors 2023 2022
£ £
Trade debtors - 4,926
Other debtors 920 3,313
920 8,239
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,600 9,600
Trade creditors - 2,876
Corporation tax - 13,892
Other taxes and social security costs (925) 2,416
Other creditors 59,832 41,937
68,507 70,721
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 22,789 32,495
7 Revaluation reserve 2023 2022
£ £
At 1 June 2022 395,632 395,632
At 31 May 2023 395,632 395,632
8 Related party transactions
There are no related party transactions.
9 Controlling party
The company is controlled by its directors who are the shareholders.
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