2022-04-012023-03-312023-03-31false03147701THE COPPERMINES & LAKES COTTAGES LIMITED2023-11-0155209iso4217:GBPxbrli:pure031477012022-04-01031477012023-03-31031477012022-04-012023-03-31031477012021-09-01031477012022-03-31031477012021-09-012022-03-3103147701bus:SmallEntities2022-04-012023-03-3103147701bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3103147701bus:FullAccounts2022-04-012023-03-3103147701bus:PrivateLimitedCompanyLtd2022-04-012023-03-3103147701core:WithinOneYear2023-03-3103147701core:AfterOneYear2023-03-3103147701core:WithinOneYear2022-03-3103147701core:AfterOneYear2022-03-3103147701core:ShareCapital2023-03-3103147701core:SharePremium2023-03-3103147701core:RevaluationReserve2023-03-3103147701core:OtherReservesSubtotal2023-03-3103147701core:RetainedEarningsAccumulatedLosses2023-03-3103147701core:ShareCapital2022-03-3103147701core:SharePremium2022-03-3103147701core:RevaluationReserve2022-03-3103147701core:OtherReservesSubtotal2022-03-3103147701core:RetainedEarningsAccumulatedLosses2022-03-3103147701core:LandBuildings2023-03-3103147701core:PlantMachinery2023-03-3103147701core:Vehicles2023-03-3103147701core:FurnitureFittings2023-03-3103147701core:OfficeEquipment2023-03-3103147701core:NetGoodwill2023-03-3103147701core:IntangibleAssetsOtherThanGoodwill2023-03-3103147701core:ListedExchangeTraded2023-03-3103147701core:UnlistedNon-exchangeTraded2023-03-3103147701core:LandBuildings2022-03-3103147701core:PlantMachinery2022-03-3103147701core:Vehicles2022-03-3103147701core:FurnitureFittings2022-03-3103147701core:OfficeEquipment2022-03-3103147701core:NetGoodwill2022-03-3103147701core:IntangibleAssetsOtherThanGoodwill2022-03-3103147701core:ListedExchangeTraded2022-03-3103147701core:UnlistedNon-exchangeTraded2022-03-3103147701core:LandBuildings2022-04-012023-03-3103147701core:PlantMachinery2022-04-012023-03-3103147701core:Vehicles2022-04-012023-03-3103147701core:FurnitureFittings2022-04-012023-03-3103147701core:OfficeEquipment2022-04-012023-03-3103147701core:NetGoodwill2022-04-012023-03-3103147701core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3103147701core:ListedExchangeTraded2022-04-012023-03-3103147701core:UnlistedNon-exchangeTraded2022-04-012023-03-3103147701core:MoreThanFiveYears2022-04-012023-03-3103147701core:Non-currentFinancialInstruments2023-03-3103147701core:Non-currentFinancialInstruments2022-03-3103147701dpl:CostSales2022-04-012023-03-3103147701dpl:DistributionCosts2022-04-012023-03-3103147701core:LandBuildings2022-04-012023-03-3103147701core:PlantMachinery2022-04-012023-03-3103147701core:Vehicles2022-04-012023-03-3103147701core:FurnitureFittings2022-04-012023-03-3103147701core:OfficeEquipment2022-04-012023-03-3103147701dpl:AdministrativeExpenses2022-04-012023-03-3103147701core:NetGoodwill2022-04-012023-03-3103147701core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3103147701dpl:GroupUndertakings2022-04-012023-03-3103147701dpl:ParticipatingInterests2022-04-012023-03-3103147701dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3103147701core:ListedExchangeTraded2022-04-012023-03-3103147701dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3103147701core:UnlistedNon-exchangeTraded2022-04-012023-03-3103147701dpl:CostSales2021-09-012022-03-3103147701dpl:DistributionCosts2021-09-012022-03-3103147701core:LandBuildings2021-09-012022-03-3103147701core:PlantMachinery2021-09-012022-03-3103147701core:Vehicles2021-09-012022-03-3103147701core:FurnitureFittings2021-09-012022-03-3103147701core:OfficeEquipment2021-09-012022-03-3103147701dpl:AdministrativeExpenses2021-09-012022-03-3103147701core:NetGoodwill2021-09-012022-03-3103147701core:IntangibleAssetsOtherThanGoodwill2021-09-012022-03-3103147701dpl:GroupUndertakings2021-09-012022-03-3103147701dpl:ParticipatingInterests2021-09-012022-03-3103147701dpl:GroupUndertakingscore:ListedExchangeTraded2021-09-012022-03-3103147701core:ListedExchangeTraded2021-09-012022-03-3103147701dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-09-012022-03-3103147701core:UnlistedNon-exchangeTraded2021-09-012022-03-3103147701core:NetGoodwill2023-03-3103147701core:IntangibleAssetsOtherThanGoodwill2023-03-3103147701core:LandBuildings2023-03-3103147701core:PlantMachinery2023-03-3103147701core:Vehicles2023-03-3103147701core:FurnitureFittings2023-03-3103147701core:OfficeEquipment2023-03-3103147701core:AfterOneYear2023-03-3103147701core:WithinOneYear2023-03-3103147701core:ListedExchangeTraded2023-03-3103147701core:UnlistedNon-exchangeTraded2023-03-3103147701core:ShareCapital2023-03-3103147701core:SharePremium2023-03-3103147701core:RevaluationReserve2023-03-3103147701core:OtherReservesSubtotal2023-03-3103147701core:RetainedEarningsAccumulatedLosses2023-03-3103147701core:NetGoodwill2022-03-3103147701core:IntangibleAssetsOtherThanGoodwill2022-03-3103147701core:LandBuildings2022-03-3103147701core:PlantMachinery2022-03-3103147701core:Vehicles2022-03-3103147701core:FurnitureFittings2022-03-3103147701core:OfficeEquipment2022-03-3103147701core:AfterOneYear2022-03-3103147701core:WithinOneYear2022-03-3103147701core:Liste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THE COPPERMINES & LAKES COTTAGES LIMITED

Registered Number
03147701
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

THE COPPERMINES & LAKES COTTAGES LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

JOHNSTON, Philip Aylwin
WILKINSON-MARSH, Sarah Elizabeth Doris

Registered Address

The Estate Office
The Bridge
Coniston
LA21 8HJ

Registered Number

03147701 (England and Wales)
THE COPPERMINES & LAKES COTTAGES LIMITED
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets63,5715,434
Tangible assets81,242,0991,242,358
1,245,6701,247,792
Current assets
Stocks1163,07113,530
Debtors12229,702171,281
Cash at bank and on hand326,059403,792
618,832588,603
Creditors amounts falling due within one year13(1,038,134)(974,502)
Net current assets (liabilities)(419,302)(385,899)
Total assets less current liabilities826,368861,893
Creditors amounts falling due after one year14(136,147)(150,006)
Provisions for liabilities15(53,900)(52,725)
Net assets636,321659,162
Capital and reserves
Called up share capital100100
Profit and loss account636,221659,062
Shareholders' funds636,321659,162
The financial statements were approved and authorised for issue by the Board of Directors on 1 November 2023, and are signed on its behalf by:
JOHNSTON, Philip Aylwin
Director
Registered Company No. 03147701
THE COPPERMINES & LAKES COTTAGES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. 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. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery20-
Fixtures and fittings15-
Vehicles25-
Intangible assets policy
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
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 and operations policy
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 the Income Statement
Government grants and other government assistance policy
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.
Employee benefits policy
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Valuation of financial instruments policy
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
5.Employee information

20232022
Average number of employees during the year2929
6.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 April 2236,8009,31546,115
At 31 March 2336,8009,31546,115
Amortisation and impairment
At 01 April 2236,8003,88140,681
Charge for year-1,8631,863
At 31 March 2336,8005,74442,544
Net book value
At 31 March 23-3,5713,571
At 31 March 22-5,4345,434
7.Useful life of intangible asset
The estimated useful life of Website costs has been set at 5 years and the asset will be amortized on a straight line basis over that period.
8.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
At 01 April 221,027,689-131,544383,4751,542,708
Additions7,8463,57026,0005,97343,389
At 31 March 231,035,5353,570157,544389,4481,586,097
Depreciation and impairment
At 01 April 2245,937-12,915241,498300,350
Charge for year18,7223972,53921,99043,648
At 31 March 2364,65939715,454263,488343,998
Net book value
At 31 March 23970,8763,173142,090125,9601,242,099
At 31 March 22981,752-118,629141,9771,242,358
9.Description of nature of transactions and balances with related parties
During the year the director had a loan account with the company. At the balance sheet date the company owed the director £11,170 (2022 £73,891). This loan is unsecured, interest free and repayable upon demand.
10.Guarantees and their terms, directors
The director has provided personal guarantees of £400,000.
11.Stocks
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.

2023

2022

££
Raw materials and consumables63,07113,530
Total63,07113,530
12.Debtors

2023

2022

££
Trade debtors / trade receivables4,063237
Other debtors-2,980
Prepayments and accrued income225,639168,064
Total229,702171,281
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
13.Creditors within one year

2023

2022

££
Trade creditors / trade payables966,269806,317
Bank borrowings and overdrafts15,12016,320
Taxation and social security26,46862,702
Other creditors16,27477,672
Accrued liabilities and deferred income14,00311,491
Total1,038,134974,502
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Bank borrowings and overdrafts are secured by fixed and floating charges over the assets of the company.
14.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts136,147150,006
Total136,147150,006
Bank borrowings and overdrafts are secured by fixed and floating charges over the assets of the company.
15.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)53,90052,725
Total53,90052,725