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Coppard Developments Ltd

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2023

Registration number: 08434507

 

Coppard Developments Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Coppard Developments Ltd

Balance Sheet

31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

9,609

13,226

Current assets

 

Debtors

5

2,058

1,882

Cash at bank and in hand

 

5,579

21,299

 

7,637

23,181

Creditors: Amounts falling due within one year

6

(15,878)

(9,214)

Net current (liabilities)/assets

 

(8,241)

13,967

Total assets less current liabilities

 

1,368

27,193

Creditors: Amounts falling due after more than one year

6

(13,601)

(15,807)

Net (liabilities)/assets

 

(12,233)

11,386

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(12,234)

11,385

Shareholders' (deficit)/funds

 

(12,233)

11,386

 

Coppard Developments Ltd

Balance Sheet

31 March 2023

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

Director's responsibilities:

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

The director acknowledges his 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 16 November 2023
 

.........................................
M D Coppard
Director

   
     

Company Registration Number: 08434507

 

Coppard Developments Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Halton House
West Knighton
Dorchester
Dorset
DT2 8PG

These financial statements were authorised for issue by the director on 16 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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 Section 1A and the Companies Act 2006.

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.

These accounts are presented in pound sterling and rounded to the nearest whole pound.

Going concern

Although the company has net liabilities the financial statements have been prepared on a going concern basis as it has the continued financial support of the Director and shareholder.

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants relating to income and expenditure are recognised in other income over the period to which they relate.

 

Coppard Developments Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

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 corporation 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.

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

Office equipment

3 years straight line

Plant and machinery

4 years straight line

Vehicles

5 years straight line

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Coppard Developments Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 4).

 

Coppard Developments Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2022

1,590

35,664

6,825

44,079

Additions

-

-

567

567

At 31 March 2023

1,590

35,664

7,392

44,646

Depreciation

At 1 April 2022

1,480

23,868

5,505

30,853

Charge for the year

93

3,465

626

4,184

At 31 March 2023

1,573

27,333

6,131

35,037

Carrying amount

At 31 March 2023

17

8,331

1,261

9,609

At 31 March 2022

110

11,796

1,320

13,226

5

Debtors

2023
£

2022
£

Prepayments

1,633

1,457

Other debtors

425

425

2,058

1,882

 

Coppard Developments Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

2,206

2,206

Taxation and social security

 

2,241

5,037

Other creditors

 

9,721

261

Accruals and deferred income

 

1,710

1,710

 

15,878

9,214

7

Loans and borrowings

2023
£

2022
£

Loans and borrowings due after one year

Bank borrowings

13,601

15,807

2023
£

2022
£

Current loans and borrowings

Bank borrowings

2,206

2,206

Finance lease liabilities

-

-

Included in the loans and borrowings are the following amounts due after more than five years:

Bank borrowings: £6,984 (2021: £8,972).