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REGISTERED NUMBER: 03378711 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 FEBRUARY 2022 TO 28 FEBRUARY 2023

FOR

COPPER & OPTIC TERMINATIONS LIMITED

COPPER & OPTIC TERMINATIONS LIMITED (REGISTERED NUMBER: 03378711)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2022 TO 28 FEBRUARY 2023










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 7


COPPER & OPTIC TERMINATIONS LIMITED (REGISTERED NUMBER: 03378711)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

28.2.23 31.1.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 180,390 106,119

CURRENT ASSETS
Stocks 413,982 334,717
Debtors 5 830,411 1,050,919
Cash at bank and in hand 878,700 833,444
2,123,093 2,219,080
CREDITORS
Amounts falling due within one year 6 (433,823 ) (667,162 )
NET CURRENT ASSETS 1,689,270 1,551,918
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,869,660

1,658,037

CREDITORS
Amounts falling due after more than one
year

7

(577,510

)

(559,564

)

PROVISIONS FOR LIABILITIES (34,042 ) (15,097 )
NET ASSETS 1,258,108 1,083,376

CAPITAL AND RESERVES
Called up share capital 1,333 1,333
Share premium 19,667 19,667
Retained earnings 1,237,108 1,062,376
1,258,108 1,083,376

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 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.

COPPER & OPTIC TERMINATIONS LIMITED (REGISTERED NUMBER: 03378711)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2023


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 Statement of Income and Retained Earnings has not been delivered.

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





P J Latham - Director


COPPER & OPTIC TERMINATIONS LIMITED (REGISTERED NUMBER: 03378711)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2022 TO 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Copper & Optic Terminations Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03378711

Registered office: Unit 1
Stone Business Park
55 Stone Road
Stoke on Trent
Staffordshire
ST4 6SR

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

i) Useful economic lives of tangible assets

The annual depreciation charge for the tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets.

ii) Stock provision

The group manufactures electro-mechanical assemblies. Given the volume of stock held it is necessary to consider the recoverability of the cost of stock and the associated provision required. When calculating the stock provision, management considers the nature and condition of stock, as well as applying assumptions around anticipated saleability of the stock.

COPPER & OPTIC TERMINATIONS LIMITED (REGISTERED NUMBER: 03378711)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the rendering of services is recognised by reference to the stage of completion at the balance sheet date; the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% reducing balance
Fixtures and fittings - 25% on cost and 25% reducing balance
Motor vehicles - 25% reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.


COPPER & OPTIC TERMINATIONS LIMITED (REGISTERED NUMBER: 03378711)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

IMPAIRMENT OF FIXED ASSETS
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

PROVISIONS
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

COPPER & OPTIC TERMINATIONS LIMITED (REGISTERED NUMBER: 03378711)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 28 FEBRUARY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 33 (2022 - 32 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2022 151,949 210,004 43,817 405,770
Additions 65,951 6,241 58,135 130,327
At 28 February 2023 217,900 216,245 101,952 536,097
DEPRECIATION
At 1 February 2022 113,573 169,930 16,148 299,651
Charge for period 20,866 13,738 21,452 56,056
At 28 February 2023 134,439 183,668 37,600 355,707
NET BOOK VALUE
At 28 February 2023 83,461 32,577 64,352 180,390
At 31 January 2022 38,376 40,074 27,669 106,119

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 31.1.22
£    £   
Trade debtors 399,540 473,945
Amounts owed by group undertakings - 20,634
Other debtors 430,871 556,340
830,411 1,050,919

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 31.1.22
£    £   
Bank loans and overdrafts 58,624 55,972
Hire purchase contracts 6,320 7,983
Trade creditors 154,937 220,709
Amounts owed to group undertakings 42,856 -
Taxation and social security 82,306 185,257
Other creditors 88,780 197,241
433,823 667,162

COPPER & OPTIC TERMINATIONS LIMITED (REGISTERED NUMBER: 03378711)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 28 FEBRUARY 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 31.1.22
£    £   
Bank loans 146,341 244,467
Hire purchase contracts 21,292 28,271
Other creditors 409,877 286,826
577,510 559,564

Amounts falling due in more than five years:

Repayable by instalments
Bank loans payable more than
5 years by instalments - 1,953
Other creditors 245,569 22,307
245,569 24,260

8. SECURED DEBTS

The bank loans are secured by a fixed and floating charge over the assets of the company.

The hire purchase liabilities are secured on the related assets.

9. OTHER FINANCIAL COMMITMENTS

The company had total guarantees commitments at the balance sheet date of £119,879 (2022 165,763).

10. RELATED PARTY DISCLOSURES

All transactions undertaken with the directors are deemed to be conducted under normal market conditions and/or are not material.

The company has taken advantage of the exemption from the disclosures required by paragraph 33.1A of Financial Reporting Standard 102 regarding transactions between fellow group companies.

11. ULTIMATE CONTROLLING PARTY

Maremar Limited is the company's ultimate parent undertaking. The parent undertaking's registered office is c/o DPC, Stone House, 55 Stone Road Business Park, Stone Road, Stoke on Trent, ST4 6SR. The address of the principal place of business is Unit 1 Stone Road Business Park, Stone Road, Stoke on Trent, ST4 6SR.