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REGISTERED NUMBER: 06324642 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

COPLANT LIMITED

COPLANT LIMITED (REGISTERED NUMBER: 06324642)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COPLANT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: S Wood
Mrs C A Wood





SECRETARY: S Wood





REGISTERED OFFICE: Unit 6, Smersole Farm
Lydden Road
Swingfield
DOVER
Kent
CT15 7HF





REGISTERED NUMBER: 06324642 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Charlton House
Dour Street
DOVER
Kent
CT16 1BL

COPLANT LIMITED (REGISTERED NUMBER: 06324642)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,612,150 1,810,696
2,612,150 1,810,696

CURRENT ASSETS
Stocks 1,316,738 1,139,113
Debtors 6 199,943 387,122
Cash at bank and in hand 13,060 855,325
1,529,741 2,381,560
CREDITORS
Amounts falling due within one year 7 1,485,788 1,921,123
NET CURRENT ASSETS 43,953 460,437
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,656,103

2,271,133

CREDITORS
Amounts falling due after more than one
year

8

(501,650

)

(252,167

)

PROVISIONS FOR LIABILITIES 11 (394,562 ) (438,782 )
NET ASSETS 1,759,891 1,580,184

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 1,759,791 1,580,084
SHAREHOLDERS' FUNDS 1,759,891 1,580,184

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

COPLANT LIMITED (REGISTERED NUMBER: 06324642)

BALANCE SHEET - continued
31 JULY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2024 and were signed on its behalf by:





S Wood - Director


COPLANT LIMITED (REGISTERED NUMBER: 06324642)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION


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 presented in sterling which is the functional currency of the company.

Turnover
Turnover represents net invoiced sales and hire of goods, excluding value added tax.

The Company recognises turnover for hire of goods on a straight-line basis over the period of hire, adjusted for rebates.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, has now been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - not provided
Leasehold improvements - 20% on cost
Improvements to property - 25% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Leased plant and machinery - 10% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


COPLANT LIMITED (REGISTERED NUMBER: 06324642)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 100,000
AMORTISATION
At 1 August 2022
and 31 July 2023 100,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

COPLANT LIMITED (REGISTERED NUMBER: 06324642)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. TANGIBLE FIXED ASSETS
Improvements
Freehold Leasehold to Plant and
property improvements property machinery
£    £    £    £   
COST
At 1 August 2022 - - 2,412 139,769
Additions 638,629 178,731 - 90,026
Disposals - - - (92,340 )
Reclassification/transfer - - - (32,750 )
At 31 July 2023 638,629 178,731 2,412 104,705
DEPRECIATION
At 1 August 2022 - - 2,412 42,993
Charge for year - 35,746 - 14,407
Eliminated on disposal - - - (27,360 )
Reclassification/transfer - - - (6,976 )
At 31 July 2023 - 35,746 2,412 23,064
NET BOOK VALUE
At 31 July 2023 638,629 142,985 - 81,641
At 31 July 2022 - - - 96,776

Fixtures Leased
and Motor plant and
fittings vehicles machinery Totals
£    £    £    £   
COST
At 1 August 2022 35,148 94,429 1,647,865 1,919,623
Additions 1,381 83,875 1,032,427 2,025,069
Disposals - (3,750 ) (1,074,563 ) (1,170,653 )
Reclassification/transfer - - 32,750 -
At 31 July 2023 36,529 174,554 1,638,479 2,774,039
DEPRECIATION
At 1 August 2022 19,066 34,593 9,863 108,927
Charge for year 2,620 35,226 - 87,999
Eliminated on disposal - (938 ) (6,739 ) (35,037 )
Reclassification/transfer - - 6,976 -
At 31 July 2023 21,686 68,881 10,100 161,889
NET BOOK VALUE
At 31 July 2023 14,843 105,673 1,628,379 2,612,150
At 31 July 2022 16,082 59,836 1,638,002 1,810,696


COPLANT LIMITED (REGISTERED NUMBER: 06324642)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 146,741 195,916
VAT 49,636 -
Prepayments & other debtors 3,566 191,206
199,943 387,122

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 54,664 -
Hire purchase contracts (see note 9) 455,065 392,143
Trade creditors 814,126 1,283,354
Tax 90,367 31,441
Social security and other taxes 1,100 10,125
VAT - 137,552
Director's current account 63,738 59,780
Accrued expenses 6,728 6,728
1,485,788 1,921,123

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 15,531 -
Bank loans - 2-5 years 254,700 -
Hire purchase contracts (see note 9) 231,419 252,167
501,650 252,167

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 455,065 392,143
Between one and five years 231,419 252,167
686,484 644,310

COPLANT LIMITED (REGISTERED NUMBER: 06324642)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 39,133 -
Hire purchase contracts 686,484 644,310
725,617 644,310

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 394,562 438,782

Deferred
tax
£   
Balance at 1 August 2022 438,782
Movement in year (44,220 )
Balance at 31 July 2023 394,562

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100