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REGISTERED NUMBER: 06992035 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

Coppathorne Developments Ltd

Coppathorne Developments Ltd (Registered number: 06992035)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 August 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


Coppathorne Developments Ltd

COMPANY INFORMATION
for the year ended 31 August 2023







Directors: Mrs J Reynolds-Inman
M J Inman





Registered office: Abacus House
129 North Hill
Plymouth
Devon
PL4 8JY





Business address: 53 Mutley Road
Plymouth
Devon
PL3 4SD





Registered number: 06992035 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

Coppathorne Developments Ltd (Registered number: 06992035)

BALANCE SHEET
31 August 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 282 332
Investment property 5 530,000 530,000
530,282 530,332

Current assets
Debtors 6 2,454 1,580
Cash at bank 2,321 7,379
4,775 8,959
Creditors
Amounts falling due within one year 7 68,442 54,835
Net current liabilities (63,667 ) (45,876 )
Total assets less current liabilities 466,615 484,456

Creditors
Amounts falling due after more than
one year

8

(318,982

)

(325,959

)

Provisions for liabilities 10 (32,230 ) (24,494 )
Net assets 115,403 134,003

Capital and reserves
Called up share capital 11 10 10
Revaluation reserve 12 122,924 130,660
Retained earnings 12 (7,531 ) 3,333
Shareholders' funds 115,403 134,003

Coppathorne Developments Ltd (Registered number: 06992035)

BALANCE SHEET - continued
31 August 2023


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

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

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2024 and were signed on its behalf by:





M J Inman - Director


Coppathorne Developments Ltd (Registered number: 06992035)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 August 2023

1. STATUTORY INFORMATION

Coppathorne Developments Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office address and business address can be found on the company information page.

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 as modified by the revaluation of certain assets.

Going concern
The financial statements have been prepared on the going concern basis. This basis assumes that the company will have sufficient funding to enable it to continue to operate for the foreseeable future with the support of the directors, who believe that the going concern basis of preparation remains appropriate in the company's circumstances.

Turnover
Turnover represents amounts received from let properties adjusted for amounts in advance/arrears as at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.


Coppathorne Developments Ltd (Registered number: 06992035)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 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.

Debtors
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, less any impairment losses for bad and doubtful debts.

Creditors
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.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Coppathorne Developments Ltd (Registered number: 06992035)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Equipment
£   
Cost
At 1 September 2022
and 31 August 2023 990
Depreciation
At 1 September 2022 658
Charge for year 50
At 31 August 2023 708
Net book value
At 31 August 2023 282
At 31 August 2022 332

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 September 2022
and 31 August 2023 530,000
Net book value
At 31 August 2023 530,000
At 31 August 2022 530,000

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2019 530,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 374,845 374,845

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,454 1,580

Coppathorne Developments Ltd (Registered number: 06992035)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,400 10,800
Other creditors 60,042 44,035
68,442 54,835

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 158,982 165,959
Other creditors 160,000 160,000
318,982 325,959

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 167,382 176,759

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 32,230 24,494

Deferred
tax
£   
Balance at 1 September 2022 24,494
Provided during year 7,736
Balance at 31 August 2023 32,230

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10 Ordinary £1 10 10

Coppathorne Developments Ltd (Registered number: 06992035)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 September 2022 3,333 130,660 133,993
Deficit for the year (18,600 ) (18,600 )
Tfr to revalutaion reserve 7,736 (7,736 ) -
At 31 August 2023 (7,531 ) 122,924 115,393

13. RELATED PARTY DISCLOSURES

The directors have a joint loan with the company and at the balance sheet date were owed £216,610. Mrs J P Reynolds Inman, a director, received interest on half the loan of £1,533 in the year.

14. ULTIMATE CONTROLLING PARTY

The company was ultimately controlled by the two directors and equal shareholders, J Inman and Mrs J P Reynolds - Inman.