17 false false false false false false false false false false true false false false false false false No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 43,890 39,147 2,600 41,747 2,143 4,743 xbrli:pure xbrli:shares iso4217:GBP 02220850 2022-05-01 2023-04-30 02220850 2023-04-30 02220850 2022-04-30 02220850 2021-05-01 2022-04-30 02220850 2022-04-30 02220850 2021-04-30 02220850 core:PlantMachinery 2022-05-01 2023-04-30 02220850 core:FurnitureFittings 2022-05-01 2023-04-30 02220850 core:MotorVehicles 2022-05-01 2023-04-30 02220850 core:NetGoodwill 2022-05-01 2023-04-30 02220850 bus:RegisteredOffice 2022-05-01 2023-04-30 02220850 bus:LeadAgentIfApplicable 2022-05-01 2023-04-30 02220850 bus:Director1 2022-05-01 2023-04-30 02220850 bus:Director3 2022-05-01 2023-04-30 02220850 bus:CompanySecretary1 2022-05-01 2023-04-30 02220850 core:NetGoodwill 2022-04-30 02220850 core:NetGoodwill 2023-04-30 02220850 core:LandBuildings 2022-04-30 02220850 core:PlantMachinery 2022-04-30 02220850 core:FurnitureFittings 2022-04-30 02220850 core:MotorVehicles 2022-04-30 02220850 core:LandBuildings 2023-04-30 02220850 core:PlantMachinery 2023-04-30 02220850 core:FurnitureFittings 2023-04-30 02220850 core:MotorVehicles 2023-04-30 02220850 core:WithinOneYear 2023-04-30 02220850 core:WithinOneYear 2022-04-30 02220850 core:AfterOneYear 2023-04-30 02220850 core:AfterOneYear 2022-04-30 02220850 core:ShareCapital 2023-04-30 02220850 core:ShareCapital 2022-04-30 02220850 core:SharePremium 2023-04-30 02220850 core:SharePremium 2022-04-30 02220850 core:RetainedEarningsAccumulatedLosses 2023-04-30 02220850 core:RetainedEarningsAccumulatedLosses 2022-04-30 02220850 core:NetGoodwill 2022-04-30 02220850 core:PlantMachinery 2022-04-30 02220850 core:MotorVehicles 2022-04-30 02220850 bus:SmallEntities 2022-05-01 2023-04-30 02220850 bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 02220850 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 02220850 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 02220850 bus:FullAccounts 2022-05-01 2023-04-30 02220850 core:LandBuildings core:LongLeaseholdAssets 2022-05-01 2023-04-30 02220850 core:OfficeEquipment 2022-05-01 2023-04-30 02220850 core:OfficeEquipment 2022-04-30 02220850 core:OfficeEquipment 2023-04-30
COMPANY REGISTRATION NUMBER: 02220850
COPPERMILL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 April 2023
COPPERMILL LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
COPPERMILL LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
Mr S Ratzker
Mr M Ratzker
Company secretary
Mrs. J. Grint
Registered office
118-122 Cheshire Street
London
United Kingdom
E2 6EJ
Accountants
TC BSG Valentine Limited
Accountants
Lynton House
7-12 Tavistock Square
London
WC1H 9BQ
COPPERMILL LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
2,143
4,743
Tangible assets
6
52,110
69,808
--------
--------
54,253
74,551
CURRENT ASSETS
Stocks
11,673
12,369
Debtors
7
586,041
664,282
Cash at bank and in hand
157,479
152,768
---------
---------
755,193
829,419
CREDITORS: amounts falling due within one year
8
( 395,995)
( 490,260)
---------
---------
NET CURRENT ASSETS
359,198
339,159
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
413,451
413,710
CREDITORS: amounts falling due after more than one year
9
( 21,325)
( 31,667)
---------
---------
NET ASSETS
392,126
382,043
---------
---------
CAPITAL AND RESERVES
Called up share capital
200
200
Share premium account
68,613
68,613
Profit and loss account
323,313
313,230
---------
---------
SHAREHOLDERS FUNDS
392,126
382,043
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
COPPERMILL LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 19 April 2024 , and are signed on behalf of the board by:
Mr M Ratzker
Director
Company registration number: 02220850
COPPERMILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2023
1. General information
The company is a private company limited by shares, registered in . The address of the registered office is 118-122 Cheshire Street, London, E2 6EJ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
on a straight line basis over 15 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
over 10 years
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
15% straight line
Motor vehicles
-
25% reducing balance
Equipment
-
33% straight line
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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2022: 17 ).
5. Intangible assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
43,890
--------
Amortisation
At 1 May 2022
39,147
Charge for the year
2,600
--------
At 30 April 2023
41,747
--------
Carrying amount
At 30 April 2023
2,143
--------
At 30 April 2022
4,743
--------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 May 2022
46,163
450,108
63,360
98,346
16,145
674,122
Disposals
( 23,000)
( 23,000)
--------
---------
--------
--------
--------
---------
At 30 Apr 2023
46,163
427,108
63,360
98,346
16,145
651,122
--------
---------
--------
--------
--------
---------
Depreciation
At 1 May 2022
46,163
408,571
63,360
70,556
15,664
604,314
Charge for the year
8,307
6,948
467
15,722
Disposals
( 21,024)
( 21,024)
--------
---------
--------
--------
--------
---------
At 30 Apr 2023
46,163
395,854
63,360
77,504
16,131
599,012
--------
---------
--------
--------
--------
---------
Carrying amount
At 30 Apr 2023
31,254
20,842
14
52,110
--------
---------
--------
--------
--------
---------
At 30 Apr 2022
41,537
27,790
481
69,808
--------
---------
--------
--------
--------
---------
7. Debtors
2023
2022
£
£
Trade debtors
282,910
201,151
Other debtors
303,131
463,131
---------
---------
586,041
664,282
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
84,164
75,113
Corporation tax
6,414
11,037
Social security and other taxes
19,610
26,527
Other creditors
275,807
367,583
---------
---------
395,995
490,260
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
21,325
31,667
--------
--------
10. Related party transactions
In the directors' opinion the company is controlled by Mr M. Ratzker who owns 50% of the issued ordinary share capital and is the largest individual shareholder of the company. Rent of £90,000 (2022: £90,000) was paid to Mr M Ratzker in respect of the company premises.