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Company No: 00802651 (England and Wales)

COWPER ROAD PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

COWPER ROAD PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

COWPER ROAD PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2023
COWPER ROAD PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 500,000 500,000
500,000 500,000
Current assets
Debtors 4 3,821 1,093
Cash at bank and in hand 23,985 17,559
27,806 18,652
Creditors: amounts falling due within one year 5 ( 15,031) ( 9,930)
Net current assets 12,775 8,722
Total assets less current liabilities 512,775 508,722
Provision for liabilities ( 6,259) ( 6,259)
Net assets 506,516 502,463
Capital and reserves
Called-up share capital 5,000 5,000
Revaluation reserve 201,499 201,499
Capital redemption reserve 7,000 7,000
Profit and loss account 293,017 288,964
Total shareholders' funds 506,516 502,463

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Cowper Road Properties Limited (registered number: 00802651) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

A Snook
Director
S Walpole
Director

18 March 2024

COWPER ROAD PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
COWPER ROAD PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cowper Road Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is E&Sj Walpole Ltd, Greens Road, Dereham, NR20 3TG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 July 2022 500,000
As at 30 June 2023 500,000

Valuation

The 2023 valuations were made by the directors of the company, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 298,501 298,501

4. Debtors

2023 2022
£ £
Trade debtors 0 212
Other debtors 3,821 881
3,821 1,093

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 6 217
Corporation tax 327 917
Other creditors 14,698 8,796
15,031 9,930

6. Contingencies

Contingent liabilities

The Company's bankers hold a cross guarantee on the assets of the connected companies, John Walpole Commercials Limited and E. & S.J Walpole (Haulage) Limited. At 30 June 2023 those companies had bank borrowings of £1,027,741 (2022: £1,090,980).

7. Related party transactions

Other related party transactions

2023 2022
£ £
Amount owed by the company 12,498 6,796

As at the year end the above amount was owed to a company with common shareholders. No interest is charged and the amount is deemed repayable on demand.