Paul Cooper & Sons Limited
Registered number: 05300727
Statement of Financial Position
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 22,043 12,409
Current assets
Stocks 3,500 3,500
Debtors 4 5,691 4,402
Cash at bank and in hand 291,580 272,266
300,771 280,168
Creditors: amounts falling due within one year 5 (13,607) (7,344)
Net current assets 287,164 272,824
Total assets less current liabilities 309,207 285,233
Provisions for liabilities (4,188) (2,358)
Net assets 305,019 282,875
Capital and reserves
Called up share capital 1 1
Profit and loss account 305,018 282,874
Shareholder's funds 305,019 282,875
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Cooper
Director
Approved by the board on 24 April 2024
Paul Cooper & Sons Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction 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. 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 4 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 54,029
Additions 18,591
Disposals (12,124)
At 30 November 2023 60,496
Depreciation
At 1 December 2022 41,620
Charge for the year 7,347
On disposals (10,514)
At 30 November 2023 38,453
Net book value
At 30 November 2023 22,043
At 30 November 2022 12,409
4 Debtors 2023 2022
£ £
Trade debtors - 918
Other debtors 5,691 3,484
5,691 4,402
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,357 2,739
Accruals 2,415 2,320
Corporation tax 7,574 -
Other taxes and social security costs - 196
Other creditors 2,261 2,089
13,607 7,344
6 Other information
Paul Cooper & Sons Limited is a private company limited by shares and incorporated in England. Its registered office is:
6 Pine Drive
Blackwater
Camberley
GU17 9BG
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