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REGISTERED NUMBER: 02256171 (England and Wales)















Coppercrest Developments Limited

Unaudited Financial Statements for the Year Ended 31 October 2023






Coppercrest Developments Limited (Registered number: 02256171)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Coppercrest Developments Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr D E Carpenter
Mrs P J Carpenter





SECRETARY: Mrs P J Carpenter





REGISTERED OFFICE: Parkfield House
The Street
Rodmell
Lewes
East Sussex
BN7 3HG





REGISTERED NUMBER: 02256171 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

Coppercrest Developments Limited (Registered number: 02256171)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 592,950 592,950
Investment property 6 1,192,452 1,202,452
1,785,402 1,795,402

CURRENT ASSETS
Debtors 7 499,341 4,435
Cash at bank 35,857 481,881
535,198 486,316
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

8

652,271

651,721
NET CURRENT LIABILITIES (117,073 ) (165,405 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,668,329

1,629,997

PROVISIONS FOR LIABILITIES 61,885 58,050
NET ASSETS 1,606,444 1,571,947

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 389,947 421,282
Retained earnings 1,216,397 1,150,565
SHAREHOLDERS' FUNDS 1,606,444 1,571,947

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

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

Coppercrest Developments Limited (Registered number: 02256171)

Balance Sheet - continued
31 October 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





Mr D E Carpenter - Director


Coppercrest Developments Limited (Registered number: 02256171)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Coppercrest Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the fair value of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Coppercrest Developments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary and associated undertakings are recognised at cost, less any provision for permanent diminution in value.

Investment property
Investment property is shown at fair value at each reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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.


Coppercrest Developments Limited (Registered number: 02256171)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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.

Revenue recognition
Rental income is recognised on a receivable basis in accordance with the terms of the lease agreements.

Other income from lease extensions is recognised on the grant of the lease extension.

Income from investment property sales is recognised on the unconditional sale of the property.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 November 2022
and 31 October 2023 793
DEPRECIATION
At 1 November 2022
and 31 October 2023 793
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

Coppercrest Developments Limited (Registered number: 02256171)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 592,950
NET BOOK VALUE
At 31 October 2023 592,950
At 31 October 2022 592,950

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 1,202,452
Additions 20,000
Disposals (30,000 )
At 31 October 2023 1,192,452
NET BOOK VALUE
At 31 October 2023 1,192,452
At 31 October 2022 1,202,452

If investment properties had not been revalued they would have been included at their historical cost of £740,620 (2022: £723,120).

Investment properties were valued on a fair value basis on 31 October 2023 by the directors.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 499,341 4,435

Coppercrest Developments Limited (Registered number: 02256171)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 625,000 625,000
Taxation and social security 18,404 17,456
Other creditors 8,867 9,265
652,271 651,721

9. CALLED UP SHARE CAPITAL

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

10. RESERVES
Fair
value
reserve
£   
At 1 November 2022 421,282
Transfer of fair value adjustment (27,500 )
Transfer of deferred tax on fair value
adjustments

(3,835

)


At 31 October 2023 389,947

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made advances to the directors of £162,923 (2022: £182,500) and was repaid £164,564 (2022: £193,084). Interest was charged by the company on this loan at the rate of 2.5% and amounted to £3,049 (2022: £4,472). At the balance sheet date the company owed the director £2,201 (2022: £3,609) The loan is unsecured and repayable on demand.

12. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed its subsidiary undertaking the sum of £625,000 (2022 - £625,000) The loan is unsecured, interest free and repayable on demand.