IRIS Accounts Production v24.1.0.578 02620383 Board of Directors 1.1.23 31.12.23 31.12.23 true false true true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh026203832022-12-31026203832023-12-31026203832023-01-012023-12-31026203832021-12-31026203832022-01-012022-12-31026203832022-12-3102620383ns15:EnglandWales2023-01-012023-12-3102620383ns14:PoundSterling2023-01-012023-12-3102620383ns10:Director12023-01-012023-12-3102620383ns10:CompanySecretary12023-01-012023-12-3102620383ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3102620383ns10:FRS1022023-01-012023-12-3102620383ns10:Audited2023-01-012023-12-3102620383ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-01-012023-12-3102620383ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-01-012023-12-3102620383ns10:FullAccounts2023-01-012023-12-310262038312023-01-012023-12-3102620383ns10:OrdinaryShareClass12023-01-012023-12-3102620383ns10:Director22023-01-012023-12-3102620383ns10:RegisteredOffice2023-01-012023-12-3102620383ns10:Director32023-01-012023-12-3102620383ns5:CurrentFinancialInstruments2023-12-3102620383ns5:CurrentFinancialInstruments2022-12-3102620383ns5:Non-currentFinancialInstruments2023-12-3102620383ns5:Non-currentFinancialInstruments2022-12-3102620383ns5:ShareCapital2023-12-3102620383ns5:ShareCapital2022-12-3102620383ns5:SharePremium2023-12-3102620383ns5:SharePremium2022-12-3102620383ns5:RetainedEarningsAccumulatedLosses2023-12-3102620383ns5:RetainedEarningsAccumulatedLosses2022-12-3102620383ns5:ShareCapital2021-12-3102620383ns5:RetainedEarningsAccumulatedLosses2021-12-3102620383ns5:SharePremium2021-12-3102620383ns5:RetainedEarningsAccumulatedLosses2022-01-012022-12-3102620383ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3102620383ns5:NetGoodwill2023-01-012023-12-3102620383ns5:OwnedAssets2023-01-012023-12-3102620383ns5:OwnedAssets2022-01-012022-12-3102620383ns5:LeasedAssets2023-01-012023-12-3102620383ns5:LeasedAssets2022-01-012022-12-310262038342023-01-012023-12-310262038342022-01-012022-12-3102620383ns5:HirePurchaseContracts2023-01-012023-12-3102620383ns5:HirePurchaseContracts2022-01-012022-12-3102620383ns10:OrdinaryShareClass12022-01-012022-12-3102620383ns5:NetGoodwill2022-12-3102620383ns5:NetGoodwill2023-12-3102620383ns5:NetGoodwill2022-12-3102620383ns5:PlantMachinery2022-12-3102620383ns5:FurnitureFittings2022-12-3102620383ns5:MotorVehicles2022-12-3102620383ns5:ComputerEquipment2022-12-3102620383ns5:PlantMachinery2023-01-012023-12-3102620383ns5:FurnitureFittings2023-01-012023-12-3102620383ns5:MotorVehicles2023-01-012023-12-3102620383ns5:ComputerEquipment2023-01-012023-12-3102620383ns5:PlantMachinery2023-12-3102620383ns5:FurnitureFittings2023-12-3102620383ns5:MotorVehicles2023-12-3102620383ns5:ComputerEquipment2023-12-3102620383ns5:PlantMachinery2022-12-3102620383ns5:FurnitureFittings2022-12-3102620383ns5:MotorVehicles2022-12-3102620383ns5:ComputerEquipment2022-12-3102620383ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3102620383ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3102620383ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3102620383ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3102620383ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3102620383ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3102620383ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3102620383ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3102620383ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-12-3102620383ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2022-12-3102620383ns5:HirePurchaseContracts2023-12-3102620383ns5:HirePurchaseContracts2022-12-3102620383ns5:WithinOneYear2023-12-3102620383ns5:WithinOneYear2022-12-3102620383ns5:BetweenOneFiveYears2023-12-3102620383ns5:BetweenOneFiveYears2022-12-3102620383ns5:AllPeriods2023-12-3102620383ns5:AllPeriods2022-12-3102620383ns5:DeferredTaxation2022-12-3102620383ns5:DeferredTaxation2023-01-012023-12-3102620383ns5:DeferredTaxation2023-12-3102620383ns10:OrdinaryShareClass12023-12-31026203831ns10:Director12022-12-31026203831ns10:Director12021-12-31026203831ns10:Director12023-01-012023-12-31026203831ns10:Director12022-01-012022-12-31026203831ns10:Director12023-12-31026203831ns10:Director12022-12-3102620383ns10:Director222022-12-3102620383ns10:Director222021-12-3102620383ns10:Director222023-01-012023-12-3102620383ns10:Director222022-01-012022-12-3102620383ns10:Director222023-12-3102620383ns10:Director222022-12-310262038312023-01-012023-12-31
REGISTERED NUMBER: 02620383 (England and Wales)





STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

COOPER FOODS (ANDOVER) LIMITED

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Statement of Financial Position 10

Statement of Changes in Equity 11

Statement of Cash Flows 12

Notes to the Statement of Cash Flows 13

Notes to the Financial Statements 14


COOPER FOODS (ANDOVER) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: M.E Cooper
W.J.A Cooper



SECRETARY: W.J.A Cooper



REGISTERED OFFICE: Market House Hopkinson Way
Portway Industrial Estate
Andover
Hampshire
SP10 3ZE



REGISTERED NUMBER: 02620383 (England and Wales)



AUDITORS: Martin and Company Audit Limited
Chartered Accountants
and Statutory Auditors
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ



BANKERS: Barclays Bank Plc
50 Jewry Street
Winchester
Hampshire
SO23 8RG

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2023


The directors present their strategic report for the year ended 31st December 2023.

REVIEW OF BUSINESS
During 2023, despite challenges from high inflation and cost of living pressures on end customers to the restaurant trade, business has been extremely busy and sales have once again increased.

Turnover increased to £14,275,680 compared to £13,728,851 last year, resulting in a gross profit of £4,858,141 and a net profit before tax of £1,220,424.

Shareholders' Funds have increased to £2,460,726 (2022: £1,980,809).

Operational performance has continued to be successful and future prospects are expected to be very positive.

Discontinued or new business areas
There have been no changes to the principal activities of the company.

Funding
The company operates well within its banking arrangements with Barclays Bank Plc.

People
At the year end the company employed 86 staff, all are critical to the success of the business.

PRINCIPAL RISKS AND UNCERTAINTIES
The Directors and management team meet regularly to review and discuss key risks and priorities, as well as producing monthly management accounts.

Health and safety
The company recognises that health and safety in the work place is paramount and it is therefore taken very seriously. The directors believe that they have all the necessary policies in place to safeguard the welfare of the staff.

Business continuity
The company has contingency plans and a comprehensive insurance package in place that would respond in the event of a major disaster to ensure the company's ability to continue supplying its customers and meeting its financial obligations.

Financial risk management objectives and policies
The directors aim to minimise the financial risk to the company and manage this as follows:

Interest rate risk
The company does not have a significant interest rate exposure.

Credit risk
The company monitors and checks the credit ratings of its customers closely, which together with monitoring payment performance on a regular basis, the directors consider that this policy meets the objective of managing and minimising exposure to credit risk.

Liquidity risk
The company controls cashflow by careful budgeting which ensures liquidity is maintained.

Currency risk
The company does not have a significant currency risk exposure.


COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2023

DEVELOPMENT AND PERFORMANCE
The company continues to invest in new vans, computer software and the development of its butchery department.

ON BEHALF OF THE BOARD:





W.J.A Cooper - Secretary


7th August 2024

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2023


The directors present their report with the financial statements of the company for the year ended 31st December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of food distribution.

DIVIDENDS
The total distribution of dividends for the year ended 31st December 2023 will be £ 454,000 .

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st January 2023 to the date of this report.

M.E Cooper
W.J.A Cooper

Other changes in directors holding office are as follows:

J C Craven - resigned 12th October 2023

COMPANY'S POLICY ON PAYMENT OF CREDITORS
The company makes purchases from suppliers according to the terms and conditions agreed in advance between the two parties. Payments are made to suppliers when the goods or services have been received and the terms and conditions have been met.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:



W.J.A Cooper - Secretary


7th August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COOPER FOODS (ANDOVER) LIMITED


Opinion
We have audited the financial statements of Cooper Foods (Andover) Limited (the 'company') for the year ended 31st December 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COOPER FOODS (ANDOVER) LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework applicable to the company via discussions with the directors and our previous knowledge of the company. This identified that the most significant laws and regulations relate to the form and content of the financial statements such as the UK Companies Act 2006 and Financial Reporting Standard 102. The company complies with these laws and regulations by using appropriately qualified professionals to prepare the financial statements.

As part of our planning process we assessed susceptibility of the company's financial statements to material misstatements, including how fraud might occur by making an assessment of the key risks. The key risks identified in respect of Cooper Foods (Andover) Limited are the correct valuation of stock, management override and in the current environment whether the company remains a going concern. The directors confirmed no actual, suspected or alleged cases of fraud.

Based on this assessment we designed our audit procedures to address these key risk areas with an emphasis on testing stock values used in the final stock valuation, along with the stock provisions made at the year end, and testing controls in place in respect of stock and those areas susceptible to management override including testing manual journals and making enquiries of management. Going concern was reviewed by assessing the company's available financial resources and accuracy of cash flow forecasting as well as enquiries of management.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COOPER FOODS (ANDOVER) LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




David Barr FCA (Senior Statutory Auditor)
for and on behalf of Martin and Company Audit Limited
Chartered Accountants
and Statutory Auditors
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

7th August 2024

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   

TURNOVER 14,275,680 13,728,851

Cost of sales 9,417,539 9,173,462
GROSS PROFIT 4,858,141 4,555,389

Distribution costs 2,918,703 2,727,246
Administrative expenses 747,869 702,033
3,666,572 3,429,279
1,191,569 1,126,110

Other operating income - 6,000
OPERATING PROFIT 4 1,191,569 1,132,110

Interest receivable and similar income 41,403 3,601
1,232,972 1,135,711

Interest payable and similar expenses 5 12,548 21,718
PROFIT BEFORE TAXATION 1,220,424 1,113,993

Tax on profit 6 286,507 209,300
PROFIT FOR THE FINANCIAL YEAR 933,917 904,693

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

933,917

904,693

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 466,254 455,037
466,254 455,037

CURRENT ASSETS
Stocks 10 528,880 454,450
Debtors 11 1,361,278 1,158,024
Cash at bank and in hand 1,524,911 1,359,201
3,415,069 2,971,675
CREDITORS
Amounts falling due within one year 12 1,231,643 1,189,014
NET CURRENT ASSETS 2,183,426 1,782,661
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,649,680

2,237,698

CREDITORS
Amounts falling due after more than one
year

13

(80,220

)

(152,629

)

PROVISIONS FOR LIABILITIES 16 (108,734 ) (104,260 )
NET ASSETS 2,460,726 1,980,809

CAPITAL AND RESERVES
Called up share capital 17 35,290 35,290
Share premium 25,200 25,200
Retained earnings 2,400,236 1,920,319
SHAREHOLDERS' FUNDS 2,460,726 1,980,809

The financial statements were approved by the Board of Directors and authorised for issue on 7th August 2024 and were signed on its behalf by:





M.E Cooper - Director


COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST DECEMBER 2023

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1st January 2022 35,290 1,283,626 25,200 1,344,116

Changes in equity
Dividends - (268,000 ) - (268,000 )
Total comprehensive income - 904,693 - 904,693
Balance at 31st December 2022 35,290 1,920,319 25,200 1,980,809

Changes in equity
Dividends - (454,000 ) - (454,000 )
Total comprehensive income - 933,917 - 933,917
Balance at 31st December 2023 35,290 2,400,236 25,200 2,460,726

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST DECEMBER 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,092,706 1,205,837
Interest paid - (9,769 )
Interest element of hire purchase payments
paid

(12,548

)

(11,949

)
Tax paid (167,599 ) (194,595 )
Net cash from operating activities 912,559 989,524

Cash flows from investing activities
Purchase of tangible fixed assets (247,593 ) (92,520 )
Sale of tangible fixed assets 21,800 549,350
Interest received 41,403 3,601
Net cash from investing activities (184,390 ) 460,431

Cash flows from financing activities
Loan repayments in year - (680,706 )
Capital repayments in year (101,460 ) (108,164 )
Amount introduced by directors - 8,438
Amount withdrawn by directors (6,999 ) -
Equity dividends paid (454,000 ) (268,000 )
Net cash from financing activities (562,459 ) (1,048,432 )

Increase in cash and cash equivalents 165,710 401,523
Cash and cash equivalents at beginning of
year

2

1,359,201

957,678

Cash and cash equivalents at end of year 2 1,524,911 1,359,201

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 1,220,424 1,113,993
Depreciation charges 236,377 252,806
Profit on disposal of fixed assets (21,800 ) (116,737 )
Finance costs 12,548 21,718
Finance income (41,403 ) (3,601 )
1,406,146 1,268,179
Increase in stocks (74,430 ) (45,739 )
Increase in trade and other debtors (203,255 ) (80,536 )
(Decrease)/increase in trade and other creditors (35,755 ) 63,933
Cash generated from operations 1,092,706 1,205,837

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31st December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 1,524,911 1,359,201
Year ended 31st December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 1,359,201 957,678


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 1,359,201 165,710 1,524,911
1,359,201 165,710 1,524,911
Debt
Finance leases (254,088 ) 101,460 (152,628 )
(254,088 ) 101,460 (152,628 )
Total 1,105,113 267,170 1,372,283

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Cooper Foods (Andover) 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised upon delivery of goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been amortised fully.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Long leasehold - 2% on cost
Plant and machinery - 10% - 33.33% on cost
Fixtures and fittings - 10% - 33.33% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% - 25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.


COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 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 statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Judgements and estimation uncertainty
The directors have made judgements in relation to whether there are any indicators of impairment of the company's tangible fixed assets.

Estimation uncertainty relates to tangible fixed assets and stock.

Basic financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 2,194,562 2,052,317
Social security costs 189,742 181,497
Other pension costs 106,498 124,815
2,490,802 2,358,629

The average number of employees during the year was as follows:
2023 2022

Administrative and sales 24 24
Fish and meat preparation 27 28
Transport and warehouse 35 35
86 87

2023 2022
£    £   
Directors' remuneration 90,554 74,900
Directors' pension contributions to money purchase schemes 60,000 80,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Other operating leases 91,500 45,750
Depreciation - owned assets 110,022 148,927
Depreciation - assets on hire purchase contracts 126,354 103,879
Profit on disposal of fixed assets (21,800 ) (116,737 )
Auditors' remuneration 7,000 7,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank loan interest - 8,710
Mortgage - 1,059
Hire purchase 12,548 11,949
12,548 21,718

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 282,033 166,488

Deferred tax 4,474 42,812
Tax on profit 286,507 209,300

UK corporation tax has been charged at 23.52% (2022 - 19%).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 1,220,424 1,113,993
Profit multiplied by the standard rate of corporation tax in the UK of
23.520% (2022 - 19%)

287,044

211,659

Effects of:
Expenses not deductible for tax purposes 3,773 4,702
Income not taxable for tax purposes (5,127 ) (23,415 )
Capital allowances in excess of depreciation (3,657 ) (26,458 )
Deferred tax movement 4,474 42,812

Total tax charge 286,507 209,300

On 1st April 2023 the standard rate of UK corporation tax applicable to the company changes from 19% to 25% which has resulted in an average rate of 23.52% for the year ended 31st December 2023.

7. DIVIDENDS
2023 2022
£    £   
Interim 454,000 268,000

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 16,750
AMORTISATION
At 1st January 2023
and 31st December 2023 16,750
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

9. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st January 2023 801,101 118,165 892,178 180,315 1,991,759
Additions 14,927 12,042 211,522 9,102 247,593
Disposals - - (56,250 ) - (56,250 )
At 31st December 2023 816,028 130,207 1,047,450 189,417 2,183,102
DEPRECIATION
At 1st January 2023 717,106 118,165 549,387 152,064 1,536,722
Charge for year 44,788 201 179,857 11,530 236,376
Eliminated on disposal - - (56,250 ) - (56,250 )
At 31st December 2023 761,894 118,366 672,994 163,594 1,716,848
NET BOOK VALUE
At 31st December 2023 54,134 11,841 374,456 25,823 466,254
At 31st December 2022 83,995 - 342,791 28,251 455,037

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


9. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st January 2023 514,802
Transfer to ownership (108,150 )
At 31st December 2023 406,652
DEPRECIATION
At 1st January 2023 192,620
Charge for year 126,354
Transfer to ownership (101,670 )
At 31st December 2023 217,304
NET BOOK VALUE
At 31st December 2023 189,348
At 31st December 2022 322,182

10. STOCKS
2023 2022
£    £   
Stocks 528,880 454,450

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,282,127 1,084,605
Other debtors 2,289 1,647
VAT 10,990 11,549
Prepayments 65,872 60,223
1,361,278 1,158,024

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 14) 72,408 101,459
Trade creditors 709,213 798,224
Tax 280,922 166,488
Social security and other taxes 59,427 55,657
Other creditors 14,891 12,789
Directors' loan accounts 7,363 14,362
Accrued expenses 87,419 40,035
1,231,643 1,189,014

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 14) 80,220 152,629

14. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 72,408 101,459
Between one and five years 80,220 152,629
152,628 254,088

Non-cancellable operating leases
2023 2022
£    £   
Within one year 106,068 107,496
Between one and five years 83,069 112,047
189,137 219,543

15. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 152,628 254,088

The hire purchase agreements are secured on the assets to which they relate.

16. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 108,734 104,260

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


16. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st January 2023 104,260
Provided during year 4,474
Balance at 31st December 2023 108,734

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
35,290 Ordinary £1 35,290 35,290

18. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements - 129,210

19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2023 and 31st December 2022:

2023 2022
£    £   
M.E Cooper
Balance outstanding at start of year (2,197 ) (91 )
Amounts advanced 223,681 161,188
Amounts repaid (227,000 ) (163,294 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,516 ) (2,197 )

W.J.A Cooper
Balance outstanding at start of year (12,154 ) (5,834 )
Amounts advanced 246,408 137,421
Amounts repaid (236,100 ) (143,741 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,846 ) (12,154 )

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


20. POST BALANCE SHEET EVENTS

After the year end the company entered into a loan agreement to borrow £160,000 from Barclays Bank plc. The loan is secured by way of a fixed and floating charge over the assets of the company. The company also signed a lease on an additional property after the year end.