Company registration number 01035004 (England and Wales)
G COOPER (WOLVERHAMPTON) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
G COOPER (WOLVERHAMPTON) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
G COOPER (WOLVERHAMPTON) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
92,568
56,273
Current assets
Debtors
4
120,714
274,681
Cash at bank and in hand
242,861
151,999
363,575
426,680
Creditors: amounts falling due within one year
5
(111,471)
(126,183)
Net current assets
252,104
300,497
Total assets less current liabilities
344,672
356,770
Provisions for liabilities
(22,555)
(10,692)
Net assets
322,117
346,078
Capital and reserves
Called up share capital
20
20
Profit and loss reserves
322,097
346,058
Total equity
322,117
346,078
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 July 2024 and are signed on its behalf by:
Stephen Morris
Director
Company Registration No. 01035004
G COOPER (WOLVERHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
G Cooper (Wolverhampton) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 26 Landywood Enterprise Park, Great Wyrley, Walsall, Staffordshire, WS6 6BD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
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.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors and directors’ loans.
Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings/Profit and Loss Account.
G COOPER (WOLVERHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
6
6
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
169,203
Additions
68,280
Disposals
(1,500)
At 31 December 2023
235,983
Depreciation and impairment
At 1 January 2023
112,930
Depreciation charged in the year
30,860
Eliminated in respect of disposals
(375)
At 31 December 2023
143,415
Carrying amount
At 31 December 2023
92,568
At 31 December 2022
56,273
G COOPER (WOLVERHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
84,112
230,032
Amounts owed by group undertakings
14,118
6,462
Other debtors
22,484
38,187
120,714
274,681
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
43,599
48,867
Corporation tax
51,345
57,933
Other taxation and social security
5,210
6,145
Other creditors
11,317
13,238
111,471
126,183
6
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
7,650
7,500
7
Parent company
The ultimate parent company is Morris Cooper (Holdings) Limited, a company registered in England and Wales (company number 10270788).
On 10th January 2017, the entire equity share capital of G. Cooper (Wolverhampton) Limited was acquired by Morris Cooper (Holdings) Limited in exchange for shares in Morris Cooper (Holdings) Limited.