REGISTERED NUMBER: |
Coppercrest Investments Limited |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
REGISTERED NUMBER: |
Coppercrest Investments Limited |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
Coppercrest Investments Limited (Registered number: 02144481) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Coppercrest Investments Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Atlantic House |
8 Bell Lane |
Bellbrook Industrial Estate |
Uckfield |
East Sussex |
TN22 1QL |
Coppercrest Investments Limited (Registered number: 02144481) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Fair value reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 Investments Limited (Registered number: 02144481) |
Balance Sheet - continued |
31 December 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Coppercrest Investments Limited (Registered number: 02144481) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Coppercrest Investments Limited is a |
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. |
Turnover |
Rental income is recognised on an accruals basis in accordance with the terms of the lease agreements. |
Other income from lease extensions is recognised on the grant of the lease extension and profits and losses arising on the sale of an investment property are recognised upon the unconditional sale of the property. |
Tangible fixed assets |
Fixtures and fittings | - |
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 Investments Limited (Registered number: 02144481) |
Notes to the Financial Statements - continued |
for the Year Ended 31 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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Coppercrest Investments Limited (Registered number: 02144481) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2023 |
Additions |
Revaluations | 2,039 |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
If investment properties had not been revalued they would have been included at historical cost of £657,901 (2022: £637,901). |
Investment properties were valued at fair value on 31 December 2023 by the director Mr D E Carpenter. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1.00 | 100 | 100 |
Coppercrest Investments Limited (Registered number: 02144481) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 January 2023 |
Transfer of fair value gain | 2,039 |
Transfer of deferred tax on fair value adjustments |
13,314 |
At 31 December 2023 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year the company made advances to the directors totalling £225,500 (2022: £203,000) and was repaid £234,275 (2022: £204,041). In addition, the company charged interest at 2.5% on any overdrawn loan balance which amounted to £1,695 for the year (2022: £1,613). At the balance sheet date the company owed the directors £11,256 (2022: £4,176). The loan is unsecured and repayable on demand. |
11. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £70,000 (2022 - £70,000) were paid to the directors . |