8 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04311866 2023-04-01 2024-03-31 04311866 2024-03-31 04311866 2023-03-31 04311866 2022-04-01 2023-03-31 04311866 2023-03-31 04311866 2022-03-31 04311866 core:PlantMachinery 2023-04-01 2024-03-31 04311866 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 04311866 bus:RegisteredOffice 2023-04-01 2024-03-31 04311866 bus:Director1 2023-04-01 2024-03-31 04311866 bus:Director2 2023-04-01 2024-03-31 04311866 core:NetGoodwill 2024-03-31 04311866 core:PlantMachinery 2023-03-31 04311866 core:FurnitureFittingsToolsEquipment 2023-03-31 04311866 core:PlantMachinery 2024-03-31 04311866 core:FurnitureFittingsToolsEquipment 2024-03-31 04311866 core:WithinOneYear 2024-03-31 04311866 core:WithinOneYear 2023-03-31 04311866 core:ShareCapital 2024-03-31 04311866 core:ShareCapital 2023-03-31 04311866 core:RetainedEarningsAccumulatedLosses 2024-03-31 04311866 core:RetainedEarningsAccumulatedLosses 2023-03-31 04311866 core:NetGoodwill 2023-03-31 04311866 core:PlantMachinery 2023-03-31 04311866 core:FurnitureFittingsToolsEquipment 2023-03-31 04311866 bus:SmallEntities 2023-04-01 2024-03-31 04311866 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04311866 bus:FullAccounts 2023-04-01 2024-03-31 04311866 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04311866 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31
Company registration number: 04311866
COPPINS OF CORSHAM LIMITED
Unaudited filleted financial statements
31 March 2024
COPPINS OF CORSHAM LIMITED
Directors and other information
Directors John Coppin
Daisy Coppin
Company number 04311866
Registered office 1 Church Street
Corsham
Wiltshire
COPPINS OF CORSHAM LIMITED
Directors report
Year ended 31 March 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2024.
Directors
The directors who served the company during the year were as follows:
John Coppin
Daisy Coppin
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 05 September 2024 and signed on behalf of the board by:
Daisy Coppin
Director
COPPINS OF CORSHAM LIMITED
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 16,756 19,298
_______ _______
16,756 19,298
Current assets
Stocks 834,653 843,919
Debtors 7 20,135 13,351
Cash at bank and in hand 60,686 46,118
_______ _______
915,474 903,388
Creditors: amounts falling due
within one year 8 ( 134,879) ( 146,007)
_______ _______
Net current assets 780,595 757,381
_______ _______
Total assets less current liabilities 797,351 776,679
Provisions for liabilities ( 3,184) ( 3,667)
_______ _______
Net assets 794,167 773,012
_______ _______
Capital and reserves
Called up share capital 1,003 1,003
Profit and loss account 793,164 772,009
_______ _______
Shareholders funds 794,167 773,012
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 September 2024 , and are signed on behalf of the board by:
Daisy Coppin John Coppin
Director Director
Company registration number: 04311866
COPPINS OF CORSHAM LIMITED
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Coppins of Corsham Limited, 1 Church Street, Corsham, Wiltshire.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in statement of comprehensive income.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25.00 % reducing balance
Computers & EPOS systems - 33.33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the employee related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2023 and 31 March 2024 225,816 225,816
_______ _______
Amortisation
At 1 April 2023 and 31 March 2024 225,816 225,816
_______ _______
Carrying amount
At 31 March 2024 - -
_______ _______
At 31 March 2023 - -
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 April 2023 92,987 49,529 142,516
Additions 1,772 1,952 3,724
_______ _______ _______
At 31 March 2024 94,759 51,481 146,240
_______ _______ _______
Depreciation
At 1 April 2023 80,071 43,147 123,218
Charge for the year 3,814 2,452 6,266
_______ _______ _______
At 31 March 2024 83,885 45,599 129,484
_______ _______ _______
Carrying amount
At 31 March 2024 10,874 5,882 16,756
_______ _______ _______
At 31 March 2023 12,916 6,382 19,298
_______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 13,153 -
Other debtors 6,982 13,351
_______ _______
20,135 13,351
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 6,096 6,426
Trade creditors 42,827 54,354
Taxes 78,347 70,625
Other creditors 7,609 14,602
_______ _______
134,879 146,007
_______ _______