Company Registration No. SC162762 (Scotland)
J & D Cowper Ltd
Filleted accounts
for the year ended 31 May 2024
J & D Cowper Ltd
Filleted accounts
Contents
J & D Cowper Ltd
Company Information
for the year ended 31 May 2024
Directors
Taylor Cowper
Kathleen Cowper
Michael Cowper
Iain Cowper
Company Number
SC162762 (Scotland)
Registered Office
Airfield Road
Deephaven Industrial Estate
Evanton
Ross-Shire
IV16 9XJ
Accountants
Cameron Consulting (Scotland) Ltd
7 Poles Road
Dornoch
IV25 3HP
J & D Cowper Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
2,900,582
2,980,566
Investment property
-
163,579
Debtors
1,316,588
1,249,659
Cash at bank and in hand
68,079
3,528
Creditors: amounts falling due within one year
(2,031,028)
(2,109,086)
Net current liabilities
(626,859)
(835,195)
Total assets less current liabilities
2,273,723
2,308,950
Creditors: amounts falling due after more than one year
(861,760)
(893,926)
Provisions for liabilities
Deferred tax
(244,214)
(205,786)
Net assets
1,167,749
1,209,238
Called up share capital
74,883
74,883
Revaluation reserve
173,576
173,576
Profit and loss account
919,290
960,779
Shareholders' funds
1,167,749
1,209,238
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by
Taylor Cowper
Director
Company Registration No. SC162762
J & D Cowper Ltd
Notes to the Accounts
for the year ended 31 May 2024
J & D Cowper Ltd is a private company, limited by shares, registered in Scotland, registration number SC162762. The registered office is Airfield Road, Deephaven Industrial Estate, Evanton, Ross-Shire, IV16 9XJ.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
over 20 years
Plant & machinery
10% - 30% reducing balance
Motor vehicles
20% reducing balance
Fixtures & fittings
over 3 -10 years
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
J & D Cowper Ltd
Notes to the Accounts
for the year ended 31 May 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2023
1,360,246
3,979,641
66,812
53,817
5,460,516
Additions
-
700,453
-
-
700,453
Disposals
-
(303,882)
-
(3,950)
(307,832)
At 31 May 2024
1,360,246
4,376,212
66,812
49,867
5,853,137
At 1 June 2023
556,134
1,845,912
27,549
50,355
2,479,950
Charge for the year
45,449
679,108
10,551
1,111
736,219
On disposals
-
(259,664)
-
(3,950)
(263,614)
At 31 May 2024
601,583
2,265,356
38,100
47,516
2,952,555
At 31 May 2024
758,663
2,110,856
28,712
2,351
2,900,582
At 31 May 2023
804,112
2,133,729
39,263
3,462
2,980,566
Fair value at 1 June 2023
163,579
Amounts falling due within one year
Trade debtors
1,170,722
1,165,151
Accrued income and prepayments
73,851
84,508
J & D Cowper Ltd
Notes to the Accounts
for the year ended 31 May 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
644,975
700,177
Obligations under finance leases and hire purchase contracts
627,296
672,971
Trade creditors
366,980
321,427
Taxes and social security
131,365
115,580
Other creditors
260,412
298,931
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Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
744,494
741,928
Deferred income
46,752
51,673
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Average number of employees
During the year the average number of employees was 60 (2023: 52).