Copperfields Investments Limited 08182218 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of an investment company. Digita Accounts Production Advanced 6.30.9574.0 true 08182218 2023-01-01 2023-12-31 08182218 2023-12-31 08182218 bus:OrdinaryShareClass1 2023-12-31 08182218 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-12-31 08182218 core:CurrentFinancialInstruments 2023-12-31 08182218 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08182218 1 2023-12-31 08182218 bus:SmallEntities 2023-01-01 2023-12-31 08182218 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08182218 bus:FilletedAccounts 2023-01-01 2023-12-31 08182218 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08182218 bus:RegisteredOffice 2023-01-01 2023-12-31 08182218 bus:Director1 2023-01-01 2023-12-31 08182218 bus:Director2 2023-01-01 2023-12-31 08182218 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08182218 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08182218 countries:EnglandWales 2023-01-01 2023-12-31 08182218 1 2023-01-01 2023-12-31 08182218 1 2022-12-31 08182218 2022-01-01 2022-12-31 08182218 2022-12-31 08182218 bus:OrdinaryShareClass1 2022-12-31 08182218 core:CurrentFinancialInstruments 2022-12-31 08182218 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08182218

Copperfields Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Copperfields Investments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Copperfields Investments Limited

Company Information

Directors

Mr H W Foster

Mrs J Foster

Registered office

6 Copperfields
Tunbridge Wells
Kent
TN2 5HZ

 

Copperfields Investments Limited

(Registration number: 08182218)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Other financial assets

4

32,675

40,675

Current assets

 

Debtors

5

747,192

285,814

Cash at bank and in hand

 

995,659

1,752,481

 

1,742,851

2,038,295

Creditors: Amounts falling due within one year

6

(12,152)

(159,752)

Net current assets

 

1,730,699

1,878,543

Net assets

 

1,763,374

1,919,218

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

1,763,274

1,919,118

Shareholders' funds

 

1,763,374

1,919,218

For the financial year ending 31 December 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Copperfields Investments Limited

(Registration number: 08182218)
Balance Sheet as at 31 December 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 October 2024 and signed on its behalf by:
 

.........................................
Mr H W Foster
Director

 

Copperfields Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6 Copperfields
Tunbridge Wells
Kent
TN2 5HZ

These financial statements were authorised for issue by the Board on 3 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Finance income and costs policy

Interest income is recognised in the profit and loss account using the effective interest method.
Finance costs are charged to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Copperfields Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Copperfields Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Financial instruments

Classification
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
 Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
 Impairment
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 the profit and loss account.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the
contract.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2). The directors were not remunerated.

 

Copperfields Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Fixed asset investments

Other investments at cost less impairment
£

Total
£

Other investments

Cost or valuation

At 1 January 2023

122,311

122,311

Additions

6,532

6,532

At 31 December 2023

128,843

128,843

Impairment

At 1 January 2023

81,636

81,636

Provision for impairment

14,532

14,532

At 31 December 2023

96,168

96,168

Carrying amount

At 31 December 2023

32,675

32,675

5

Debtors

Current

2023
£

2022
£

Other debtors

747,192

285,814

 

747,192

285,814

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

12,150

9,750

Other creditors

2

150,002

12,152

159,752

 

Copperfields Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Advances to director
£

At 31 December 2023
£

Loan repayable on demand, no interest

-

46,382

46,382