Coopers Lettings Middlesex Limited 03586178 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the operation of a property letting agency. Digita Accounts Production Advanced 6.30.9574.0 true false true true 03586178 2023-04-01 2024-03-31 03586178 2024-03-31 03586178 bus:OrdinaryShareClass1 2024-03-31 03586178 core:CurrentFinancialInstruments 2024-03-31 03586178 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03586178 core:Non-currentFinancialInstruments 2024-03-31 03586178 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 03586178 core:Goodwill 2024-03-31 03586178 core:CostValuation 2024-03-31 03586178 core:DisposalsDecreaseInInvestments 2024-03-31 03586178 core:FurnitureFittingsToolsEquipment 2024-03-31 03586178 core:LandBuildings 2024-03-31 03586178 bus:SmallEntities 2023-04-01 2024-03-31 03586178 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03586178 bus:FilletedAccounts 2023-04-01 2024-03-31 03586178 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03586178 bus:RegisteredOffice 2023-04-01 2024-03-31 03586178 bus:Director1 2023-04-01 2024-03-31 03586178 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 03586178 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03586178 core:Goodwill 2023-04-01 2024-03-31 03586178 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 03586178 core:LandBuildings 2023-04-01 2024-03-31 03586178 core:LeaseholdImprovements 2023-04-01 2024-03-31 03586178 1 2023-04-01 2024-03-31 03586178 countries:England 2023-04-01 2024-03-31 03586178 2023-03-31 03586178 core:Goodwill 2023-03-31 03586178 core:CostValuation 2023-03-31 03586178 core:FurnitureFittingsToolsEquipment 2023-03-31 03586178 core:LandBuildings 2023-03-31 03586178 2022-04-01 2023-03-31 03586178 2023-03-31 03586178 bus:OrdinaryShareClass1 2023-03-31 03586178 core:CurrentFinancialInstruments 2023-03-31 03586178 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03586178 core:Non-currentFinancialInstruments 2023-03-31 03586178 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 03586178 core:FurnitureFittingsToolsEquipment 2023-03-31 03586178 core:LandBuildings 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Coopers Lettings Middlesex Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

Registration number: 03586178

 

Coopers Lettings Middlesex Limited

Contents

Statement of financial position

1

Notes to the Financial Statements

2 to 8

 

Coopers Lettings Middlesex Limited

(Registration number: 03586178)
Statement of financial position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

25,124

27,270

Investments

6

371,944

606,200

 

397,068

633,470

Current assets

 

Debtors

7

607,837

155,660

Cash at bank and in hand

 

204,506

32,885

 

812,343

188,545

Creditors: Amounts falling due within one year

8

(303,267)

(91,748)

Net current assets

 

509,076

96,797

Total assets less current liabilities

 

906,144

730,267

Creditors: Amounts falling due after more than one year

8

(300,937)

(322,500)

Net assets

 

605,207

407,767

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

605,107

407,667

Shareholders' funds

 

605,207

407,767

For the financial 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.

Director's 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 director acknowledges his 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.

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 director has not delivered to the registrar a copy of the Income statement.

Approved and authorised by the director on 31 July 2024
 

.........................................

Mr M Cooper
Director

 

Coopers Lettings Middlesex Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the director on 31 July 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

Coopers Lettings Middlesex Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% straight line

Leasehold improvements

Over the life of the lease

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

25% straight line

 

Coopers Lettings Middlesex Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 6).

 

Coopers Lettings Middlesex Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

10,000

10,000

At 31 March 2024

10,000

10,000

Amortisation

At 1 April 2023

10,000

10,000

At 31 March 2024

10,000

10,000

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Long leasehold property
£

Fixtures, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

36,485

20,725

57,210

At 31 March 2024

36,485

20,725

57,210

Depreciation

At 1 April 2023

9,215

20,725

29,940

Charge for the year

2,146

-

2,146

At 31 March 2024

11,361

20,725

32,086

Carrying amount

At 31 March 2024

25,124

-

25,124

At 31 March 2023

27,270

-

27,270

 

Coopers Lettings Middlesex Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

371,911

606,167

Investments in associates

33

33

371,944

606,200

Subsidiaries

£

Cost or valuation

At 1 April 2023

606,167

Disposals

(234,256)

At 31 March 2024

371,911

Provision

Carrying amount

At 31 March 2024

371,911

At 31 March 2023

606,167

Associates

£

Cost

At 1 April 2023

33

Provision

Carrying amount

At 31 March 2024

33

At 31 March 2023

33

 

Coopers Lettings Middlesex Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

7

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

595,926

144,067

Prepayments

 

4,330

4,226

Other debtors

 

7,581

7,367

 

607,837

155,660

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

48,801

45,000

Trade creditors

 

2,774

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

179,352

-

Taxation and social security

 

68,470

41,389

Accruals and deferred income

 

3,870

5,359

 

303,267

91,748

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

300,937

322,500

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       
 

Coopers Lettings Middlesex Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

300,937

322,500

Current loans and borrowings

2024
£

2023
£

Bank borrowings

48,801

45,000

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £172,125 (2023 - £185,625).

12

Parent and ultimate parent undertaking

The company's immediate parent is Coopers Lettings Limited, incorporated in England, company number 6843065.