Company Registration No. 05697924 (England and Wales)
DRU COOPER LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
DRU COOPER LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
DRU COOPER LIMITED
Company Registration No. 05697924
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
80,033
86,420
Investments
4
1,216
2,342
81,249
88,762
Current assets
Debtors
5
118,937
125,173
Cash at bank and in hand
10,199
3,032
129,136
128,205
Creditors: amounts falling due within one year
6
(199,651)
(196,412)
Net current liabilities
(70,515)
(68,207)
Total assets less current liabilities
10,734
20,555
Creditors: amounts falling due after more than one year
7
(10,346)
(19,657)
Net assets
388
898
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
386
896
Total equity
388
898
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
DRU COOPER LIMITED
Company Registration No. 05697924
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 24 October 2024
A J Cooper
Director
DRU COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Dru Cooper Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Rectory, Church Street, Weybridge, Surrey, KT13 8DE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from rendering of services which is recognised by reference of the stage of completion of the contract.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings
Over 15 years
Plant and equipment
Over 10 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Fixed asset investments
Fixed asset investments comprise of Cryptocurrencies and are valued within the accounts at fair value. At the balance sheet date these are considered for revaluation and accounted for at the best suited value. Due to the volatility of cryptocurrencies the director provides a value inline with market value.
1.6
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
DRU COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
DRU COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
72,561
104,110
176,671
Additions
3,250
3,250
At 31 March 2024
72,561
107,360
179,921
Depreciation and impairment
At 1 April 2023
32,585
57,666
90,251
Depreciation charged in the year
3,334
6,303
9,637
At 31 March 2024
35,919
63,969
99,888
Carrying amount
At 31 March 2024
36,642
43,391
80,033
At 31 March 2023
39,976
46,444
86,420
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
1,216
2,342
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2023
2,342
Valuation changes
(1,126)
At 31 March 2024
1,216
Carrying amount
At 31 March 2024
1,216
At 31 March 2023
2,342
DRU COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
14,436
Other debtors
104,501
125,173
118,937
125,173
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,648
10,648
Trade creditors
5,243
5,518
Taxation and social security
12,776
15,853
Other creditors
170,984
164,393
199,651
196,412
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,346
19,657
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
9
Related party transactions
At the balance sheet date the company was owed £41,107 (2023 - £45,544) by Fellowship Group Ltd, a connected company. This loan is interest free.
At the balance sheet date the company was owed £34,356, (2023 - £36,856) by Juice Man Ltd, a connected company. This loan is interest free.
At the balance sheet date the company was owed £26,741 from the director (2023 - £42,772). Interest has been charged at the official HMRC rate.