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Registered Number: 04790373


 

 

 


Abridged Accounts

for the year ended 30 June 2024

for

IVOR COPELAND LTD

You consider that the company is exempt from an audit for the year ended 30 June 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.



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

RK Partners Limited

The Old Surgery
19 Mengham Lane
Hayling Island
Hampshire
PO11 9JT
27 January 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 26,713    7,485 
26,713    7,485 
Current assets      
Stocks 7,000    6,269 
Debtors 880    33,930 
Cash at bank and in hand 5,438    14,722 
13,318    54,921 
Creditors: amount falling due within one year (16,871)   (18,584)
Net current assets (3,553)   36,337 
 
Total assets less current liabilities 23,160    43,822 
Net assets 23,160    43,822 
 

Capital and reserves
     
Called up share capital 3    3 
Profit and loss account 23,157    43,819 
Shareholders' funds 23,160    43,822 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 27 January 2025 and were signed by:


-------------------------------
Ivor Richard COPELAND
Director
2
General Information
Ivor Copeland Ltd is a private company, limited by shares, registered in , registration number 04790373, registration address The Old Surgery, Hayling Island, Hampshire, Hampshire, PO11 9JT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of services supplied by the company, 
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Land and Buildings 20% Straight Line
Plant and Machinery 20% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Fixtures and Fittings   Motor Vehicles   Total
  £   £   £   £   £
At 01 July 2023 8,758    5,468    7,013    15,585    36,824 
Additions       26,490    26,490 
Disposals        
At 30 June 2024 8,758    5,468    7,013    42,075    63,314 
Depreciation
At 01 July 2023 3,152    5,345    6,921    13,921    29,339 
Charge for year 175    25    23    7,039    7,262 
On disposals        
At 30 June 2024 3,327    5,370    6,944    20,960    36,601 
Net book values
Closing balance as at 30 June 2024 5,431    98    69    21,115    26,713 
Opening balance as at 01 July 2023 5,606    123    92    1,664    7,485 

The net book value of Motor Vehicles includes £ 21,115 (2023 £1,664) in respect of assets leased under finance leases or hire purchase contracts.

3