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Registration number: 564081

Coopers of Oulton Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Coopers of Oulton Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Coopers of Oulton Limited

Company Information

Directors

Ian Ashley Cooper

Mr Philip Cooper

Julie Elizabeth Crawshaw

Registered office

Regency Garage
77-79 Aberford Road
Oulton
Leeds
West Yorkshire
LS26 8HR

Accountants

Fullertons Limited
Chartered Certified AccountantsManchester House
50A Oxford Road
Guiseley
Leeds
LS20 8AB

 

Coopers of Oulton Limited

(Registration number: 564081)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

53,545

58,355

Current assets

 

Stocks

5

767,847

746,601

Debtors

6

19,006

40,205

Cash at bank and in hand

 

167,530

62,695

 

954,383

849,501

Creditors: Amounts falling due within one year

7

(186,369)

(106,769)

Net current assets

 

768,014

742,732

Net assets

 

821,559

801,087

Capital and reserves

 

Called up share capital

8

2,000

2,000

Retained earnings

819,559

799,087

Shareholders' funds

 

821,559

801,087

For the financial 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.

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 and 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 19 February 2025 and signed on its behalf by:
 

.........................................
Mr Philip Cooper
Director

 

Coopers of Oulton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

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

The address of its registered office is:
Regency Garage
77-79 Aberford Road
Oulton
Leeds
West Yorkshire
LS26 8HR
England

These financial statements were authorised for issue by the Board on 19 February 2025.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

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.

 

Coopers of Oulton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the balance sheet 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

Land and buildings

1% straight line basis

Other property, plant and equipment

15% reducing balance basis

Motor vehicles

25% reducing balance basis

Other tangibles

10% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Coopers of Oulton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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 profit and loss account 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.

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 directors) during the year, was 15 (2023 - 16).

 

Coopers of Oulton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

33,241

6,400

334,330

373,971

Additions

-

-

119

119

At 31 May 2024

33,241

6,400

334,449

374,090

Depreciation

At 1 June 2023

7,915

6,400

301,301

315,616

Charge for the year

333

-

4,596

4,929

At 31 May 2024

8,248

6,400

305,897

320,545

Carrying amount

At 31 May 2024

24,993

-

28,552

53,545

At 31 May 2023

25,326

-

33,029

58,355

Included within the net book value of land and buildings above is £24,993 (2023 - £25,326) in respect of freehold land and buildings.
 

5

stocks

2024
£

2023
£

Other inventories

767,847

746,601

6

Debtors

Current

2024
£

2023
£

Trade debtors

3,822

21,852

Prepayments

8,905

12,073

Other debtors

6,279

6,280

 

19,006

40,205

 

Coopers of Oulton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

70,386

28,780

Trade creditors

 

66,993

40,516

Taxation and social security

 

29,303

11,696

Accruals and deferred income

 

19,687

25,777

 

186,369

106,769

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2,000

2,000

2,000

2,000

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

70,386

28,780

10

Related party transactions

Transactions with directors

2024

At 1 June 2023
£

Advances to director
£

Repayments by director
£

At 31 May 2024
£

Mr Philip Cooper

Loan account

18,780

(43,094)

85,300

60,986