4 4 Cooper Bros. (Gt. Oakley) Ltd 00617561 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is arable farming Digita Accounts Production Advanced 6.30.9574.0 true true 00617561 2024-01-01 2024-12-31 00617561 2024-12-31 00617561 core:CurrentFinancialInstruments 2024-12-31 00617561 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 00617561 core:LandBuildings 2024-12-31 00617561 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 00617561 core:LandBuildings core:ShortLeaseholdAssets 2024-12-31 00617561 core:OtherPropertyPlantEquipment 2024-12-31 00617561 bus:SmallEntities 2024-01-01 2024-12-31 00617561 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 00617561 bus:FilletedAccounts 2024-01-01 2024-12-31 00617561 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 00617561 bus:RegisteredOffice 2024-01-01 2024-12-31 00617561 bus:Director3 2024-01-01 2024-12-31 00617561 bus:Director4 2024-01-01 2024-12-31 00617561 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 00617561 bus:Agent1 2024-01-01 2024-12-31 00617561 core:Buildings 2024-01-01 2024-12-31 00617561 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00617561 core:LandBuildings core:ShortLeaseholdAssets 2024-01-01 2024-12-31 00617561 core:LeaseholdImprovements 2024-01-01 2024-12-31 00617561 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 00617561 core:PlantMachinery 2024-01-01 2024-12-31 00617561 6 2024-01-01 2024-12-31 00617561 countries:AllCountries 2024-01-01 2024-12-31 00617561 2023-12-31 00617561 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 00617561 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 00617561 core:OtherPropertyPlantEquipment 2023-12-31 00617561 2023-01-01 2023-12-31 00617561 2023-12-31 00617561 core:CurrentFinancialInstruments 2023-12-31 00617561 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 00617561 core:LandBuildings 2023-12-31 00617561 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 00617561 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 00617561 core:OtherPropertyPlantEquipment 2023-12-31 00617561 core:RevaluationReserve 2023-01-01 2023-12-31 00617561 core:RevaluationReserve core:LandBuildings 2023-01-01 2023-12-31 00617561 core:LandBuildings 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP

Registrar

Registration number: 00617561

Cooper Bros. (Gt. Oakley) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Cooper Bros. (Gt. Oakley) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Cooper Bros. (Gt. Oakley) Ltd

Company Information

Directors

R M Cooper

J I Cooper

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Solicitors

Thompson Smith and Puxon
Stable 6
Stable Road
Colchester
Essex
CO2 7GL

Bankers

Barclays Bank PLC
Colchester
9 High Street
Colchester
Essex
CO1 1DG

Accountants

Lambert Chapman LLP
Chartered Accountants3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Cooper Bros. (Gt. Oakley) Ltd

(Registration number: 00617561)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,652,807

5,609,057

Investment property

5

1,255,000

1,255,000

 

6,907,807

6,864,057

Current assets

 

Stocks

6

222,802

233,890

Debtors

7

135,525

255,661

Cash at bank and in hand

 

172,270

99,915

 

530,597

589,466

Creditors: Amounts falling due within one year

8

(24,172)

(66,310)

Net current assets

 

506,425

523,156

Total assets less current liabilities

 

7,414,232

7,387,213

Provisions for liabilities

(1,493,618)

(1,489,811)

Net assets

 

5,920,614

5,897,402

Capital and reserves

 

Called up share capital

829

829

Capital redemption reserve

171

171

Revaluation reserve

4,874,161

4,874,161

Retained earnings

1,045,453

1,022,241

Shareholders' funds

 

5,920,614

5,897,402

For the financial year ending 31 December 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 17 March 2025 and signed on its behalf by:
 

R M Cooper
Director

 

Cooper Bros. (Gt. Oakley) Ltd

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

1

General information

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB.

The principal place of business is: Houbridge Hall, Great Oakley, Harwich, Essex, C12 5BP.

These financial statements were authorised for issue by the Board on 17 March 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 - '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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of crops in the ordinary course of the company’s activities. Turnover is shown net of 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.

Basic Payment

Revenue arising from the Basic Payment is recognised once the qualifying period has been completed.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit or loss statement, 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 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 on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

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

 

Cooper Bros. (Gt. Oakley) Ltd

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

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Freehold property

10% Straight line method and 2% on cost or valuation (excluding land)

Short leasehold

10% Straight line method

Plant and machinery

33% reducing balance method, 25% reducing balance method and 20% reducing balance method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Stocks

Stocks have been valued by an independent professional valuer using the cost model in accordance with FRS 102. The values of harvested crops have been included at 75% of market value in accordance with BIM55410.

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 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.

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 an 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 4 (2023 - 4).

 

Cooper Bros. (Gt. Oakley) Ltd

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

4

Tangible assets

Freehold property
£

Short leasehold property
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

5,786,219

109,987

971,359

6,867,565

Additions

34,424

-

48,500

82,924

Disposals

-

-

(124,833)

(124,833)

At 31 December 2024

5,820,643

109,987

895,026

6,825,656

Depreciation

At 1 January 2024

280,219

109,923

868,366

1,258,508

Charge for the year

5,836

64

31,702

37,602

Eliminated on disposal

-

-

(123,261)

(123,261)

At 31 December 2024

286,055

109,987

776,807

1,172,849

Carrying amount

At 31 December 2024

5,534,588

-

118,219

5,652,807

At 31 December 2023

5,506,000

64

102,993

5,609,057

Included within the net book value of land and buildings above is £5,534,589 (2023 - £5,506,000) in respect of freehold land and buildings and £Nil (2023 - £64) in respect of short leasehold land and buildings.
 

Revaluation

The fair value of the company's Freehold Property was revalued on 31 December 2023 by an independent valuer. The name and qualification of the independent valuer are David Brooks BSc, FRICS, FAAC, REV.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £724,010 (2023 - £724,010).

5

Investment properties

2024
£

2023
£

At 1 January

1,255,000

-

Transfers to and from owner-occupied property

-

1,255,000

At 31 December

1,255,000

1,255,000

6

Stocks

2024
£

2023
£

Tillages

98,731

71,915

Consumables

33,171

39,170

Crops in store

90,900

122,805

222,802

233,890

 

Cooper Bros. (Gt. Oakley) Ltd

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

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

72,829

132,896

Directors loan

10

27,147

-

Other debtors

 

10,704

102,610

Prepayments

 

24,845

20,155

 

135,525

255,661

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

-

18,250

Trade creditors

 

1,817

3,317

Corporation tax

 

4,225

7,109

Taxation and social security

 

2,559

2,323

Accruals and deferred income

 

8,059

7,184

Other creditors

 

7,512

28,127

 

24,172

66,310


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £Nil (2023 - £18,250).

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

6,338,224

6,338,224

Other comprehensive income

(1,464,063)

(1,464,063)

4,874,161

4,874,161

 

Cooper Bros. (Gt. Oakley) Ltd

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

10

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Directors

27,147

-

27,147