Registrar
Registration number:
Cooper Bros. (Gt. Oakley) Ltd
for the Year Ended 31 December 2024
Cooper Bros. (Gt. Oakley) Ltd
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Cooper Bros. (Gt. Oakley) Ltd
Company Information
Directors |
R M Cooper J I Cooper |
Registered office |
|
Solicitors |
|
Bankers |
|
Accountants |
|
Cooper Bros. (Gt. Oakley) Ltd
(Registration number: 00617561)
Balance Sheet as at 31 December 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Investment property |
|
|
|
|
|
||
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Director
Cooper Bros. (Gt. Oakley) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
General information |
The address of its registered office is:
The principal place of business is: Houbridge Hall, Great Oakley, Harwich, Essex, C12 5BP.
These financial statements were authorised for issue by the
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
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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Cooper Bros. (Gt. Oakley) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Tangible assets |
Freehold property |
Short leasehold property |
Plant and machinery |
Total |
|
Cost or valuation |
||||
At 1 January 2024 |
|
|
|
|
Additions |
|
- |
|
|
Disposals |
- |
- |
( |
( |
At 31 December 2024 |
|
|
|
|
Depreciation |
||||
At 1 January 2024 |
|
|
|
|
Charge for the year |
|
|
|
|
Eliminated on disposal |
- |
- |
( |
( |
At 31 December 2024 |
|
|
|
|
Carrying amount |
||||
At 31 December 2024 |
|
- |
|
|
At 31 December 2023 |
|
|
|
|
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
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £
Investment properties |
2024 |
2023 |
|
At 1 January |
1,255,000 |
- |
Transfers to and from owner-occupied property |
- |
|
At 31 December |
1,255,000 |
1,255,000 |
Stocks |
2024 |
2023 |
|
Tillages |
|
|
Consumables |
|
|
Crops in store |
|
|
|
|
Cooper Bros. (Gt. Oakley) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Debtors |
Note |
2024 |
2023 |
|
Trade debtors |
|
|
|
Directors loan |
|
- |
|
Other debtors |
|
|
|
Prepayments |
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
|
Due within one year |
|||
Loans and borrowings |
- |
|
|
Trade creditors |
|
|
|
Corporation tax |
4,225 |
7,109 |
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £Nil (2023 - £18,250).
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 |
|
|
Other comprehensive income |
(1,464,063) |
(1,464,063) |
|
|
|
|
Cooper Bros. (Gt. Oakley) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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 |
|