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Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2024

for


Cooper Bros Ltd.



Cooper Bros Ltd. (Registered number: SC376259)








Contents of the Financial Statements

for the Year Ended 31 March 2024





Page




Company Information  

1




Strategic Report  

2




Report of the Directors  

4




Report of the Independent Auditors  

6




Income Statement  

9




Other Comprehensive Income  

10




Balance Sheet  

11




Statement of Changes in Equity  

12




Cash Flow Statement  

13




Notes to the Cash Flow Statement  

14




Notes to the Financial Statements

15





Cooper Bros Ltd.



Company Information

for the Year Ended 31 March 2024









DIRECTORS:

J M Cooper


R E H Cooper





REGISTERED OFFICE:

Victoria Garage


Overton Road


Newmains


Wishaw.


ML2 8HF





REGISTERED NUMBER:

SC376259 (Scotland)





SENIOR STATUTORY AUDITOR:

Kevin Gilmour CA





AUDITORS:

Ian Macfarlane Limited


Chartered Accountants


Statutory Auditors


2 Melville Street


Falkirk


FK1 1HZ



Cooper Bros Ltd. (Registered number: SC376259)



Strategic Report

for the Year Ended 31 March 2024


The directors present their strategic report for the year ended 31 March 2024.


REVIEW OF BUSINESS

The results for the financial position of the company are shown in the annexed financial statements.

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and nature of our business and is written in the context of the risks and uncertainties we face.


The company continues to reinvest for growth with ongoing significant investment in the improvement in office facilities and warehousing.


Our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole and our turnover, gross margin, operating profit and return on capital employed.

The company's turnover decreased by £663,338 to £17,196,118; however, the gross margin increased by £157,782 to £3,090,324 on a gross margin percentage for the year of 17.97%.


The company has declared an operating profit of £295,210 (2023 - £400,909).


The company workforce continues to develop with training and is assisted with the continued investment in the fabric and infrastructure of the business. The company is able to maintain a high standard of safety for both its employees and customers.


PRINCIPAL RISKS AND UNCERTAINTIES

The company considers that the economy presents challenges with the cost-of-living crisis and the ongoing global uncertainties arising from the conflict in Ukraine and the Middle East.


The company intends to deal with these challenges by continuing to maintain good relationships with key suppliers to ensure continuity of its supply chain.


In summary the Directors are confident that the business is in a good place to deliver successful performance and improved financial results over the coming years.


FINANCIAL INSTRUMENTS

The company has adopted the disclosure and presentational requirements of FRS 102. When a financial asset or liability is disclosed, initially it is measured at its fair value plus or minus transaction costs. The company regularly monitors its exposure to risks including pricing, credit, liquidity and cash flow.


The company has good controls over collection of trade debtors and has agreed payment terms with its suppliers.


The company is satisfied with the level of cash flow being maintained after taking into consideration the timing aspect of debtor recoverability and the payment of trade creditors and other business expenses.


The bank is currently satisfied with the company's financial performance and the directors do not consider there to be any risks of their facilities being withdrawn. The company's deposits are all in place with major UK financial institutions which are regulated by the Financial Conduct Authority.




Cooper Bros Ltd. (Registered number: SC376259)



Strategic Report

for the Year Ended 31 March 2024


FUTURE DEVELOPMENTS

The company intends to continue to focus on its core activities it will continue to invest in its staff and systems to ensure it is able to provide excellent levels of stock and service to its customers across the country.


ON BEHALF OF THE BOARD:






R E H Cooper - Director



18 March 2025



Cooper Bros Ltd. (Registered number: SC376259)



Report of the Directors

for the Year Ended 31 March 2024


The directors present their report with the financial statements of the company for the year ended 31 March 2024.


PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of retail and wholesale suppliers of tyres, car service & MOT station plus retail petrol outlet.

DIVIDENDS

An interim dividend of 3.80p per share on the Ordinary "A" £1 shares was paid on 31 March 2024.  The directors recommend that no final dividend be paid on these shares.


The total distribution of dividends for the year ended 31 March 2024 will be £ 80,000 .


DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.


J M Cooper

R E H Cooper


STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.



Cooper Bros Ltd. (Registered number: SC376259)



Report of the Directors

for the Year Ended 31 March 2024



AUDITORS

The auditors,  Ian Macfarlane Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.


ON BEHALF OF THE BOARD:




R E H Cooper - Director



18 March 2025


Report of the Independent Auditors to the Members of

Cooper Bros Ltd.


Opinion

We have audited the financial statements of Cooper Bros Ltd. (the 'company') for the year ended 31 March 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.


Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.


In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard.


Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-

the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.


Report of the Independent Auditors to the Members of

Cooper Bros Ltd.



Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.


We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-

the financial statements are not in agreement with the accounting records and returns; or

-

certain disclosures of directors' remuneration specified by law are not made; or

-

we have not received all the information and explanations we require for our audit.


Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.


Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion.  Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:


- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the Officers and other management (as required by auditing standards).

- We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting (including related trade union legislation) and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.

- With the exception of any known or possible non-compliance, and as required by auditing standards, our work in respect of these was limited to enquiry of the Officers.

- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

-  We addressed the risk of fraud through management override of controls, by testing the appropriateness of journal entries and other adjustments; assessing whether the  judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.


Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher      than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.


Report of the Independent Auditors to the Members of

Cooper Bros Ltd.



Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.





Kevin Gilmour CA (Senior Statutory Auditor)

for and on behalf of Ian Macfarlane Limited

Chartered Accountants

Statutory Auditors

2 Melville Street

Falkirk

FK1 1HZ


18 March 2025



Cooper Bros Ltd. (Registered number: SC376259)



Income Statement

for the Year Ended 31 March 2024



31.3.24


31.3.23


Notes

£   

£   



TURNOVER

17,196,118


17,859,456




Cost of sales

14,105,794


14,926,914



GROSS PROFIT

3,090,324


2,932,542




Administrative expenses

2,814,317


2,531,633



276,007


400,909




Other operating income

19,203


-



OPERATING PROFIT

4

295,210


400,909




Interest receivable and similar income

29,336


4,491



324,546


405,400




Interest payable and similar expenses

5

25,946


23,490



PROFIT BEFORE TAXATION

298,600


381,910




Tax on profit

6

100,882


68,022



PROFIT FOR THE FINANCIAL YEAR

197,718


313,888





Cooper Bros Ltd. (Registered number: SC376259)



Other Comprehensive Income

for the Year Ended 31 March 2024



31.3.24


31.3.23


Notes

£   

£   



PROFIT FOR THE YEAR

197,718


313,888





OTHER COMPREHENSIVE INCOME

-


-



TOTAL COMPREHENSIVE INCOME

FOR THE YEAR

197,718


313,888





Cooper Bros Ltd. (Registered number: SC376259)



Balance Sheet

31 March 2024



31.3.24

31.3.23



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

8

1,925,476


1,864,954



Investments

9

2


-



1,925,478


1,864,954




CURRENT ASSETS

Stocks

10

1,266,328


1,419,470



Debtors

11

1,757,106


1,954,651



Cash at bank

1,814,434


1,570,546



4,837,868


4,944,667



CREDITORS

Amounts falling due within one year

12

2,793,649


3,041,944



NET CURRENT ASSETS

2,044,219


1,902,723



TOTAL ASSETS LESS CURRENT

LIABILITIES

3,969,697


3,767,677




CREDITORS

Amounts falling due after more than one year

13

(119,589

)

(76,987

)



PROVISIONS FOR LIABILITIES

17

(111,906

)

(70,206

)


NET ASSETS

3,738,202


3,620,484




CAPITAL AND RESERVES

Called up share capital

18

2,104,040


2,104,040



Retained earnings

19

1,634,162


1,516,444



SHAREHOLDERS' FUNDS

3,738,202


3,620,484




The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:






R E H Cooper - Director




Cooper Bros Ltd. (Registered number: SC376259)



Statement of Changes in Equity

for the Year Ended 31 March 2024



Called up



share


Retained


Total


capital


earnings


equity

£   

£   

£   


Balance at 1 April 2022

2,104,040


1,262,556


3,366,596




Changes in equity

Dividends

-


(60,000

)

(60,000

)


Total comprehensive income

-


313,888


313,888



Balance at 31 March 2023

2,104,040


1,516,444


3,620,484




Changes in equity

Dividends

-


(80,000

)

(80,000

)


Total comprehensive income

-


197,718


197,718



Balance at 31 March 2024

2,104,040


1,634,162


3,738,202





Cooper Bros Ltd. (Registered number: SC376259)



Cash Flow Statement

for the Year Ended 31 March 2024



31.3.24


31.3.23


Notes

£   

£   


Cash flows from operating activities

Cash generated from operations

1

600,588


709,271



Interest paid

(3,201

)

(3,074

)


Interest element of hire purchase payments

paid

(22,745

)

(20,416

)


Tax paid

(71,723

)

(54,194

)


Net cash from operating activities

502,919


631,587




Cash flows from investing activities

Purchase of tangible fixed assets

(214,419

)

(82,192

)


Purchase of fixed asset investments

(2

)

-



Sale of tangible fixed assets

4,465


-



Interest received

29,336


4,491



Net cash from investing activities

(180,620

)

(77,701

)



Cash flows from financing activities

New hire purchase contracts in year

133,417


59,942



Loan repayments in year

(16,500

)

(16,500

)


Capital repayments in year

(88,060

)

(78,578

)


Amount introduced by directors

30,002


75,000



Amount withdrawn by directors

(57,270

)

(139,970

)


Equity dividends paid

(80,000

)

(60,000

)


Net cash from financing activities

(78,411

)

(160,106

)



Increase in cash and cash equivalents

243,888


393,780



Cash and cash equivalents at beginning of

year

2

1,570,546


1,176,766




Cash and cash equivalents at end of year

2

1,814,434


1,570,546





Cooper Bros Ltd. (Registered number: SC376259)



Notes to the Cash Flow Statement

for the Year Ended 31 March 2024


1.

RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS



31.3.24


31.3.23

£   

£   



Profit before taxation

298,600


381,910




Depreciation charges

145,953


102,239




Loss on disposal of fixed assets

3,480


173




Finance costs

25,946


23,490




Finance income

(29,336

)

(4,491

)


444,643


503,321




Decrease in stocks

153,142


379,837




Decrease/(increase) in trade and other debtors

197,545


(301,231

)



(Decrease)/increase in trade and other creditors

(194,742

)

127,344




Cash generated from operations

600,588


709,271




2.

CASH AND CASH EQUIVALENTS



The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:



Year ended 31 March 2024


31.3.24


1.4.23

£   

£   



Cash and cash equivalents

1,814,434


1,570,546




Year ended 31 March 2023


31.3.23


1.4.22

£   

£   



Cash and cash equivalents

1,570,546


1,176,766





3.

ANALYSIS OF CHANGES IN NET FUNDS



At 1.4.23

Cash flow

At 31.3.24

£   

£   

£   



Net cash



Cash at bank

1,570,546


243,888


1,814,434



1,570,546


243,888


1,814,434




Debt


Finance leases

(152,241

)

(45,359

)

(197,600

)



Debts falling due within 1 year

(16,500

)

16,500


-



(168,741

)

(28,859

)

(197,600

)



Total

1,401,805


215,029


1,616,834





Cooper Bros Ltd. (Registered number: SC376259)



Notes to the Financial Statements

for the Year Ended 31 March 2024


1.

STATUTORY INFORMATION



Cooper Bros Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.


2.

ACCOUNTING POLICIES



Basis of preparing the financial statements


These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are prepared in GBP sterling and are rounded to the nearest £.



Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is derived from the sale of goods and services.


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.  


Freehold property

-

not provided


Plant and machinery

-

25% on reducing balance


Fixtures and fittings

-

25% on reducing balance


Motor vehicles

-

25% on reducing balance


The directors have decided not to depreciate its Freehold Property the asset is shown at cost, no revaluations have been undertaken.


Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.


Cooper Bros Ltd. (Registered number: SC376259)



Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


2.

ACCOUNTING POLICIES - continued



Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.


Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.


Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

EMPLOYEES AND DIRECTORS


31.3.24


31.3.23

£   

£   



Wages and salaries

1,522,530


1,337,880




Social security costs

129,791


120,147




Other pension costs

28,472


31,109



1,680,793


1,489,136





The average number of employees during the year was as follows:


31.3.24


31.3.23



Administration

12


12




Operational

49


53



61


65





31.3.24


31.3.23

£   

£   



Directors' remuneration

38,233


34,355





The number of directors to whom retirement benefits were accruing was as follows:



Money purchase schemes

1


1





Cooper Bros Ltd. (Registered number: SC376259)



Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


4.

OPERATING PROFIT



The operating profit is stated after charging:



31.3.24


31.3.23

£   

£   



Depreciation - owned assets

59,095


50,071




Depreciation - assets on hire purchase contracts

86,857


52,169




Loss on disposal of fixed assets

3,480


173




Auditors' remuneration

10,000


9,980




5.

INTEREST PAYABLE AND SIMILAR EXPENSES



31.3.24


31.3.23

£   

£   



Bank loan interest

3,201


3,074




Hire purchase

15,684


12,617




Leasing

7,061


7,799



25,946


23,490




6.

TAXATION



Analysis of the tax charge


The tax charge on the profit for the year was as follows:


31.3.24


31.3.23

£   

£   



Current tax:


UK corporation tax

59,181


71,723





Deferred tax

41,701


(3,701

)



Tax on profit

100,882


68,022





Reconciliation of total tax charge included in profit and loss


The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:



31.3.24


31.3.23

£   

£   



Profit before tax

298,600


381,910




Profit multiplied by the standard rate of corporation tax in the UK of

24.920% (2023 - 19%)  

74,411


72,563





Effects of:


Expenses not deductible for tax purposes

894


178




Capital allowances in excess of depreciation

(16,124

)

(1,018

)



Deferred tax adjustment  

41,701


(3,701

)



Total tax charge

100,882


68,022





Cooper Bros Ltd. (Registered number: SC376259)



Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


7.

DIVIDENDS


31.3.24


31.3.23

£   

£   



Ordinary "A" shares of £1 each


Interim

80,000


60,000




8.

TANGIBLE FIXED ASSETS


Fixtures



Freehold


Plant and


and


Motor



property


machinery


fittings


vehicles


Totals

£   

£   

£   

£   

£   



COST


At 1 April 2023

1,483,774


11,622


361,255


408,525


2,265,176




Additions

-


499


47,738


166,182


214,419




Disposals

-


-


-


(34,781

)

(34,781

)



At 31 March 2024

1,483,774


12,121


408,993


539,926


2,444,814




DEPRECIATION


At 1 April 2023

-


9,125


243,994


147,103


400,222




Charge for year

-


749


40,289


104,914


145,952




Eliminated on disposal

-


-


-


(26,836

)

(26,836

)



At 31 March 2024

-


9,874


284,283


225,181


519,338




NET BOOK VALUE


At 31 March 2024

1,483,774


2,247


124,710


314,745


1,925,476




At 31 March 2023

1,483,774


2,497


117,261


261,422


1,864,954





Cooper Bros Ltd. (Registered number: SC376259)



Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


8.

TANGIBLE FIXED ASSETS - continued



Fixed assets, included in the above, which are held under hire purchase contracts are as follows:


Fixtures



and


Motor



fittings


vehicles


Totals

£   

£   

£   



COST


At 1 April 2023

12,144


298,614


310,758




Additions

-


159,182


159,182




Disposals

-


(18,490

)

(18,490

)



Transfer to ownership

(12,144

)

(25,286

)

(37,430

)



At 31 March 2024

-


414,020


414,020




DEPRECIATION


At 1 April 2023

8,302


147,619


155,921




Charge for year

-


86,857


86,857




Eliminated on disposal

-


(13,686

)

(13,686

)



Transfer to ownership

(8,302

)

(67,341

)

(75,643

)



At 31 March 2024

-


153,449


153,449




NET BOOK VALUE


At 31 March 2024

-


260,571


260,571




At 31 March 2023

3,842


150,995


154,837




9.

FIXED ASSET INVESTMENTS


Unlisted


investments

£   



COST


Additions

2




At 31 March 2024

2




NET BOOK VALUE


At 31 March 2024

2




10.

STOCKS


31.3.24


31.3.23

£   

£   



Goods for resale

1,266,328


1,419,470





Cooper Bros Ltd. (Registered number: SC376259)



Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.3.24


31.3.23

£   

£   



Trade debtors

1,583,498


1,851,170




Other debtors

173,608


103,481



1,757,106


1,954,651




12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.3.24


31.3.23

£   

£   



Bank loans and overdrafts (see note 14)

-


16,500




Hire purchase contracts  (see note 15)

78,011


75,254




Trade creditors

2,038,764


2,124,151




Tax

59,181


71,723




Social security and other taxes

35,635


26,063




VAT

345,445


484,763




Other creditors

27,810


2,159




Directors' current accounts

189,565


216,833




Accrued expenses

19,238


24,498



2,793,649


3,041,944




13.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR



31.3.24


31.3.23

£   

£   



Hire purchase contracts  (see note 15)

119,589


76,987




14.

LOANS



An analysis of the maturity of loans is given below:



31.3.24


31.3.23

£   

£   



Amounts falling due within one year or on demand:


Bank loans

-


16,500





Cooper Bros Ltd. (Registered number: SC376259)



Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


15.

LEASING AGREEMENTS



Minimum lease payments under hire purchase fall due as follows:



31.3.24


31.3.23


£   

£   



Gross obligations repayable:


Within one year

92,359


95,868




Between one and five years

143,833


83,884



236,192


179,752





Finance charges repayable:


Within one year

14,348


20,614




Between one and five years

24,244


6,897



38,592


27,511





Net obligations repayable:


Within one year

78,011


75,254




Between one and five years

119,589


76,987



197,600


152,241




16.

SECURED DEBTS



The following secured debts are included within creditors:



31.3.24


31.3.23

£   

£   



Bank loans

-


16,500




Hire purchase contracts

197,600


152,241



197,600


168,741





Hire Purchase Creditors are secured against the fixtures and vehicles to which the agreements relate, The value of the secured assets is shown in note 8 above.


Bank Loans are secured by a bond and floating charge over the company's assets together with standard securities over the company properties.


17.

PROVISIONS FOR LIABILITIES


31.3.24


31.3.23

£   

£   



Deferred tax

111,906


70,206





Cooper Bros Ltd. (Registered number: SC376259)



Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


17.

PROVISIONS FOR LIABILITIES - continued



Deferred



tax


£   



Balance at 1 April 2023

70,206




Accelerated capital allowances

41,700




Balance at 31 March 2024

111,906




18.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.3.24


31.3.23


value:

£   

£   



2,104,040

Ordinary "A"

£1

2,104,040


2,104,040




19.

RESERVES


Retained


earnings

£   




At 1 April 2023

1,516,444




Profit for the year

197,718




Dividends

(80,000

)



At 31 March 2024

1,634,162