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Company No: 02086367 (England and Wales)

PETER COOPER LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

PETER COOPER LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

PETER COOPER LIMITED

BALANCE SHEET

As at 31 December 2024
PETER COOPER LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 259,811 146,295
259,811 146,295
Current assets
Stocks 11,892 7,680
Debtors 5 159,063 220,810
Cash at bank and in hand 380,555 413,129
551,510 641,619
Creditors: amounts falling due within one year 6 ( 147,228) ( 150,441)
Net current assets 404,282 491,178
Total assets less current liabilities 664,093 637,473
Creditors: amounts falling due after more than one year 7 ( 5,402) ( 18,614)
Provision for liabilities ( 64,548) ( 27,469)
Net assets 594,143 591,390
Capital and reserves
Called-up share capital 100 100
Profit and loss account 594,043 591,290
Total shareholders' funds 594,143 591,390

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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Peter Cooper Limited (registered number: 02086367) were approved and authorised for issue by the Board of Directors on 04 April 2025. They were signed on its behalf by:

L J Cooper
Director
PETER COOPER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
PETER COOPER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Peter Cooper Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 29 Gordleton Park, Sway Road, Lymington, SO41 8JD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of removals and storage services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when the provision of services is carried out.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 19 17

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2024 100,000 100,000
At 31 December 2024 100,000 100,000
Accumulated amortisation
At 01 January 2024 100,000 100,000
At 31 December 2024 100,000 100,000
Net book value
At 31 December 2024 0 0
At 31 December 2023 0 0

4. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 January 2024 165,685 523,950 689,635
Additions 2,226 132,070 134,296
Disposals 0 ( 97,980) ( 97,980)
At 31 December 2024 167,911 558,040 725,951
Accumulated depreciation
At 01 January 2024 141,854 401,486 543,340
Charge for the financial year 4,803 57,215 62,018
Disposals 0 ( 79,884) ( 79,884)
Adjustment (see note) 0 ( 59,334) ( 59,334)
At 31 December 2024 146,657 319,483 466,140
Net book value
At 31 December 2024 21,254 238,557 259,811
At 31 December 2023 23,831 122,464 146,295

At the year end the directors' reviewed the market value of the motor vehicles and the net book value has been adjusted to bring in line with these figures.

5. Debtors

2024 2023
£ £
Trade debtors 112,551 127,104
Corporation tax 7,803 0
Other debtors 38,709 93,706
159,063 220,810

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,372 10,117
Trade creditors 60,940 46,111
Corporation tax 0 7,402
Other taxation and social security 56,850 52,972
Obligations under finance leases and hire purchase contracts 2,840 15,330
Other creditors 16,226 18,509
147,228 150,441

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 5,402 15,774
Obligations under finance leases and hire purchase contracts 0 2,840
5,402 18,614

There are no amounts included above in respect of which any security has been given by the small entity.

8. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Other 95,150 95,150