2 2 Coupe Property Limited 12129341 false 2023-07-31 2024-07-30 2024-07-30 The principal activity of the company is Buying and selling of own real estate Digita Accounts Production Advanced 6.30.9574.0 true 12129341 2023-07-31 2024-07-30 12129341 2024-07-30 12129341 core:CurrentFinancialInstruments 2024-07-30 12129341 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-30 12129341 core:FurnitureFittings 2024-07-30 12129341 bus:SmallEntities 2023-07-31 2024-07-30 12129341 bus:AuditExemptWithAccountantsReport 2023-07-31 2024-07-30 12129341 bus:FilletedAccounts 2023-07-31 2024-07-30 12129341 bus:SmallCompaniesRegimeForAccounts 2023-07-31 2024-07-30 12129341 bus:RegisteredOffice 2023-07-31 2024-07-30 12129341 bus:Director1 2023-07-31 2024-07-30 12129341 bus:Director2 2023-07-31 2024-07-30 12129341 bus:PrivateLimitedCompanyLtd 2023-07-31 2024-07-30 12129341 core:FurnitureFittings 2023-07-31 2024-07-30 12129341 countries:EnglandWales 2023-07-31 2024-07-30 12129341 2023-07-30 12129341 core:FurnitureFittings 2023-07-30 12129341 2022-07-31 2023-07-30 12129341 2023-07-30 12129341 core:CurrentFinancialInstruments 2023-07-30 12129341 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-30 12129341 core:FurnitureFittings 2023-07-30 xbrli:pure iso4217:GBP

Registration number: 12129341

Coupe Property Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 July 2024

 

Coupe Property Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Coupe Property Limited

Company Information

Directors

Mr A Bhailok

Mr A A Bhailok

Registered office

3 Cable Court
Pittman Way
Preston
PR2 9YW

 

Coupe Property Limited

(Registration number: 12129341)
Balance Sheet as at 30 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

32,502

34,247

Investment property

5

8,700,000

8,700,000

 

8,732,502

8,734,247

Current assets

 

Debtors

6

698

9,340

Cash at bank and in hand

 

712,635

843,413

 

713,333

852,753

Creditors: Amounts falling due within one year

7

(2,900,674)

(2,884,495)

Net current liabilities

 

(2,187,341)

(2,031,742)

Total assets less current liabilities

 

6,545,161

6,702,505

Provisions for liabilities

(1,264,768)

(1,275,901)

Net assets

 

5,280,393

5,426,604

Capital and reserves

 

Called up share capital

10

10

Retained earnings

5,280,383

5,426,594

Shareholders' funds

 

5,280,393

5,426,604

For the financial year ending 30 July 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.

 

Coupe Property Limited

(Registration number: 12129341)
Balance Sheet as at 30 July 2024

Approved and authorised by the Board on 29 April 2025 and signed on its behalf by:
 

.........................................
Mr A Bhailok
Director

   
     
 

Coupe Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 July 2024

1

General information

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

The address of its registered office is:
3 Cable Court
Pittman Way
Preston
PR2 9YW

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 from the rental of property in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

Tax

The tax expense for the period comprises deferred 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.


Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Coupe Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 July 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

Fixtures & fittings

25% reducing balance

Investment property

Investment property is measured at cost on initial purchase. Subsequently, investment property is measured at fair value at the reporting date with any changes recognised in profit or loss.

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.

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.

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.

 

Coupe Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 July 2024

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.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Coupe Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 July 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 31 July 2023

48,193

48,193

Additions

9,090

9,090

At 30 July 2024

57,283

57,283

Depreciation

At 31 July 2023

13,946

13,946

Charge for the year

10,835

10,835

At 30 July 2024

24,781

24,781

Carrying amount

At 30 July 2024

32,502

32,502

At 30 July 2023

34,247

34,247

5

Investment properties

2024
£

At 31 July 2023

8,700,000

At 30 July 2024

8,700,000

6

Debtors

Current

2024
£

2023
£

Other debtors

698

9,340

 

698

9,340

 

Coupe Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 July 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

1,753,718

1,754,913

Accruals and deferred income

 

1,200

1,326

Other creditors

 

1,145,756

1,128,256

 

2,900,674

2,884,495

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Director's loan account

1,753,718

1,754,913

The director's loan account is non-interest bearing and has no formal repayment terms.