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REGISTERED NUMBER: 00401786 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FRED COUPE (PRESTON) LIMITED

FRED COUPE (PRESTON) LIMITED (REGISTERED NUMBER: 00401786)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FRED COUPE (PRESTON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Michael Frederick Coupe
Peter John Coupe
John Michael Coupe
Julian Peter Coupe
Charles Frederick Coupe





SECRETARY: Michael Frederick Coupe





REGISTERED OFFICE: The Nissan Garage
Chorley Road
Walton le Dale
Preston
Lancashire
PR5 4JB





REGISTERED NUMBER: 00401786 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

FRED COUPE (PRESTON) LIMITED (REGISTERED NUMBER: 00401786)

BALANCE SHEET
31 DECEMBER 2024

31/12/24 31/12/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 32,623 15,509
Investment property 5 754,931 954,931
787,554 970,440

CURRENT ASSETS
Stocks 6 1,716,635 1,581,073
Debtors 7 201,028 134,216
Cash at bank and in hand 1,480,523 1,434,243
3,398,186 3,149,532
CREDITORS
Amounts falling due within one year 8 481,576 412,943
NET CURRENT ASSETS 2,916,610 2,736,589
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,704,164

3,707,029

PROVISIONS FOR LIABILITIES 7,776 3,414
NET ASSETS 3,696,388 3,703,615

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 9 195,951 271,093
Retained earnings 3,499,437 3,431,522
SHAREHOLDERS' FUNDS 3,696,388 3,703,615

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FRED COUPE (PRESTON) LIMITED (REGISTERED NUMBER: 00401786)

BALANCE SHEET - continued
31 DECEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 May 2025 and were signed on its behalf by:




Julian Peter Coupe - Director



John Michael Coupe - Director


FRED COUPE (PRESTON) LIMITED (REGISTERED NUMBER: 00401786)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Fred Coupe (Preston) Limited is a private company, limited by shares , registered in England and Wales. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Showroom - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on cost and 15% on reducing balance

Investment property
Investment properties are properties held by the company to earn rentals and/or for capital appreciation.

Investment properties are initially measured at cost, including transaction costs.

Subsequently investment properties are measured at fair value. Investment property valuations are based on an open market value.

Deferred tax is provided on these movements. Gains and losses arising from changes in the fair value of investment properties are included in the Statement of Income and Retained Earnings in the period in which they arise..

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.

FRED COUPE (PRESTON) LIMITED (REGISTERED NUMBER: 00401786)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

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.

Going concern
The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 30 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
Showroom machinery fittings Totals
£    £    £    £   
COST
At 1 January 2024 73,067 342,223 45,151 460,441
Additions - 22,871 - 22,871
At 31 December 2024 73,067 365,094 45,151 483,312
DEPRECIATION
At 1 January 2024 73,067 326,715 45,150 444,932
Charge for year - 5,757 - 5,757
At 31 December 2024 73,067 332,472 45,150 450,689
NET BOOK VALUE
At 31 December 2024 - 32,622 1 32,623
At 31 December 2023 - 15,508 1 15,509

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 954,931
Disposals (200,000 )
At 31 December 2024 754,931
NET BOOK VALUE
At 31 December 2024 754,931
At 31 December 2023 954,931

FRED COUPE (PRESTON) LIMITED (REGISTERED NUMBER: 00401786)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2010 221,093
Valuation in 2012 50,000
Valuation in 2024 (75,141 )
Cost 558,979
754,931

If the investment properties had not been revalued they would have been included at the following historical cost:

31/12/24 31/12/23
£    £   
Cost 803,918 803,918

The investment properties were valued on an open market basis on 31 December 2020 by the directors .

The directors considered there to be no material change in the valuation of the investment properties since 2012.

6. STOCKS
31/12/24 31/12/23
£    £   
Stocks 48,252 62,521
Finished goods 1,668,383 1,518,552
1,716,635 1,581,073

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 155,868 124,811
Other debtors 2,844 -
Prepayments and accrued income 42,316 9,405
201,028 134,216

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade creditors 304,264 191,467
Tax 57,244 70,040
Social security and other taxes 36,055 31,358
VAT 32,995 66,746
Other creditors 13,000 2
Accrued expenses 38,018 53,330
481,576 412,943

FRED COUPE (PRESTON) LIMITED (REGISTERED NUMBER: 00401786)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

9. RESERVES
Revaluation
reserve
£   
At 1 January 2024 271,093
Property disposal (75,142 )

At 31 December 2024 195,951

10. ULTIMATE CONTROLLING PARTY

The directors are the ultimate controlling party by virtue of their shareholdings.