COPPER ASHTON HOLDINGS LIMITED


Directors	VAUGHAN, David Robin
	VAUGHAN, Susanne Elizabeth


Registered Address	119 Weston Road
	Bristol
	BS41 9AE


Registered Number	14325857 (England and Wales)

Notes to the Financial Statements
for the year ended 30 September 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The previous period's accounts were prepared in accordance with FRS 105, the financial reporting standard applicable to the micro-entitles regime. The directors have adopted the more comprehensive provisions of FRS 102 (as applied to small entities by section 1A of the standard) in order to show a true and fair view of the performance of the company for the current year. There were no changes necessary to the prior period as a result of the change in policy.

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

The previous period's accounts were prepared in accordance with FRS 105, the financial reporting standard applicable to the micro-entitles regime. The directors have adopted the more comprehensive provisions of FRS 102 (as applied to small entities by section 1A of the standard) in order to show a true and fair view of the performance of the company for the current year. There were no changes necessary to the prior period as a result of the change in policy.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable for ground rents provided in the normal course of business.

	Revenue from rendering of services
	Revenue recognition from title splits :- Income from title splits is recognised when the title has been successfully split and registered with Land Registry, a binding sales agreement has been reached with the buyer and the risks and rewards of ownership are transferred to the buyer. The title split profit is measured based on the agreed selling price of the split properties as per the sales agreement, less the costs of acquisition apportioned amoungst the split properties. The costs directly attributable to the title splitting process such as legal fees, bridging loan interest etc, are matched to the project concerned and accrued where necessary to accurately record the title split profit in the correct period. Such costs are included within the relevant expense heading.

Revenue from rendering of services

Revenue recognition from title splits :- Income from title splits is recognised when the title has been successfully split and registered with Land Registry, a binding sales agreement has been reached with the buyer and the risks and rewards of ownership are transferred to the buyer.

The title split profit is measured based on the agreed selling price of the split properties as per the sales agreement, less the costs of acquisition apportioned amoungst the split properties. The costs directly attributable to the title splitting process such as legal fees, bridging loan interest etc, are matched to the project concerned and accrued where necessary to accurately record the title split profit in the correct period. Such costs are included within the relevant expense heading.

	Interest income
	Interest income is recognised using the effective interest rate method.

	Finance costs
	Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.

	Current taxation
	Current tax, where applicable, is recognised in profit or loss. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax, where applicable, is recognised in profit or loss.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. Where an arrangement with a subsidiary constitues a financing transaction, the transaction is measured at the present value of future receipts (including interest payments and repayment of the principal) discounted at a market rate of interest for a similar debt instrument, adjusted for transaction costs. A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.  The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. 

Where an arrangement with a subsidiary constitues a financing transaction, the transaction is measured at the present value of future receipts (including interest payments and repayment of the principal) discounted at a market rate of interest for a similar debt instrument, adjusted for transaction costs.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

	Investment property
	Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in the profit and loss account for the period and transferred to the fair value reserve at the reporting date.

	Financial instruments
	A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Where an arrangement constitues a financing transaction, the transaction is measured at the present value of future receipts discounted at a market rate of interest.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

Where an arrangement constitues a financing transaction, the transaction is measured at the present value of future receipts discounted at a market rate of interest.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	0		0

3.	Prior period adjustment
	Included in other creditors amounts due within one year, in the comparative figures, is £597,600 which was disclosed as due after one year in the previous period's accounts. These are debts due to the directors for which there is no formal agreement in place.

4.	Investment property
	The fair value of freehold properties at the year end is based upon recent professional valuations. The directors consider these valuations to be reflective of the market value at the year end.


		£
	Additions	1,135,799
	Disposals	(1,093,027)
	Fair value adjustments	10,228
	At 30 September 24	53,000

5.	Fixed asset investments
	Fixed asset investments are made up of investemnts in the share capital of: Copper Ashton Properties Limited - £100 (2023 - £100 Copper Ashton Developments Limited - £1 (2023 - £1) The additional investment of £31,495 in Copper Ashton Properties Limited during the year arises as a result of a financing transaction. A loan was made interest free to the subsidiary company with a repayment date beyond normal commercial terms. This was due to the requirements of a lender to the subsidiary company.

Fixed asset investments

Fixed asset investments are made up of investemnts in the share capital of:

Copper Ashton Properties Limited - £100 (2023 - £100
Copper Ashton Developments Limited - £1 (2023 - £1)

The additional investment of £31,495 in Copper Ashton Properties Limited during the year arises as a result of a financing transaction. A loan was made interest free to the subsidiary company with a repayment date beyond normal commercial terms. This was due to the requirements of a lender to the subsidiary company.

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 October 23	101	101
Additions	31,495	31,495
At 30 September 24	31,596	31,596
Net book value
At 30 September 24	31,596	31,596
At 30 September 23	101	101

	Notes
	¹Investments in group undertakings and participating interests

6.	Debtors: amounts due within one year

	2024	2023
	£	£
Amounts owed by group undertakings	492,449	681,000
Total	492,449	681,000

7.	Debtors: amounts due after one year

	2024	2023
	£	£
Amounts owed by group undertakings	488,255	-
Total	488,255	-

8.	Creditors: amounts due within one year

	2024	2023
	£	£
Other creditors	848,893	699,093
Accrued liabilities and deferred income	15,488	101
Total	864,381	699,194


	Included in other creditors are amounts owed to the directors of the company of £782,560 (2023 - £662,600). There are no formal repayment terms. The figures for the prior period have been adjusted. Please refer to note 7 for further details.

9.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	32,121	-
Total	32,121	-

10.	Fair value reserve
	The fair value reserve relates to the revalution of freeholds held for investment, net of deferred tax.


		£
	Transferred in period	7,671
	At 30 September 24	7,671

11.	Related party transactions
	The company has taken advantage of exemption, under the terms of FRS 102 the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entitles by section 1A of the standard), not to disclose related party transactions with wholly owned subsidiaries within the group. The company has taken advantage of exemption, under the terms of FRS 102 the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entitles by section 1A of the standard) not to disclose related party transactions with directors on the basis that all transactions have been conducted under normal market conditions.

11.

Related party transactions

The company has taken advantage of exemption, under the terms of FRS 102 the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entitles by section 1A of the standard), not to disclose related party transactions with wholly owned subsidiaries within the group.

The company has taken advantage of exemption, under the terms of FRS 102 the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entitles by section 1A of the standard) not to disclose related party transactions with directors on the basis that all transactions have been conducted under normal market conditions.

12.	Controlling party
	The company is controlled by Mr D R Vaughan.

	Notes	2024		2023
		£	£	£	£
Fixed assets
Investments	5		31,596		101
Investment property	4		53,000		-
			84,596		101
Current assets
Debtors	6,7	980,704		681,000
Cash at bank and on hand		7,834		9,157
		988,538		690,157
Creditors amounts falling due within one year	8	(864,381)		(699,194)
Net current assets (liabilities)			124,157		(9,037)
Total assets less current liabilities			208,753		(8,936)
Provisions for liabilities	9		(32,121)		-
Net assets			176,632		(8,936)
Capital and reserves
Called up share capital			200		200
Other reserves			237,900		-
Profit and loss account			(61,468)		(9,136)
Shareholders' funds	10		176,632		(8,936)