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REGISTERED NUMBER: 02620383 (England and Wales)





STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

COOPER FOODS (ANDOVER) LIMITED

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

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










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Statement of Financial Position 10

Statement of Changes in Equity 11

Statement of Cash Flows 12

Notes to the Statement of Cash Flows 13

Notes to the Financial Statements 15


COOPER FOODS (ANDOVER) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: M.E Cooper
W.J.A Cooper



SECRETARY: W.J.A Cooper



REGISTERED OFFICE: Market House Hopkinson Way
Portway Industrial Estate
Andover
Hampshire
SP10 3ZE



REGISTERED NUMBER: 02620383 (England and Wales)



AUDITORS: Shaw Gibbs (Audit) Limited
Chartered Certified Accountants
Statutory Auditor
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ



BANKERS: Barclays Bank Plc
50 Jewry Street
Winchester
Hampshire
SO23 8RG

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2024


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

REVIEW OF BUSINESS
During 2024, despite challenges from inflation and cost of living pressures on end customers to the restaurant trade, business has been extremely busy and sales have once again increased. There has been significant investment in the year in fixed assets to increase operational capacity going forwards.

Turnover increased to £14,300,770 compared to £14,275,680 last year, resulting in a gross profit of £4,669,524 and a net profit before tax of £445,996.

Shareholders' Funds at the balance sheet date were £2,226,021 (2023: £2,460,726).

Operational performance has continued to be successful and future prospects are expected to be very positive.

Discontinued or new business areas
There have been no changes to the principal activities of the company.

Funding
The company operates well within its banking arrangements with Barclays Bank Plc.

People
At the year end the company employed 98 staff, all are critical to the success of the business.

PRINCIPAL RISKS AND UNCERTAINTIES
The Directors and management team meet regularly to review and discuss key risks and priorities, as well as producing monthly management accounts.

Health and safety
The company recognises that health and safety in the work place is paramount and it is therefore taken very seriously. The directors believe that they have all the necessary policies in place to safeguard the welfare of the staff.

Business continuity
The company has contingency plans and a comprehensive insurance package in place that would respond in the event of a major disaster to ensure the company's ability to continue supplying its customers and meeting its financial obligations.

Financial risk management objectives and policies
The directors aim to minimise the financial risk to the company and manage this as follows:

Interest rate risk
The company does not have a significant interest rate exposure.

Credit risk
The company monitors and checks the credit ratings of its customers closely, which together with monitoring payment performance on a regular basis, the directors consider that this policy meets the objective of managing and minimising exposure to credit risk.

Liquidity risk
The company controls cashflow by careful budgeting which ensures liquidity is maintained.

Currency risk
The company does not have a significant currency risk exposure.


COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2024

DEVELOPMENT AND PERFORMANCE
The company continues to invest in new vans, computer software and the development of its butchery department.

ON BEHALF OF THE BOARD:





W.J.A Cooper - Secretary


26th June 2025

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2024


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

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of food distribution.

DIVIDENDS
Interim dividends totalling £15.5851 per share were paid during the year. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31st December 2024 will be £ 550,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1st January 2024 to the date of this report.

M.E Cooper
W.J.A Cooper

COMPANY'S POLICY ON PAYMENT OF CREDITORS
The company makes purchases from suppliers according to the terms and conditions agreed in advance between the two parties. Payments are made to suppliers when the goods or services have been received and the terms and conditions have been met.

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.

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2024


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.

ON BEHALF OF THE BOARD:



W.J.A Cooper - Secretary


26th June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COOPER FOODS (ANDOVER) LIMITED


Opinion
We have audited the financial statements of Cooper Foods (Andover) Limited (the 'company') for the year ended 31st December 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 31st December 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 FOODS (ANDOVER) LIMITED


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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COOPER FOODS (ANDOVER) LIMITED


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:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

We obtained an understanding of the legal and regulatory framework applicable to the company via discussions with the directors and our previous knowledge of the company. This identified that the most significant laws and regulations relate to the form and content of the financial statements such as the UK Companies Act 2006 and Financial Reporting Standard 102. The company complies with these laws and regulations by using appropriately qualified professionals to prepare the financial statements.

As part of our planning process we assessed susceptibility of the company's financial statements to material misstatements, including how fraud might occur by making an assessment of the key risks. The key risks identified in respect of Cooper Foods (Andover) Limited are the correct valuation of stock, management override and in the current environment whether the company remains a going concern. The directors confirmed no actual, suspected or alleged cases of fraud.

Based on this assessment we designed our audit procedures to address these key risk areas with an emphasis on testing stock values used in the final stock valuation, along with the stock provisions made at the year end, and testing controls in place in respect of stock and those areas susceptible to management override including testing manual journals and making enquiries of management. Going concern was reviewed by assessing the company's available financial resources and accuracy of cash flow forecasting as well as enquiries of management.

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.

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.




David Barr FCA (Senior Statutory Auditor)
for and on behalf of Shaw Gibbs (Audit) Limited
Chartered Certified Accountants
Statutory Auditor
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

26th June 2025

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31ST DECEMBER 2024

2024 2023
Notes £    £    £   

TURNOVER 14,300,770 14,275,680

Cost of sales 9,631,246 9,417,539
GROSS PROFIT 4,669,524 4,858,141

Distribution costs 3,242,809 2,918,703
Administrative expenses 999,718 747,869
4,242,527 3,666,572
OPERATING PROFIT 4 426,997 1,191,569

Interest receivable and similar income 38,957 41,403
465,954 1,232,972

Interest payable and similar expenses 5 19,958 12,548
PROFIT BEFORE TAXATION 445,996 1,220,424

Tax on profit 6 130,701 286,507
PROFIT FOR THE FINANCIAL YEAR 315,295 933,917

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

315,295

933,917

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 1,140,478 466,254
1,140,478 466,254

CURRENT ASSETS
Stocks 10 654,540 528,880
Debtors 11 1,484,598 1,361,278
Cash at bank and in hand 850,084 1,524,911
2,989,222 3,415,069
CREDITORS
Amounts falling due within one year 12 1,358,588 1,231,643
NET CURRENT ASSETS 1,630,634 2,183,426
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,771,112

2,649,680

CREDITORS
Amounts falling due after more than one
year

13

(283,226

)

(80,220

)

PROVISIONS FOR LIABILITIES 17 (261,865 ) (108,734 )
NET ASSETS 2,226,021 2,460,726

CAPITAL AND RESERVES
Called up share capital 18 35,290 35,290
Share premium 25,200 25,200
Retained earnings 2,165,531 2,400,236
SHAREHOLDERS' FUNDS 2,226,021 2,460,726

The financial statements were approved by the Board of Directors and authorised for issue on 26th June 2025 and were signed on its behalf by:





M.E Cooper - Director


COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST DECEMBER 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1st January 2023 35,290 1,920,319 25,200 1,980,809

Changes in equity
Dividends - (454,000 ) - (454,000 )
Total comprehensive income - 933,917 - 933,917
Balance at 31st December 2023 35,290 2,400,236 25,200 2,460,726

Changes in equity
Dividends - (550,000 ) - (550,000 )
Total comprehensive income - 315,295 - 315,295
Balance at 31st December 2024 35,290 2,165,531 25,200 2,226,021

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST DECEMBER 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 775,465 1,092,706
Interest paid (5,401 ) -
Interest element of hire purchase payments
paid

(14,557

)

(12,548

)
Tax paid (281,647 ) (167,599 )
Net cash from operating activities 473,860 912,559

Cash flows from investing activities
Purchase of tangible fixed assets (727,128 ) (247,593 )
Sale of tangible fixed assets 15,500 21,800
Interest received 38,957 41,403
Net cash from investing activities (672,671 ) (184,390 )

Cash flows from financing activities
New loans in year 160,000 -
Loan repayments in year (17,599 ) -
Capital repayments in year (100,081 ) (101,460 )
Amount introduced by directors 31,664 -
Amount withdrawn by directors - (6,999 )
Equity dividends paid (550,000 ) (454,000 )
Net cash from financing activities (476,016 ) (562,459 )

(Decrease)/increase in cash and cash equivalents (674,827 ) 165,710
Cash and cash equivalents at beginning of
year

2

1,524,911

1,359,201

Cash and cash equivalents at end of year 2 850,084 1,524,911

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 445,996 1,220,424
Depreciation charges 292,224 236,377
Profit on disposal of fixed assets (4,529 ) (21,800 )
Finance costs 19,958 12,548
Finance income (38,957 ) (41,403 )
714,692 1,406,146
Increase in stocks (125,660 ) (74,430 )
Increase in trade and other debtors (100,165 ) (203,255 )
Increase/(decrease) in trade and other creditors 286,598 (35,755 )
Cash generated from operations 775,465 1,092,706

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31st December 2024
31.12.24 1.1.24
£    £   
Cash and cash equivalents 850,084 1,524,911
Year ended 31st December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 1,524,911 1,359,201


COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST DECEMBER 2024


3. ANALYSIS OF CHANGES IN NET FUNDS

Other
non-cash
At 1.1.24 Cash flow changes At 31.12.24
£    £    £    £   
Net cash
Cash at bank
and in hand 1,524,911 (674,827 ) 850,084
1,524,911 (674,827 ) 850,084
Debt
Finance leases (152,628 ) 100,081 (250,291 ) (302,838 )
Debts falling due
within 1 year - (40,000 ) - (40,000 )
Debts falling due
after 1 year - (102,401 ) - (102,401 )
(152,628 ) (42,320 ) (250,291 ) (445,239 )
Total 1,372,283 (717,147 ) (250,291 ) 404,845

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

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


1. STATUTORY INFORMATION

Cooper Foods (Andover) 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Revenue is recognised upon delivery of goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been amortised fully.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Long leasehold - 2% on cost
Plant and machinery - 10% - 33.33% on cost
Fixtures and fittings - 10% - 33.33% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% - 25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

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

Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.


COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Judgements and estimation uncertainty
The directors have made judgements in relation to whether there are any indicators of impairment of the company's tangible fixed assets.

Estimation uncertainty relates to tangible fixed assets and stock.

Basic financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

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


3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,423,730 2,194,562
Social security costs 215,990 189,742
Other pension costs 110,508 106,498
2,750,228 2,490,802

The average number of employees during the year was as follows:
2024 2023

Administrative and sales 26 24
Fish and meat preparation 30 27
Transport and warehouse 38 35
94 86

2024 2023
£    £   
Directors' remuneration 18,200 90,554
Directors' pension contributions to money purchase schemes 60,000 60,000

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

Money purchase schemes 2 2

£60,000 (2023: £nil) is included within accrued expenses relating to directors pension contributions.

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Other operating leases 152,503 91,500
Depreciation - owned assets 184,244 110,022
Depreciation - assets on hire purchase contracts 107,980 126,354
Profit on disposal of fixed assets (4,529 ) (21,800 )
Auditors' remuneration 10,500 7,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 5,401 -
Hire purchase 14,557 12,548
19,958 12,548

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

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


6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax (22,430 ) 282,033

Deferred tax 153,131 4,474
Tax on profit 130,701 286,507

UK corporation tax has been charged at 25% (2023 - 23.52%).

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:

2024 2023
£    £   
Profit before tax 445,996 1,220,424
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 23.520%)

111,499

287,044

Effects of:
Expenses not deductible for tax purposes 17,194 3,773
Income not taxable for tax purposes (1,132 ) (5,127 )
Capital allowances in excess of depreciation (152,582 ) (3,657 )
Adjustments to tax charge in respect of previous periods 2,591 -
Deferred tax movement 153,131 4,474

Total tax charge 130,701 286,507

On 1st April 2023 the standard rate of UK corporation tax applicable to the company changes from 19% to 25% which has resulted in an average rate of 23.52% for the year ended 31st December 2023.

7. DIVIDENDS
2024 2023
£    £   
Interim 550,000 454,000

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

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


8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2024
and 31st December 2024 16,750
AMORTISATION
At 1st January 2024
and 31st December 2024 16,750
NET BOOK VALUE
At 31st December 2024 -
At 31st December 2023 -

9. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1st January 2024 - 816,028 130,207
Additions 19,705 535,816 20,179
Disposals - - -
At 31st December 2024 19,705 1,351,844 150,386
DEPRECIATION
At 1st January 2024 - 761,894 118,366
Charge for year 1,314 86,787 6,112
Eliminated on disposal - - -
At 31st December 2024 1,314 848,681 124,478
NET BOOK VALUE
At 31st December 2024 18,391 503,163 25,908
At 31st December 2023 - 54,134 11,841

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

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


9. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2024 1,047,450 189,417 2,183,102
Additions 375,436 26,283 977,419
Disposals (161,075 ) - (161,075 )
At 31st December 2024 1,261,811 215,700 2,999,446
DEPRECIATION
At 1st January 2024 672,994 163,594 1,716,848
Charge for year 184,839 13,172 292,224
Eliminated on disposal (150,104 ) - (150,104 )
At 31st December 2024 707,729 176,766 1,858,968
NET BOOK VALUE
At 31st December 2024 554,082 38,934 1,140,478
At 31st December 2023 374,456 25,823 466,254

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st January 2024 406,652
Additions 254,336
Disposals (49,800 )
Transfer to ownership (68,446 )
At 31st December 2024 542,742
DEPRECIATION
At 1st January 2024 217,304
Charge for year 107,980
Eliminated on disposal (42,189 )
Transfer to ownership (59,960 )
At 31st December 2024 223,135
NET BOOK VALUE
At 31st December 2024 319,607
At 31st December 2023 189,348

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

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


10. STOCKS
2024 2023
£    £   
Stocks 654,540 528,880

At the year end stock is made up of £242,716 fish (2023: £205,914), £248,856 meat (2023: £191,147) and £162,968 frozen and other food items (2023: £131,819).

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,285,436 1,282,127
Other debtors 40,920 2,289
Tax 23,155 -
VAT 26,710 10,990
Prepayments 108,377 65,872
1,484,598 1,361,278

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 14) 40,000 -
Hire purchase contracts (see note 15) 122,013 72,408
Trade creditors 978,365 709,213
Tax - 280,922
Social security and other taxes 59,034 59,427
Other creditors 17,713 14,891
Directors' loan accounts 39,027 7,363
Accrued expenses 102,436 87,419
1,358,588 1,231,643

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 14) 102,401 -
Hire purchase contracts (see note 15) 180,825 80,220
283,226 80,220

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 40,000 -

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

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


14. LOANS - continued
2024 2023
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 39,952 -

Amounts falling due between two and five years:
Bank loans - 2-5 years 62,449 -

During the year the company entered into a loan agreement to borrow £160,000 from Barclays Bank plc. The loan is secured by way of a fixed and floating charge over the assets of the company. Interest is payable on the loan at 2% above base rate on the principal amount.

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 122,013 72,408
Between one and five years 180,825 80,220
302,838 152,628

Non-cancellable operating leases
2024 2023
£    £   
Within one year 284,593 93,804
Between one and five years 951,696 49,805
In more than five years 1,708,750 44,568
2,945,039 188,177

16. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 142,401 -
Hire purchase contracts 302,838 152,628
445,239 152,628

The hire purchase agreements are secured on the assets to which they relate.

The bank loan is secured by way of a fixed and floating charge over the assets of the company.

COOPER FOODS (ANDOVER) LIMITED (REGISTERED NUMBER: 02620383)

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


17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 261,865 108,734

Deferred
tax
£   
Balance at 1st January 2024 108,734
Provided during year 153,131
Balance at 31st December 2024 261,865

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
35,290 Ordinary £1 35,290 35,290

19. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 207,342 -

20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2024 and 31st December 2023:

2024 2023
£    £   
M.E Cooper
Balance outstanding at start of year (5,516 ) (2,197 )
Amounts advanced 241,778 223,681
Amounts repaid (275,000 ) (227,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (38,738 ) (5,516 )

W.J.A Cooper
Balance outstanding at start of year (1,846 ) (12,154 )
Amounts advanced 285,658 246,408
Amounts repaid (284,100 ) (236,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (288 ) (1,846 )