IRIS Accounts Production v25.2.0.378 09313826 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh093138262023-12-31093138262024-12-31093138262024-01-012024-12-31093138262022-12-31093138262023-01-012023-12-31093138262023-12-3109313826ns15:EnglandWales2024-01-012024-12-3109313826ns14:PoundSterling2024-01-012024-12-3109313826ns10:Director12024-01-012024-12-3109313826ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3109313826ns10:SmallEntities2024-01-012024-12-3109313826ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3109313826ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3109313826ns10:FullAccounts2024-01-012024-12-3109313826ns10:Director22024-01-012024-12-3109313826ns10:RegisteredOffice2024-01-012024-12-3109313826ns5:CurrentFinancialInstruments2024-12-3109313826ns5:CurrentFinancialInstruments2023-12-3109313826ns5:ShareCapital2024-12-3109313826ns5:ShareCapital2023-12-3109313826ns5:RetainedEarningsAccumulatedLosses2024-12-3109313826ns5:RetainedEarningsAccumulatedLosses2023-12-3109313826ns5:OwnedAssets2024-01-012024-12-3109313826ns5:OwnedAssets2023-01-012023-12-3109313826ns5:PlantMachinery2023-12-3109313826ns5:PlantMachinery2024-01-012024-12-3109313826ns5:PlantMachinery2024-12-3109313826ns5:PlantMachinery2023-12-3109313826ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3109313826ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-31
REGISTERED NUMBER: 09313826 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

COPE ALLOYS LTD

COPE ALLOYS LTD (REGISTERED NUMBER: 09313826)

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










Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


COPE ALLOYS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Ms C Carrisi
D Pescini





REGISTERED OFFICE: 81c St. Stephen’s Avenue
London
United Kingdom
W12 8JA





REGISTERED NUMBER: 09313826 (England and Wales)





ACCOUNTANTS: B&P Tax Legal Finance LLP
38 Craven Street
London
WC2N 5NG

COPE ALLOYS LTD (REGISTERED NUMBER: 09313826)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024


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

PRINCIPAL ACTIVITIES
The principal activities of the company in the year under review were those of wholesale of metals and metal ores and activities of head office.

DIVIDENDS
Total Interim Dividends of £135,000 have been paid during the year 2024 (2023: £65,000).

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

Ms C Carrisi
D Pescini

ON BEHALF OF THE BOARD:





D Pescini - Director


8 August 2025

COPE ALLOYS LTD (REGISTERED NUMBER: 09313826)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £    £   

TURNOVER 1,252,776 1,506,509

Cost of sales (840,023 ) (1,148,927 )
GROSS PROFIT 412,753 357,582

Administrative expenses (238,305 ) (161,966 )
174,448 195,616

Other operating income - 74
OPERATING PROFIT 4 174,448 195,690


Interest payable and similar expenses - (2 )
PROFIT BEFORE TAXATION 174,448 195,688

Tax on profit (45,386 ) (40,656 )
PROFIT FOR THE FINANCIAL YEAR 129,062 155,032

COPE ALLOYS LTD (REGISTERED NUMBER: 09313826)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 18,445 23,042
Investments 6 12,500 15,000
30,945 38,042

CURRENT ASSETS
Debtors 7 437,933 444,311
Cash at bank 227,309 264,916
665,242 709,227
CREDITORS
Amounts falling due within one year 8 (97,955 ) (143,099 )
NET CURRENT ASSETS 567,287 566,128
TOTAL ASSETS LESS CURRENT
LIABILITIES

598,232

604,170

CAPITAL AND RESERVES
Called up share capital 12,700 12,700
Retained earnings 585,532 591,470
598,232 604,170

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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2025 and were signed on its behalf by:




D Pescini - Director


COPE ALLOYS LTD (REGISTERED NUMBER: 09313826)

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


1. STATUTORY INFORMATION

Cope Alloys Ltd 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.

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
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.

Fixtures, fittings & equipment 25% on Net Book Value
Computer equipment 25% on Net Book Value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply.Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

COPE ALLOYS LTD (REGISTERED NUMBER: 09313826)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets

The company's financial assets comprise basic financial instruments, being trade and other receivables, amounts owed by group undertakings, prepayments, accrued income and cash and bank balances.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of no more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months or less from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Trade, other receivable, prepayments, accrued income and amounts owed by group undertakings are measured at transaction price less any impairment. Any impairment loss is recognised in the Profit and Loss.

Financial assets are derecognised when contractual rights to the cash flows from the financial asset expires or are settled, or when substantially all the risks and rewards of ownership have been transferred.

Financial liabilities

The company's financial liabilities comprise of basic financial liabilities, including trade and other payables,
corporation tax, accruals and deferred income. These are initially recognised at transaction price.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities
.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

COPE ALLOYS LTD (REGISTERED NUMBER: 09313826)

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


4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 5,961 4,185

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 33,193
Additions 1,364
At 31 December 2024 34,557
DEPRECIATION
At 1 January 2024 10,151
Charge for year 5,961
At 31 December 2024 16,112
NET BOOK VALUE
At 31 December 2024 18,445
At 31 December 2023 23,042

6. FIXED ASSET INVESTMENTS
Investment
in
subsidiary
company
£   
COST
At 1 January 2024 15,000
Impairments (2,500 )
At 31 December 2024 12,500
NET BOOK VALUE
At 31 December 2024 12,500
At 31 December 2023 15,000

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently 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.

COPE ALLOYS LTD (REGISTERED NUMBER: 09313826)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 428,989 435,509
Other debtors 8,944 8,802
437,933 444,311

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 35,153 73,252
Taxation and social security 45,885 40,402
Other creditors 16,917 29,445
97,955 143,099

9. RELATED PARTY DISCLOSURES

During the reporting period the company sold goods to its subsidiary company Penta Special Alloys S.R.L. for £1,252,776 (2023: £1,506,509).

As at year end the balance due from its subsidiary company Penta Special Alloys S.R.L. was £428,989 (2023: £435,508).

At the end of the year a balance of £16,238 (2023: £28,313) was payable to the director.

10. ULTIMATE CONTROLLING PARTY

The controlling party is D Pescini.