Company No: 01701280 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2025		31.03.2024
		£		£
Fixed assets
Tangible assets	4	182,735		200,809
Investment property	5	27,138,214		23,488,020
Investments	6	4		4
		27,320,953		23,688,833
Current assets
Debtors	7	7,460,051		7,106,970
Cash at bank and in hand		145,089		78,788
		7,605,140		7,185,758
Creditors: amounts falling due within one year	8	( 2,489,568)		( 2,761,530)
Net current assets		5,115,572		4,424,228
Total assets less current liabilities		32,436,525		28,113,061
Creditors: amounts falling due after more than one year	9	( 2,675,433)		( 3,038,081)
Provision for liabilities		( 3,266,035)		( 2,533,564)
Net assets		26,495,057		22,541,416
Capital and reserves
Called-up share capital		2		2
Revaluation reserve		11,847,424		8,947,424
Profit and loss account		14,647,631		13,593,990
Total shareholders' funds		26,495,057		22,541,416

For the financial year ending 31 March 2025 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Copas Brothers (Farms) Limited (registered number: 01701280) were approved and authorised for issue by the Board of Directors on 06 October 2025. They were signed on its behalf by:

Mr R W Copas Director

Mr J A Copas Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Copas Brothers (Farms) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hedsor Park Farm, Heathfield Road, Taplow, SL6 0HX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Reporting period length

Last year, the reporting period length had been lengthened to 16 months to coincide with similar companies reported on by the accounting function, therefore the comparatives may not show a true comparison.

Turnover

Turnover represents rent receivable from the investment property during the period.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Entitlements

2 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

10 - 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discontinued to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

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.

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 each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	Year ended 31.03.2025		Period from 01.12.2022 to 31.03.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Intangible assets

	Entitlements		Total
	£		£
Cost
At 01 April 2024	3,000		3,000
Disposals	( 3,000)		( 3,000)
At 31 March 2025	0		0
Accumulated amortisation
At 01 April 2024	3,000		3,000
Disposals	( 3,000)		( 3,000)
At 31 March 2025	0		0
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2024	629,166		629,166
Additions	8,740		8,740
At 31 March 2025	637,906		637,906
Accumulated depreciation
At 01 April 2024	428,357		428,357
Charge for the financial year	26,814		26,814
At 31 March 2025	455,171		455,171
Net book value
At 31 March 2025	182,735		182,735
At 31 March 2024	200,809		200,809

5. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	23,488,020
Additions	750,194
Fair value movement	2,900,000
As at 31 March 2025	27,138,214

The directors believe that the fair value of the investment properties fairly reflect their open market value in accordance with FRS 102 Section 1A.

6. Fixed asset investments

Investments in subsidiaries

	31.03.2025
	£
Cost
At 01 April 2024	4
At 31 March 2025	4
Carrying value at 31 March 2025	4
Carrying value at 31 March 2024	4

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.03.2025	Ownership 31.03.2024	Held
Copas Brothers (Construction) Limited	Hedsor Park Farm, Heathfield Road, Taplow, Maidenhead, SLE 0FE	commercial and residential construction work	Ordinary	100.00%	100.00%	Direct
Copas Brothers ( Residential) Limited	Hedsor Park Farm, Heathfield Road, Taplow, Maidenhead, SLE 0FE	residential property letting	Ordinary	100.00%	100.00%	Direct

7. Debtors

	31.03.2025		31.03.2024
	£		£
Trade debtors	703,638		679,597
Amounts owed by Group undertakings	6,756,413		6,427,373
	7,460,051		7,106,970

8. Creditors: amounts falling due within one year

	31.03.2025		31.03.2024
	£		£
Bank loans	296,828		226,911
Trade creditors	662,317		1,390,907
Taxation and social security	435,247		156,541
Other creditors	1,095,176		987,171
	2,489,568		2,761,530

The above bank loan of £296,828 (2024- £226,911) are secured by the assets of the company.

9. Creditors: amounts falling due after more than one year

	31.03.2025		31.03.2024
	£		£
Bank loans	2,675,433		3,038,081

The above bank loans are secured by the assets of the company.

10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

The company has taken advantage of the exemption provided by Section 33 of FRS 102 'Related Party Disclosures' and has not disclosed transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is party to the transaction is wholly owned by a member of that group.

The company has engaged the services of Copas Farms, a trust in which both of the directors are trustees, for various property and administration work during the year. This is paid for by means of a management charge based on turnover as well as other arms length payments for services rendered. The management charge in the year amounted to £ 264,795 (2024: £211,118). Interest of £70,717 (2024: £118,709) was received from Copas Farms in relation to a loan. Loan finance was provided to Copas Farms by the company totalling £1,940,000 (2024: £1,110,000) . Also during the year, Lower Mount Farms was rented from Copas Farms at a rent of £45,000 (2024: £45,000). The total amount outstanding at the year end due to Copas Farms is £ 319,821 (2024: £310,356 ).

R W Copas and J A Copas each have a 4.5% interest in the trust Copas Family Retirement Scheme for Woodlands Farm, 45% each in Beenham Grange, 42.5% each in Beenham Industrial and 7.5% each in Chequers End Equestrian Centre. During the year, rent was paid to Copas Family Retirement Scheme of £265,000 (2024: £265,000) for Woodlands Farm and Tunfield Farm, and £38,000 (2024: £23,000) for Beenham Grange, and £100,000 (2024: £90,000) for Beenham Indsutrial and £52,250 (2024: £52,250) for Chequers End Equestrian Centre.

The company also paid rent of £50,000 (2024: £50,000) for Orchard Farm to R W Copas and J A Copas the company directors and T A Copas, the mother of both directors.

During the year dividends of £nil (2024: nil) were paid to R W Copas and J A Copas, the company directors.