Cooper Research Technology Limited - Accounts to registrar (filleted)

COOPER RESEARCH TECHNOLOGY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T J Johnsen

V K Mehan

A M Otter

REGISTERED OFFICE:

Regent House

Lenton Street

Sandiacre

Nottingham

Nottinghamshire

NG10 5DJ

REGISTERED NUMBER:

02435868 (England and Wales)

SENIOR STATUTORY AUDITOR:

Hari Vasdev MEng FCA

AUDITORS:

Sibbalds Limited

Chartered Accountants and Statutory Auditor

Sixth Floor

Cavendish Building

1 Agard Street

Derby

Derbyshire

DE1 1DZ

FIXED ASSETS

Tangible assets

4

347,381

403,005

Investments

5

216,719

564,100

619,724

CURRENT ASSETS

Stocks

1,093,883

1,013,414

Debtors

6

641,853

953,509

Cash at bank

22,078

29,663

1,757,814

1,996,586

CREDITORS

Amounts falling due within one year

7

1,437,924

1,405,064

NET CURRENT ASSETS

319,890

591,522

TOTAL ASSETS LESS CURRENT LIABILITIES

883,990

1,211,246

CREDITORS

Amounts falling due after more than one
year

8

455,555

738,889

NET ASSETS

428,435

472,357

CAPITAL AND RESERVES

Called up share capital

12

214

Share premium

52,068

Retained earnings

376,153

420,075

SHAREHOLDERS' FUNDS

428,435

472,357

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

A M Otter - Director

1.	STATUTORY INFORMATION

Cooper Research Technology 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Cooper Research Technology Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company is a wholly owned subsidiary. The company has taken advantage of the exemption within the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" not to disclose related party transactions entered into between fellow group members that are also wholly owned within the group.

Turnover

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

Turnover is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the company will receive the previously agreed upon payment.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

33% on reducing balance

Fixtures and fittings

-

33% on reducing balance and 4% on cost

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investment in subsidiary undertakings are recognised at cost less impairment.

Stocks and work in progress

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

Going concern

The parent company has confirmed that it will continue to support this company for a period of at least twelve months from the date of approval of these financial statements and, on the basis of this continued support, the directors consider it appropriate to prepare these accounts on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

COST

At 1 April 2024

288,308

387,985

332,086

54,993

1,063,372

Disposals

-

(18,399

)

(18,399

)

At 31 March 2025

288,308

387,985

332,086

36,594

1,044,973

DEPRECIATION

At 1 April 2024

66,426

281,619

276,772

35,550

660,367

Charge for year

5,766

34,572

8,542

4,494

53,374

Eliminated on disposal

-

(16,149

)

(16,149

)

At 31 March 2025

72,192

316,191

285,314

23,895

697,592

NET BOOK VALUE

At 31 March 2025

216,116

71,794

46,772

12,699

347,381

At 31 March 2024

221,882

106,366

55,314

19,443

403,005

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

216,719

NET BOOK VALUE

At 31 March 2025

216,719

At 31 March 2024

216,719

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Mercol Engineering Limited

Registered office: Regent House, Lenton Street, Sandiacre, Nottingham, Nottinghamshire, NG10 5DG

Nature of business: Manufacturer of instruments for testing

%

Class of shares:

holding

Ordinary

100.00

James Cox and Sons Inc.

Registered office: PO Box 674, Colfax CA95713, USA

Nature of business: Manufacturer of instruments for testing

%

Class of shares:

holding

Ordinary

100.00

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

190,629

677,012

Other debtors

451,224

276,497

641,853

953,509

Deferred tax asset

2025

2024

£

Accelerated capital allowances

(28,900

)

(40,597

)

Tax losses carried forward

149,321

120,421

108,724

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

311,083

541,223

Trade creditors

591,434

601,464

Amounts owed to group undertakings

72,949

-

Taxation and social security

50,628

53,807

Other creditors

411,830

208,570

1,437,924

1,405,064

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

455,555

738,889

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

Within one year

33,984

37,496

Between one and five years

9,533

43,517

81,013

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

766,638

1,280,112

The bank loan is a government-backed CBILS loan repayable in monthly installments after an initial 12 month repayment holiday. During this 12 months the government will cover the interest charge via a business interruption payment. The loan will be fully repaid in October 2026. Interest is charged at 3.99% above base rate.

A director has provided a guarantee amounting to £75,000 in relation to this loan.

There are also two further secured debts inclusive of this total in the current financial year provided by business loan and funding scaleup organisations.

The first is a term loan facility to be received in tranches relating to financial performance covenants set out prior to acceptance. A director has provided a guarantee amounting to £50,000 in relation to this agreement, and another director has provided a guarantee of a further £250,000 in relation to this agreement.

The second of these is a further loan facility with a different provider. This amount is personally guaranteed by a director of the company.

11.	DEFERRED TAX

£

Balance at 1 April 2024

(108,724

)

Credit to Statement of Income and Retained Earnings during year

(11,697

)

Balance at 31 March 2025

(120,421

)

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

214

Ordinary

£1

214

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Hari Vasdev MEng FCA (Senior Statutory Auditor)

for and on behalf of Sibbalds Limited

14.	OTHER FINANCIAL COMMITMENTS

The company has an undertaking to its bankers for full group security incorporating debentures and corporate guarantees for the group's borrowings dated 10 January 2017. The net amount outstanding to the bank in respect of the undertaking at 31 March 2025 was £NIL (2024 - £NIL).

The bank borrowings are secured by a fixed and floating charge over the assets of the group.

15.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

A M Otter

Balance outstanding at start of year

431

Amounts repaid

(226,613

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(226,182

)

431

T J Johnsen

Balance outstanding at start of year

-

Amounts repaid

(30,000

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(30,000

)

-

16.	RELATED PARTY DISCLOSURES

At the year end, £256,182 (2024: £16,345) was due to the director of the company. This amount is interest free and repayable on demand

17.	ULTIMATE CONTROLLING PARTY

The company's ultimate parent company is Eagle Scientific Limited. Copies of the consolidated financial statements of Eagle Scientific Limited are available from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF4 3UZ. Both companies share the same registered office.