Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| Investment property | 4 |
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| 5,404,988 | 5,242,731 | |||
| Current assets | ||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| 545,851 | 622,379 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current (liabilities)/assets | (18,759) | 101,427 | ||
| Total assets less current liabilities | 5,386,229 | 5,344,158 | ||
| Creditors: amounts falling due after more than one year | 7 | (
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| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Revaluation reserve |
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| Other reserves |
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| Profit and loss account |
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| Total shareholder's funds |
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Director's responsibilities:
The financial statements of Copano Limited (registered number:
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T Earl
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Copano Limited 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 Old Library Chambers, 21 Chipper Lane, Salisbury, Wiltshire, SP1 1BG, United Kingdom.
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements of the Companies Act 2006.
The functional currency of Copano Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.
The current tax charge is based on the taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates 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 where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date.
Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised. Deferred tax assets and liabilities are not recognised if the timing difference arises from the initial recognition of other assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset realised. Deferred tax is charged or credited to the profit and loss account.
Depreciation is provided on the following bases:
| Plant and machinery |
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| Computer equipment |
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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.
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.
Trade and other debtors and creditors are classified as basic financial instruments and are measured at transaction price. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in and and at bank.
Interest bearing bank loans, overdrafts and other loans which meet the criteria to be classified as basic financial instruments are recorded at the present value of cash payable.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in the profit and loss account.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
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| Plant and machinery | Computer equipment | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 July 2024 |
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| At 30 June 2025 |
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| Accumulated depreciation | |||||
| At 01 July 2024 |
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| Charge for the financial year |
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| At 30 June 2025 |
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| Net book value | |||||
| At 30 June 2025 | 14,034 | 296 | 14,330 | ||
| At 30 June 2024 | 18,712 | 395 | 19,107 |
| Investment property | |
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| Valuation | |
| As at 01 July 2024 |
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| Additions | 167,034 |
| As at 30 June 2025 |
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The property was purchased in 2014 at open market value. A valuation was carried out on 7 April 2017 by Strutt and Parker LLP on an existing use open market value basis. The property was valued at £5,030,000 plus improvement costs of £360,658 (including £167,034 during the year) incurred subsequently. In the opinion of the director, there is no material difference between the above value and the property's current value.
If the investments properties had been accounted for under historic cost accounting rules, the properties would have been included at £4,654,183 in 2025 (2024: £4,487,149).
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| Trade debtors |
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| Prepayments |
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| Derivative financial instruments |
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| Other debtors |
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| £ | £ | ||
| Bank loans and overdrafts |
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| Trade creditors |
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| Amounts owed to director |
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| Other loans |
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| Accruals and deferred income |
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| Corporation tax |
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| Other taxation and social security |
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| Other creditors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans |
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The carrying values of the Company’s financial assets and liabilities measured at fair value through the profit and loss are summarised by category below:
| 2025 | 2024 | ||
| £ | £ | ||
| Financial assets at fair value | |||
| Derivative financial assets due within one year |
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Included within creditors is £20,678 owed to the director (2024: £207,086 included within other debtors owed from the director). The loan is interest free and repayable on demand.