THE COPPERMINES & LAKES COTTAGES LIMITED


Directors	JOHNSTON, Philip Aylwin
	PARKIN, Rachael Dorothy
	WILKINSON-MARSH, Sarah Elizabeth Doris


Registered Address	The Estate Office
	The Bridge
	Coniston
	LA21 8HJ


Registered Number	03147701 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis 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 Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

	Goodwill
	Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. 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. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

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.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Plant and machinery	20	-
Fixtures and fittings	15	-
Vehicles	25	-

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	27		28

3.	Intangible assets

	Goodwill	Other	Total
	£	£	£
Cost or valuation
At 01 April 25	36,800	9,315	46,115
At 31 March 26	36,800	9,315	46,115
Amortisation and impairment
At 01 April 25	36,800	9,315	46,115
At 31 March 26	36,800	9,315	46,115
Net book value
At 31 March 26	-	-	-
At 31 March 25	-	-	-

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Total
	£	£	£	£	£
Cost or valuation
At 01 April 25	1,435,560	9,959	209,444	392,408	2,047,371
Additions	71,466	5,600	5,400	83,020	165,486
At 31 March 26	1,507,026	15,559	214,844	475,428	2,212,857
Depreciation and impairment
At 01 April 25	103,340	3,123	27,073	284,170	417,706
Charge for year	26,926	1,554	12,087	17,617	58,184
At 31 March 26	130,266	4,677	39,160	301,787	475,890
Net book value
At 31 March 26	1,376,760	10,882	175,684	173,641	1,736,967
At 31 March 25	1,332,220	6,836	182,371	108,238	1,629,665

5.	Stocks

	2026	2025
	£	£
Raw materials and consumables	67,972	59,735
Total	67,972	59,735

6.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	28,813	6,125
Other debtors	98,043	75,960
Prepayments and accrued income	25,473	17,121
Total	152,329	99,206

7.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	863,147	994,632
Bank borrowings and overdrafts	21,490	18,600
Taxation and social security	66,965	88,803
Other creditors	17,142	15,081
Accrued liabilities and deferred income	18,174	11,204
Total	986,918	1,128,320


	Bank borrowings and overdrafts are secured by fixed and floating charges over the assets of the company.

8.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	484,081	198,391
Total	484,081	198,391


	Bank borrowings and overdrafts are secured by fixed and floating charges over the assets of the company.

9.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	65,000	47,500
Total	65,000	47,500

10.	Directors advances, credits and guarantees
	On 1 April 2025 a Director owed the Company £5,960. During the period this director was advanced a further £114,737 and repaid £108,438. As at 31 March 2026 this Director owed the Company £6,299. Interest of £nil was charged on this loan. The loan is unsecured and repayable upon demand.

11.	Guarantees provided on behalf of directors
	The director has provided personal guarantees of £400,000.

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	4		1,736,967		1,629,665
			1,736,967		1,629,665
Current assets
Stocks	5	67,972		59,735
Debtors	6	152,329		99,206
Cash at bank and on hand		220,221		204,516
		440,522		363,457
Creditors amounts falling due within one year	7	(986,918)		(1,128,320)
Net current assets (liabilities)			(546,396)		(764,863)
Total assets less current liabilities			1,190,571		864,802
Creditors amounts falling due after one year	8		(484,081)		(198,391)
Provisions for liabilities	9		(65,000)		(47,500)
Net assets			641,490		618,911
Capital and reserves
Called up share capital			100		100
Profit and loss account			641,390		618,811
Shareholders' funds			641,490		618,911