REGISTERED NUMBER: 09313826 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

COPE ALLOYS LTD

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

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

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

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 £55,000 have been paid during the year 2025 (2024: £135,000).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

Ms C Carrisi

D Pescini

ON BEHALF OF THE BOARD:

D Pescini - Director

31 July 2026

TURNOVER

1,150,985

1,252,776

Cost of sales

(877,706

)

(840,023

)

GROSS PROFIT

273,279

412,753

Administrative expenses

(193,388

)

(238,305

)

OPERATING PROFIT and

PROFIT BEFORE TAXATION

79,891

174,448

Tax on profit

(23,904

)

(45,386

)

PROFIT FOR THE FINANCIAL YEAR

55,987

129,062

FIXED ASSETS

Tangible assets

5

18,713

18,445

Investments

6

12,500

12,500

31,213

30,945

CURRENT ASSETS

Stocks

30,599

-

Debtors

7

573,408

437,933

Cash at bank

173,429

227,309

777,436

665,242

CREDITORS

Amounts falling due within one year

8

(204,752

)

(97,955

)

NET CURRENT ASSETS

572,684

567,287

TOTAL ASSETS LESS CURRENT LIABILITIES

603,897

598,232

PROVISIONS FOR LIABILITIES

9

(4,678

)

-

NET ASSETS

599,219

598,232

CAPITAL AND RESERVES

Called up share capital

12,700

12,700

Retained earnings

586,519

585,532

599,219

598,232

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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 31 July 2026 and were signed on its behalf by:

D Pescini - Director

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.

Stocks

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

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.

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.

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 (2024 - 4 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Depreciation - owned assets

5,230

5,961

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

34,557

Additions

5,498

At 31 December 2025

40,055

DEPRECIATION

At 1 January 2025

16,112

Charge for year

5,230

At 31 December 2025

21,342

NET BOOK VALUE

At 31 December 2025

18,713

At 31 December 2024

18,445

6.	FIXED ASSET INVESTMENTS

Investment

in

subsidiary

company

£

COST

At 1 January 2025

and 31 December 2025

12,500

NET BOOK VALUE

At 31 December 2025

12,500

At 31 December 2024

12,500

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.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

542,986

428,989

Other debtors

30,422

8,944

573,408

437,933

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

119,598

35,153

Taxation and social security

19,681

45,887

Other creditors

65,473

16,915

204,752

97,955

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Other timing differences

4,678

-

Deferred

tax

£

Provided during year

4,678

Balance at 31 December 2025

4,678

10.	RELATED PARTY DISCLOSURES

During the reporting period the company sold goods to its subsidiary company Penta Special Alloys S.R.L. for £1,150,985 (2024: £1,252,776).

As at year end the balance due from its subsidiary company Penta Special Alloys S.R.L. was £542,986 (2024: £428,989).

At the end of the year a balance of £16,238 (2024: £16,238) was payable to the director.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is D Pescini.