Copperbottom Properties Limited - Accounts to registrar (filleted) - small 18.2
Copperbottom Properties Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2018 |
| FOR |
| COPPERBOTTOM PROPERTIES LIMITED |
| COPPERBOTTOM PROPERTIES LIMITED (REGISTERED NUMBER: 03691435) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| COPPERBOTTOM PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 89 High Street |
| Hadleigh |
| Ipswich |
| Suffolk |
| IP7 5EA |
| COPPERBOTTOM PROPERTIES LIMITED (REGISTERED NUMBER: 03691435) |
| BALANCE SHEET |
| 31 MAY 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Non distributable reserve | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| COPPERBOTTOM PROPERTIES LIMITED (REGISTERED NUMBER: 03691435) |
| BALANCE SHEET - continued |
| 31 MAY 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on its behalf by: |
| COPPERBOTTOM PROPERTIES LIMITED (REGISTERED NUMBER: 03691435) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2018 |
| 1. | STATUTORY INFORMATION |
| Copperbottom Properties Limited is a |
| 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 |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax, as adjusted |
| by the value of work completed during the year. Rental income is included within turnover on the basis |
| of the amounts that are receivable during the period |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
| changes in fair value is recognised in profit or loss. |
| 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. |
| COPPERBOTTOM PROPERTIES LIMITED (REGISTERED NUMBER: 03691435) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Investments |
| The company's unlisted investment is shown at cost rather than fair value as the directors consider |
| that the effect would not be material to the accounts. |
| Going concern |
| In addition to the mortgage finance for the freehold property, the directors of the company are fully |
| confident of the support of its principal creditors, as they comprise associated companies wholly owned |
| or controlled by the shareholders and directors of Copperbottom Properties Ltd, and loans from the |
| directors. The company has a continuing cash flow from consultancy work and rental income on its |
| property, with 100% cover on its mortgage and interest repayments. |
| The company has provided financial support to the subsidiary company. The subsidiary company |
| secured long term funding to finance the freehold development. |
| The directors have prepared projected cash flow information covering the next twelve months. On the |
| basis of this cash flow information and discussions with the company's bankers, the directors consider |
| that the company will continue to operate within the facilities currently agreed and within those that they |
| expect to be agreed over the twelve month period from the date of approval of the accounts. |
| On this basis, the directors consider it appropriate to prepare the financial statements on a going |
| concern basis. |
| 3. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 June 2017 |
| and 31 May 2018 |
| DEPRECIATION |
| At 1 June 2017 |
| Charge for year |
| At 31 May 2018 |
| NET BOOK VALUE |
| At 31 May 2018 |
| At 31 May 2017 |
| COPPERBOTTOM PROPERTIES LIMITED (REGISTERED NUMBER: 03691435) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2018 |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group | Other |
| undertakings | investments | Totals |
| £ | £ | £ |
| COST |
| At 1 June 2017 |
| and 31 May 2018 | 779,849 |
| NET BOOK VALUE |
| At 31 May 2018 | 779,849 |
| At 31 May 2017 | 779,849 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 June 2017 |
| and 31 May 2018 |
| NET BOOK VALUE |
| At 31 May 2018 |
| At 31 May 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Other creditors |
| COPPERBOTTOM PROPERTIES LIMITED (REGISTERED NUMBER: 03691435) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2018 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2018 | 2017 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans | 1,355,382 | 1,459,122 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| The bank loan is secured on the company's investment properties and has also been guaranteed by |
| Wisdom Tooth Limited, a subsidiary of the company. |
| 10. | NON DISTRIBUTABLE RESERVE |
| Non |
| distributable |
| reserve |
| £ |
| At 1 June 2017 |
| and 31 May 2018 |
| The non distributable reserve represents the accumulated investment property revaluation gains. |