Copperbottom Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03691435 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2020

FOR

COPPERBOTTOM PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S M A Gebler

D G Tooth

SECRETARY:

D G Tooth

REGISTERED OFFICE:

89 High Street

Hadleigh

Ipswich

Suffolk

IP7 5EA

REGISTERED NUMBER:

03691435 (England and Wales)

ACCOUNTANTS:

Walter Wright

Chartered Accountants

89 High Street

Hadleigh

Ipswich

Suffolk

IP7 5EA

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

544,209

779,849

Investment property

6

2,231,615

2,231,615

2,775,824

3,011,464

CURRENT ASSETS

Debtors

7

511,021

753,657

Cash at bank

23,184

44,888

534,205

798,545

CREDITORS

Amounts falling due within one year

8

377,380

672,272

NET CURRENT ASSETS

156,825

126,273

TOTAL ASSETS LESS CURRENT LIABILITIES

2,932,649

3,137,737

CREDITORS

Amounts falling due after more than one year

9

(1,991,542

)

(1,768,832

)

PROVISIONS FOR LIABILITIES

(62,433

)

(90,863

)

NET ASSETS

878,674

1,278,042

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Non distributable reserve

11

903,042

975,093

Retained earnings

(25,368

)

301,949

SHAREHOLDERS' FUNDS

878,674

1,278,042

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2021 and were signed on its behalf by:

S M A Gebler - Director

1.	STATUTORY INFORMATION

Copperbottom Properties 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.

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

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

Plant and machinery etc

-

20% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2019

and 31 May 2020

19,433

DEPRECIATION

At 1 June 2019

and 31 May 2020

19,433

NET BOOK VALUE

At 31 May 2020

-

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 June 2019

and 31 May 2020

779,808

41

779,849

PROVISIONS

Impairments

235,640

-

235,640

At 31 May 2020

235,640

-

235,640

NET BOOK VALUE

At 31 May 2020

544,168

41

544,209

At 31 May 2019

779,808

41

779,849

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2019

2,231,615

Additions

72,051

Impairments

(72,051

)

At 31 May 2020

2,231,615

NET BOOK VALUE

At 31 May 2020

2,231,615

At 31 May 2019

2,231,615

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Amounts owed by group undertakings

481,568

708,399

Other debtors

29,453

45,258

511,021

753,657

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans

75,000

105,000

Trade creditors

6,976

26,200

Taxation and social security

1

1

Other creditors

295,403

541,071

377,380

672,272

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

1,560,394

1,612,684

Other creditors

431,148

156,148

1,991,542

1,768,832

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

1,230,394

1,282,684

10.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

1,635,394

1,717,684

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.

11.	NON DISTRIBUTABLE RESERVE

Non

distributable

reserve

£

At 1 June 2019

975,093

Revaluation of freehold property

(72,051

)

At 31 May 2020

903,042

The non distributable reserve represents the accumulated investment property revaluation gains.