Company Registration No. SC162762 (Scotland)
J & D Cowper Ltd
Filleted accounts
for the year ended 31 May 2023
J & D Cowper Ltd
Filleted accounts
Contents
J & D Cowper Ltd
Company Information
for the year ended 31 May 2023
Directors
Taylor Cowper
Kathleen Cowper
Michael Cowper
Iain Cowper
Company Number
SC162762 (Scotland)
Registered Office
Airfield Road
Deephaven Industrial Estate
Evanton
Ross-Shire
IV16 9XJ
Accountants
Cameron Consulting (Scotland) Ltd
7 Poles Road
Dornoch
IV25 3HP
J & D Cowper Ltd
Statement of financial position
as at 31 May 2023
Tangible assets
2,980,566
2,655,599
Investment property
163,579
150,552
Debtors
1,249,659
1,379,278
Cash at bank and in hand
3,528
36,143
Creditors: amounts falling due within one year
(2,109,086)
(1,959,549)
Net current liabilities
(835,195)
(519,580)
Total assets less current liabilities
2,308,950
2,286,571
Creditors: amounts falling due after more than one year
(893,926)
(849,902)
Provisions for liabilities
Deferred tax
(205,786)
(285,476)
Net assets
1,209,238
1,151,193
Called up share capital
74,883
74,883
Revaluation reserve
173,576
173,576
Profit and loss account
960,779
902,734
Shareholders' funds
1,209,238
1,151,193
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2023 and were signed on its behalf by
Taylor Cowper
Director
Company Registration No. SC162762
J & D Cowper Ltd
Notes to the Accounts
for the year ended 31 May 2023
J & D Cowper Ltd is a private company, limited by shares, registered in Scotland, registration number SC162762. The registered office is Airfield Road, Deephaven Industrial Estate, Evanton, Ross-Shire, IV16 9XJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
over 20 years
Plant & machinery
10% - 30% reducing balance
Motor vehicles
20% reducing balance
Fixtures & fittings
over 3 -10 years
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
J & D Cowper Ltd
Notes to the Accounts
for the year ended 31 May 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2022
1,348,566
3,657,204
44,022
51,412
5,101,204
Additions
11,680
1,093,716
34,990
2,405
1,142,791
Disposals
-
(771,279)
(12,200)
-
(783,479)
At 31 May 2023
1,360,246
3,979,641
66,812
53,817
5,460,516
At 1 June 2022
511,698
1,851,318
33,161
49,428
2,445,605
Charge for the year
44,436
580,736
6,588
927
632,687
On disposals
-
(586,142)
(12,200)
-
(598,342)
At 31 May 2023
556,134
1,845,912
27,549
50,355
2,479,950
At 31 May 2023
804,112
2,133,729
39,263
3,462
2,980,566
At 31 May 2022
836,868
1,805,886
10,861
1,984
2,655,599
Fair value at 1 June 2022
150,552
Amounts falling due within one year
Trade debtors
1,165,151
1,267,766
Accrued income and prepayments
11,414
11,196
Other debtors
73,094
100,316
J & D Cowper Ltd
Notes to the Accounts
for the year ended 31 May 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
700,177
681,656
Obligations under finance leases and hire purchase contracts
672,971
524,844
Trade creditors
321,427
328,466
Taxes and social security
115,580
175,587
Other creditors
298,931
248,996
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Creditors: amounts falling due after more than one year
2023
2022
Bank loans
100,325
234,562
Obligations under finance leases and hire purchase contracts
741,928
558,746
Deferred income
51,673
56,594
9
Average number of employees
During the year the average number of employees was 52 (2022: 50).
