Batchelor Coop Ltd - Period Ending 2023-09-30

Batchelor Coop Ltd - Period Ending 2023-09-30


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Registration number: 02739117

Batchelor Coop Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

(filleted for filing purposes)

 

Batchelor Coop Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Batchelor Coop Ltd

Company Information

Directors

RC Coop

MA Batchelor

MJ Sole

G Rennells

M Roby

Registered office

The New Barn
Mill Lane
Eastry
Sandwich
Kent
CT13 0JW

 

Batchelor Coop Ltd

(Registration number: 02739117)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

51,518

22,212

Current assets

 

Debtors

6

202,501

162,792

Cash at bank and in hand

 

237,233

290,709

 

439,734

453,501

Creditors: Amounts falling due within one year

7

(289,973)

(279,197)

Net current assets

 

149,761

174,304

Total assets less current liabilities

 

201,279

196,516

Provisions for liabilities

(8,078)

(3,520)

Net assets

 

193,201

192,996

Capital and reserves

 

Called up share capital

8

204

204

Retained earnings

192,997

192,792

Shareholders' funds

 

193,201

192,996

 

Batchelor Coop Ltd

(Registration number: 02739117)
Balance Sheet as at 30 September 2023

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 6 March 2024 and signed on its behalf by:
 

.........................................
RC Coop
Director

.........................................
MA Batchelor
Director

.........................................
MJ Sole
Director

 

Batchelor Coop Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The New Barn
Mill Lane
Eastry
Sandwich
Kent
CT13 0JW
England

These financial statements were authorised for issue by the Board on 6 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Batchelor Coop Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% on written down value

Leasehold buildings

Over lease term

Fixtures and fittings

15% on written down value

Computer equipment

25% straight line over 4 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Goodwill is amortised over its useful life, which has been calculated using reliable estimates based upon the type and longevity of each item of goodwill acquired.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over between 3 and 20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

 

Batchelor Coop Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2022 - 14).

 

Batchelor Coop Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2022

299,595

299,595

At 30 September 2023

299,595

299,595

Amortisation

At 1 October 2022

299,595

299,595

At 30 September 2023

299,595

299,595

Carrying amount

At 30 September 2023

-

-

5

Tangible assets

Land and buildings
£

Office equipment
£

Total
£

Cost or valuation

At 1 October 2022

23,779

71,289

95,068

Additions

29,263

10,096

39,359

At 30 September 2023

53,042

81,385

134,427

Depreciation

At 1 October 2022

20,061

52,795

72,856

Charge for the year

3,298

6,755

10,053

At 30 September 2023

23,359

59,550

82,909

Carrying amount

At 30 September 2023

29,683

21,835

51,518

At 30 September 2022

3,718

18,494

22,212

 

Batchelor Coop Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

111,920

78,560

Prepayments

11,352

9,637

Other debtors

79,229

74,595

 

202,501

162,792

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

7,942

5,614

Other related parties

139,499

149,024

Taxation and social security

 

56,125

50,216

Other creditors

 

86,407

74,343

 

289,973

279,197

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

100 Ordinary shares of £1 each

100

100

100

100

100 Ordinary B Non-Voting shares of £1 each

100

100

100

100

1 Ordinary C Non-Voting shares of £1 each

1

1

1

1

1 Ordinary D Non-Voting share of £1 each

1

1

1

1

1 Ordinary E Non-Voting share of £1 each

1

1

1

1

1 Ordinary F Non-Voting share of £1 each

1

1

1

1

 

204

204

204

204