Copgamma Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03499970 (England and Wales)

COPGAMMA LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST JULY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

Chartered Accountants' Report

6

DIRECTORS:

Mr B K Yeng

Miss S M Yeng

SECRETARY:

Mrs S F Yeng

REGISTERED OFFICE:

2 Hennals Avenue

Redditch

Worcestershire

B97 5RX

REGISTERED NUMBER:

03499970 (England and Wales)

ACCOUNTANTS:

Ormerod Rutter Limited

Chartered Accountants

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

BANKERS:

National Westminster Bank plc

1 St Phillips Place

Birmingham

West Midlands

B3 2PP

FIXED ASSETS

Intangible assets

2

1,000

1,792

Tangible assets

3

300,424

300,567

301,424

302,359

CURRENT ASSETS

Stocks

505,126

Debtors

10,616

130,632

Cash at bank

119,576

7,821

635,318

643,579

CREDITORS

Amounts falling due within one year

4

54,156

45,362

NET CURRENT ASSETS

581,162

598,217

TOTAL ASSETS LESS CURRENT
LIABILITIES

882,586

900,576

CREDITORS

Amounts falling due after more than one
year

4

475,153

479,978

NET ASSETS

407,433

420,598

CAPITAL AND RESERVES

Called up share capital

5

1,335

Share premium

373,667

Profit and loss account

32,431

45,596

SHAREHOLDERS' FUNDS

407,433

420,598

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26th January 2017 and were signed on its behalf
by:

Mr B K Yeng - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents invoiced sales in respect of property development and property rent receivable.

Goodwill

Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value

of its separable net assets. It is being amortised evenly over its estimated useful life of three years as assessed in

2015, having previously been amortised over twenty years.

Tangible fixed assets

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

Land and buildings

-

not provided

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

No depreciation is provided on land and buildings. This treatment may be a departure from the requirements of

the Companies Act 2006 concerning depreciation of fixed assets, however, the company follows a program of

regular refurbishment and maintenance of its properties which includes the reinstatement of the fabric of the

buildings where necessary in order to maintain them to a high standard. Accordingly in the opinion of the

directors any element of depreciation would be immaterial and no provision has been made, as the residual value

would be in excess of cost. All other tangible fixed assets are stated at cost less depreciation.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance

for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and

variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st August 2015

and 31st July 2016

10,000

AMORTISATION

At 1st August 2015

8,208

Amortisation for year

792

At 31st July 2016

9,000

NET BOOK VALUE

At 31st July 2016

1,000

At 31st July 2015

1,792

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st August 2015

and 31st July 2016

311,048

DEPRECIATION

At 1st August 2015

10,481

Charge for year

143

At 31st July 2016

10,624

NET BOOK VALUE

At 31st July 2016

300,424

At 31st July 2015

300,567

4.

CREDITORS

Creditors include an amount of £ 514,585 (2015 - £ 521,285 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016

2015

£

Repayable by instalments

454,250

464,750

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,335

Ordinary

£1

1,335

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st July 2016 and

31st July 2015:

2016

2015

£

Mr B K Yeng

Balance outstanding at start of year

88,496

-

Amounts advanced

-

98,496

Amounts repaid

(88,496

)

(10,000

)

Balance outstanding at end of year

-

88,496

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Copgamma Limited for the year ended 31st July 2016 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Copgamma Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Copgamma Limited and state those matters that we have agreed to state to the Board of Directors of Copgamma Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Copgamma Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Copgamma Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Copgamma Limited. You consider that Copgamma Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Copgamma Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited

Chartered Accountants

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

26th January 2017