Copeland & Craddock Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 00878151 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017

FOR

COPELAND & CRADDOCK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs D J Colley

Mrs R M Stafford

Mrs C R Davenport

Mr M J Colley

Mr D E Stafford

Mr P C Davenport

SECRETARY:

Mrs D J Colley

REGISTERED OFFICE:

Radnor Park Industrial Estate

Back Lane

Congleton

Cheshire

CW12 4PX

REGISTERED NUMBER:

00878151 (England and Wales)

ACCOUNTANTS:

Hanleys

Chartered Accountants

Spring Court

Spring Road

Hale

Altrincham

Cheshire

WA14 2UQ

FIXED ASSETS

Tangible assets

4

396,800

409,773

CURRENT ASSETS

Stocks

18,255

22,628

Debtors

5

344,838

309,736

Cash at bank and in hand

141

238

363,234

332,602

CREDITORS

Amounts falling due within one year

6

161,059

172,272

NET CURRENT ASSETS

202,175

160,330

TOTAL ASSETS LESS CURRENT LIABILITIES

598,975

570,103

CAPITAL AND RESERVES

Called up share capital

62,812

62,812

Revaluation reserve

8

179,932

185,736

Capital redemption reserve

21,188

21,188

Retained earnings

335,043

300,367

SHAREHOLDERS' FUNDS

598,975

570,103

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 4 September 2017 and were signed on its behalf by:

Mr D E Stafford - Director

1.	STATUTORY INFORMATION

Copeland & Craddock 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents sales of goods and services excluding value added tax and is recognised in the period to

which it relates.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and equipment

-

10% on cost

Computer equipment

-

33.33% on cost

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Computer

property

equipment

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 June 2016

and 31 May 2017

640,000

1,229,913

14,238

1,884,151

DEPRECIATION

At 1 June 2016

230,400

1,229,913

14,065

1,474,378

Charge for year

12,800

-

173

12,973

At 31 May 2017

243,200

1,229,913

14,238

1,487,351

NET BOOK VALUE

At 31 May 2017

396,800

-

-

396,800

At 31 May 2016

409,600

-

173

409,773

Cost or valuation at 31 May 2017 is represented by:

Freehold

Plant and

Computer

property

equipment

equipment

Totals

£

£

£

£

Valuation in 1998

290,211

-

-

290,211

Cost

349,789

1,229,913

14,238

1,593,940

640,000

1,229,913

14,238

1,884,151

If freehold property had not been revalued it would have been included at the following historical cost:

31.5.17

31.5.16

£

£

Cost

349,789

349,789

Aggregate depreciation

198,920

198,920

Freehold property was valued on an open market basis on 10 September 1998 by Timothy A Brown Estate Agents

.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

338,262

302,971

Other debtors

257

257

Prepayments

6,319

6,508

344,838

309,736

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans and overdrafts

5,878

1,991

Trade creditors

56,423

51,165

Social security and other taxes

78,176

87,499

Other creditors

29

184

Accrued expenses

20,553

31,433

161,059

172,272

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.5.17

31.5.16

£

£

Within one year

71,120

63,233

Between one and five years

152,093

132,971

223,213

196,204

8.

RESERVES

Revaluation

reserve

£

At 1 June 2016

185,736

Transfer from revaluation reserve

(5,804

)

At 31 May 2017

179,932

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors, who own all of the company's issued share capital between them.