S. Cooper Holdings Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 00344767 (England and Wales)

Financial Statements

for the Year Ended 31 March 2018

for

S. Cooper Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R J Howarth

Mrs K J Howarth

J R Howarth

SECRETARY:

M T Johnson

REGISTERED OFFICE:

Nat Lane

Winsford

Cheshire

CW7 3BS

REGISTERED NUMBER:

00344767 (England and Wales)

AUDITORS:

Mitten Clarke Audit Limited

Statutory Auditors

The Glades

Festival Way

Stoke on Trent

Staffordshire

ST1 5SQ

FIXED ASSETS

Tangible assets

5

2,198,120

2,233,883

161

Investments

6

100,000

100,000

100,000

Investment property

7

376,000

376,000

2,650,000

2,674,120

2,709,883

2,750,161

CURRENT ASSETS

Debtors

8

371,509

397,880

471,000

Cash at bank

6,823

10,801

12,038

378,332

408,681

483,038

CREDITORS

Amounts falling due within one year

9

(509,967

)

(570,033

)

(686,930

)

NET CURRENT LIABILITIES

(131,635

)

(161,352

)

(203,892

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,542,485

2,548,531

2,546,269

CREDITORS

Amounts falling due after more than one year

10

(419,884

)

(550,855

)

(591,095

)

PROVISIONS FOR LIABILITIES

(18,261

)

(31,500

)

(50,000

)

NET ASSETS

2,104,340

1,966,176

1,905,174

CAPITAL AND RESERVES

Called up share capital

11,000

11,000

11,000

Revaluation reserve

12

1,379,578

1,380,688

1,362,188

Retained earnings

12

713,762

574,488

531,986

2,104,340

1,966,176

1,905,174

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 July 2018 and were signed on its behalf by:

R J Howarth - Director

1.	STATUTORY INFORMATION

S. Cooper Holdings 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention and are presented in

Pounds Sterling (£) being the functional currency.

The financial statements have been prepared on the assumption that the company is able to carry on

business as a going concern, which the directors consider appropriate having regard to the company's

current and expected performance.

Preparation of consolidated financial statements

The financial statements contain information about S. Cooper Holdings Limited as an individual company

and do not contain consolidated financial information as the parent of a group. The company is exempt

under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial

statements as it and its subsidiary undertaking are included by full consolidation in the consolidated

financial statements of its parent, S Cooper Group Limited, Nat Lane, Winsford, Cheshire, United

Kingdom, CW7 3BS.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements,

estimates and assumptions about the carrying amounts of assets and liabilities that are not readily

apparent from other sources. The estimates and associated assumptions are based on historical

experience and other factors that are considered to be relevant. Actual results may differ from these

estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised if the revision affects only that

period, or in the period of the revision and future periods if the revision affects both current and future

periods.

Key sources of estimation uncertainty

The directors consider that the key estimates and assumptions used in preparing the financial statements

are as follows:

- Valuation of investment property.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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 machinery

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent fair value. Any 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 3 ).

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2017

and 31 March 2018

2,274,000

12,526

2,286,526

DEPRECIATION

At 1 April 2017

40,237

12,406

52,643

Charge for year

35,763

-

35,763

At 31 March 2018

76,000

12,406

88,406

NET BOOK VALUE

At 31 March 2018

2,198,000

120

2,198,120

At 31 March 2017

2,233,763

120

2,233,883

Included in cost of land and buildings is freehold land of £ 485,830 (2017 - £ 485,830 ) which is not

depreciated.

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2017

and 31 March 2018

100,000

NET BOOK VALUE

At 31 March 2018

100,000

At 31 March 2017

100,000

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

and 31 March 2018

376,000

NET BOOK VALUE

At 31 March 2018

376,000

At 31 March 2017

376,000

Fair value at 31 March 2018 is represented by:

£

Valuation in 2016

121,000

Cost

255,000

376,000

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

2018

2017

as restated

£

£

Cost

255,000

255,000

Aggregate depreciation

(76,500

)

(71,400

)

Investment property was valued on an open market basis on 24 February 2016 by Legat Owen Chartered

Surveyors. The directors are of the view that there is no material difference in the fair value of

investment property at 31 March 2018.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

as restated

£

£

Trade debtors

37,412

24,178

Amounts owed by group undertakings

154,385

163,231

Other debtors

179,712

210,471

371,509

397,880

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

as restated

£

£

Bank loans and overdrafts

108,971

105,975

Trade creditors

9,504

8,017

Taxation and social security

70,877

75,166

Other creditors

320,615

380,875

509,967

570,033

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

as restated

£

£

Bank loans

353,884

462,855

Other creditors

66,000

88,000

419,884

550,855

11.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

as restated

£

£

Bank loans

462,855

568,830

Pension loans

88,000

132,266

550,855

701,096

Bank loans are secured by way of a fixed and floating charge over all of the company's assets.

Pension loans are secured by way of a general charge over land and buildings, fixtures and fittings, plant

and equipment and computer equipment of the company.

12.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 April 2017

614,725

1,380,688

1,995,413

Prior year adjustment

(40,237

)

(40,237

)

574,488

1,955,176

Profit for the year

337,925

337,925

Dividends

(213,000

)

(213,000

)

Other comprehensive income

-

13,239

13,239

Excess depreciation over cost

14,349

(14,349

)

-

At 31 March 2018

713,762

1,379,578

2,093,340

Retained earnings represents the accumulated profits less accumulated losses and distributions up to the

reporting date. This is a distributable reserve.

Revaluation reserve represents gains on revaluation of property owned by the company, less any

revaluation losses and provisions for deferred tax on the revaluation. This is a non-distributable reserve.

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adam Clarke FCA (Senior Statutory Auditor)

for and on behalf of Mitten Clarke Audit Limited

14.	RELATED PARTY DISCLOSURES

Loans from related parties

During the prior year, a loan from a pension scheme involving a director of the company was provided to S

Cooper Holdings Limited for £110,000 in addition to an existing loan from the pension scheme. At the year

end there were total loans outstanding of £88,000 (2017 - £132,266) to the pension scheme. Interest has

been charged at 5% totalling £2,865 (2017 - £3,664) for the year.

Loans to related parties

Included in other debtors at the year end are amounts due to the company of £177,000 (2017 - £207,000)

in relation to loans to a company controlled by a director and the ultimate controlling party of S Cooper

Holdings Limited.

Other related party transactions

Included in other creditors at the year end are amounts due to directors of £236,633 (2017 - £257,017).

Interest has been charged on the loan account of one of the directors during the period at a rate of

10.75%. Interest charged for the period totalled £10,113 (2017 - £11,787).

15.	ULTIMATE PARENT COMPANY

The ultimate parent company is S Cooper Group Limited which has the registered office Nat Lane,

Winsford, Cheshire, United Kingdom, CW7 3BS.

16.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R J Howarth by virtue of controlling 50.7% of S Cooper Group Limited,

the ultimate parent company.