Company registration number 10683626 (England and Wales)
Cooper Yard Properties Ltd
Unaudited
Financial Statements
for the year ended 31 March 2022
PAGES FOR FILING WITH REGISTRAR
Cooper Yard Properties Ltd
Contents
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 6
Cooper Yard Properties Ltd
Statement of Financial Position
as at 31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,124,000
5,004,000
Current assets
Debtors
4
2,614
35,586
Cash at bank and in hand
88,333
607,723
90,947
643,309
Creditors: amounts falling due within one year
5
(992,567)
(1,535,402)
Net current liabilities
(901,620)
(892,093)
Total assets less current liabilities
4,222,380
4,111,907
Creditors: amounts falling due after more than one year
6
(2,763,247)
(2,939,789)
Provisions for liabilities
7
(304,595)
(239,520)
Net assets
1,154,538
932,598
Capital and reserves
Called up share capital
8
102
102
Fair value reserve
1,298,538
1,021,113
Profit and loss reserves
(144,102)
(88,617)
Total equity
1,154,538
932,598
Cooper Yard Properties Ltd
Statement of Financial Position (continued)
as at 31 March 2022
- 2 -
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 5 August 2022 and are signed on its behalf by:
S P Oldroyd
Director
Company Registration No. 10683626
Cooper Yard Properties Ltd
Statement of Changes in Equity
for the year ended 31 March 2022
- 3 -
Share capital
Fair value reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2020
102
31,709
31,811
Year ended 31 March 2021:
Profit and total comprehensive income for the year
-
-
931,387
931,387
Dividends
-
-
(30,600)
(30,600)
Transfers
-
1,021,113
(1,021,113)
-
Balance at 31 March 2021
102
1,021,113
(88,617)
932,598
Year ended 31 March 2022:
Profit and total comprehensive income for the year
-
-
221,940
221,940
Transfers
-
277,425
(277,425)
-
Balance at 31 March 2022
102
1,298,538
(144,102)
1,154,538
Cooper Yard Properties Ltd
Notes to the financial statements
for the year ended 31 March 2022
- 4 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention
.
The principal accounting policies adopted are set out below.
Turnover
Turnover
represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of services falling within the company's ordinary activities.
Turnover is recognised on supply of services to the customer.
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
Changes in fair value are recognised in profit or loss.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
income statement
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
income statement
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Cooper Yard Properties Ltd
Notes to the financial statements (continued)
for the year ended 31 March 2022
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
3
3
3
Tangible fixed assets
Investment properties
£
Cost
At 1 April 2021
5,004,000
Disposals
(222,500)
Revaluation
342,500
At 31 March 2022
5,124,000
Depreciation and impairment
At 1 April 2021 and 31 March 2022
Carrying amount
At 31 March 2022
5,124,000
At 31 March 2021
5,004,000
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by connected company
33,997
Other debtors
2,614
1,589
2,614
35,586
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
84
144
Taxation and social security
751
706
Other creditors
991,732
1,534,552
992,567
1,535,402
Cooper Yard Properties Ltd
Notes to the financial statements (continued)
for the year ended 31 March 2022
- 6 -
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Loans
2,763,247
2,939,789
7
Provisions for liabilities
2022
2021
£
£
Deferred tax liabilities
304,595
239,520
8
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
102
102
102
102
9
Company information
Cooper Yard Properties Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Unit 2 The Maltings Industrial Estate, Doncaster Road, Whitley Bridge, Goole, East Yorkshire, DN14 0HH.