Registration number:
Copperstone Projects Limited
for the Year Ended 31 May 2020
Copperstone Projects Limited
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Copperstone Projects Limited
Company Information
Director |
Mr A Hennesy |
Registered office |
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Accountants |
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Copperstone Projects Limited
Director's Report for the Year Ended 31 May 2020
The director presents his report and the financial statements for the year ended 31 May 2020.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is Buidling contracting and project management
Small companies provision statement
This report has 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.
Approved by the Board on
.........................................
Mr A Hennesy
Director
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Copperstone Projects Limited
for the Year Ended 31 May 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Copperstone Projects Limited for the year ended 31 May 2020 as set out on pages 4 to 13 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 at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Copperstone Projects Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Copperstone Projects Limited and state those matters that we have agreed to state to the Board of Directors of Copperstone Projects Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Copperstone Projects Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Copperstone Projects Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Copperstone Projects Limited. You consider that Copperstone Projects 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 accounts of Copperstone Projects 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 accounts.
......................................
Polegate
East Sussex
BN26 5LX
Copperstone Projects Limited
Profit and Loss Account for the Year Ended 31 May 2020
Note |
Total |
Total |
|
Turnover |
|
- |
|
Cost of sales |
( |
- |
|
Gross loss |
( |
- |
|
Administrative expenses |
( |
- |
|
Operating loss |
( |
- |
|
Loss before tax |
( |
- |
|
Loss for the financial year |
( |
- |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Copperstone Projects Limited
Statement of Comprehensive Income for the Year Ended 31 May 2020
Note |
2020 |
2019 |
|
Loss for the year |
( |
- |
|
Total comprehensive income for the year |
( |
- |
Copperstone Projects Limited
(Registration number: 11363481)
Balance Sheet as at 31 May 2020
Note |
2020 |
2019 |
|
Fixed assets |
|||
Tangible assets |
|
- |
|
Current assets |
|||
Stocks |
|
- |
|
Debtors |
|
- |
|
Cash at bank and in hand |
|
- |
|
|
- |
||
Creditors: Amounts falling due within one year |
( |
|
|
Net current (liabilities)/assets |
( |
|
|
Total assets less current liabilities |
( |
|
|
Creditors: Amounts falling due after more than one year |
( |
- |
|
Net (liabilities)/assets |
( |
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
( |
- |
|
Total equity |
( |
|
For the financial year ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his 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.
Copperstone Projects Limited
(Registration number: 11363481)
Balance Sheet as at 31 May 2020
Approved and authorised by the
.........................................
Mr A Hennesy
Director
Copperstone Projects Limited
Statement of Changes in Equity for the Year Ended 31 May 2020
Share capital |
Profit and loss account |
Total |
|
At 1 June 2019 |
|
- |
|
Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 31 May 2020 |
|
( |
( |
Share capital |
Total |
|
At 1 June 2018 |
|
|
At 31 May 2019 |
|
|
Copperstone Projects Limited
Notes to the Financial Statements for the Year Ended 31 May 2020
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
Tangible assets
Tangible assets are stated in the statement of financial position 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:
Copperstone Projects Limited
Notes to the Financial Statements for the Year Ended 31 May 2020
Asset class |
Depreciation method and rate |
Plant & Machinery |
25% reducing balance |
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.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Copperstone Projects Limited
Notes to the Financial Statements for the Year Ended 31 May 2020
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Copperstone Projects Limited
Notes to the Financial Statements for the Year Ended 31 May 2020
Tangible assets |
Other property, plant and equipment |
Total |
|
Cost or valuation |
||
Additions |
|
|
At 31 May 2020 |
|
|
Depreciation |
||
Carrying amount |
||
At 31 May 2020 |
|
|
Stocks |
2020 |
2019 |
|
Raw materials and consumables |
|
- |
Debtors |
2020 |
2019 |
|
Trade debtors |
|
- |
Other debtors |
|
- |
Total current trade and other debtors |
|
- |
Creditors |
Copperstone Projects Limited
Notes to the Financial Statements for the Year Ended 31 May 2020
Note |
2020 |
2019 |
|
Due within one year |
|||
Trade creditors |
|
- |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
( |
|
Taxation and social security |
|
- |
|
Other creditors |
|
- |
|
|
( |
||
Due after one year |
|||
Loans and borrowings |
|
- |
Loans and borrowings |
2020 |
2019 |
|
Non-current loans and borrowings |
||
Bank borrowings |
|
- |
Copperstone Projects Limited
Detailed Profit and Loss Account for the Year Ended 31 May 2020
2020 |
2019 |
|
Turnover (analysed below) |
20,773 |
- |
Cost of sales (analysed below) |
(27,133) |
- |
Gross loss |
(6,360) |
- |
Gross profit (%) |
(30.62)% |
0% |
Administrative expenses |
||
Employment costs (analysed below) |
(9,216) |
- |
Establishment costs (analysed below) |
(15,418) |
- |
General administrative expenses (analysed below) |
(54,111) |
- |
Finance charges (analysed below) |
(2,401) |
- |
(81,146) |
- |
|
Operating loss |
(87,506) |
- |
Loss before tax |
(87,506) |
- |
Copperstone Projects Limited
Detailed Profit and Loss Account for the Year Ended 31 May 2020
2020 |
2019 |
Turnover |
||
Sales |
20,715 |
- |
Other Revenue |
58 |
- |
20,773 |
- |
Cost of sales |
||
COGS- Materials & Tools |
19,661 |
- |
Waste disposal |
291 |
- |
Sub contractors |
14,681 |
- |
Closing stock |
(7,500) |
- |
27,133 |
- |
Employment costs |
||
Wages and Salaries |
(7,061) |
- |
Directors' Remuneration |
(2,083) |
- |
Employers National Insurance |
(72) |
- |
(9,216) |
- |
Establishment costs |
||
Light, Power, Heating |
(209) |
- |
Rent and Rates |
(13,101) |
- |
Repairs & Maintenance |
(25) |
- |
Office Expense |
(2,083) |
- |
(15,418) |
- |
General administrative expenses |
||
Advertising & Marketing |
(2,886) |
- |
Audit & Accountancy fees |
(1,475) |
- |
Cleaning |
(921) |
- |
Consulting |
(1,575) |
- |
Donations |
(15) |
- |
Entertainment |
(973) |
- |
Postage, Freight & Courier |
(2,903) |
- |
General Expenses |
(756) |
- |
Insurance |
(319) |
- |
Motor Vehicle Expenses |
(8,820) |
- |
Travel and Accommodation |
(10,971) |
- |
Printing & Stationery |
(1,092) |
- |
IT Software and Consumables |
(4,518) |
- |
Copperstone Projects Limited
Detailed Profit and Loss Account for the Year Ended 31 May 2020
Fines |
(55) |
- |
Staff Training |
(14) |
- |
Subscriptions & Membership |
(6,730) |
- |
Telephone & Internet |
(1,926) |
- |
Subsistence |
(6,452) |
- |
Professional Fees |
(51) |
- |
Health and Safety |
(1,659) |
- |
(54,111) |
- |
Finance charges |
||
Bank Fees |
(2,401) |
- |