Company registration number 06988475 (England and Wales)
ADRIAN COPE PROJECT MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
PAGES FOR FILING WITH REGISTRAR
ADRIAN COPE PROJECT MANAGEMENT LIMITED
COMPANY INFORMATION
Director
Mr A Cope
Company number
06988475
Registered office
58 Darkinson Lane
Lea Town
Preston
Lancashire
PR4 0RJ
Accountants
Bishops
1 Croft Court
Plumpton Close
Whitehills Business Park
Blackpool
Lancashire
FY4 5PR
ADRIAN COPE PROJECT MANAGEMENT LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 7
The detailed profit and loss account does not form part of the financial statements
Detailed profit and loss account
ADRIAN COPE PROJECT MANAGEMENT LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ADRIAN COPE PROJECT MANAGEMENT LIMITED FOR THE YEAR ENDED 31 AUGUST 2022
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Adrian Cope Project Management Limited for the year ended 31 August 2022 which comprise, the statement of financial position 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 at https://www.icaew.com/regulation
This report is made solely to the Board of Directors of Adrian Cope Project Management Limited, as a body, in accordance with the terms of our engagement letter dated 1 September 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Adrian Cope Project Management Limited
and state those matters that we have agreed to state to the Board of Directors of Adrian Cope Project Management 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 Adrian Cope Project Management Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Adrian Cope Project Management 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 profit
of Adrian Cope Project Management Limited. You consider that Adrian Cope Project Management 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 Adrian Cope Project Management 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.
Bishops
10 March 2023
Chartered Accountants
1 Croft Court
Plumpton Close
Whitehills Business Park
Blackpool
Lancashire
FY4 5PR
ADRIAN COPE PROJECT MANAGEMENT LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 AUGUST 2022
31 August 2022
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
63,132
82,812
Current assets
Debtors
5
8,969
3,780
Investments
6
72,608
71,277
Cash at bank and in hand
77,763
100,425
159,340
175,482
Creditors: amounts falling due within one year
7
(52,987)
(33,149)
Net current assets
106,353
142,333
Total assets less current liabilities
169,485
225,145
Creditors: amounts falling due after more than one year
8
(57,130)
(73,712)
Provisions for liabilities
(11,995)
(15,734)
Net assets
100,360
135,699
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
100,358
135,697
Total equity
100,360
135,699
The director of the company has elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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.
ADRIAN COPE PROJECT MANAGEMENT LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 AUGUST 2022
31 August 2022
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 10 March 2023
Mr A Cope
Director
Company Registration No. 06988475
ADRIAN COPE PROJECT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
- 4 -
1
Accounting policies
Company information
Adrian Cope Project Management Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
58 Darkinson Lane, Lea Town, Preston, Lancashire, PR4 0RJ.
1.1
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, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates
.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on cost
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
ADRIAN COPE PROJECT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
1
Accounting policies
(Continued)
- 5 -
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.
1.5
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair
value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
2
ADRIAN COPE PROJECT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
- 6 -
4
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 September 2021
8,629
110,112
118,741
Additions
1,441
1,441
At 31 August 2022
10,070
110,112
120,182
Depreciation and impairment
At 1 September 2021
8,401
27,528
35,929
Depreciation charged in the year
475
20,646
21,121
At 31 August 2022
8,876
48,174
57,050
Carrying amount
At 31 August 2022
1,194
61,938
63,132
At 31 August 2021
228
82,584
82,812
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
3,969
3,780
Other debtors
5,000
8,969
3,780
6
Current asset investments
2022
2021
£
£
Other investments
72,608
71,277
7
Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
24,946
5,086
Other taxation and social security
8,525
8,634
Other creditors
19,516
19,429
52,987
33,149
ADRIAN COPE PROJECT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
- 7 -
8
Creditors: amounts falling due after more than one year
2022
2021
£
£
Other creditors
57,130
73,712