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REGISTERED NUMBER: 06561355 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

COTMER STORAGE LIMITED

COTMER STORAGE LIMITED (REGISTERED NUMBER: 06561355)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COTMER STORAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr A T Oven





REGISTERED OFFICE: 54 Thorpe Road
Norwich
Norfolk
NR1 1RY





REGISTERED NUMBER: 06561355 (England and Wales)





ACCOUNTANTS: Berry & Warren Ltd
Chartered Accountants
54 Thorpe Road
Norwich
Norfolk
NR1 1RY

COTMER STORAGE LIMITED (REGISTERED NUMBER: 06561355)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,028,792 2,022,886
Investments 6 10,275 10,019
1,039,067 2,032,905

CURRENT ASSETS
Stocks 10,000 10,000
Debtors 7 1,769,158 328,029
Cash at bank and in hand 144,681 280,765
1,923,839 618,794
CREDITORS
Amounts falling due within one year 8 340,782 388,456
NET CURRENT ASSETS 1,583,057 230,338
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,622,124

2,263,243

CREDITORS
Amounts falling due after more than one
year

9

(43,512

)

(813,721

)

PROVISIONS FOR LIABILITIES (285,650 ) (225,826 )
NET ASSETS 2,292,962 1,223,696

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,292,862 1,223,596
2,292,962 1,223,696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

COTMER STORAGE LIMITED (REGISTERED NUMBER: 06561355)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 October 2023 and were signed by:





Mr A T Oven - Director


COTMER STORAGE LIMITED (REGISTERED NUMBER: 06561355)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Cotmer Storage 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

The directors have considered the company's position at the time of signing the financial statements. After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The following criteria must also be met before revenue is recognised:

Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of the company's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of income and retained earnings over its useful economic life of 5 years.

COTMER STORAGE LIMITED (REGISTERED NUMBER: 06561355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Land and buildings - 2% straight line
Containers - 15% reducing balance
Plant and machinery - 25% straight line
Fixtures and fittings - 25% straight line
Motor vehicles - 20% reducing balance
Computer equipment - 25% straight line

The assets' residual values , useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and retained earnings.

Investments

Investments in unlisted companies are measured at cost less accumulated impairment.

Stocks
Stocks 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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties.


COTMER STORAGE LIMITED (REGISTERED NUMBER: 06561355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 39 ) .

COTMER STORAGE LIMITED (REGISTERED NUMBER: 06561355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 55,090
AMORTISATION
At 1 April 2022
and 31 March 2023 55,090
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Land and Plant and
buildings Containers machinery
£    £    £   
COST
At 1 April 2022 1,080,467 463,667 20,053
Additions - 24,610 -
Disposals (1,080,467 ) - -
At 31 March 2023 - 488,277 20,053
DEPRECIATION
At 1 April 2022 87,168 216,010 17,315
Charge for year 16,208 35,609 1,105
Eliminated on disposal (103,376 ) - -
At 31 March 2023 - 251,619 18,420
NET BOOK VALUE
At 31 March 2023 - 236,658 1,633
At 31 March 2022 993,299 247,657 2,738

COTMER STORAGE LIMITED (REGISTERED NUMBER: 06561355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 69,876 1,297,694 62,899 2,994,656
Additions - 196,150 3,982 224,742
Disposals - (128,895 ) - (1,209,362 )
At 31 March 2023 69,876 1,364,949 66,881 2,010,036
DEPRECIATION
At 1 April 2022 29,110 566,554 55,613 971,770
Charge for year 15,517 148,316 3,525 220,280
Eliminated on disposal - (107,430 ) - (210,806 )
At 31 March 2023 44,627 607,440 59,138 981,244
NET BOOK VALUE
At 31 March 2023 25,249 757,509 7,743 1,028,792
At 31 March 2022 40,766 731,140 7,286 2,022,886

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 540,462
Transfer to ownership (156,255 )
At 31 March 2023 384,207
DEPRECIATION
At 1 April 2022 256,374
Charge for year 41,379
Transfer to ownership (98,721 )
At 31 March 2023 199,032
NET BOOK VALUE
At 31 March 2023 185,175
At 31 March 2022 284,088

COTMER STORAGE LIMITED (REGISTERED NUMBER: 06561355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022 10,019
Additions 256
At 31 March 2023 10,275
NET BOOK VALUE
At 31 March 2023 10,275
At 31 March 2022 10,019

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 77,326 94,056
Amounts owed by group undertakings 1,419,465 -
Other debtors 272,367 233,973
1,769,158 328,029

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 58,398
Hire purchase contracts 55,482 73,604
Trade creditors 60,339 37,352
Taxation and social security 208,759 195,564
Other creditors 16,202 23,538
340,782 388,456

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 713,098
Hire purchase contracts 43,512 100,623
43,512 813,721

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 771,496
Hire purchase contracts 98,994 174,227
98,994 945,723

COTMER STORAGE LIMITED (REGISTERED NUMBER: 06561355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr A T Oven
Balance outstanding at start of year 196,009 -
Amounts advanced 126,669 196,009
Amounts repaid (100,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 222,678 196,009

12. RELATED PARTY DISCLOSURES

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.

13. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Cotmer Holdings Limited and its registered office is 54 Thorpe Road, Norwich, NR1 1RY. The ultimate controlling party of the parent company is Mr A T Oven.