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Registration number: 08464581

Cotswold Raw Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Cotswold Raw Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Cotswold Raw Limited

Company Information

Directors

A W Brierley

M D Lewis

C J Brierley

S Appell

Company secretary

M D Lewis

Registered office

Unit 28A
Weston Industrial Estate
Honeybourne
Evesham
Worcestershire
WR11 7QB

 

Cotswold Raw Limited

(Registration number: 08464581)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

72,992

60,100

Tangible assets

5

600,034

562,027

Investments

6

3

-

Debtors

8

124,374

-

 

797,403

622,127

Current assets

 

Stocks

7

247,428

197,559

Debtors

8

340,990

319,123

Cash at bank and in hand

 

129,376

72,187

 

717,794

588,869

Creditors: Amounts falling due within one year

9

(596,058)

(647,757)

Net current assets/(liabilities)

 

121,736

(58,888)

Total assets less current liabilities

 

919,139

563,239

Creditors: Amounts falling due after more than one year

9

(119,505)

(99,592)

Net assets

 

799,634

463,647

Capital and reserves

 

Called up share capital

11

170

170

Share premium reserve

1,253,810

1,253,810

Retained earnings

(454,346)

(790,333)

Shareholders' funds

 

799,634

463,647

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Cotswold Raw Limited

(Registration number: 08464581)
Balance Sheet as at 31 March 2023

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 November 2023 and signed on its behalf by:
 

.........................................
A W Brierley
Director

 

Cotswold Raw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 28A
Weston Industrial Estate
Honeybourne
Evesham
Worcestershire
WR11 7QB
United Kingdom

These financial statements were authorised for issue by the Board on 23 November 2023.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Cotswold Raw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tax

Tax at the applicable rate is based on taxable profit for the year. Taxable profit differs from reported profit because of items of income and expense that are taxable or deductible in different periods and items that are never taxable or deductible.

Deferred tax is recognised on timing differences between the carrying value of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for deductible timing differences to the extent that it is probable that taxable profits will be available against which those timing differences can be utilised.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any accumulated depreciation and impairment losses.

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:

Asset class

Depreciation method and rate

Office Equipment

20% Reducing Balance

Plant & Machinery

10% Reducing Balance

Motor Vehicles

20% Reducing Balance

Intangible assets

Intangible assets (including licences and patents) are stated at cost less amortisation. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intellectual Property - Brand Image

20% Straight Line

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2022 - 20).

 

Cotswold Raw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Total
£

Cost or valuation

At 1 April 2022

75,457

Additions

17,275

At 31 March 2023

92,732

Amortisation

At 1 April 2022

15,357

Amortisation charge

4,383

At 31 March 2023

19,740

Carrying amount

At 31 March 2023

72,992

At 31 March 2022

60,100

 

Cotswold Raw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

482,874

71,400

152,487

706,761

Additions

105,152

9,713

46,432

161,297

Disposals

(13,522)

-

(34,354)

(47,876)

At 31 March 2023

574,504

81,113

164,565

820,182

Depreciation

At 1 April 2022

94,645

25,336

24,753

144,734

Charge for the year

55,934

9,685

26,121

91,740

Eliminated on disposal

(6,306)

-

(10,020)

(16,326)

At 31 March 2023

144,273

35,021

40,854

220,148

Carrying amount

At 31 March 2023

430,231

46,092

123,711

600,034

At 31 March 2022

388,229

46,064

127,734

562,027

6

Investments

2023
£

2022
£

Investments in subsidiaries

3

-

Subsidiaries

£

Cost or valuation

Additions

3

Provision

Carrying amount

At 31 March 2023

3

 

Cotswold Raw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Cotswold Raw Cat Food Ltd

Unit 28a Weston Industrial Estate, Honeybourne, Evesham, England, WR11 7QB

United Kingdom

Ordinary shares

100%

100%

Cotswold Fresh Limited

Unit 28a Weston Industrial Estate, Honeybourne, Evesham, England, WR11 7QB

United Kingdom

Ordinary shares

100%

100%

Cotswold Raw Dog Food Limited

Unit 28a Weston Industrial Estate, Honeybourne, Evesham, England, WR11 7QB

United Kingdom

Ordinary shares

100%

100%

7

Stocks

2023
£

2022
£

Raw materials, work in progress and finished goods

247,428

197,559

8

Debtors

Current

2023
£

2022
£

Trade debtors

270,512

204,728

Prepayments

40,195

55,696

Other debtors

30,283

58,699

 

340,990

319,123

 

Cotswold Raw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Non-current

2023
£

2022
£

Other debtors

124,374

-

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

103,294

270,706

Trade creditors

 

364,312

307,504

Taxation and social security

 

67,767

35,464

Accruals and deferred income

 

27,218

21,728

Other creditors

 

33,467

12,355

 

596,058

647,757

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

119,505

99,592


The company has granted an all assets debenture to secure its borrowings from National Westminster Bank Plc.

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

21,666

31,666

HP Liabilities

97,839

67,926

119,505

99,592

 

Cotswold Raw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

10,000

Hire purchase contracts

53,694

67,406

Other borrowings

39,600

193,300

103,294

270,706

Bank borrowings

The "Bounce Back" Loan is denominated in GBP with a nominal interest rate of 2.5%, and the final instalment is due on 11 May 2026. The carrying amount at year end is £31,666 (2022 - £41,666).

11

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £0.01 each

16,996

170

16,996

170