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REGISTERED NUMBER: 12333518 (England and Wales)











GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

COUSINS TRADING GROUP LIMITED

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 18


COUSINS TRADING GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: A Cousins





REGISTERED OFFICE: 7 Galliford Road Industrial Estate
Heybridge
Maldon
Essex
CM9 4XD





REGISTERED NUMBER: 12333518 (England and Wales)





AUDITORS: Sargeant Partnership Limited
Chartered Accountants
and Statutory Auditors
5 White Oak Square
London Road
Swanley
Kent
BR8 7AG

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024

The director presents his strategic report of the company and the group for the year ended 31 October 2024.

REVIEW OF BUSINESS
The company performed well during the year with strong revenue growth of £1m on the prior year. The company's bank balance has also remained healthy throughout the year and at the year end there was no reliance placed on external funding.

The directors are confident that sales for the 12 months to 31.10.2025 will continue to grow.

PRINCIPAL RISKS AND UNCERTAINTIES
The company's principal financial instruments comprise bank balances, trade creditors and trade debtors. The main purpose of these instruments is to raise funds for the company's operations and to finance the company's operations.

In the course of normal business, the company continually assesses significant risks faced and takes action to mitigate the potential impact. The following risks constitute (in the opinion of the directors) the principal risks and uncertainties currently facing the company:

Operational risks
Information technology

The company's daily operations are increasingly reliant on its information technology systems, particularly with their website sales, payment acceptance, financial control and the provision of management information. Any prolonged or significant failure of these systems could pose a risk to the effective management of the business. The company seeks to minimise the risk by maintaining strong physical control to ensure protection of hardware, software and data, resilience of payment systems.

Reputational risk
Cousins Material House Limited is part of the trading standards Buy With Confidence Scheme. The scheme was set up in response to concerns about 'rogue traders'. The scheme provides consumers with a list of local businesses which have given their commitment to trading fairly.

Forex risk
The company undertakes transactions in multiple currencies. Fluctuations in these currencies pose a risk of foreign exchange loss to the company.


COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024

KEY PERFORMANCE INDICATORS
The directors continue to examine all aspects of the business with a view to achieving profitability. Together with senior management, they monitor all other statistical information on a regular basis to ensure that they are aware of any trends and influences on profitability using relevant key performance indicators.

2024 2023

Sales growth/(decline) (1.36)% 4.90%

Gross profit 32.34% 32.18%

ON BEHALF OF THE BOARD:





A Cousins - Director


21 March 2025

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 OCTOBER 2024

The director presents his report with the financial statements of the company and the group for the year ended 31 October 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of a holding company.

DIVIDENDS
An interim dividend of 41.79012345 per share was paid on the Ordinary £0.01 £0.01 shares on 30 April 2024. No dividends were paid on any other classes of shares.

The total distribution of dividends for the year ended 31 October 2024 will be £ 338,500 .

DIRECTOR
A Cousins held office during the whole of the period from 1 November 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 OCTOBER 2024


AUDITORS
The auditors, Sargeant Partnership Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A Cousins - Director


21 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COUSINS TRADING GROUP LIMITED

Opinion
We have audited the financial statements of Cousins Trading Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 October 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COUSINS TRADING GROUP LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COUSINS TRADING GROUP LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISA's (UK).

In identifying and assessing risks of material misstatement in respect of irregularities including, fraud and non-compliance with laws and regulations, our procedures included the following:

- We obtained an understanding of the legal and regulatory frameworks applicable to the company and the sector in which they operate. We determined that the following laws and regulations were most significant: the Companies Act 2006, the UK Corporate Governance Code and UK corporate taxation laws.

- We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making inquiries to the management and directors. We corroborated our inquiries through our review of board minutes and papers provided to the audit engagement team.

- We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the audit engagement team included:

a) Identifying and assessing the design effectiveness of controls management has put in place to prevent and detect fraud;

b) Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

c) Challenging assumptions and judgements made by management in its significant accounting estimates;

d) Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations: and

e) Assessing the extent of compliance with the relevant laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COUSINS TRADING GROUP LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Joanne Brown (Senior Statutory Auditor)
for and on behalf of Sargeant Partnership Limited
Chartered Accountants
and Statutory Auditors
5 White Oak Square
London Road
Swanley
Kent
BR8 7AG

21 March 2025

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2024

2024 2023
Notes £    £   

TURNOVER 3 12,181,750 12,349,357

Cost of sales 8,241,779 8,375,378
GROSS PROFIT 3,939,971 3,973,979

Administrative expenses 1,933,504 1,544,853
OPERATING PROFIT 5 2,006,467 2,429,126

Interest receivable and similar income 85,268 26,254
2,091,735 2,455,380

Interest payable and similar expenses 6 40,350 54,073
PROFIT BEFORE TAXATION 2,051,385 2,401,307

Tax on profit 7 522,542 549,885
PROFIT FOR THE FINANCIAL
YEAR

1,528,843

1,851,422
Profit attributable to:
Owners of the parent 1,528,843 1,851,422

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,528,843 1,851,422


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR

1,528,843

1,851,422

Total comprehensive income attributable to:
Owners of the parent 1,528,843 1,851,422

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

CONSOLIDATED BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 3,887,097 3,969,254
Investments 12 - -
3,887,097 3,969,254

CURRENT ASSETS
Stocks 13 5,703,453 5,678,682
Debtors 14 401,008 205,878
Cash at bank and in hand 4,327,408 3,825,523
10,431,869 9,710,083
CREDITORS
Amounts falling due within one year 15 1,055,967 1,612,680
NET CURRENT ASSETS 9,375,902 8,097,403
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,262,999

12,066,657

PROVISIONS FOR LIABILITIES 16 86,719 80,720
NET ASSETS 13,176,280 11,985,937

CAPITAL AND RESERVES
Called up share capital 17 120 120
Retained earnings 18 13,176,160 11,985,817
SHAREHOLDERS' FUNDS 13,176,280 11,985,937

The financial statements were approved by the director and authorised for issue on 21 March 2025 and were signed by:





A Cousins - Director


COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

COMPANY BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 2,379,270 2,429,360
Investments 12 120 120
2,379,390 2,429,480

CURRENT ASSETS
Debtors 14 6,253,367 6,000,000
Cash at bank 2,284,723 2,092,477
8,538,090 8,092,477
CREDITORS
Amounts falling due within one year 15 634,751 585,193
NET CURRENT ASSETS 7,903,339 7,507,284
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,282,729

9,936,764

CAPITAL AND RESERVES
Called up share capital 17 120 120
Retained earnings 18 10,282,609 9,936,644
SHAREHOLDERS' FUNDS 10,282,729 9,936,764

Company's profit for the financial year 684,465 2,075,117

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

The financial statements were approved by the director and authorised for issue on 21 March 2025 and were signed by:





A Cousins - Director


COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 November 2022 120 10,408,195 10,408,315

Changes in equity
Dividends - (273,800 ) (273,800 )
Total comprehensive income - 1,851,422 1,851,422
Balance at 31 October 2023 120 11,985,817 11,985,937

Changes in equity
Dividends - (338,500 ) (338,500 )
Total comprehensive income - 1,528,843 1,528,843
Balance at 31 October 2024 120 13,176,160 13,176,280

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 November 2022 120 8,135,327 8,135,447

Changes in equity
Dividends - (273,800 ) (273,800 )
Total comprehensive income - 2,075,117 2,075,117
Balance at 31 October 2023 120 9,936,644 9,936,764

Changes in equity
Dividends - (338,500 ) (338,500 )
Total comprehensive income - 684,465 684,465
Balance at 31 October 2024 120 10,282,609 10,282,729

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,328,445 2,180,739
Interest paid (40,350 ) (54,073 )
Tax paid (523,125 ) (411,548 )
Net cash from operating activities 764,970 1,715,118

Cash flows from investing activities
Purchase of tangible fixed assets (30,242 ) -
Interest received 85,268 26,254
Net cash from investing activities 55,026 26,254

Cash flows from financing activities
Amount introduced by directors 20,389 -
Amount withdrawn by directors - (29,780 )
Equity dividends paid (338,500 ) (273,800 )
Net cash from financing activities (318,111 ) (303,580 )

Increase in cash and cash equivalents 501,885 1,437,792
Cash and cash equivalents at
beginning of year

2

3,825,523

2,387,731

Cash and cash equivalents at end of
year

2

4,327,408

3,825,523

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 2,051,385 2,401,307
Depreciation charges 112,399 152,617
Finance costs 40,350 54,073
Finance income (85,268 ) (26,254 )
2,118,866 2,581,743
Increase in stocks (24,771 ) (363,242 )
(Increase)/decrease in trade and other debtors (195,130 ) 88,753
Decrease in trade and other creditors (570,520 ) (126,515 )
Cash generated from operations 1,328,445 2,180,739

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 October 2024
31/10/24 1/11/23
£    £   
Cash and cash equivalents 4,327,408 3,825,523
Year ended 31 October 2023
31/10/23 1/11/22
£    £   
Cash and cash equivalents 3,825,523 2,387,731


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/11/23 Cash flow At 31/10/24
£    £    £   
Net cash
Cash at bank and in hand 3,825,523 501,885 4,327,408
3,825,523 501,885 4,327,408
Total 3,825,523 501,885 4,327,408

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Cousins Trading Group 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 General Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The financial statements consolidate the accounts of Cousins Trading Group Limited and Cousins Material House Limited. (subsidiary).

These conform to group accounting policies.

Related party exemption
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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the group's accounting policies, the directors are 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.

There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities in these accounts.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% per annum on cost and not provided
Long leasehold - 2% per annum on cost
Fixtures and fittings - 25% per annum on cost and 25% per annum on reducing balance
Computer equipment - 33% per annum on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Functional currency
The functional currency of the Company is the Great British Pound ("GBP "). And the figures are shown to the nearest pound.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short-term deposits with an original maturity date of three months or less.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market for the year ended 31 October 2023 is given below:

£   
United Kingdom 8,595,339
Rest of the World 3,754,018
12,349,357

This analysis is not considered to be applicable to the year ended 31 October 2024.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,081,770 1,250,390
Social security costs 12,938 6,378
Other pension costs 74,500 68,317
1,169,208 1,325,085

The average number of employees during the year was as follows:
2024 2023

Director 1 1

The average number of employees by undertakings that were proportionately consolidated during the year was 30 (2023 - 33 ) .

2024 2023
£    £   
Director's remuneration 111,950 64,400

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 112,399 125,119
Goodwill amortisation - 27,498
Auditors' remuneration 28,322 23,800
Foreign exchange differences (12,786 ) (12,310 )

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Overdue tax 1,707 -
Interest payable 38,643 54,073
40,350 54,073

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 516,543 552,524

Deferred tax 5,999 (2,639 )
Tax on profit 522,542 549,885

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 2,051,385 2,401,307
Profit multiplied by the standard rate of corporation tax in the UK
of 25 % (2023 - 25 %)

512,846

600,327

Effects of:
Expenses not deductible for tax purposes 1,286 1,037
Depreciation in excess of capital allowances 2,411 17,923
Marginal Relief - (61,488 )
Deferred Tax 5,999 (2,639 )
Increase in tax debtor - (5,275 )
Total tax charge 522,542 549,885

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim - 110,000
D Ordinary £0.01 shares of £0.01 each
Interim - 40,950
E Ordinary £0.01 shares of £0.01 each
Interim - 40,950
F Ordinary £0.01 shares of £0.01 each
Interim - 40,950
G Ordinary £0.01 shares of £0.01 each
Interim - 40,950
Ordinary £0.01 shares of £0.01 each
Interim 338,500 -
338,500 273,800

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 550,002
AMORTISATION
At 1 November 2023
and 31 October 2024 550,002
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

11. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Long and Computer
property leasehold fittings equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 2,504,495 1,495,693 191,041 55,801 4,247,030
Additions - - - 30,242 30,242
At 31 October 2024 2,504,495 1,495,693 191,041 86,043 4,277,272
DEPRECIATION
At 1 November 2023 75,135 44,871 114,842 42,928 277,776
Charge for year 50,090 29,914 20,453 11,942 112,399
At 31 October 2024 125,225 74,785 135,295 54,870 390,175
NET BOOK VALUE
At 31 October 2024 2,379,270 1,420,908 55,746 31,173 3,887,097
At 31 October 2023 2,429,360 1,450,822 76,199 12,873 3,969,254

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

11. TANGIBLE FIXED ASSETS - continued

Company
Freehold
property
£   
COST
At 1 November 2023
and 31 October 2024 2,504,495
DEPRECIATION
At 1 November 2023 75,135
Charge for year 50,090
At 31 October 2024 125,225
NET BOOK VALUE
At 31 October 2024 2,379,270
At 31 October 2023 2,429,360

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 November 2023
and 31 October 2024 120
NET BOOK VALUE
At 31 October 2024 120
At 31 October 2023 120


13. STOCKS

Group
2024 2023
£    £   
Stocks 5,703,453 5,678,682

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

14. DEBTORS

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year:
Trade debtors 90,617 144,483 - -
Other debtors 253,367 - 253,367 -
Staff Loans 1,850 12,135 - -
Prepayments 55,174 49,260 - -
401,008 205,878 253,367 -

Amounts falling due after more than one year:
Amounts owed by group undertakings - - 6,000,000 6,000,000

Aggregate amounts 401,008 205,878 6,253,367 6,000,000

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade creditors 379,790 494,812 68 68
Amounts owed to group undertakings - - 489,952 51,309
Tax 360,370 366,952 132,018 102,125
Social security and other taxes 21,711 23,175 - -
VAT 150,972 124,438 6,713 6,800
Other creditors 9,277 426,199 - 418,891
Credit Card 1,855 (93 ) - -
Directors' loan accounts 46,646 26,257 - -
Accruals and deferred income 85,346 150,940 6,000 6,000
1,055,967 1,612,680 634,751 585,193

16. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 86,719 80,720

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

16. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 November 2023 80,720
Accelerated capital allowances 5,999
Balance at 31 October 2024 86,719

Deferred tax all relates to Cousins Material House Limited.

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
NIL Ordinary £1 - 80
NIL A Ordinary £1 - 20
NIL B Ordinary £1 - 2
NIL C Ordinary £1 - 2
375 D Ordinary £0.01 £0.01 4 4
375 E Ordinary £0.01 £0.01 4 4
375 F Ordinary £0.01 £0.01 4 4
375 G Ordinary £0.01 £0.01 4 4
8,100 Ordinary £0.01 £0.01 80 -
2,000 A Ordinary £0.01 £0.01 20 -
200 B Ordinary £0.01 £0.01 2 -
200 C Ordinary £0.01 £0.01 2 -
120 120

Allotted, Issued and fully paid:


Number:

Class:
Nominal
Value:

2023

2022

81Ordinary£18181
20A Ordinary£12020
2B Ordinary£122
2C Ordinary£122
375D Ordinary £0.01£0.013.753.75
375E Ordinary £0.01£0.013.753.75
375F Ordinary £0.01£0.013.753.75
375G Ordinary £0.01£0.013.753.75

120120

COUSINS TRADING GROUP LIMITED (REGISTERED NUMBER: 12333518)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

18. RESERVES

Group
Retained
earnings
£   

At 1 November 2023 11,985,817
Profit for the year 1,528,843
Dividends (338,500 )
At 31 October 2024 13,176,160

Company
Retained
earnings
£   

At 1 November 2023 9,936,644
Profit for the year 684,465
Dividends (338,500 )
At 31 October 2024 10,282,609


19. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the company owed Mr A Cousins £46,646 (2023: £26,257).

20. RELATED PARTY DISCLOSURES

At the balance sheet date the company owes C Cousins £nil (2023: £418,891)

21. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Cousins by virtue of his shareholding.