Company Registration No. 9915382 (England and Wales)
Cotswold Panel Products Limited
Unaudited accounts
for the year ended 31 March 2025
Cotswold Panel Products Limited
Statement of financial position
as at 31 March 2025
Tangible assets
118,158
77,430
Cash at bank and in hand
17,818
3,869
Creditors: amounts falling due within one year
(191,743)
(316,226)
Net current liabilities
(72,158)
(212,997)
Total assets less current liabilities
46,000
(135,567)
Creditors: amounts falling due after more than one year
(70,252)
(52,829)
Net liabilities
(24,252)
(188,396)
Called up share capital
100
100
Profit and loss account
(24,352)
(188,496)
Shareholders' funds
(24,252)
(188,396)
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 April 2025 and were signed on its behalf by
Martin Clarke
Director
Company Registration No. 9915382
Cotswold Panel Products Limited
Notes to the Accounts
for the year ended 31 March 2025
Cotswold Panel Products Limited is a private company, limited by shares, registered in England and Wales, registration number 9915382. The registered office is Unit A Dingley Business Park, Buckle Street, Honeybourne, Evesham , WR11 7QE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
15% straight line
Plant & machinery
15% straight line
Motor vehicles
25% straight line
Fixtures & fittings
15% straight line
Computer equipment
25% straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Cotswold Panel Products Limited
Notes to the Accounts
for the year ended 31 March 2025
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2024
17,581
370,048
15,830
7,013
3,053
413,525
Additions
-
90,703
-
-
1,220
91,923
Disposals
(17,581)
(320,873)
(15,830)
(6,443)
(1,107)
(361,834)
At 31 March 2025
-
139,878
-
570
3,166
143,614
At 1 April 2024
17,484
302,536
8,174
6,614
1,287
336,095
Charge for the year
97
16,445
1,871
85
491
18,989
On disposals
(17,581)
(294,453)
(10,045)
(6,442)
(1,107)
(329,628)
At 31 March 2025
-
24,528
-
257
671
25,456
At 31 March 2025
-
115,350
-
313
2,495
118,158
At 31 March 2024
97
67,512
7,656
399
1,766
77,430
Amounts falling due within one year
Trade debtors
41,083
15,516
Deferred tax asset
17,555
58,756
Accrued income and prepayments
1,002
802
Other debtors
19,058
12,780
Cotswold Panel Products Limited
Notes to the Accounts
for the year ended 31 March 2025
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
10,000
10,000
Obligations under finance leases and hire purchase contracts
28,338
10,261
Trade creditors
80,229
120,915
Amounts owed to group undertakings and other participating interests
3,000
-
Taxes and social security
10,304
54,265
Loans from directors
(18,601)
1,471
7
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
66,395
21,636
Loans from directors
-
10,000
8
Deferred taxation
2025
2024
Accelerated capital allowances
22,450
-
Tax losses carried forward
(40,005)
(58,756)
Provision at start of year
(58,756)
(2,135)
Charged/(credited) to the profit and loss account
41,201
(56,621)
Provision at end of year
(17,555)
(58,756)
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan repayable on demand
-
18,601
-
18,601
10
Average number of employees
During the year the average number of employees was 9 (2024: 8).