Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312025-05-142024-10-312025-05-14172023-11-01falseNo description of principal activity18truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01181327 2023-11-01 2024-10-31 01181327 2022-11-01 2023-10-31 01181327 2024-10-31 01181327 2023-10-31 01181327 2022-11-01 01181327 c:Director2 2023-11-01 2024-10-31 01181327 d:PlantMachinery 2023-11-01 2024-10-31 01181327 d:PlantMachinery 2024-10-31 01181327 d:PlantMachinery 2023-10-31 01181327 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 01181327 d:OfficeEquipment 2023-11-01 2024-10-31 01181327 d:OfficeEquipment 2024-10-31 01181327 d:OfficeEquipment 2023-10-31 01181327 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 01181327 d:ComputerEquipment 2023-11-01 2024-10-31 01181327 d:ComputerEquipment 2024-10-31 01181327 d:ComputerEquipment 2023-10-31 01181327 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 01181327 d:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 01181327 d:OtherPropertyPlantEquipment 2024-10-31 01181327 d:OtherPropertyPlantEquipment 2023-10-31 01181327 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 01181327 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 01181327 d:CurrentFinancialInstruments 2024-10-31 01181327 d:CurrentFinancialInstruments 2023-10-31 01181327 d:CurrentFinancialInstruments 1 2024-10-31 01181327 d:CurrentFinancialInstruments 1 2023-10-31 01181327 d:Non-currentFinancialInstruments 2024-10-31 01181327 d:Non-currentFinancialInstruments 2023-10-31 01181327 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 01181327 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 01181327 d:Non-currentFinancialInstruments d:AfterOneYear 2024-10-31 01181327 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 01181327 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-10-31 01181327 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 01181327 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-10-31 01181327 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-10-31 01181327 d:ShareCapital 2024-10-31 01181327 d:ShareCapital 2023-10-31 01181327 d:CapitalRedemptionReserve 2024-10-31 01181327 d:CapitalRedemptionReserve 2023-10-31 01181327 d:OtherMiscellaneousReserve 2024-10-31 01181327 d:OtherMiscellaneousReserve 2023-10-31 01181327 d:RetainedEarningsAccumulatedLosses 2024-10-31 01181327 d:RetainedEarningsAccumulatedLosses 2023-10-31 01181327 c:OrdinaryShareClass1 2023-11-01 2024-10-31 01181327 c:OrdinaryShareClass1 2024-10-31 01181327 c:OrdinaryShareClass1 2023-10-31 01181327 c:FRS102 2023-11-01 2024-10-31 01181327 c:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 01181327 c:FullAccounts 2023-11-01 2024-10-31 01181327 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 01181327 d:WithinOneYear 2024-10-31 01181327 d:WithinOneYear 2023-10-31 01181327 d:HirePurchaseContracts d:WithinOneYear 2024-10-31 01181327 d:HirePurchaseContracts d:WithinOneYear 2023-10-31 01181327 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-10-31 01181327 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-10-31 01181327 d:AcceleratedTaxDepreciationDeferredTax 2024-10-31 01181327 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 01181327 d:TaxLossesCarry-forwardsDeferredTax 2024-10-31 01181327 d:TaxLossesCarry-forwardsDeferredTax 2023-10-31 01181327 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-10-31 01181327 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-10-31 01181327 d:LeasedAssetsHeldAsLessee 2024-10-31 01181327 d:LeasedAssetsHeldAsLessee 2023-10-31 01181327 f:PoundSterling 2023-11-01 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01181327









COTSWOLD TOOL AND PRESS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
COTSWOLD TOOL AND PRESS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COTSWOLD TOOL AND PRESS LIMITED
FOR THE YEAR ENDED 31 OCTOBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cotswold Tool and Press Limited for the year ended 31 October 2024 which comprise the Statement of comprehensive income, the Balance sheet 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 director of Cotswold Tool and Press Limited in accordance with the terms of our engagement letter dated 16th August 2004Our work has been undertaken solely to prepare for your approval the financial statements of Cotswold Tool and Press Limited and state those matters that we have agreed to state to the director of Cotswold Tool and Press Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cotswold Tool and Press Limited and its director for our work or for this report. 

It is your duty to ensure that Cotswold Tool and Press 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 Cotswold Tool and Press Limited. You consider that Cotswold Tool and Press Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Cotswold Tool and Press 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.

  





The Wiggin Partnership Ltd
 
Chartered Accountants
  
14 May 2025
Page 1

 
COTSWOLD TOOL AND PRESS LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2024

2024
2023
Note
£
£

  

Turnover
  
1,272,414
1,525,683

Cost of sales
  
(1,038,497)
(1,276,575)

Gross profit
  
233,917
249,108

Administrative expenses
  
(170,379)
(203,577)

Other operating income
  
37,860
-

Operating profit
  
101,398
45,531

Interest payable and expenses
  
(56,810)
(47,048)

Profit/(loss) before tax
  
44,588
(1,517)

Tax on profit/(loss)
  
(3,726)
407

Profit/(loss) for the financial year
  
40,862
(1,110)

Other comprehensive income for the year
  

Total comprehensive income for the year
  
40,862
(1,110)

The notes on pages 5 to 14 form part of these financial statements.

Page 2

 
COTSWOLD TOOL AND PRESS LIMITED
REGISTERED NUMBER: 01181327

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
190,697
238,339

  
190,697
238,339

Current assets
  

Stocks
 5 
205,062
165,265

Debtors: amounts falling due within one year
 6 
330,843
261,414

Cash at bank and in hand
 7 
49,006
12,472

  
584,911
439,151

Creditors: amounts falling due within one year
 8 
(609,953)
(523,983)

Net current liabilities
  
 
 
(25,042)
 
 
(84,832)

Total assets less current liabilities
  
165,655
153,507

Creditors: amounts falling due after more than one year
 9 
(59,660)
(88,374)

  

Net assets
  
105,995
65,133


Capital and reserves
  

Called up share capital 
 13 
61
61

Capital redemption reserve
  
50
50

Other reserves
  
73,188
73,188

Profit and loss account
  
32,696
(8,166)

  
105,995
65,133


Page 3

 
COTSWOLD TOOL AND PRESS LIMITED
REGISTERED NUMBER: 01181327
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

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

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 May 2025.


Mr M D Jones
Director

The notes on pages 5 to 14 form part of these financial statements.

Page 4

 
COTSWOLD TOOL AND PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Cotswold Tool and Press Limited, a pivate company limited by shares, is incorporated and domiciled in England and Wales and has its registered office and principal place of business at Bromag Industrial Estate, Downs Road, Witney, Oxfordshire, OX29 0SR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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 when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 5

 
COTSWOLD TOOL AND PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

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.

Page 6

 
COTSWOLD TOOL AND PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
15% Reducing balance
Office equipment
-
15% Reducing balance
Computer equipment
-
33% Reducing balance
Property improvements
-
10% 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 profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

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.

 
2.11

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.

Page 7

 
COTSWOLD TOOL AND PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2023 - 18).


4.


Tangible fixed assets





Plant & machinery
Office equipment
Computer equipment
Improvements to property
Total

£
£
£
£
£



Cost or valuation


At 1 November 2023
1,117,504
16,725
93,573
53,590
1,281,392


Additions
6,504
-
-
-
6,504


Disposals
(37,358)
-
-
-
(37,358)



At 31 October 2024

1,086,650
16,725
93,573
53,590
1,250,538



Depreciation


At 1 November 2023
909,416
12,835
81,650
39,151
1,043,052


Charge for the year on owned assets
32,707
583
3,205
1,906
38,401


Disposals
(21,611)
-
-
-
(21,611)



At 31 October 2024

920,512
13,418
84,855
41,057
1,059,842



Net book value



At 31 October 2024
166,138
3,307
8,718
12,533
190,696



At 31 October 2023
208,088
3,890
11,923
14,438
238,339

Page 8

 
COTSWOLD TOOL AND PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
88,641
105,144

88,641
105,144


5.


Stocks

2024
2023
£
£

Raw materials and consumables
205,062
165,265

205,062
165,265


Page 9

 
COTSWOLD TOOL AND PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Debtors

2024
2023
£
£


Factored debts
248,460
178,333

Other debtors
14,903
12,981

Prepayments and accrued income
30,238
29,132

Deferred taxation
37,242
40,968

330,843
261,414









7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
49,006
12,472

49,006
12,472


Page 10

 
COTSWOLD TOOL AND PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
63,688
30,500

Other loans
5,133
11,520

Trade creditors
166,443
169,330

Other taxation and social security
69,355
40,480

Obligations under finance lease and hire purchase contracts
28,326
66,154

Proceeds of factored debts
233,226
159,534

Other creditors
20,440
27,049

Accruals and deferred income
23,342
19,416

609,953
523,983


2024
2023
£
£

Other taxation and social security

PAYE/NI control
8,377
4,206

VAT control
60,978
36,274

69,355
40,480



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
20,333
50,833

Other loans
-
5,132

Net obligations under finance leases and hire purchase contracts
39,327
32,409

59,660
88,374


Page 11

 
COTSWOLD TOOL AND PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
63,688
30,500

Other loans
5,133
11,520


68,821
42,020

Amounts falling due 1-2 years

Bank loans
20,333
30,500

Other loans
-
5,132


20,333
35,632

Amounts falling due 2-5 years

Bank loans
-
20,333


-
20,333


89,154
97,985



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
38,150
25,232

Between 1-5 years
32,975
56,773

71,125
82,005

Page 12

 
COTSWOLD TOOL AND PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

12.


Deferred taxation




2024
2023


£

£






At beginning of year
40,968
40,561


Charged to the profit or loss
(3,726)
407



At end of year
37,242
40,968

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(34,658)
(40,790)

Tax losses carried forward
71,900
81,758

37,242
40,968


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



612,500 (2023 - 612,500) Ordinary shares of £- each
61
61



14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £19,342. Contributions totalling £1,818 (2023 - £2,219) were payable to the fund at the balance sheet date and are included in creditors.

Page 13

 
COTSWOLD TOOL AND PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

15.


Commitments under operating leases

At 31 October 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
46,398
46,844

46,398
46,844


16.


Transactions with directors

During the year the company made the following advances to Mr M D Jones a director: Other advances totalling £38,497. Repayments made by M D Jones to the company during the year totalled £30,664. At the balance sheet date the directo owed the company £1,704 (2023:credit:£6,129) which is included in the other debtors. The advances and the loans were made interest free and were repayable on demand.
 


17.


Controlling party

 Mr M D Jones controls the company by virtue of controlling interest of 100% of the issued share capital.


.




Page 14