IRIS Accounts Production v25.1.4.42 07629419 Board of Directors 31.3.25 1.4.24 31.3.25 31.3.25 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. true true true false true true false false false false false false true false Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh076294192024-03-31076294192025-03-31076294192024-04-012025-03-31076294192023-03-31076294192023-04-012024-03-31076294192024-03-3107629419ns15:EnglandWales2024-04-012025-03-3107629419ns14:PoundSterling2024-04-012025-03-3107629419ns10:Director12024-04-012025-03-3107629419ns10:Consolidated2025-03-3107629419ns10:ConsolidatedGroupCompanyAccounts2024-04-012025-03-3107629419ns10:PrivateLimitedCompanyLtd2024-04-012025-03-3107629419ns10:Consolidatedns10:MediumEntities2024-04-012025-03-3107629419ns10:Consolidatedns10:Audited2024-04-012025-03-3107629419ns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-04-012025-03-3107629419ns10:Medium-sizedCompaniesRegimeForAccounts2024-04-012025-03-3107629419ns10:Consolidated2024-04-012025-03-3107629419ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-04-012025-03-3107629419ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2024-04-012025-03-3107629419ns10:FullAccounts2024-04-012025-03-3107629419ns5:Subsidiary12024-04-012025-03-3107629419ns5:Subsidiary22024-04-012025-03-3107629419ns5:Subsidiary32024-04-012025-03-310762941912024-04-012025-03-3107629419ns10:OrdinaryShareClass12024-04-012025-03-3107629419ns10:Director22024-04-012025-03-3107629419ns10:Director32024-04-012025-03-3107629419ns10:Director42024-04-012025-03-3107629419ns10:Director52024-04-012025-03-3107629419ns10:RegisteredOffice2024-04-012025-03-3107629419ns10:Consolidated2023-04-012024-03-3107629419ns5:CurrentFinancialInstruments2025-03-3107629419ns5:CurrentFinancialInstruments2024-03-3107629419ns5:ShareCapital2025-03-3107629419ns5:ShareCapital2024-03-3107629419ns5:RetainedEarningsAccumulatedLosses2025-03-3107629419ns5:RetainedEarningsAccumulatedLosses2024-03-3107629419ns5:ShareCapital2023-03-3107629419ns5:RetainedEarningsAccumulatedLosses2023-03-3107629419ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3107629419ns5:RetainedEarningsAccumulatedLosses2024-04-012025-03-3107629419ns5:PlantMachinery2024-04-012025-03-3107629419ns5:FurnitureFittings2024-04-012025-03-3107629419ns5:MotorVehicles2024-04-012025-03-3107629419ns5:CostValuation2024-03-31076294191ns5:Subsidiary12024-04-012025-03-3107629419ns5:Subsidiary12025-03-3107629419ns5:Subsidiary12024-03-3107629419ns5:Subsidiary12023-04-012024-03-3107629419ns5:Subsidiary232024-04-012025-03-3107629419ns5:Subsidiary22025-03-3107629419ns5:Subsidiary22024-03-3107629419ns5:Subsidiary22023-04-012024-03-31076294195ns5:Subsidiary32024-04-012025-03-3107629419ns5:Subsidiary32025-03-3107629419ns5:Subsidiary32024-03-3107629419ns5:Subsidiary32023-04-012024-03-3107629419ns5:WithinOneYearns5:CurrentFinancialInstruments2025-03-3107629419ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3107629419ns5:Non-currentFinancialInstruments2025-03-3107629419ns5:Non-currentFinancialInstruments2024-03-3107629419ns10:OrdinaryShareClass12025-03-3107629419ns5:RetainedEarningsAccumulatedLosses2024-03-31
REGISTERED NUMBER: 07629419 (England and Wales)











Group Strategic Report, Report of the Directors and

Audited

Consolidated Financial Statements

for the Year Ended 31 March 2025

for

Cousins Group Limited

Cousins Group Limited (Registered number: 07629419)

Contents of the Consolidated Financial Statements
for the Year Ended 31 March 2025










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Statement of Financial Position 12

Company Statement of Financial Position 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Statement of Cash Flows 16

Notes to the Consolidated Statement of Cash Flows 17

Notes to the Consolidated Financial Statements 18


Cousins Group Limited

Company Information
for the Year Ended 31 March 2025







DIRECTORS: R C Cousins
C F Moloney
A R Wilkinson
R J L Mobley
V Rawding



REGISTERED OFFICE: 1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY



REGISTERED NUMBER: 07629419 (England and Wales)



SENIOR STATUTORY AUDITOR: Susan Ambrose FCCA FCA



AUDITORS: Butt Miller
Chartered Accountants and Statutory Auditor
1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY

Cousins Group Limited (Registered number: 07629419)

Group Strategic Report
for the Year Ended 31 March 2025


The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS
Financial overview
The directors are pleased with the financial results for the year ended 31 March 2025, showing a good performance across the period, and across all group companies considering the fact that several key contractors went out of business during the period, which led to a reduction in turnover and overall profits.

The directors are confident the business is in a strong position to steadily move forward and meet the challenges the future may bring. The directors anticipate securing a substantial volume of new contracts in the near future, positioning the group for sustained success moving forward.

During the year, the group has undertaken a transition to employee ownership through the establishment of an Employee Ownership Trust, enabling the acquisition of a controlling shareholding on behalf of employees. This strategic move supports long-term stability, succession planning, and employee engagement.

The Cousins group of companies have always targeted, and built working relationships with established, industry recognised clients, due to the volume and nature of work they provide, but also increased financial security. Whilst this is still the case, the directors continue to monitor the situation with large Tier 1 contractors' financial reporting.

31.3.25 31.3.24 31.3.23

Turnover (£million) 12.8m 14.7m 16.1m
Profit before taxation 1.1m 1.5m 2.3m
Profit before taxation
percentage

8.6%

10.3%

14.3%


Net assets 3.5m 4.3m 4.0m

The directors continue to drive continuous improvement via the group's accreditation to ISO45001, ISO9001 and IS14001. Our HSEQ Management System is integral to our continued focus on improving the quality and consistency of the service we offer to our clients.

Corporate social responsibility features highly within our group's ethos. We are proud of the work we do as a business to support local charities and pride ourselves on our approach to giving our time and expertise to local projects.

Results
The results for the year are set out on page 10.


Cousins Group Limited (Registered number: 07629419)

Group Strategic Report
for the Year Ended 31 March 2025

PRINCIPAL RISKS AND UNCERTAINTIES
Financial risk management objective
The group uses various financial instruments including loans between group members, cash and other items, such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the group's operations.

The existence of these financial instruments exposes the group to a number of financial risks, which are described in more detail below.

The main risks are cash flow, credit risk and liquidity risk. The directors review and agree policies for managing each of these risks and they are summarised as follows. These policies have remained unchanged from previous years.

Liquidity risk
The group seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably.

Credit risk
The group's principal financial assets are cash, trade debtors and amounts recoverable on contracts. The credit risk associated with the cash is limited as the counterparties are commercial banks. Credit given to trade debtors is reviewed on a regular basis to ensure credit terms are adhered to. Amounts recoverable on long term contracts are also regularly reviewed to ensure that the balances are not overstated.

Cash flow risk
The directors continually update cash flow forecasts to mitigate cash flow risk and to ensure that a suitable level of liquid funds are available at all times.

ON BEHALF OF THE BOARD:





R C Cousins - Director


15 August 2025

Cousins Group Limited (Registered number: 07629419)

Report of the Directors
for the Year Ended 31 March 2025


The directors present their report with the financial statements of the company and the group for the year ended 31 March 2025.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of painting, decorating, building refurbishment and conservation.

DIVIDENDS
No dividends will be distributed for the year ended 31 March 2025.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

R C Cousins
C F Moloney
A R Wilkinson

Other changes in directors holding office are as follows:

R J L Mobley - appointed 16 October 2024
V Rawding - appointed 16 October 2024

INFORMATION IN THE STRATEGIC REPORT
Information relating to future developments and principal risks and uncertainties is shown in the Strategic Report, under s414C(11) of the Companies Act 2006.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are 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 directors are 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 directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

Cousins Group Limited (Registered number: 07629419)

Report of the Directors
for the Year Ended 31 March 2025


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are 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 each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:



R C Cousins - Director


15 August 2025

Report of the Independent Auditors to the Members of
Cousins Group Limited


Opinion
We have audited the financial statements of Cousins Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 March 2025 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 directors' 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 directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, 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.

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 Directors 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 Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Cousins Group Limited


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 Directors.

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 directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Cousins 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
- The nature of the industry and sector the company is in, its control environment and business performance including the design of the company's policies, key drivers for directors’ remuneration and staff bonus levels;
- Results of our enquiries of management about their own identification and assessment of the risks of irregularities;
- Any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
- The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

Our procedures to respond to risks identified included the following:
- Enquiries of management and staff concerning actual and potential litigation claims along with any instances of non-compliance with laws.
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- Obtaining an understanding of provisions and holding discussions with management to understand the basis of recognition or non-recognition of provisions; and
- Considering the risk of fraud through management override of controls; testing the appropriateness of journal entries and other adjustments; checking internal control procedures are being followed as per the company's policies and assessing suitability; assessing the judgements made in making accounting estimates; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

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 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.




Susan Ambrose FCCA FCA (Senior Statutory Auditor)
for and on behalf of Butt Miller
Chartered Accountants and Statutory Auditor
1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY

18 August 2025

Cousins Group Limited (Registered number: 07629419)

Consolidated Income Statement
for the Year Ended 31 March 2025

2025 2024
Notes £    £   

TURNOVER 12,853,722 14,738,010

Cost of sales (8,417,284 ) (9,700,638 )
GROSS PROFIT 4,436,438 5,037,372

Administrative expenses (3,409,278 ) (3,582,041 )
OPERATING PROFIT 5 1,027,160 1,455,331

Interest receivable and similar income 75,649 79,251
1,102,809 1,534,582

Interest payable and similar expenses 6 - (12,057 )
PROFIT BEFORE TAXATION 1,102,809 1,522,525

Tax on profit 7 (291,297 ) (331,923 )
PROFIT FOR THE FINANCIAL YEAR 811,512 1,190,602
Profit attributable to:
Owners of the parent 811,512 1,190,602

Cousins Group Limited (Registered number: 07629419)

Consolidated Other Comprehensive Income
for the Year Ended 31 March 2025

2025 2024
Notes £    £   

PROFIT FOR THE YEAR 811,512 1,190,602


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

811,512

1,190,602

Total comprehensive income attributable to:
Owners of the parent 811,512 1,190,602

Cousins Group Limited (Registered number: 07629419)

Consolidated Statement of Financial Position
31 March 2025

2025 2024
Notes £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 112,629 107,803
Investments 12 - -
112,629 107,803

CURRENT ASSETS
Stocks 13 1,119 1,119
Debtors 14 2,971,502 3,301,428
Cash at bank and in hand 1,653,910 2,249,188
4,626,531 5,551,735
CREDITORS
Amounts falling due within one year 15 (1,062,308 ) (1,221,512 )
NET CURRENT ASSETS 3,564,223 4,330,223
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,676,852

4,438,026

CREDITORS
Amounts falling due after more than one
year

16

(81,773

)

(100,492

)

PROVISIONS FOR LIABILITIES 19 (23,240 ) (21,587 )
NET ASSETS 3,571,839 4,315,947

CAPITAL AND RESERVES
Called up share capital 20 200 200
Retained earnings 21 3,571,631 4,315,739
SHAREHOLDERS' FUNDS 3,571,831 4,315,939

NON-CONTROLLING INTERESTS 22 8 8
TOTAL EQUITY 3,571,839 4,315,947

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2025 and were signed on its behalf by:





R C Cousins - Director


Cousins Group Limited (Registered number: 07629419)

Company Statement of Financial Position
31 March 2025

2025 2024
Notes £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 358,600 358,600
358,600 358,600

CURRENT ASSETS
Debtors 14 35 -
Cash at bank and in hand 17,949 24,714
17,984 24,714
CREDITORS
Amounts falling due within one year 15 (202,592 ) (146,092 )
NET CURRENT LIABILITIES (184,608 ) (121,378 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

173,992

237,222

CAPITAL AND RESERVES
Called up share capital 20 200 200
Retained earnings 21 173,792 237,022
SHAREHOLDERS' FUNDS 173,992 237,222

Company's profit for the financial year 1,492,390 328,943

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2025 and were signed on its behalf by:





R C Cousins - Director


Cousins Group Limited (Registered number: 07629419)

Consolidated Statement of Changes in Equity
for the Year Ended 31 March 2025

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£    £    £    £    £   
Balance at 1 April 2023 200 4,025,137 4,025,337 8 4,025,345

Changes in equity
Dividends - (900,000 ) (900,000 ) - (900,000 )
Total comprehensive income - 1,190,602 1,190,602 - 1,190,602
Balance at 31 March 2024 200 4,315,739 4,315,939 8 4,315,947

Changes in equity
Total comprehensive income - 811,512 811,512 - 811,512
Capital contribution EOT - (1,555,620 ) (1,555,620 ) - (1,555,620 )
Balance at 31 March 2025 200 3,571,631 3,571,831 8 3,571,839

Cousins Group Limited (Registered number: 07629419)

Company Statement of Changes in Equity
for the Year Ended 31 March 2025

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2023 200 808,079 808,279

Changes in equity
Dividends - (900,000 ) (900,000 )
Total comprehensive income - 328,943 328,943
Balance at 31 March 2024 200 237,022 237,222

Changes in equity
Total comprehensive income - 1,492,390 1,492,390
Capital contribution EOT - (1,555,620 ) (1,555,620 )
Balance at 31 March 2025 200 173,792 173,992

Cousins Group Limited (Registered number: 07629419)

Consolidated Statement of Cash Flows
for the Year Ended 31 March 2025

2025 2024
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,153,326 1,643,893
Interest paid - (11,971 )
Interest element of hire purchase or finance
lease rental payments paid

-

(86

)
Tax paid (247,508 ) (434,733 )
Net cash from operating activities 905,818 1,197,103

Cash flows from investing activities
Purchase of tangible fixed assets (55,593 ) (72,657 )
Sale of tangible fixed assets 32,500 941,475
Interest received 75,649 79,251
Net cash from investing activities 52,556 948,069

Cash flows from financing activities
Loan repayments in year - (492,346 )
Capital repayments in year - (6,016 )
Amount introduced by directors 4,033 999
Amount withdrawn by directors (2,065 ) (2,967 )
Equity dividends paid - (900,000 )
Capital contribution EOT (1,555,620 ) -
Net cash from financing activities (1,553,652 ) (1,400,330 )

(Decrease)/increase in cash and cash equivalents (595,278 ) 744,842
Cash and cash equivalents at beginning
of year

2

2,249,188

1,504,346

Cash and cash equivalents at end of
year

2

1,653,910

2,249,188

Cousins Group Limited (Registered number: 07629419)

Notes to the Consolidated Statement of Cash Flows
for the Year Ended 31 March 2025


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

2025 2024
£    £   
Profit before taxation 1,102,809 1,522,525
Depreciation charges 50,767 44,341
Profit on disposal of fixed assets (32,500 ) (20,409 )
Decrease in contracts 225,030 426,855
Finance costs - 12,057
Finance income (75,649 ) (79,251 )
1,270,457 1,906,118
Decrease/(increase) in trade and other debtors 102,928 (56,523 )
Decrease in trade and other creditors (220,059 ) (205,702 )
Cash generated from operations 1,153,326 1,643,893

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 March 2025
31.3.25 1.4.24
£    £   
Cash and cash equivalents 1,653,910 2,249,188
Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 2,249,188 1,504,346


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24 Cash flow At 31.3.25
£    £    £   
Net cash
Cash at bank and in hand 2,249,188 (595,278 ) 1,653,910
2,249,188 (595,278 ) 1,653,910
Total 2,249,188 (595,278 ) 1,653,910

Cousins Group Limited (Registered number: 07629419)

Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025


1. STATUTORY INFORMATION

Cousins 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.

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

Basis of consolidation
The consolidated accounts incorporate the accounts of all subsidiary undertakings made up to the statement of financial position date prepared in accordance with the group's accounting policies. The acquisition method of accounting is used to consolidate the results of subsidiaries within the group. Goodwill arising on consolidation has been written off in equal instalments over its useful economic life.

Turnover
Turnover represents amounts invoiced during the year, excluding value added tax and trade discounts.

Profit is recognised on long term contracts, if the final outcome can be assessed with reasonable certainty, by including in the Consolidated Income Statement, turnover and related costs as contract activity progresses. Turnover is calculated by a surveyor's valuation less any provisions for non-recovery.

Long term contracts
Amounts recoverable on long term contracts, which are included within debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - at varying rates on cost
Motor vehicles - 25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed by the directors annually, and adjusted prospectively if there is an indication of a significant change since the last reporting date. Any impairment losses are recognised within 'administrative expenses' in the Consolidated Income Statement.

Gains and losses on disposals are determined by comparing the sales proceeds with the carrying amount and are recognised within 'administrative expenses' in the Consolidated Income Statement.

Stock
Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items. The cost formula used is the first in, first out method.

Financial instruments
Financial instruments are recognised initially at the transaction price. Any that are not payable within twelve months are amortised using the effective interest method less any provision for impairment.


Cousins Group Limited (Registered number: 07629419)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Investments
Fixed asset investments are stated at cost less provision for diminution in value.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Consolidated Income Statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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 the Consolidated Income Statement in the period to which they relate.

Judgements in applying accounting policies
In preparing these financial statements, the directors have made the following judgements:

To determine whether leases entered into by the company are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

To determine whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching a decision include the state of repair and the expected future performance of the asset.

To determine whether provisions such as deferred tax or bad debt provision are required. The directors looked at the likelihood of these provisions crystallising by assessing all the information available at the time in determining their decision.

To determine the recoverability of long term contracts. The directors based their judgement on surveyors' valuations, less any provision for non-recovery or additional costs, based on information available at the time.

Cousins Group Limited (Registered number: 07629419)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025


2. ACCOUNTING POLICIES - continued

Key sources of estimation uncertainties
Tangible fixed assets are depreciated over their estimated useful lives taking into account residual values where appropriate. The actual lives may depend on a number of factors including technological innovations, product life cycles and replacement policies. (See note 11).

The directors make an estimate of recoverable value of trade, other debtors and long term contracts. When assessing impairment, the directors consider factors including the current credit rating of the debtor, the ageing profile, the stage and status of the job and historical experience.

3. EMPLOYEES AND DIRECTORS
2025 2024
£    £   
Wages and salaries 3,134,867 3,307,465
Social security costs 358,816 407,066
Other pension costs 101,305 115,998
3,594,988 3,830,529

The average number of employees during the year was as follows:
2025 2024

Directors 5 5
Administration 23 25
Operations 23 23
51 53

The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2024 - NIL).

4. DIRECTORS' EMOLUMENTS
2025 2024
£    £   
Directors' remuneration 807,115 942,155
Directors' pension contributions to money purchase schemes 37,221 54,989

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 3 5

Information regarding the highest paid director is as follows:
2025 2024
£    £   
Emoluments etc 217,512 221,410
Pension contributions to money purchase schemes 9,710 9,336

Cousins Group Limited (Registered number: 07629419)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025


5. OPERATING PROFIT

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

2025 2024
£    £   
Other operating leases 114,425 110,033
Depreciation - owned assets 50,767 37,549
Depreciation - assets on hire purchase contracts or finance leases - 6,792
Profit on disposal of fixed assets (32,500 ) (20,409 )
Auditors' remuneration 35,000 20,700

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2025 2024
£    £   
Bank loan interest - 11,971
Hire purchase - 86
- 12,057

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2025 2024
£    £   
Current tax:
UK corporation tax 289,644 328,704

Deferred tax 1,653 3,219
Tax on profit 291,297 331,923

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:

2025 2024
£    £   
Profit before tax 1,102,809 1,522,525
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2024 - 25 %)

275,702

380,631

Effects of:
Expenses not deductible for tax purposes 23,753 17,190
Capital allowances in excess of depreciation (9,778 ) (12,685 )
Utilisation of tax losses 2 1,951
Movement in deferred tax 1,653 3,219
Adjustments to tax charge in respect of previous periods (35 ) (58,383 )
Total tax charge 291,297 331,923

Cousins Group Limited (Registered number: 07629419)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025


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
2025 2024
£    £   
Ordinary shares of 1p each
Interim - 900,000

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 (20,116 )
AMORTISATION
At 1 April 2024
and 31 March 2025 (20,116 )
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 -

11. TANGIBLE FIXED ASSETS

Group
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2024 500 325,251 250,623 576,374
Additions - 4,904 50,689 55,593
Disposals - - (132,570 ) (132,570 )
Reclassification/transfer (500 ) 500 - -
At 31 March 2025 - 330,655 168,742 499,397
DEPRECIATION
At 1 April 2024 500 299,619 168,452 468,571
Charge for year - 16,455 34,312 50,767
Eliminated on disposal - - (132,570 ) (132,570 )
Reclassification/transfer (500 ) 500 - -
At 31 March 2025 - 316,574 70,194 386,768
NET BOOK VALUE
At 31 March 2025 - 14,081 98,548 112,629
At 31 March 2024 - 25,632 82,171 107,803

Cousins Group Limited (Registered number: 07629419)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025


12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 April 2024
and 31 March 2025 358,600
NET BOOK VALUE
At 31 March 2025 358,600
At 31 March 2024 358,600

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Cousins Limited
Registered office: 1 Minster Court, Tuscam Way, Camberley, Surrey, GU15 3YY
Nature of business: Painting and decorating
%
Class of shares: holding
Ordinary 100.00
2025 2024
£    £   
Aggregate capital and reserves 3,695,205 4,375,584
Profit for the year 819,621 1,235,483

Campbell Smith & Company Limited
Registered office: 1 Minster Court, Tuscam Way, Camberley, Surrey, GU15 3YY
Nature of business: Painting and decorating
%
Class of shares: holding
Ordinary 100.00
2025 2024
£    £   
Aggregate capital and reserves 114,534 114,287
Profit/(loss) for the year 247 (6,538 )

Cousins Building & Refurbishment Ltd
Registered office: 1 Minster Court, Tuscam Way, Camberley, Surrey, GU15 3YY
Nature of business: Painting and decorating
%
Class of shares: holding
Ordinary 100.00
2025 2024
£    £   
Aggregate capital and reserves (53,293 ) (52,548 )
Loss for the year (745 ) (37,286 )


Cousins Group Limited (Registered number: 07629419)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025


13. STOCKS

Group
2025 2024
£    £   
Stocks 1,119 1,119

14. DEBTORS

Group Company
2025 2024 2025 2024
£    £    £    £   
Amounts falling due within one year:
Trade debtors 444,252 337,446 - -
Amounts recoverable on
contracts 1,762,835 1,987,865 - -
Prepayments and other debtors 104,188 224,937 - -
Director's current account - 1,968 - -
VAT 53,443 69,252 35 -
2,364,718 2,621,468 35 -

Amounts falling due after more than one year:
Trade debtors 606,784 679,960 - -

Aggregate amounts 2,971,502 3,301,428 35 -

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2025 2024 2025 2024
£    £    £    £   
Trade creditors 294,071 570,437 - -
Amounts owed to group undertakings - - 195,592 140,592
Tax 193,222 151,086 - -
Social security and other taxes 206,119 228,739 - -
Other creditors 123,917 110,956 - -
Accruals and deferred income 244,979 160,294 7,000 5,500
1,062,308 1,221,512 202,592 146,092

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
2025 2024
£    £   
Other creditors 81,773 100,492

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Cousins Group Limited (Registered number: 07629419)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025


Group
Non-cancellable operating leases
2025 2024
£    £   
Within one year 56,106 53,875

Total operating lease payments made during the year amounted to £114,425 (2024: £108,230).

18. SECURED DEBTS

During the year Barclays Bank Plc held a fixed and floating charge over the undertaking and its assets, present and future. This charge was satisfied after the year end.

19. PROVISIONS FOR LIABILITIES

Group
2025 2024
£    £   
Deferred tax 23,240 21,587

Group
Deferred
tax
£   
Balance at 1 April 2024 21,587
Capital allowances in advance 1,653
Balance at 31 March 2025 23,240

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
20,000 Ordinary 1p 200 200

Ordinary shares have full rights relating to voting, dividends and distributions.

21. RESERVES

Group
Retained
earnings
£   

At 1 April 2024 4,315,739
Profit for the year 811,512
Capital contribution EOT (1,555,620 )
At 31 March 2025 3,571,631

Cousins Group Limited (Registered number: 07629419)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025


21. RESERVES - continued

Company
Retained
earnings
£   

At 1 April 2024 237,022
Profit for the year 1,492,390
Capital contribution EOT (1,555,620 )
At 31 March 2025 173,792


22. NON-CONTROLLING INTERESTS

Non-controlling interests represents growth shares issued for Cousins Limited. The shares were issued at par on 10 December 2018 and have capital rights of up to 0.01% on reserves above £6.8 million.

23. CONTINGENT LIABILITIES

During the year the bank held an unlimited supported cross-guarantee between all four group companies.

24. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025 2024
£    £   
R C Cousins
Balance outstanding at start of year 1,968 -
Amounts advanced 2,065 2,967
Amounts repaid (4,033 ) (999 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,968

Short term loans to the directors are interest free. Any unsecured, overdrawn balances are cleared within nine months of the year end.

25. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Cousins Employee Ownership Trust.