REGISTERED NUMBER: 10282019 (England and Wales)

COTSWOLD DOORS FAIRFORD LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mr D N Campbell

Mr S P D Campbell

REGISTERED OFFICE:

1 Unit

1 Whelford Industrial Estate

Whelford Road

FAIRFORD

Gloucestershire

GL7 4DT

REGISTERED NUMBER:

10282019 (England and Wales)

ACCOUNTANTS:

Morris Owen

Chartered Accountants

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

BANKERS:

Lloyds Bank Plc

Ariel House

2138 Coventry road

Sheldon

B26 3JW

FIXED ASSETS

Investment property

4

2,250,000

2,000,000

CURRENT ASSETS

Debtors

5

800

1,650

Cash at bank

1,068

2,601

1,868

4,251

CREDITORS

Amounts falling due within one year

6

666,205

644,629

NET CURRENT LIABILITIES

(664,337

)

(640,378

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,585,663

1,359,622

CREDITORS

Amounts falling due after more than one year

7

(642,254

)

(724,915

)

PROVISIONS FOR LIABILITIES

(113,105

)

(50,605

)

NET ASSETS

830,304

584,102

CAPITAL AND RESERVES

Called up share capital

9

800

800

Retained earnings

10

829,504

583,302

SHAREHOLDERS' FUNDS

830,304

584,102

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th September 2025 and were signed on its behalf by:

Mr S P D Campbell - Director

1.	STATUTORY INFORMATION

Cotswold Doors Fairford Limited is a private company, limited by shares, and incorporated in England and Wales.

The registered office address is 1 Unit 1 Whelford Industrial Estate, Whelford Road, Fairford, Gloucestershire, GL7 4DT.

These financial statements are presented in Pound Sterling (£) which is the company's functional and presentational currency.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the recognition of certain assets measured at fair value.

Significant judgements and estimates

In preparing these financial statements, the directors have determined the basis of the fair value of the investment property using their knowledge of the market and estimates of the rental multiple.

Turnover

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

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

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.

Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st September 2023

2,000,000

Revaluations

250,000

At 31st August 2024

2,250,000

NET BOOK VALUE

At 31st August 2024

2,250,000

At 31st August 2023

2,000,000

Fair value at 31st August 2024 is represented by:

£

Valuation in 2023

199,553

Valuation in 2024

250,000

Cost

1,800,447

2,250,000

The investment property has been revalued to be a fair reflection of the market value as at 31 August 2024.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

800

1,650

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

89,865

94,129

Taxation and social security

19,926

15,742

Other creditors

556,414

534,758

666,205

644,629

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

642,254

724,915

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

252,142

354,488

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

732,119

819,044

A debenture is held by way of a fixed and floating charge over all the property or undertaking of the company by Lloyds Bank plc.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

6,000

Ordinary A

0.10

600

600

1,600

Ordinary B

0.10

160

160

400

Ordinary C

0.10

40

40

800

800

10.

RESERVES

Included within retained earnings is an amount of £358,526 (2023:£171,026) which is undistributable. This amount represents the difference between the carrying value of the Investment property measured at fair value less its cost at initial recognition, less the relevant deferred tax liability.