REGISTERED NUMBER: 09040920 (England and Wales)

CORTES GOLD LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C R Le Gresley

Mrs S E Le Gresley

REGISTERED OFFICE:

Unit 1 Ricketts Close

Firs Industrial Estate

Kidderminster

Worcestershire

DY11 7QN

REGISTERED NUMBER:

09040920 (England and Wales)

FIXED ASSETS

Intangible assets

4

138,032

152,480

Tangible assets

5

2,205,718

1,954,888

Investments

6

100

100

2,343,850

2,107,468

CURRENT ASSETS

Debtors

7

44,880

25,540

Cash at bank

63,551

75,733

108,431

101,273

CREDITORS

Amounts falling due within one year

8

207,748

295,964

NET CURRENT LIABILITIES

(99,317

)

(194,691

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,244,533

1,912,777

CREDITORS

Amounts falling due after more than one year

9

1,565,446

1,161,304

NET ASSETS

679,087

751,473

CAPITAL AND RESERVES

Called up share capital

11

200

200

Retained earnings

678,887

751,273

SHAREHOLDERS' FUNDS

679,087

751,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th September 2025 and were signed on its behalf by:

C R Le Gresley - Director

Mrs S E Le Gresley - Director

1.	STATUTORY INFORMATION

Cortes Gold 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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The accounts have been prepared on a going concern basis. The directors confirm loans will be made available to the company to enable it to meet its liabilities as they fall due.

Preparation of consolidated financial statements

The financial statements contain information about Cortes Gold Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 arising on the acquisition of a business in 2014 is being amortised over five years after taking into consideration residual value.

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

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses.

Depreciation is provided on all tangible fixed asets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold property and improvements to property - 2% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

Financial instruments

Basic financial liabilities, including trade and other debtors, bank loans and loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends to either settle on a net basis, or to realise the asset and settle the liability simultaneously.

Debt instruments that have no stated interest rate are classified as payable or receivable within one year are initially measured at an un-discounted amount of the cash or other consideration expected to be paid, net of impairment.

Taxation

Current tax is recognised for the amount of corporation tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if:

- The company has a legally enforceable right to set off current tax assets against current tax liabilities, and

- The deferred tax assets and deferred tax liabilities relate to corporation taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st July 2024

and 30th June 2025

289,000

AMORTISATION

At 1st July 2024

136,520

Charge for year

14,448

At 30th June 2025

150,968

NET BOOK VALUE

At 30th June 2025

138,032

At 30th June 2024

152,480

5.	TANGIBLE FIXED ASSETS

Freehold

Improvements

property

to property

Totals

£

£

£

COST

At 1st July 2024

1,551,082

430,941

1,982,023

Additions

-

250,830

250,830

At 30th June 2025

1,551,082

681,771

2,232,853

DEPRECIATION

At 1st July 2024

and 30th June 2025

22,195

4,940

27,135

NET BOOK VALUE

At 30th June 2025

1,528,887

676,831

2,205,718

At 30th June 2024

1,528,887

426,001

1,954,888

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st July 2024

and 30th June 2025

100

NET BOOK VALUE

At 30th June 2025

100

At 30th June 2024

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

44,880

25,540

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

25,652

124,793

Trade creditors

21,362

3,506

Amounts owed to group undertakings

151,455

110,100

Tax

48

-

Social security and other taxes

3,626

2,598

Directors' current accounts

4,955

54,352

Accrued expenses

650

615

207,748

295,964

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 2-5 years

1,565,446

1,161,304

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

1,591,098

1,286,097

The bank loan is secured by way of a fixed and floating charge over the assets for which it relates.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

200

Ordinary

£1

200

200

12.	RELATED PARTY DISCLOSURES

Dividends of NIL (2024 - £150,000) were received from Aztec Label Limited (a wholly owned subsidiary) during the year.

Rent was received of £187,400 and management charges of £48,000 from Aztec Label Limited (2024 - £187,400 rent and £24,000 management charge).