The Fold Leamington Spa Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01309802 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE FOLD LEAMINGTON SPA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

W.E. Husselby

M.S. Husselby

REGISTERED OFFICE:

The Fold

Spencer Street

Royal Leamington Spa

Warwickshire

CV31 3NE

REGISTERED NUMBER:

01309802 (England and Wales)

AUDITORS:

Dafferns Audit Limited

Chartered Accountants

Statutory Auditor

One Eastwood

Harry Weston Road

Binley Business Park

Coventry

CV3 2UB

FIXED ASSETS

Tangible assets

5

420,958

435,026

CURRENT ASSETS

Debtors

6

78,917

776

Cash at bank

4,799

1

83,716

777

CREDITORS

Amounts falling due within one year

7

933,417

534,018

NET CURRENT LIABILITIES

(849,701

)

(533,241

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(428,743

)

(98,215

)

CAPITAL AND RESERVES

Called up share capital

8

2

Retained earnings

(428,745

)

(98,217

)

SHAREHOLDERS' FUNDS

(428,743

)

(98,215

)

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

M.S. Husselby - Director

1.	STATUTORY INFORMATION

The Fold Leamington Spa 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared under the historical cost convention.

Going concern

These financial statements have been prepared on the basis that the company will continue trading as a going concern.

The Cogent group has confirmed that it will continue to provide the company with sufficient financial support and working capital to fund the losses and enable the company to meet its ongoing liabilities as they fall due.

The directors consider that the going concern basis of accounting remains appropriate.

Turnover

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

Turnover is recognised in line with the period in which services are provided.

Tangible fixed assets

Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

Repairs and maintenance costs are charged to the Statement of Comprehensive Income in the period in which they are incurred.

Depreciation is provided on the cost of tangible assets in equal annual instalments over their estimated useful lives, which are as follows:

Short leasehold

- 10 years

Fixtures and fittings

- Between 5 and 7 years

Any gains and losses on the disposal of tangible fixed assets are recognised in the Statement of Comprehensive Income in the year that the disposal takes place.

Financial instruments

Basic financial instruments in debtors and creditors with no stated interest rate, and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Statement of Comprehensive Income in other administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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 Statement of Comprehensive Income in the period to which they relate. A defined contribution plan is a pension scheme under which the company pays fixed contributions into an independently administered fund and has no further obligations once the contributions have been paid.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

5.	TANGIBLE FIXED ASSETS

Short

Fixtures

leasehold

and

property

fittings

Totals

£

COST

At 1 January 2024

336,268

98,758

435,026

Additions

32,859

3,727

36,586

At 31 December 2024

369,127

102,485

471,612

DEPRECIATION

Charge for year

35,680

14,974

50,654

At 31 December 2024

35,680

14,974

50,654

NET BOOK VALUE

At 31 December 2024

333,447

87,511

420,958

At 31 December 2023

336,268

98,758

435,026

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

4,110

-

VAT

-

39

Prepayments

74,807

737

78,917

776

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Payments on account

182

-

Trade creditors

4,286

235

Amounts owed to group undertakings

561,475

444,912

VAT

8,524

-

Other creditors

36,901

Accruals and deferred income

322,049

51,970

933,417

534,018

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

2

Ordinary

£1

2

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Geoffrey Cox BA FCA (Senior Statutory Auditor)

for and on behalf of Dafferns Audit Limited

10.	CONTINGENT LIABILITIES

At the year end the company has guaranteed borrowings of fellow subsidiaries amounting to £1,494,717 (2023: £1,572,770) and has entered a group overdraft facility which is secured by a fixed and floating charge over all assets of the company.

After the year end, following group refinancing, the guarantees across the group entities have been removed.

11.	OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet, amount to £2,236,044 (2023: £2,263,500)

12.	ULTIMATE PARENT COMPANY

The Company is a wholly-owned subsidiary of Cogent Group Limited (CGL) and its ultimate parent company is Cogent Elliott Group Limited (CEGL).

The registered office and principal place of business of CEGL is The Fold, Spencer Street, Royal Leamington Spa, Warwickshire, CV31 3NE, from which group accounts can be obtained.

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.