REGISTERED NUMBER: 06676717 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

COATES AND SEELY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Coates

C J R Seely

N Bloy

REGISTERED OFFICE:

Harroway

Whitchurch

Hampshire

RG28 7QT

REGISTERED NUMBER:

06676717 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Tangible assets

4

3,633,465

3,603,228

CURRENT ASSETS

Stocks

1,992,803

2,184,147

Debtors

5

179,055

131,283

Cash at bank

36,093

128,373

2,207,951

2,443,803

CREDITORS

Amounts falling due within one year

6

147,711

107,571

NET CURRENT ASSETS

2,060,240

2,336,232

TOTAL ASSETS LESS CURRENT LIABILITIES

5,693,705

5,939,460

CREDITORS

Amounts falling due after more than one year

7

6,456,716

6,485,118

NET LIABILITIES

(763,011

)

(545,658

)

CAPITAL AND RESERVES

Called up share capital

90,002

90,002

Retained earnings

(853,013

)

(635,660

)

SHAREHOLDERS' FUNDS

(763,011

)

(545,658

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th September 2025 and were signed on its behalf by:

N Coates - Director

1.	STATUTORY INFORMATION

Coates and Seely 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.

Turnover

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

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 etc

-

33.33% straight line, 25% on reducing balance, 10% on reducing balance, 4% on cost and 10% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 profit or loss in the period to which they relate.

Going concern

The balance sheet is showing a position of net liabilities; the accounts are prepared on the going concern basis due to the continued support of the shareholders and directors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1st January 2024

2,290,759

133,392

610,787

Additions

-

2,015

4,575

At 31st December 2024

2,290,759

135,407

615,362

DEPRECIATION

At 1st January 2024

-

91,033

336,696

Charge for year

-

8,218

27,883

At 31st December 2024

-

99,251

364,579

NET BOOK VALUE

At 31st December 2024

2,290,759

36,156

250,783

At 31st December 2023

2,290,759

42,359

274,091

Motor

Vines

vehicles

Totals

£

£

£

COST

At 1st January 2024

976,071

134,182

4,145,191

Additions

121,815

-

128,405

At 31st December 2024

1,097,886

134,182

4,273,596

DEPRECIATION

At 1st January 2024

56,117

58,117

541,963

Charge for year

43,051

19,016

98,168

At 31st December 2024

99,168

77,133

640,131

NET BOOK VALUE

At 31st December 2024

998,718

57,049

3,633,465

At 31st December 2023

919,954

76,065

3,603,228

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

176,460

131,283

Other debtors

2,595

-

179,055

131,283

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

30,000

30,000

Trade creditors

83,701

23,216

Taxation and social security

18,875

33,108

Other creditors

15,135

21,247

147,711

107,571

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

34,123

62,520

Shareholder Loans

6,422,593

6,422,598

6,456,716

6,485,118

8.	RELATED PARTY DISCLOSURES

Included within Creditors amounts falling due after more than one year (long term creditors) are three categories of Subordinated Shareholder Loans.

The first of these, is an amount of £2,513,386 (2023 - £2,513,386), which is represented by Subordinated Founder Shareholder Loans of no fixed maturity. These Subordinated loans bear no interest, have no covenants and no events of default.

The second category is a Subordinated Shareholder Loan, in an amount of £1,250,000 (2023 - £1,250,000), which ranks senior to the Founder Shareholder Subordinated Loans but Subordinated to any existing or future Senior Loans. This Shareholder Loan attracts Pay-in-Kind interest at 5%, is repayable in 2029, and is redeemable through the issue of equity or further Subordinated Shareholder Loans at the option of the lender.

The third category of Shareholder Loans, is an amount of £2,650,000 (2023 - £2,650,000), which ranks pari passu with the second category of Subordinated Shareholder Loan. This Shareholder Loan attracts Pay-in-Kind interest at 7.5%, is repayable in 2029, and is redeemable through the issue of equity or further Subordinated Shareholder Loans at the option of the lender, at a future date that is not fixed.

Neither category of the Subordinated Shareholder Loans have any financial covenants or events of default.