Ann's Cottage (Warehouse) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05231649

Ann's Cottage (Warehouse) Limited

Filleted Unaudited Financial Statements

31 March 2025

Ann's Cottage (Warehouse) Limited

Statement of Financial Position

31 March 2025

	31 Mar 25		31 Jan 24
Note	£	£	£

Fixed assets

Tangible assets	5		220,892	315,969

Current assets

Stocks		3,098,069	2,446,265
Debtors	6	3,301,195	4,113,687
Cash at bank and in hand		163,168	261,234
		------------	------------
		6,562,432	6,821,186

Creditors: amounts falling due within one year	7	4,639,464		4,997,363
		------------		------------
Net current assets			1,922,968	1,823,823
			------------	------------
Total assets less current liabilities			2,143,860	2,139,792

Provisions

Taxation including deferred tax	50,210	72,850
	------------	------------
Net assets	2,093,650	2,066,942
	------------	------------

Capital and reserves

Called up share capital	2	2
Profit and loss account	2,093,648	2,066,940
	------------	------------
Shareholders funds	2,093,650	2,066,942
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Ann's Cottage (Warehouse) Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 18 August 2025 , and are signed on behalf of the board by:

Mrs R Cornelius

Director

Company registration number: 05231649

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

Ann's Cottage (Warehouse) Limited

Notes to the Financial Statements

Period from 1 February 2024 to 31 March 2025

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Unit 4, Higher Pityme Farm, Pityme Business Centre, St Minver, Wadebridge, Cornwall, PL27 6NU.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold improvements	-	Straight line over 15 years
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	25 % reducing balance

Leased assets are depreciated over the term of the lease except where there is an expectation that the lease will continue.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Weighted average cost is used for stock valuation.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 23 (2024: 28 ).

5. Tangible assets

	Short leasehold properties	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 February 2024	90,034	239,663	423,433	454,044	1,207,174
Additions	–	1,644	–	862	2,506
Disposals	–	–	( 26,195)	–	( 26,195)
	--------	---------	---------	---------	------------
At 31 March 2025	90,034	241,307	397,238	454,906	1,183,485
	--------	---------	---------	---------	------------
Depreciation
At 1 February 2024	68,076	212,570	228,838	381,721	891,205
Charge for the period	6,696	8,381	54,944	21,346	91,367
Disposals	–	–	( 19,979)	–	( 19,979)
	--------	---------	---------	---------	------------
At 31 March 2025	74,772	220,951	263,803	403,067	962,593
	--------	---------	---------	---------	------------
Carrying amount
At 31 March 2025	15,262	20,356	133,435	51,839	220,892
	--------	---------	---------	---------	------------
At 31 January 2024	21,958	27,093	194,595	72,323	315,969
	--------	---------	---------	---------	------------

6. Debtors

	31 Mar 25	31 Jan 24
	£	£
Trade debtors	1,388,448	1,682,435
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,494,244	2,188,915
Other debtors	418,503	242,337
	------------	------------
	3,301,195	4,113,687
	------------	------------

7. Creditors: amounts falling due within one year

	31 Mar 25	31 Jan 24
	£	£
Trade creditors	2,127,435	905,159
Amounts owed to group undertakings and undertakings in which the company has a participating interest	308	–
Corporation tax	32,945	77,169
Social security and other taxes	13,691	11,608
Amounts owed to connected undertakings	2,460,128	3,713,221
Other creditors	4,957	290,206
	------------	------------
	4,639,464	4,997,363
	------------	------------

8. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 13,323 (2024: £ 11,964 ).

The pension creditor at 31st March 2025 is £725 (2024 £991).

9. Related party transactions

Transactions with associates Ann's Cottage (Warehouse) Limited has transacted with associated entities. During the period, sales were made to the value of £9,219,382 (2024 - £9,075,714). At the balance sheet date, the amount due from associated entities was £1,494,243 (2024 - £2,188,916) and the amount owed to associated entities was £2,460,127 (2024 - £3,713,221). At the balance sheet date trade receivable balances of £1,388,948 (2024 - £1,680,952) were owed to the company by associated entities. Management charges of £140,935 (2024 - £120,802) were charged to the associated entities in the year. The company is a lessee of one of its sites from an associated entity. During the year rents of £18,000 (2024 - £18,000) were paid to the entity. Transactions with directors The net movement in the directors loan during the year was a decrease of £273,132. The balance due to the directors at the year end was £1,941 (2024 - £275,073). The loan is non interest bearing and repayable on demand. Summary of transactions with other related parties During the year the company entered into the following transactions with related parties: Consultancy services and stock were provided by another related party to the value of £Nil (2024 - £11,495). The company is a lessee of one of its sites from Mrs R Cornelius and Mrs E Doney. During the year rents of £140,000 (2024 - £120,000) were paid.