Company registration number 02791895 (England and Wales)
COTSWOLD COLLECTIONS LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 2 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
COTSWOLD COLLECTIONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 10
COTSWOLD COLLECTIONS LIMITED
BALANCE SHEET
AS AT 2 FEBRUARY 2025
02 February 2025
- 1 -
2 February 2025
28 January 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
44,606
63,290
Investments
5
-
0
1
44,606
63,291
Current assets
Stocks
1,604,180
1,734,428
Debtors
6
1,890,319
3,429,038
Cash at bank and in hand
94,651
489,378
3,589,150
5,652,844
Creditors: amounts falling due within one year
7
(1,466,921)
(1,854,216)
Net current assets
2,122,229
3,798,628
Total assets less current liabilities
2,166,835
3,861,919
Creditors: amounts falling due after more than one year
8
(170,000)
-
0
Provisions for liabilities
(66,754)
(66,613)
Net assets
1,930,081
3,795,306
Capital and reserves
Called up share capital
300,000
300,000
Share premium account
16,295
16,295
Capital redemption reserve
16,249
16,249
Profit and loss reserves
1,597,537
3,462,762
Total equity
1,930,081
3,795,306

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 6 October 2025 and are signed on its behalf by:
Mr T R Brown
Director
Company Registration No. 02791895
COTSWOLD COLLECTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 2 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information

Cotswold Collections Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3, Centrum Park, Tewkesbury Road, Cheltenham, Gloucestershire, United Kingdom, GL51 9FD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Revenue is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Intangible fixed assets other than goodwill

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets are recognised where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Other
25% on cost
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

COTSWOLD COLLECTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery etc
20 - 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

COTSWOLD COLLECTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.10
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

COTSWOLD COLLECTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 FEBRUARY 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

COTSWOLD COLLECTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 FEBRUARY 2025
1
Accounting policies
(Continued)
- 6 -

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

1.17
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.18
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
2024
Number
Number
Total
34
38
3
Intangible fixed assets
Other
£
Cost
At 28 January 2024 and 2 February 2025
1,395
Amortisation and impairment
At 28 January 2024 and 2 February 2025
1,395
Carrying amount
At 2 February 2025
-
0
At 28 January 2024
-
0
COTSWOLD COLLECTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 FEBRUARY 2025
3
Intangible fixed assets
(Continued)
- 7 -

Intangible fixed assets have been pledged to secure borrowings of the company under a fixed and floating charge.

Intangible fixed assets are also pledged as security for bank and other loans of group companies by way of a cross guarantee under a fixed and floating charge.

4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 28 January 2024
569,018
Additions
19,138
Disposals
(4,694)
At 2 February 2025
583,462
Depreciation and impairment
At 28 January 2024
505,728
Depreciation charged in the period
37,822
Eliminated in respect of disposals
(4,694)
At 2 February 2025
538,856
Carrying amount
At 2 February 2025
44,606
At 28 January 2024
63,290

Tangible fixed assets have been pledged to secure borrowings of the company under a fixed and floating charge.

Tangible fixed assets are also pledged as security for bank and other loans of group companies by way of a cross guarantee under a fixed and floating charge.

5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
-
0
1

Fixed asset investments have been pledged to secure borrowings of the company under a fixed and floating charge.

Fixed asset investments are also pledged as security for bank and other loans of group companies by way of a cross guarantee under a fixed and floating charge.

COTSWOLD COLLECTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 FEBRUARY 2025
5
Fixed asset investments
(Continued)
- 8 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 29 January 2024
1
Disposals
(1)
At 2 February 2025
-
Carrying amount
At 2 February 2025
-
At 28 January 2024
1
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
342
14,921
Amounts owed by group undertakings
1,684,776
3,257,511
Other debtors
205,201
156,606
1,890,319
3,429,038

All debtor balances have been pledged to secure borrowings of the company under a fixed and floating charge.

All debtor balances are also pledged as security for bank and other loans of group companies by way of a cross guarantee under a fixed and floating charge.

Amounts owed by group undertakings are unsecured, interest free and have no fixed date of repayment and are repayable on demand.

7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
120,000
175,085
Trade creditors
905,462
1,123,014
Corporation tax
51,113
138,340
Other taxation and social security
233,196
221,018
Other creditors
157,150
196,759
1,466,921
1,854,216
COTSWOLD COLLECTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 FEBRUARY 2025
- 9 -
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
170,000
-
0
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Claire Clift
Statutory Auditor:
Azets Audit Services
10
Financial commitments, guarantees and contingent liabilities

As at 2 February 2025, the company had total operating lease commitments of £267,997 (2024: £382,346).

As at 2 February 2025, the company was subject to cross guarantees on facilities provided to its parent company. The maximum amount due at this date by the company in respect of these guarantees was £250,000 (2024: £675,000).

The company had no other commitments, guarantees or contingencies (2024: £Nil).

11
Events after the reporting date

On 3 October 2025, Cotswold Collections Group Limited and its subsidiaries were sold by the current investors to Cotton Traders Limite d.

Through this change, majority ownership of Cotswold Collections Group transferred from Rockpool Investment Nominees Ltd to Cotton Traders Limited.

COTSWOLD COLLECTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 FEBRUARY 2025
- 10 -
12
Related party transactions

The company has taken advantage of exemption, under the term 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.

13
Parent company

The ultimate parent company of the only group of which the company is a member is Cotswold Collections Group Limited, a company incorporated and registered in England and Wales, with its registered office of Unit 3, Centrum Park, Tewkesbury Road, Cheltenham, Gloucestershire, GL51 9FD.

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