Company registration number 04986319 (England and Wales)
FOTHERGILL COATED FABRICS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
FOTHERGILL COATED FABRICS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 10
FOTHERGILL COATED FABRICS LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
-
0
2,000
Tangible assets
5
1,004,005
1,060,391
Investments
6
8
8
1,004,013
1,062,399
Current assets
Stocks
3,311,117
4,028,999
Debtors
7
6,695,410
6,427,004
Cash at bank and in hand
217,086
91,083
10,223,613
10,547,086
Creditors: amounts falling due within one year
8
(4,850,429)
(5,313,781)
Net current assets
5,373,184
5,233,305
Total assets less current liabilities
6,377,197
6,295,704
Creditors: amounts falling due after more than one year
9
-
(2,158)
Provisions for liabilities
(173,940)
(169,876)
Net assets
6,203,257
6,123,670
Capital and reserves
Called up share capital
10
150,000
150,000
Profit and loss reserves
6,053,257
5,973,670
Total equity
6,203,257
6,123,670

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

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

The financial statements were approved by the board of directors and authorised for issue on 24 October 2025 and are signed on its behalf by:
J Holland
Director
Company registration number 04986319 (England and Wales)
FOTHERGILL COATED FABRICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -
1
Accounting policies
Company information

Fothergill Coated Fabrics Limited is a private company limited by shares incorporated in England and Wales. The registered office is Summit, Littleborough, Lancashire, OL15 0LR.

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, other than where accounting standards require assets to be recognised at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

This information is included in the consolidated financial statements of Brennan Trade Holdings Limited as at 31 January 2025 and these financial statements may be obtained from Companies House, Crown Way, Maindy, Cardiff, CF4 3UZ.

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 to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Intangible fixed assets - goodwill

Positive purchased goodwill arising on acquisitions is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the profit and loss account over its useful economic life of ten years from the date of transition to FRS 102; 1 February 2015.

FOTHERGILL COATED FABRICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 3 -
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.

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 equipment
3 - 20 years

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.

No depreciation is charged on assets in the year of purchase.

1.6
Fixed asset investments

Interests in subsidiaries 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

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

1.8
Stocks

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

The cost of finished goods comprises raw materials, direct labour, other direct costs and related production overheads.

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.

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

FOTHERGILL COATED FABRICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.9
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
1.10
Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

1.11
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
1.12
Financial instruments

The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable. Loans from banks and other third parties and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash fl o ws and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically

trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

1.13
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.

1.14
Taxation

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

Current tax

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge is attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively,

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generated income.

FOTHERGILL COATED FABRICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are r ecognised in respected of all timing differences that have originated but not reversed by the balance sheet date, except that:

- the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future profits; and

- any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

1.15
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.

1.16
Retirement benefits

The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

1.17
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

FOTHERGILL COATED FABRICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 6 -
1.19
Foreign exchange

Foreign currency transactions are translated into the functional currency using the spot exchange rates 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.

All foreign exchange gains and losses are presented in the profit and loss account within 'administrative expenses'.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Stock provisions are recognised where there are indicators of recoverable value being lower than cost. In establishing the level of provision required, management consider discontinued lines, and slow moving or obsolete stock from the stock system.

3
Employees

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

2025
2024
Number
Number
Total
48
46
FOTHERGILL COATED FABRICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2024 and 31 January 2025
40,000
Amortisation and impairment
At 1 February 2024
38,000
Amortisation charged for the year
2,000
At 31 January 2025
40,000
Carrying amount
At 31 January 2025
-
0
At 31 January 2024
2,000
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2024
2,851,503
Additions
84,934
Disposals
(7,478)
At 31 January 2025
2,928,959
Depreciation and impairment
At 1 February 2024
1,791,112
Depreciation charged in the year
141,320
Eliminated in respect of disposals
(7,478)
At 31 January 2025
1,924,954
Carrying amount
At 31 January 2025
1,004,005
At 31 January 2024
1,060,391
6
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
8
8
FOTHERGILL COATED FABRICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 8 -
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,792,134
1,532,525
Corporation tax recoverable
324,995
-
0
Amounts owed by group undertakings
315,211
117,990
Other debtors
37,710
368,774
2,470,050
2,019,289
2025
2024
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
4,225,360
4,407,715
Total debtors
6,695,410
6,427,004
8
Creditors: amounts falling due within one year
2025
2024
£
£
Obligations under finance leases
2,159
25,529
Trade creditors
138,741
85,502
Amounts owed to group undertakings
3,656,031
3,656,031
Corporation tax
-
0
153,121
Other taxation and social security
106,597
122,287
Other creditors
8,156
7,167
Accruals and deferred income
938,745
1,264,144
4,850,429
5,313,781
9
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
-
0
2,158
10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
150,000
150,000
150,000
150,000
FOTHERGILL COATED FABRICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 9 -
11
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 is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 January 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Alison Buckley
Statutory Auditor:
Mitchell Charlesworth (Audit) Limited
Date of audit report:
24 October 2025
12
Contingent liabilities

The company is party to unlimited cross guarantees, in favour of Barclays Bank plc and Lombard North Central plc, in respect of certain borrowings of all companies in the group headed by Brennan Enterprise Limited. At 31 January 202 5, the net borrowing encompassed by the cross guarantee, in favour of Barclays Bank plc and Lombard North Central plc, amounted to £nil (202 4: £485,467) and £nil (202 4: £20,307) respectively.

13
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, including the lease of the premises at which the company is based (£161,000 per annum expiring in 2038), as follows:

2025
2024
£
£
Total commitments
2,216,898
2,388,787
FOTHERGILL COATED FABRICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 10 -
14
Related party transactions
Transactions with related parties
The amounts owed (to)/from group companies at the reporting dates was as follows:
2025
2024
Amounts owed (to)/from related parties
£
£
Fothergill Engineered Fabrics Limited
4,225,360
2,655,659
Fothergill Polycom Limited
-
408
TBA Textiles Pty Ltd
315,211
1,870,833
Brennan Trade Holdings Limited
(3,656,031)
(3,656,031)
Other information

In preparing these financial statements, advantage has been taken of the provision under Financial Reporting Standard 102 which states that disclosure is not required of transactions with entities that are part of the group, as the consolidated financial statements in which the company is included are publicly available.

During the year, Brennan Commercial Properties Limited, a company related by common control of P G Brennan until 24 September 2024, charged rental fees of £107,333 (202 4: £161,000) of which £nil (202 4: £nil) was due by the company at the balance sheet date.

15
Parent company

The company is a wholly owned subsidiary of Brennan Enterprise Limited, a company incorporated in England and Wales.

The ultimate controlling party of Brennan Enterprise Limited was P G Brennan until 24 September 2024. As of 24 September 2024, the ultimate controlling party is Y Holland.

The largest group in which the results are consolidated is that headed by Brennan Trade Holdings Limited. The consolidated financial statements of the group are available to the public and may be obtained from the Registrar of Companies, Companies House, Crown Way, Maindy, Cardiff, CF4 3UZ.

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