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Registration number: 08931828

Coggon Brothers Limited
Filleted Unaudited Financial Statements
for the Year Ended 31 January 2025

Coggon Brothers Limited

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 11

Coggon Brothers Limited

(Registration number: 08931828)
Balance Sheet as at 31 January 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 433 | 623
Tangible assets | 5 | 2,255,490 | 1,482,902
Other financial assets | 6 | 15 | 15
|  | 2,255,938 | 1,483,540
Current assets |  |  |
Stocks |  | 178,443 | 261,930
Debtors | 7 | 296,580 | 218,109
Other financial assets | 6 | 25,651 | 12,993
Cash at bank and in hand |  | 140,774 | 10,217
|  | 641,448 | 503,249
Creditors: Amounts falling due within one year | 8 | (491,404) | (457,069)
Net current assets |  | 150,044 | 46,180
Total assets less current liabilities |  | 2,405,982 | 1,529,720
Creditors: Amounts falling due after more than one year | 8 | (1,290,598) | (810,847)
Provisions for liabilities |  | (410,833) | (294,731)
Net assets |  | 704,551 | 424,142
Capital and reserves |  |  |
Called up share capital | 9 | 2 | 2
Retained earnings |  | 704,549 | 424,140
Shareholders' funds |  | 704,551 | 424,142

Coggon Brothers Limited

(Registration number: 08931828)
Balance Sheet as at 31 January 2025

For the financial year ending 31 January 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 October 2025 and signed on its behalf by:

Mr John Coggon Director |  |

Coggon Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Mill Farm
North Street
West Butterwick
Scunthorpe
North Lincolnshire
DN17 3JW

Registration number: 08931828

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Other grants

Grants are recognised using the accrual model. Grants received relating to assets are recognised in the profit and loss account over the expected useful life of the asset.

Coggon Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives to their net realisable value, as follows:

Asset class | Depreciation method and rate
Plant, machinery and self-propelled machinery | 5%,6.5% & 10% on cost
Motor vehicles | 15% on cost
Potato Store | 4% on cost

Intangible assets

Intangible fixed assets include Basic Payment Scheme entitlements. These have been included at the original purchase price.
Amortisation has been provided as to write off the entitlements over the life of the scheme.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Entitlements | Straight line over 7 years

Coggon Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Coggon Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year was 6 (2024 - 6).

Coggon Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4 | Intangible assets

| Trademarks, patents and licenses £ | Total £
Cost or valuation
At 1 February 2024 | 947 | 947
At 31 January 2025 | 947 | 947
Amortisation
At 1 February 2024 | 324 | 324
Amortisation charge | 190 | 190
At 31 January 2025 | 514 | 514
Carrying amount
At 31 January 2025 | 433 | 433
At 31 January 2024 | 623 | 623

5 | Tangible assets

| Land and buildings £ | Plant and equipment £ | Motor vehicles £ | Other tangible assets £ | Total £
Cost or valuation
At 1 February 2024 | 217,822 | 1,279,160 | 149,152 | 420,892 | 2,067,026
Additions | 581,533 | 291,530 | 83,098 | - | 956,161
Disposals | - | - | (94,826) | - | (94,826)
At 31 January 2025 | 799,355 | 1,570,690 | 137,424 | 420,892 | 2,928,361
Depreciation
At 1 February 2024 | 36,812 | 397,887 | 28,076 | 121,349 | 584,124
Charge for the year | 21,885 | 51,547 | 19,129 | 21,871 | 114,432
Eliminated on disposal | - | - | (25,685) | - | (25,685)
At 31 January 2025 | 58,697 | 449,434 | 21,520 | 143,220 | 672,871
Carrying amount
At 31 January 2025 | 740,658 | 1,121,256 | 115,904 | 277,672 | 2,255,490
At 31 January 2024 | 181,010 | 881,273 | 121,076 | 299,543 | 1,482,902

Included within the net book value of land and buildings above is £740,658 (2024 - £181,010) in respect of freehold land and buildings.

Coggon Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6 | Other financial assets (current and non-current)

| Financial assets at cost less impairment £ | Total £
Non-current financial assets
Cost or valuation
At 1 February 2024 | 15 | 15
At 31 January 2025 | 15 | 15
Impairment
At 1 February 2024 | - | -
At 31 January 2025 | - | -
Carrying amount
At 31 January 2025 | 15 | 15
At 31 January 2024 | 15 | 15

| Financial assets at cost less impairment £ | Total £
Current financial assets
Cost or valuation
At 1 February 2024 | 19,993 | 19,993
Revaluations | 5,658 | 5,658
At 31 January 2025 | 25,651 | 25,651
Impairment
At 1 February 2024 | - | -
At 31 January 2025 | - | -
Carrying amount
At 31 January 2025 | 25,651 | 25,651
At 31 January 2024 | 12,993 | 12,993

Coggon Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 232,559 | 191,473
Amounts owed by related parties | 11 | 29,337 | -
Prepayments |  | 1,221 | 1,122
Other debtors |  | 33,463 | 25,514
|  | 296,580 | 218,109

8 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 10 | 363,228 | 278,520
Trade payables |  | 98,519 | 132,013
Amounts due to related parties | 11 | - | 11,887
Social security and other taxes |  | - | 16,809
Other payables |  | 29,657 | 17,840
|  | 491,404 | 457,069

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 10 | 927,242 | 693,841
Deferred income |  | 363,356 | 117,006
|  | 1,290,598 | 810,847

| 2025 £ | 2024 £
Due after more than five years |  |
After more than five years by instalments | 620,303 | 367,554
| 620,303 | 367,554

Coggon Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

9 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 2 | 2 | 2 | 2

10 | Loans and borrowings

| 2025 £ | 2024 £
Current loans and borrowings
Bank borrowings | 114,381 | 107,956
Bank overdrafts | 217,066 | 104,417
HP and finance lease liabilities | 31,781 | 66,147
| 363,228 | 278,520

| 2025 £ | 2024 £
Non-current loans and borrowings
Bank borrowings | 902,536 | 637,354
Hire purchase contracts | 24,706 | 56,487
| 927,242 | 693,841

Bank borrowings

The carrying amount of the bank borrowings and overdraft at the year end is £1,233,984 (2024 - £849,727). The coronavirus business loan is not secured on any business assets. 2025 - £75,000 (2024 - £125,000).All other bank loans and the bank overdraft are secured by a fixed and floating charge over the company's assets.

Other borrowings

The carrying amount of hire purchase liabilities at year end is £56,487 (2024 - £122,634). The hire purchase agreements are secured on various items of plant and equipment.

Included in the loans and borrowings are the following amounts due after more than five years:

Bank loans and overdrafts after five years

Bank loans and overdrafts at the year end include instalments due after more than five years of £620,303 ( 2024 - £367,554 )

Coggon Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

11 | Related party transactions

Transactions with directors

2025 | At 1 February 2024 £ | Advances to director £ | Repayments by director £ | At 31 January 2025 £
Mr John Coggon
Directors loan account; interest is charged on this balance at 2.25% | 8,604 | (28,635) | 5,480 | (14,551)
Mr Nicholas Coggon
Directors loan account; interest is charged on this balance at 2.25% | 3,283 | (23,309) | 5,240 | (14,786)

2024 | At 1 February 2023 £ | Advances to director £ | Repayments by director £ | At 31 January 2024 £
Mr John Coggon
Directors loan account; interest is charged on this balance at 2.25% | 33,623 | (54,019) | 29,000 | 8,604
Mr Nicholas Coggon
Directors loan account; interest is charged on this balance at 2.25% | 16,370 | (38,087) | 25,000 | 3,283