Company registration number 01671419 (England and Wales)
COTSWOLD PROVISIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 2 MAY 2025
PAGES FOR FILING WITH REGISTRAR
COTSWOLD PROVISIONS LIMITED
BALANCE SHEET
AS AT
2 MAY 2025
02 May 2025
- 1 -
02 May
26 April
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
247,855
303,473
Current assets
Stocks
6
709,345
608,899
Debtors
7
987,452
882,531
Cash at bank and in hand
43,571
22,104
1,740,368
1,513,534
Creditors: amounts falling due within one year
8
(1,280,504)
(1,006,746)
Net current assets
459,864
506,788
Total assets less current liabilities
707,719
810,261
Creditors: amounts falling due after more than one year
9
(5,000)
(65,000)
Provisions for liabilities
(52,476)
(64,298)
Net assets
650,243
680,963
Capital and reserves
Called up share capital
13
40,000
40,000
Profit and loss reserves
14
610,243
640,963
Total equity
650,243
680,963

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

For the financial period ended 2 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

COTSWOLD PROVISIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
2 MAY 2025
02 May 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 4 November 2025 and are signed on its behalf by:
Mr P Cockerton
Director
Company Registration No. 01671419
COTSWOLD PROVISIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 2 MAY 2025
- 3 -
1
Accounting policies
Company information

Cotswold Provisions Limited is a private company limited by shares incorporated in England and Wales. The registered office and trading address is Unit 6 Briar Close Industrial Est, Evesham, Worcestershire, United Kingdom, WR11 4JT.

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 £.

1.2
Reporting period

These accounts are for the period to 2nd May 2025 (prior reporting period 28th April 2023 to the 2 6 th April 202 4). The company generally performs a stock take on the last Friday of the month however, for the current period, this was on the 2nd May 2025, therefore the reporting date is aligned to be on the same date.

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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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
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:

Land, buildings and leasehold improvements
10% reducing balance and 15% straight line
Plant and machinery
15% & 20% reducing balance and straight line
Fixtures, fittings and equipment
15% & 20% reducing balance and straight line
Motor vehicles
25% reducing balance

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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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.

COTSWOLD PROVISIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 MAY 2025
1
Accounting policies
(Continued)
- 4 -
1.6
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.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

1.7
Cash and cash equivalents

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.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its 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.

Impairment of financial 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.

COTSWOLD PROVISIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 MAY 2025
1
Accounting policies
(Continued)
- 5 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
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.

1.10
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 PROVISIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 MAY 2025
1
Accounting policies
(Continued)
- 6 -
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.

1.11
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.

1.12
Retirement benefits

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

1.13
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.

1.14

Factored debts

The company utilises a debt factoring arrangement whereby substantially all of the benefits and risks of the factored debts are retained by the company. It is therefore appropriate to adopt a separate presentation whereby gross factored debts are included on the Balance Sheet within debtors and a corresponding liability in respect of the proceeds received from the factor is shown within secured liabilities. Factoring charges are recognised as they accrue and are included within bank charges and similar charges.

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.

COTSWOLD PROVISIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 MAY 2025
- 7 -
3
Employees

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

Period ended
Period ended
02 May
26 April
2025
2024
Number
Number
26
27
4
Taxation
Period
Period
ended
ended
02 May
26 April
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
53,564
71,861
Deferred tax
Origination and reversal of timing differences
(11,822)
(1,607)
Total tax charge
41,742
70,254
5
Tangible fixed assets
Land, buildings and leasehold improvements
Plant and machinery
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 27 April 2024 and 2 May 2025
256,506
663,216
103,318
215,036
1,238,076
Depreciation and impairment
At 27 April 2024
231,799
423,161
95,966
183,677
934,603
Depreciation charged in the period
2,471
24,341
1,927
26,879
55,618
At 2 May 2025
234,270
447,502
97,893
210,556
990,221
Carrying amount
At 2 May 2025
22,236
215,714
5,425
4,480
247,855
At 26 April 2024
24,707
240,055
7,352
31,359
303,473
COTSWOLD PROVISIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 MAY 2025
- 8 -
6
Stocks
02 May
26 April
2025
2024
£
£
Stocks
709,345
608,899
7
Debtors
02 May
26 April
2025
2024
Amounts falling due within one year:
£
£
Factored debts
862,793
792,015
Other debtors
70,961
61,396
Prepayments and accrued income
53,697
29,120
987,451
882,531

Included in other debtors is £39,545, (2024: £24,633) owed by related parties. Amounts owed by related parties are unsecured, interest free and repayable on demand.

8
Creditors: amounts falling due within one year
02 May
26 April
2025
2024
£
£
Factoring Liabilities
10
270,284
87,809
Bank Loans
10
60,000
60,000
Trade creditors
857,489
743,911
Corporation tax
53,547
71,789
Other taxation and social security
11,655
4,094
Other creditors
302
302
Accruals and deferred income
27,227
38,841
1,280,504
1,006,746
9
Creditors: amounts falling due after more than one year
02 May
26 April
2025
2024
£
£
Bank loans
5,000
65,000
COTSWOLD PROVISIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 MAY 2025
- 9 -
10
Loans and overdrafts
02 May
26 April
2025
2024
£
£
Factoring liabilities
270,284
87,809
Bank loans
65,000
125,000
335,284
212,809
Payable within 12 months
330,284
147,809
Payable within 13 to 60 months
5,000
65,000

Secured factoring loans are secured by a fixed and floating charge over the company's total assets.

In May 2020 the company arranged a Coronavirus Business Interruption Loan (CBIL) securing finance of £300,000.

The loan is repayable over 60 months starting In June 2021.

Interest is charged at 3.39% above the base rate which is payable on a monthly basis during the repayment period. During the first 12 months non-repayment period the interest rate was 0%.

The loan is secured by an unlimited guarantee, supported by a fixed and floating charge over all property and assets present and future, including goodwill, book debts and uncalled capital buildings, fixtures, plant and machinery.

The loan is also secured by way of an unlimited guarantee, supported by a debenture and a fixed charge over the freehold investment properties belonging to an associated entity, Cotswold Provisions (Bacon) Limited.

11
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
02 May
26 April
2025
2024
Balances:
£
£
Accelerated capital allowances
52,476
64,298
COTSWOLD PROVISIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 MAY 2025
11
Deferred taxation
(Continued)
- 10 -
2025
Movements in the period:
£
Liability at 27 April 2024
64,298
Credit to profit or loss
(11,822)
Liability at 2 May 2025
52,476

Included in the deferred tax liability set out above is £5,962 relating to accelerated capital allowances which is expected to reverse within 12 months.

12
Retirement benefit schemes
Period
Period
ended
ended
02 May
26 April
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
7,628
7,968

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

As at the balance sheet date the company had overpaid contributions totaling £nil, (202 4: £nil).

13
Called up share capital
02 May
26 April
02 May
26 April
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
40,000
40,000
40,000
40,000
14
Profit and loss reserves
02 May
26 April
2025
2024
£
£
At the beginning of the period
640,963
686,285
Profit for the period
125,280
210,678
Dividends declared and paid in the period
(156,000)
(256,000)
At the end of the period
610,243
640,963
COTSWOLD PROVISIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 MAY 2025
- 11 -
15
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

02 May
26 April
2025
2024
£
£
Within one year
2,520
2,520
Between two and five years
630
3,150
3,150
5,670
COTSWOLD PROVISIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 2 MAY 2025
- 12 -
16
Related party transactions
Transactions with related parties

During the period the company entered into the following transactions with related parties:

Purchases
Purchases
Period
Period
ended
ended
02 May
26 April
2025
2024
£
£
Other related parties
274,740
197,405

The following amounts were outstanding at the reporting end date:

02 May
26 April
2025
2024
Amounts due from related parties
£
£
Other related parties
39,545
24,633
17
Directors' transactions

Dividends totalling £156,000 (2024 - £256,000) were paid in the period in respect of shares held by the company's directors.

At the reporting date the company owes the directors £302 (2024: £302).

18
Controlling party

During the period the company was controlled by directors Mr N Cockerton and Mr P Cockerton by virtue of their majority shareholding.

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