Company registration number 03147246 (England and Wales)
COTSWOLD NATURAL STONE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
COTSWOLD NATURAL STONE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 10
COTSWOLD NATURAL STONE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
25,736
28,794
Tangible assets
5
2,259,046
2,758,698
2,284,782
2,787,492
Current assets
Stocks
315,849
347,518
Debtors
6
1,305,506
1,510,576
Cash at bank and in hand
391,593
661,932
2,012,948
2,520,026
Creditors: amounts falling due within one year
7
(2,059,060)
(2,575,242)
Net current liabilities
(46,112)
(55,216)
Total assets less current liabilities
2,238,670
2,732,276
Creditors: amounts falling due after more than one year
8
(185,517)
(487,206)
Provisions for liabilities
(181,425)
(313,182)
Net assets
1,871,728
1,931,888
Capital and reserves
Called up share capital
30
30
Capital redemption reserve
70
70
Profit and loss reserves
1,871,628
1,931,788
Total equity
1,871,728
1,931,888

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

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

The financial statements were approved and signed by the director and authorised for issue on 30 September 2025
Mr L J M Conlon
Director
Company registration number 03147246 (England and Wales)
COTSWOLD NATURAL STONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Cotswold Natural Stone Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Stoneyard, Scrubbs Lane, Shilton, Burford, Oxfordshire, OX18 4AW.

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. Cost is considered to be either the consideration paid or the deemed cost at transition to FRS102. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of CNS Group Limited. These consolidated financial statements are available from its registered office, The Stoneyard, Scrubbs Lane, Shilton, Burford, Oxfordshire, United Kingdom, OX18 4AW.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business and is shown net of VAT and other sales related taxes.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of stone is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods).

COTSWOLD NATURAL STONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date 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; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

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:

Branding
10% straight line
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:

Freehold land and buildings
1% and 10% on cost
Leasehold improvements
Straight line over lease term
Plant and equipment
Variable rate on reducing balance
Fixtures and fittings
25% reducing balance
Computers
Variable rate on reducing balance and straight line
Motor vehicles
25% reducing balance and straight line

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 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.

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.

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.

COTSWOLD NATURAL STONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
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, cash and bank balances, and loans to fellow group companies, 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 and loans from associated companies, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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 NATURAL STONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
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.

1.11
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.

1.12
Retirement benefits

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

1.13
Leases
As lessee

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.

COTSWOLD NATURAL STONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. Management exercises judgement in assessing net realisable value and in determining provisions for slow-moving or obsolete items, based on historical trends and expected future sales.

Provision

Management has applied judgement in deciding whether customer claims and potential defects create a present obligation. Only cases where settlement is considered probable and can be reasonably estimated have been provided for.

Provisions are based on estimates of the cost of remedial works, legal fees and the likelihood of settlement. Actual outcomes may differ from these estimates.

3
Employees

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

2024
2023
Number
Number
Total
42
45
COTSWOLD NATURAL STONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
4
Intangible fixed assets
Branding
£
Cost
At 1 January 2024 and 31 December 2024
30,578
Amortisation and impairment
At 1 January 2024
1,784
Amortisation charged for the year
3,058
At 31 December 2024
4,842
Carrying amount
At 31 December 2024
25,736
At 31 December 2023
28,794
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 January 2024
1,651,027
2,434,724
4,085,751
Additions
12,468
98,822
111,290
Disposals
-
0
(342,003)
(342,003)
At 31 December 2024
1,663,495
2,191,543
3,855,038
Depreciation and impairment
At 1 January 2024
122,742
1,204,311
1,327,053
Depreciation charged in the year
76,308
439,638
515,946
Eliminated in respect of disposals
-
0
(247,007)
(247,007)
At 31 December 2024
199,050
1,396,942
1,595,992
Carrying amount
At 31 December 2024
1,464,445
794,601
2,259,046
At 31 December 2023
1,528,285
1,230,413
2,758,698

The net book value of assets held under hire purchase and finance lease agreements at 31 December 20 24 was £518,600 (20 23: £713,448).

COTSWOLD NATURAL STONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Tangible fixed assets
(Continued)
- 8 -

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
634,721
849,979
Corporation tax recoverable
-
0
3,838
Other debtors
586,528
373,525
Prepayments and accrued income
84,257
283,234
1,305,506
1,510,576
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
34,876
34,967
Trade creditors
371,327
854,983
Amounts owed to group undertakings
1,070,618
1,037,977
Corporation tax
148,387
-
0
Other taxation and social security
109,001
202,773
Other creditors
324,851
444,542
2,059,060
2,575,242
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
74,947
109,732
Other creditors
110,570
377,474
185,517
487,206
9
Loans and overdrafts
2024
2023
£
£
Bank loans
109,823
144,699
Payable within one year
34,876
34,967
Payable after one year
74,947
109,732
COTSWOLD NATURAL STONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Loans and overdrafts
(Continued)
- 9 -

There is a legal charge over Grangehill Quarry dated 27 September 2007 securing all monies due to National Westminister Bank Plc. A debenture in favour of National Westminister Bank Plc securing all monies due to the bank was created on 10 August 2007.

10
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 December 2024 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:
Amy Cotterill ACA
Statutory Auditor:
bk plus Audit Limited
Date of audit report:
30 September 2025
11
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, as follows:

2024
2023
£
£
Total commitments
451,000
473,000
12
Related party transactions
Transactions with related parties

During the year, the company recharged materials and labour to companies in which the director has an interest. These have been recharged at cost. The expense is included within administration expense and the income is included within other operating income. No profit is made on these recharges. The total amount recharged in the year was £101,530 (2023 - £83,441).

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Other related parties
586,527
150,314
COTSWOLD NATURAL STONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12
Related party transactions
(Continued)
- 10 -

The Company has taken advantage of the exemption in Section 33.1A of Financial Reporting Standard 102 from the requirement to disclose transactions with wholly owned members of the group.

The company has taken advantage of the exemption under Financial Reporting Standard 102 Section 1.12 Reduced Disclosures For Subsidiaries from disclosing key management compensation in total.

13
Parent company

The Company is a wholly-owned subsidiary of CNS Group Limited, a company incorporated in England. The parent company prepares consolidated financial statements, and are available from Companies House, Crown Way, Cardiff, CF14 3UZ.

The immediate parent undertaking is CNS Group Limited and the ultimate controlling party is Luke Conlon.

2024-12-31 2024-01-01 false false false 30 September 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity Mr L J M Conlon Mr L J M Conlon 03147246 2024-01-01 2024-12-31 03147246 2024-12-31 03147246 2023-12-31 03147246 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-12-31 03147246 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-12-31 03147246 core:LandBuildings 2024-12-31 03147246 core:OtherPropertyPlantEquipment 2024-12-31 03147246 core:LandBuildings 2023-12-31 03147246 core:OtherPropertyPlantEquipment 2023-12-31 03147246 core:ShareCapital 2024-12-31 03147246 core:ShareCapital 2023-12-31 03147246 core:CapitalRedemptionReserve 2024-12-31 03147246 core:CapitalRedemptionReserve 2023-12-31 03147246 core:RetainedEarningsAccumulatedLosses 2024-12-31 03147246 core:RetainedEarningsAccumulatedLosses 2023-12-31 03147246 bus:CompanySecretaryDirector1 2024-01-01 2024-12-31 03147246 core:IntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 03147246 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 03147246 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03147246 core:LeaseholdImprovements 2024-01-01 2024-12-31 03147246 core:PlantMachinery 2024-01-01 2024-12-31 03147246 core:FurnitureFittings 2024-01-01 2024-12-31 03147246 core:ComputerEquipment 2024-01-01 2024-12-31 03147246 core:MotorVehicles 2024-01-01 2024-12-31 03147246 2023-01-01 2023-12-31 03147246 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-12-31 03147246 core:LandBuildings 2023-12-31 03147246 core:OtherPropertyPlantEquipment 2023-12-31 03147246 2023-12-31 03147246 core:LandBuildings 2024-01-01 2024-12-31 03147246 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 03147246 core:CurrentFinancialInstruments 2024-12-31 03147246 core:CurrentFinancialInstruments 2023-12-31 03147246 core:Non-currentFinancialInstruments 2024-12-31 03147246 core:Non-currentFinancialInstruments 2023-12-31 03147246 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03147246 bus:FRS102 2024-01-01 2024-12-31 03147246 bus:Audited 2024-01-01 2024-12-31 03147246 bus:Director1 2024-01-01 2024-12-31 03147246 bus:CompanySecretary1 2024-01-01 2024-12-31 03147246 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03147246 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP