Company No: 09410556 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	M Brougham
	J Rice
	T Rillstone

SECRETARY

M Brougham

REGISTERED OFFICE	Speke Business Park Sprint Way
	Goodlass Road
	Liverpool
	L24 9HJ
	United Kingdom

COMPANY NUMBER

09410556 (England and Wales)

ACCOUNTANT	Gravita Business Services II Limited
	Aldgate Tower
	2 Leman Street
	London
	E1 8FA
	United Kingdom

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	8,743		14,060
		8,743		14,060
Current assets
Stocks		961,686		969,462
Debtors	4	692,951		688,452
Cash at bank and in hand		75,212		97,566
		1,729,849		1,755,480
Creditors: amounts falling due within one year	5	( 2,283,855)		( 2,347,417)
Net current liabilities		(554,006)		(591,937)
Total assets less current liabilities		(545,263)		(577,877)
Provision for liabilities		( 2,295)		( 3,514)
Net liabilities		( 547,558)		( 581,391)
Capital and reserves
Called-up share capital		100		100
Profit and loss account		( 547,658 )		( 581,491 )
Total shareholder's deficit		( 547,558)		( 581,391)

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Cossiga (Europe) Limited (registered number: 09410556) were approved and authorised for issue by the Board of Directors on 01 December 2025. They were signed on its behalf by:

M Brougham Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cossiga (Europe) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Speke Business Park Sprint Way, Goodlass Road, Liverpool, L24 9HJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company with support from the Parent Company, has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	3 years straight line
Plant and machinery	3 years straight line
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	8		6

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Computer equipment		Total
	£		£		£		£
Cost
At 01 April 2024	35,009		2,995		15,887		53,891
Additions	0		0		2,378		2,378
At 31 March 2025	35,009		2,995		18,265		56,269
Accumulated depreciation
At 01 April 2024	26,501		2,995		10,335		39,831
Charge for the financial year	4,413		0		3,282		7,695
At 31 March 2025	30,914		2,995		13,617		47,526
Net book value
At 31 March 2025	4,095		0		4,648		8,743
At 31 March 2024	8,508		0		5,552		14,060

4. Debtors

	2025		2024
	£		£
Trade debtors	666,867		663,480
Other debtors	26,084		24,972
	692,951		688,452

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	1,335,354		69,116
Amounts owed to Parent undertakings	779,041		2,129,082
Other taxation and social security	158,853		144,430
Other creditors	10,607		4,789
	2,283,855		2,347,417

6. Financial commitments

Commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £21,352 (2024 - £61,121).

7. Related party transactions

Other related party transactions

At the year end, the company owed £1,988,799 (2024: £2,129,082) to Cossiga New Zealand Limited, the parent company. Of this amount, £1,209,758 is included within Trade Creditors, and the remaining balance of £779,041 relates to an interest free loan which is repayable on demand.