Company No: OC399046 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	143,370		156,328
		143,370		156,328
Current assets
Stocks		64,237		71,264
Debtors	4	74,227		69,190
Cash at bank and in hand		5,397		0
		143,861		140,454
Creditors: amounts falling due within one year	5	( 4,620)		( 34,404)
Net current assets		139,241		106,050
Total assets less current liabilities		282,611		262,378
Creditors: amounts falling due after more than one year	6	( 6,947)		( 8,916)
Net assets attributable to members		275,664		253,462
Represented by
Loans and other debts due to members within one year
Other amounts		275,664		253,462
		275,664		253,462
Members' other interests
		0		0
		275,664		253,462
Total members' interests
Loans and other debts due to members		275,664		253,462
		275,664		253,462

For the financial year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, 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 LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

Cottonworth LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

The financial statements of Cottonworth LLP (registered number: OC399046) were approved and authorised for issue by the Board of Directors on 11 December 2025. They were signed on its behalf by:

H G Liddell Designated member

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

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

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.

The functional currency of Cottonworth LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Turnover

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its goods. Revenue is measured at the gross fair value of the consideration received, excluding discounts, rebates, VAT paid to HMRC using the Flat Rate Scheme and other sales tax.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

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, reducing balance] basis over its expected useful life, as follows:

Land and buildings	25 years straight line
Vehicles	25 % reducing balance
Office equipment	25 years straight line

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 and other debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

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 and other 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 limited liability partnership 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.

Financial instruments

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the limited liability partnership intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

The limited liability partnership has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all of the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	0		0

3. Tangible assets

	Land and buildings		Vehicles		Office equipment		Total
	£		£		£		£
Cost
At 01 April 2024	217,479		17,950		456		235,885
At 31 March 2025	217,479		17,950		456		235,885
Accumulated depreciation
At 01 April 2024	78,309		1,122		126		79,557
Charge for the financial year	8,701		4,207		50		12,958
At 31 March 2025	87,010		5,329		176		92,515
Net book value
At 31 March 2025	130,469		12,621		280		143,370
At 31 March 2024	139,170		16,828		330		156,328

4. Debtors

	2025		2024
	£		£
Trade debtors	0		912
Other debtors	74,227		68,278
	74,227		69,190

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank overdrafts	0		20,859
Trade creditors	0		9,135
Accruals	2,650		2,650
Obligations under finance leases and hire purchase contracts	1,970		1,760
	4,620		34,404

Capital loans and other debts due to members rank 'parri passu' with other unsecured creditors, in accordance with the members' agreement. There are no restrictions on the members' ability to reduce the amount of members' other interests.

The hire purchase liabilities are secured on the assets that they relate.

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts	6,947		8,916

7. Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.